secwatch.observer — SEC 8-K summary
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Issuer:     COASTAL FINANCIAL CORP (CCB)
CIK:        0001437958
Form:       8-K/A
Filed at:   2025-03-17T23:59:59+00:00
Accession:  0001437958-25-000062
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Coastal Financial corrects fintech partner accounting errors; no impact on net income/EPS; Q4 EPS $0.94
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- Corrected balance sheet, income statement, and cash flow items due to fintech partner accounting errors; net income and EPS unchanged for Q4 and FY2024.
- Diluted EPS of $0.94 for Q4 2024, up 42.2% YoY; net income $13.4 million, up 48.3% YoY.
- Revenue $146.5 million, down 3.0% QoQ but up 21.7% YoY; core net revenue $47.8 million, up 4.8% QoQ.
- Completed $98 million equity capital raise at $71.00 per share; tangible book value $29.37, up 19.8% QoQ.
- Sold $845.5 million in loans (primarily credit cards); BaaS program fee income grew 56.1% YoY to $5.6 million.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437958/000143795825000062/0001437958-25-000062-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437958/000143795825000062/ck1437958-20250128.htm
  HTML page:      https://secwatch.observer/filing/0001437958-25-000062

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