COASTAL FINANCIAL CORP
For the period ended Sep 30, 2025. Filed Nov 7, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 7, 2025
CCB$42.91-1.6%Stored close · as of Nov 10, 2026
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Condensed Consolidated Balance Sheets as of and (unaudited)
COASTAL FINANCIAL CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(dollars in thousands)
| ASSETS | ||
|---|---|---|
| September 30,2025 | December 31,2024 | |
| Cash and due from banks | $34,928 | $36,533 |
| Interest earning deposits with other banks | 607,330 | 415,980 |
| Investment securities, available-for-sale, at fair value | 31 | 35 |
| Investment securities, held-to-maturity, at amortized cost | 43,911 | 47,286 |
| Other investments | 12,778 | 10,800 |
| Loans held for sale | 42,894 | 20,600 |
| Loans receivable | 3,703,848 | 3,486,565 |
| Allowance for credit losses | (173,813) | (176,994) |
| Total loans receivable, net | 3,530,035 | 3,309,571 |
| CCBX credit enhancement asset | 177,741 | 181,890 |
| CCBX receivable | 16,260 | 14,138 |
| Premises and equipment, net | 29,114 | 27,431 |
| Lease right-of-use assets | 4,788 | 5,219 |
| Accrued interest receivable | 20,493 | 21,104 |
| Bank-owned life insurance, net | 13,777 | 13,375 |
| Deferred tax asset, net | — | 3,600 |
| Other assets | 18,996 | 13,646 |
| Total assets | $4,553,076 | $4,121,208 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| LIABILITIES | ||
| Deposits | $3,972,563 | $3,585,332 |
| Subordinated debt, net | ||
| Principal amount $45,000 (less unamortized debt issuance costs of $594 and $707) at September 30, 2025 and December 31, 2024, respectively | 44,406 | 44,293 |
| Junior subordinated debentures, net | ||
| Principal amount $3,609 (less unamortized debt issuance costs of $16 and $18 at September 30, 2025 and December 31, 2024, respectively) | 3,593 | 3,591 |
| Deferred compensation | 281 | 332 |
| Accrued interest payable | 1,106 | 962 |
| Lease liabilities | 4,956 | 5,398 |
| CCBX payable | 31,221 | 29,171 |
| Deferred tax liability, net | 799 | — |
| Other liabilities | 18,874 | 13,425 |
| Total liabilities | 4,077,799 | 3,682,504 |
| SHAREHOLDERS’ EQUITY | ||
| Preferred stock, no par value: | ||
| Authorized: 25,000,000 shares at September 30, 2025 and December 31, 2024; issued and outstanding: zero shares at September 30, 2025 and December 31, 2024 | — | — |
| Common stock, no par value: | ||
| Authorized: 300,000,000 shares at September 30, 2025 and December 31, 2024; 15,112,000 shares at September 30, 2025 issued and outstanding and 14,935,298 shares at December 31, 2024 issued and outstanding | 230,399 | 228,177 |
| Retained earnings | 244,879 | 210,529 |
| Accumulated other comprehensive loss, net of tax | (1) | (2) |
| Total shareholders’ equity | 475,277 | 438,704 |
| Total liabilities and shareholders’ equity | $4,553,076 | $4,121,208 |
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