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Coastway Bancorp, Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2018 10-Q, filed Aug 2, 2018. Its latest SEC filing is a 15-12B from Oct 18, 2018.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Takes deposits and makes home and business loans to individuals, families and businesses in Rhode Island.

How Did They Make Money?

The bank earns interest on loans and other interest-earning assets, collects customer service fees, and earns gains when it sells residential mortgages; interest paid on its interest-bearing liabilities offsets that income.

FY2013 revenue

Who Were Their Customers?

Individuals, families and businesses across Rhode Island use its banking offices and online and mobile banking; its commercial lending focuses on small businesses in its market area.

Did Revenues Turn Into Profits?

Yes. It kept 2 cents of every revenue dollar as net income in FY2013.

Net income, FY2013
2% of revenue
▼ −81% vs FY2012 ($1.1M, 9%)

How Were They Changing?

Since the FY2017 annual report
Latest quarter: Q2 FY2018, the three months to Jun 30, 2018
Revenue
▲ +32%
vs $5.9M in Q2 FY2017
Net income
▲ +72%
vs $817K in Q2 FY2017
  • Oct 9, 2018 Coastway merged with HarborOne and was delisted Coastway shareholders were entitled to $28.25 in cash for each share.

Grew. Revenue grew 6% in 1 year, from $13.2M in FY2012 to $14M in FY2013, about 6% a year.

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