Coastal Financial ( (CCB) ) has released its Q1 earnings. Here is a breakdown of the information Coastal Financial presented to its investors.
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Coastal Financial Corporation is a Washington-based bank holding company, primarily operating through its subsidiary, Coastal Community Bank, providing a range of banking services in the Puget Sound region and offering banking as a service (BaaS) through its CCBX segment. In its latest earnings report, Coastal Financial Corporation reported a net income of $9.73 million for the first quarter of 2025, an increase from $6.8 million in the same period last year. The company saw a significant rise in net interest income, which reached $76.06 million, up from $62.21 million in the previous year, driven by higher interest and fees on loans. Additionally, the company reported total assets of $4.34 billion, reflecting growth from $4.12 billion at the end of 2024. Coastal Financial’s CCBX segment continues to play a crucial role in its financial performance, contributing significantly to noninterest income through BaaS program income and credit enhancements. Looking ahead, Coastal Financial Corporation remains focused on executing its growth strategy and optimizing its CCBX segment, while navigating market conditions and regulatory challenges.