{"id":987013,"date":"2026-07-30T06:35:10","date_gmt":"2026-07-30T10:35:10","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/coastal-financial-corporation-announces-second-quarter-2026-results\/"},"modified":"2026-07-30T06:35:10","modified_gmt":"2026-07-30T10:35:10","slug":"coastal-financial-corporation-announces-second-quarter-2026-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/coastal-financial-corporation-announces-second-quarter-2026-results\/","title":{"rendered":"Coastal Financial Corporation Announces Second Quarter 2026 Results"},"content":{"rendered":"

\nResults Reflect Record Net Interest Income and Continued BaaS Growth, Offset by Credit Expenses Taken on Single Partner Relationship
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EVERETT, Wash., July 30, 2026 (GLOBE NEWSWIRE) — Coastal Financial Corporation (Nasdaq: CCB) (the \u201cCompany\u201d, “Coastal”, “we”, “our”, or “us”), the holding company for Coastal Community Bank (the \u201cBank\u201d), through which it operates a community-focused bank segment (“community bank”) with an industry leading banking as a service (“BaaS”) segment (“CCBX”), today reported unaudited financial results for the quarter ended June 30, 2026, including net loss of $42.1 million, or $(2.76) per diluted common share, compared to net income of $12.0 million, or $0.78 per diluted common share, for the three months ended March 31, 2026 and $11.0 million, or $0.71 per diluted common share, for the three months ended June 30, 2025. The net loss is primarily attributable to a $68.8 million credit expense related to a single, isolated CCBX partner relationship.<\/p>\n

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\n Management Discussion of the Second Quarter Results<\/u>
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\u201cOur second quarter results reflect continued performance of our core franchise, which was offset by decisive action we took on a single non-public company partner relationship. Based on our assessment, we recorded the potential impact fully and in accordance with our credit protection framework. We believe this is an isolated issue pertaining to one partner and does not reflect a change in our view of our broader partner portfolio or BaaS model. We remain focused on disciplined and sustainable growth by partnering with organizations that align with our long-term strategy, thoughtfully expanding our product offerings, and continuing to build a resilient BaaS platform designed to deliver value for all stakeholders,\u201d stated CEO Eric Sprink.<\/p>\n

\u201cDespite these credit expenses, we delivered solid loan growth of 9.0%, increased BaaS program income, and continued to deepen relationships with our established partners while advancing new products that support our strategy,\u201d added Sprink. \u201cOur CCBX segment expanded product offerings with existing partners during the quarter while advancing new partners through onboarding toward launch and active status in alignment with our long-term strategy. We also experienced solid quarter-over-quarter growth in BaaS program income, reflecting continued momentum across our diversified revenue streams.\u201d<\/p>\n

\u201cLooking ahead, we remain focused on disciplined, sustainable growth by strengthening relationships with larger, well-established partners, thoughtfully expanding our product offerings, and continuing to invest in the infrastructure, technology and risk management capabilities that support our platform. Our operating momentum, our disciplined approach to partner selection, and our strong capital and liquidity position leave us confident in our ability to execute and to create long-term value for shareholders,\u201d concluded Sprink.<\/p>\n

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\n Key Points for Second Quarter<\/u>
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