secwatch.observer — SEC 8-K summary
======================================

Issuer:     COASTAL FINANCIAL CORP (CCB)
CIK:        0001437958
Form:       8-K/A
Filed at:   2025-03-17T23:59:59+00:00
Accession:  0001437958-25-000060
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Coastal Financial Corp revises Q4 earnings; net income $13.4M, $0.94 EPS; $98M capital raise
--------------------------------------------------------------------------------

- Net income Q4 2024 $13.4M ($0.94 diluted EPS) vs $13.5M ($0.97) in Q3; full-year net income $45.2M vs $44.6M in 2023.
- Completed $98.0M common equity raise at $71.00/share; CET1 ratio increased to 12.04% from 9.24% in Q3.
- Sold $845.5M in loans (credit card) in Q4; CCBX program fee income up 51.6% YoY to $20.1M.
- Noninterest expense rose to $67.4M from $64.4M in Q3 due to higher salaries and legal costs.
- Three signed letters of intent for CCBX partnerships as of Dec 31, 2024; management expects front-loaded expenses in 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437958/000143795825000060/0001437958-25-000060-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437958/000143795825000060/ck1437958-20250128.htm
  HTML page:      https://secwatch.observer/filing/0001437958-25-000060

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer