Coastal Financial: partner Bluevine to be acquired by Valley National; $447M of deposits affected

COASTAL FINANCIAL CORP

Bluevine, a Coastal Community Bank fintech partner, signed a definitive agreement to be acquired by Valley National Bancorp, parent of Valley Bank; deal subject to regulatory approvals.
Approximately $447 million of Bluevine-related deposits were held on the Bank's balance sheet as of September 25, 2026; the balance fluctuates with customer activity and sweep usage.
CCBX had 22 active partner relationships as of June 30, 2026; Coastal does not currently expect the transaction to have a material adverse effect on liquidity or funding.
Coastal cites ability to bring sweep deposits back onto its balance sheet as flexibility to replace Bluevine-related deposits; more detail expected with Q3 earnings.

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