Earnings ·
Coastal Financial Corporation filed an 8-K to furnish its Second Quarter 2026 Investor Presentation
CCBCoastal Financial Corp
Coastal Financial Corporation filed an 8-K to furnish its Second Quarter 2026 Investor Presentation. The company reported a net loss of $42.1 million, or $(2.76) per share, driven by a $22.8 million specific provision for credit losses and a $46.0 million valuation adjustment to a credit enhancement asset related to one non-public partner. Total loans receivable grew 9.0% quarter-over-quarter to $4.21 billion, while total deposits decreased 3.6% to $4.86 billion due to increased off-balance sheet sweep arrangements totaling $4.26 billion. The company also recorded $4.4 million in amortization of capitalized software. Coastal Financial Corporation operates as a community bank and provides Banking-as-a-Service (BaaS) solutions.