{"id":1008405,"date":"2026-10-07T17:56:11","date_gmt":"2026-10-07T21:56:11","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/coastal-community-bank-announces-375000-in-multiyear-community-development-grants\/"},"modified":"2026-10-07T17:56:11","modified_gmt":"2026-10-07T21:56:11","slug":"coastal-community-bank-announces-375000-in-multiyear-community-development-grants","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/coastal-community-bank-announces-375000-in-multiyear-community-development-grants\/","title":{"rendered":"Coastal Community Bank Announces $375,000 in Multiyear Community Development Grants"},"content":{"rendered":"<div class=\"mw_release\">\n<p>EVERETT, Wash., Oct.  07, 2026  (GLOBE NEWSWIRE) &#8212; Coastal Community Bank (the \u201cBank\u201d, \u201cCoastal\u201d, or \u201cwe\u201d) has awarded three multiyear community development grants totaling $375,000 to nonprofit organizations serving Snohomish and King counties.\u00a0<\/p>\n<p>\n        <strong>Local Initiatives Support Corporation Puget Sound (\u201cLISC\u201d) <\/strong>received a $150,000 grant over three years to support community development efforts in Everett and Snohomish County. The funding will help bring community partners together, strengthen local organizations, coordinate development strategies, and advance projects that expand housing and economic opportunity.\u00a0<\/p>\n<p>LISC provides community development services by coordinating cross-sector partnerships, convening public agencies and nonprofit organizations, and delivering technical assistance and capacity-building support to housing developers and community-based organizations serving low- and moderate-income communities. These activities facilitate the creation and preservation of affordable housing, strengthen local economic ecosystems, support small businesses and workforce development efforts, and address emerging community needs that impact low- to moderate-income residents.\u202f\u00a0<\/p>\n<p>\n        <strong>VOA of Western Washington (\u201cVOA\u201d)<\/strong> received a $150,000 grant over three years to help support construction costs for the Lynnwood Neighborhood Center. The multigenerational center is expected to serve more than 20,000 people annually in south Snohomish County, with a focus on residents with low to moderate incomes.\u00a0<\/p>\n<p>VOA provides essential human services and workforce development support to low-income households, including immigrant and refugee populations, through job training, resume assistance, and education support that improve employment readiness and access to economic opportunity. The organization also supports affordable housing by helping low-income families address housing-related needs such as rent, utilities, and supportive services that promote housing stability and reduce cost burden.\u202f\u00a0<\/p>\n<p>\n        <strong>Housing Consortium of Everett and Snohomish County (\u201cHCESC \u201c)<\/strong> received a $75,000 grant over three years to fund capacity-building staff positions that strengthen HCESC\u2019s ability to provide technical guidance, community engagement, education, and policy leadership that facilitate the creation and preservation of affordable housing for low- and moderate-income individuals.\u202f\u00a0<\/p>\n<p>HCESC serves as a countywide leader and convener addressing the region\u2019s critical affordable housing shortage by coordinating housing developers, service providers, policymakers, and community members to advance equitable housing solutions.\u00a0\u00a0<\/p>\n<p>\u201cThese organizations are doing essential work to expand housing and economic opportunity in our communities,\u201d said Chris Adams, Executive Chair at Coastal Community Bank. \u201cMultiyear funding gives them the flexibility to build partnerships, strengthen their teams, and carry projects forward. We\u2019re proud to support work that will make a lasting difference for our neighbors in Snohomish and King counties.\u201d\u00a0<\/p>\n<p>\n        <strong><br \/>\n          <u>About Coastal Financial<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p>Coastal Financial Corporation (Nasdaq: CCB) (the \u201cCompany\u201d), is an Everett, Washington based bank holding company whose wholly owned subsidiaries are Coastal Community Bank (\u201cBank\u201d) and Arlington Olympic LLC.\u00a0\u00a0The $5.46 billion Bank provides service through 14 full-service branches in Snohomish, Island and King Counties, one loan production office in King County, the Internet and its mobile banking application.\u00a0The Bank provides banking as a service to digital financial service providers, companies and brands that want to provide financial services to their customers through the Bank&#8217;s CCBX segment.\u00a0To learn more about the Company visit <u>www.coastalbank.com<\/u>.