secwatch.observer — SEC 8-K summary
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Issuer:     COASTAL FINANCIAL CORP (CCB)
CIK:        0001437958
Form:       8-K
Filed at:   2026-07-30T10:45:09+00:00
Accession:  0001437958-26-000052
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Coastal Financial Q2 net loss $42.1M on $68.8M credit charge from single BaaS partner
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- Net loss of $42.1M ($2.76 diluted EPS) vs net income of $12.0M in Q1 2026 and $11.0M in Q2 2025.
- Record net interest income of $89.4M, up 7.2% QoQ; BaaS program fee income $12.0M, up 10.3% QoQ.
- Credit expense of $68.8M related to one CCBX partner: $22.8M provision for credit losses and $46.0M valuation adjustment to credit enhancement asset.
- Loans receivable grew 9.0% to $4.21B; CCBX loans up 18.1% to $2.23B despite $4.56B in loan sales.
- Christopher D. Adams appointed Executive Chairman effective immediately; capital ratios remain well capitalized but down ~1 ppt.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437958/000143795826000052/0001437958-26-000052-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437958/000143795826000052/ck1437958-20260730.htm
  HTML page:      https://secwatch.observer/filing/0001437958-26-000052

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