secwatch.observer — SEC 8-K summary
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Issuer:     COASTAL FINANCIAL CORP (CCB)
CIK:        0001437958
Form:       8-K
Filed at:   2025-04-29T23:59:59+00:00
Accession:  0001437958-25-000082
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437958/000143795825000082/0001437958-25-000082-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437958/000143795825000082/ck1437958-20250429.htm
  HTML page:      https://secwatch.observer/filing/0001437958-25-000082

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