Welcome to our dedicated page for Coastal Financial news (Ticker: CCB), a resource for investors and traders seeking the latest updates and insights on Coastal Financial stock.
Coastal Financial Corporation (CCB) delivers community-focused banking services and innovative Banking-as-a-Service (BaaS) solutions across Washington's Puget Sound region. This news hub provides investors and stakeholders with timely updates on the company's financial developments and strategic initiatives.
Access official press releases covering quarterly earnings, regulatory filings, leadership updates, and partnership announcements. Our curated collection simplifies tracking CCB's progress in traditional banking and fintech-enabled services through its Community Bank and CCBX divisions.
Discover updates on consumer lending programs, small business financing solutions, and BaaS collaborations with digital financial platforms. All content is sourced from verified corporate communications to ensure reliability for investment research and market analysis.
Bookmark this page for streamlined access to Coastal Financial's latest milestones, including product launches, regulatory compliance achievements, and community impact initiatives. Check back regularly for comprehensive coverage of CCB's role in reshaping regional banking through technology and local expertise.
Coastal Financial Corporation (Nasdaq: CCB) reported significant growth in Q4 2021, with non-PPP loans rising by $186.8 million (12.9%) and CCBX loans soaring by 82.3% to $346.6 million. Total assets increased by 7.5% to $2.64 billion and net income improved by 9.1% to $7.3 million or $0.57 per diluted share. Annual results showed a 66.3% increase in total deposits and a 49.2% rise in total assets compared to 2020. A successful public offering generated $34.5 million to support growth.
Coastal Financial Corporation (NASDAQ: CCB) announced the successful closing of its public offering of 851,853 shares of common stock at $40.50 per share, totaling approximately $34.5 million in gross proceeds. The transaction included an exercised option for additional shares. Proceeds will support general corporate purposes and the growth of Coastal Community Bank. The offering was managed by Keefe, Bruyette & Woods, Inc. and other firms, conducted under an effective shelf registration statement.
Coastal Financial Corporation (NASDAQ: CCB) announced a public offering of 740,742 shares at $40.50 each, aiming for gross proceeds of approximately $30 million. The underwriters have a 30-day option for an additional 111,111 shares, potentially raising total proceeds to $34.5 million. The funds will support general corporate purposes, including growth opportunities. The offering is set to close around December 17, 2021, subject to customary conditions. Keefe, Bruyette & Woods is the bookrunning manager, with several co-managers involved.
Coastal Financial Corporation (NASDAQ: CCB) has launched an underwritten public offering of $30 million of its common stock, with an option for underwriters to purchase an additional $4.5 million. The proceeds will be used for general corporate purposes, primarily to support investment opportunities and growth at Coastal Community Bank.
Keefe, Bruyette & Woods, Inc. is the sole bookrunning manager, with Raymond James & Associates, Stephens Inc., and Hovde Group as co-managers. The offering is made under an effective shelf registration statement.
Coastal Community Bank, a division of Coastal Financial Corporation (Nasdaq: CCB), has partnered with LendingPoint, a leader in AI CreditTech, to enhance credit access for consumers and small businesses. This collaboration aims to expand Coastal's geographic footprint and provide a seamless digital experience for borrowers. LendingPoint's platform has originated over $4.5 billion since 2015, leveraging predictive underwriting models to reduce risk and costs. As of September 30, 2021, Coastal reported $2.45 billion in total assets and $1.72 billion in loans.
Coastal Financial Corporation (Nasdaq: CCB) reported strong growth in Q3 2021, with total assets rising by $444.4 million (22.1%) to $2.45 billion. Deposits increased by $421.9 million (23.4%) to $2.22 billion, driven by a $339.8 million growth in CCBX deposits. Loan growth reached $47.5 million, despite $130.8 million in PPP loan repayments. Net income for the quarter was $6.7 million ($0.54 per diluted share), slightly down from $7.0 million in Q2 2021. CCBX continues to grow with 26 active relationships, enhancing fee and interest income.
Coastal Financial Corporation (Nasdaq: CCB) has appointed Michael Patterson, CPA, to its Board of Directors, bringing over 38 years of global business experience. His background in strategy, risk management, and compliance is expected to support Coastal's growth and navigation through regulatory complexities. Patterson previously led EY LLP’s Compliance Risk Management during the 2008 financial crisis and held significant roles at Merrill Lynch and other consulting firms. As of June 30, 2021, Coastal had total assets of $2.0 billion, with total gross loans at $1.66 billion and total deposits of $1.8 billion.
Coastal Financial Corporation (NASDAQ: CCB) announced the completion of a $25 million private placement of fixed-to-floating rate subordinated notes maturing on September 1, 2031. The notes will have an initial fixed annual interest rate of 3.375% for the first five years, transitioning to a quarterly reset based on the three-month SOFR plus 276 basis points. Proceeds will be used for general corporate purposes, including debt repayment and loan growth. The notes can be redeemed starting September 1, 2026.
Coastal Financial Corporation (Nasdaq: CCB) reported a net income of $7.0 million for Q2 2021, marking a 16.5% increase from Q1 2021. Diluted earnings per share rose to $0.56, up 15.9%. Total deposits increased by $130.0 million, reaching $1.80 billion, with core deposits comprising 95.7%. While total loans decreased by $108.6 million to $1.66 billion, non-PPP loans grew by 2.9%. The company continues to expand its CCBX division and plans to launch digital bank accounts in collaboration with Google.
Coastal Financial Corporation (Nasdaq: CCB) reported a strong first quarter of 2021, with net income rising 29.1% to $6.0 million ($0.49 per diluted share) compared to Q4 2020. Total assets grew by 14.9% to $2.03 billion, and total loans receivable increased by 14.2% to $1.77 billion, bolstered by $543.8 million in PPP loans. Total deposits grew 17.6% to $1.67 billion. The company also received the Raymond James Community Bankers Cup for the second consecutive year. Return on assets rose to 1.28%, reflecting effective management amidst pandemic challenges.