<\/p>\n<p>\n        <strong><br \/>\n          <u>Contact<\/u><br \/>\n        <\/strong><br \/>\n        <br \/>Chris D. Adams, Executive Chair of Coastal Financial Corporation, cadams@coastalbank.com<br \/>Eric Sprink, Chief Executive Officer, esprink@coastalbank.com<br \/>Joel G. Edwards, Chief Financial Officer, jedwards@coastalbank.com<\/p>\n<p>\n        <strong><br \/>\n          <u>Forward-Looking Statements<\/u><br \/>\n        <\/strong><br \/>\n        <br \/>This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. Any statements about our management\u2019s expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as \u201canticipate,\u201d \u201cbelieves,\u201d \u201ccan,\u201d \u201ccould,\u201d \u201cmay,\u201d \u201cpredicts,\u201d \u201cpotential,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cestimate,\u201d \u201cplans,\u201d \u201cprojects,\u201d \u201ccontinuing,\u201d \u201congoing,\u201d \u201cexpects,\u201d \u201cintends\u201d and similar words or phrases. Any or all of the forward-looking statements in this press release may turn out to be inaccurate. The inclusion of or reference to forward-looking information in this press release should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Our actual results could differ materially from those anticipated in such forward-looking statements as a result of risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, our ability to effectively evaluate and manage counterparty risk associated with CCBX partners and the risk that the conflicts in the Middle East and\/or changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs, may adversely impact our business, financial condition, and results of operations and those other risks and uncertainties discussed under \u201cRisk Factors\u201d in our Annual Report on Form 10-K for the most recent period filed and in any of our subsequent filings with the Securities and Exchange Commission.<\/p>\n<p>If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. You are cautioned not to place undue reliance on forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as required by law.<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTg0MTc4MyM3ODgzMTQ0IzIxMjI3MDU=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/NzIwMWU0NDktMTkzYi00MWEwLTkxZDEtYTY4Njk4YTE0ZjM1LTExMzQyNzYtMjAyNi0xMC0wNy1lbg==\/tiny\/Coastal-Financial-Corporation.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>EVERETT, Wash., Oct. 07, 2026 (GLOBE NEWSWIRE) &#8212; Coastal Community Bank (the \u201cBank\u201d, \u201cCoastal\u201d, or \u201cwe\u201d) has awarded three multiyear community development grants totaling $375,000 to nonprofit organizations serving Snohomish and King counties.\u00a0 Local Initiatives Support Corporation Puget Sound (\u201cLISC\u201d) received a $150,000 grant over three years to support community development efforts in Everett and Snohomish County. The funding will help bring community partners together, strengthen local organizations, coordinate development strategies, and advance projects that expand housing and economic opportunity.\u00a0 LISC provides community development services by coordinating cross-sector partnerships, convening public agencies and nonprofit organizations, and delivering technical assistance and capacity-building support to housing developers and community-based organizations serving low- and moderate-income communities. These activities facilitate the creation and preservation &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/coastal-community-bank-announces-375000-in-multiyear-community-development-grants\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Coastal Community Bank Announces $375,000 in Multiyear Community Development Grants&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1008405","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Coastal Community Bank Announces $375,000 in Multiyear Community Development Grants - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/coastal-community-bank-announces-375000-in-multiyear-community-development-grants\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coastal Community Bank Announces $375,000 in Multiyear Community Development Grants - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"EVERETT, Wash., Oct. 07, 2026 (GLOBE NEWSWIRE) &#8212; Coastal Community Bank (the \u201cBank\u201d, \u201cCoastal\u201d, or \u201cwe\u201d) has awarded three multiyear community development grants totaling $375,000 to nonprofit organizations serving Snohomish and King counties.\u00a0 Local Initiatives Support Corporation Puget Sound (\u201cLISC\u201d) received a $150,000 grant over three years to support community development efforts in Everett and Snohomish County. The funding will help bring community partners together, strengthen local organizations, coordinate development strategies, and advance projects that expand housing and economic opportunity.\u00a0 LISC provides community development services by coordinating cross-sector partnerships, convening public agencies and nonprofit organizations, and delivering technical assistance and capacity-building support to housing developers and community-based organizations serving low- and moderate-income communities. 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