Coastal Financial Q1 net income $9.7M ($0.63 EPS); CCBX fee income +55% YoY, expenses rise on partner onboarding

COASTAL FINANCIAL CORP

2025-Q1 EPS reported $0.63

Net income of $9.7M, diluted EPS $0.63, down from $0.94 in Q4 2024 but up from $0.50 YoY.
Total deposits grew $205.9M to $3.79B; CCBX deposits up $202.9M, with $406.3M swept off balance sheet.
CCBX program fee income $6.3M, up 13% QoQ and 55% YoY; fee-earning credit cards up 54,575 to 237,024.
Noninterest expense $72.0M, up 6.8% QoQ driven by salaries, legal, BaaS loan expense; expects elevated expenses through Q2.
Sold $744.6M of loans mainly credit cards; net interest margin 7.48% vs 7.23% prior quarter; loan yield 11.33%.

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