Coastal Financial Corp (EVERETT)
ir.coastalbank.comWhat Do They Do?
Provides banking services through digital financial service partners to their consumers and businesses; also offers loans and deposit services to consumers and small and medium-sized businesses in Puget Sound.
10-K for FY2025, filed Feb 27, 2026
How Do They Make Money?
The bank earns interest on loans; digital financial service providers pay monthly fees and reimburse specified expenses for banking services.
10-K for FY2025, filed Feb 27, 2026
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10-K for FY2025, filed Feb 27, 2026
FY2025 revenue by reportable segment ↗
$429.6M
-
10-K for FY2025, filed Feb 27, 2026
$429.6M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Community Bank
Recurring
10-K for FY2025, filed Feb 27, 2026 |
29%
FY2022: 42%
|
Community Bank, FY2025
$123M Sources
|
Recurring |
|
CCBX
Recurring
10-K for FY2025, filed Feb 27, 2026 |
64%
FY2022: 54%
|
CCBX, FY2025
$274.6M Sources
|
Recurring |
|
Treasury & Administration
|
7.5%
FY2022: 4.6%
|
Treasury & Administration, FY2025
$32.1M Sources
|
Who Are Their Customers?
Consumers and small and medium-sized businesses use the community bank directly. Digital financial service partners make the bank’s services available to consumers and businesses through their platforms.
10-K for FY2025, filed Feb 27, 2026We are headquartered in Everett, Washington, which by population is the largest city in, and the county seat of, Snohomish County. Our…View ↗
Our CCBX market extends throughout the United States through our digital financial services partners. Our CCBX partners make our banking…View ↗
As defined in ASC 280, Segment Reporting, an operating segment is a component of an enterprise that engages in business activities from…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 11 cents of every revenue dollar as net income in FY2025 and turned 57 cents into free cash flow.
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 7, 2026
−$42.1MView ↗
- ▼ Now a loss
- vs $11M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 7, 2026
Open tableView ↗
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Jul 30, 2026
Appointed an executive chair of the board
Christopher D. Adams became Executive Chair and continues as board chair.
Sources
8-K, filed Jul 30, 2026
On July 29, 2026, Coastal Financial Corporation (the “Company”) appointed Christopher D. Adams as Executive Chair of the Board of Directors…View ↗
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Jul 23, 2026
CFO to step down; interim CFO appointed
Brandon Soto will leave the CFO role, and Joel Edwards will serve as interim CFO while the company searches for a permanent CFO.
Sources
8-K, filed Jul 23, 2026
On July 22, 2026, Coastal Financial Corporation (the “Company”), announced that Brandon Soto, Executive Vice President and Chief Financial…View ↗
Growing. Revenue grew 5.2x in 4 years, from $83.1M in FY2021 to $429.6M in FY2025, about 51% a year.
CCBX partner types
The older report described CCBX as serving broker-dealer and digital financial service partners; the latest identifies digital financial service providers, companies and brands as organizations offering banking services to customers.
10-K for FY2022, filed Mar 16, 2023 10-K for FY2025, filed Feb 27, 2026We are headquartered in Everett, Washington, which by population is the largest city in, and the county seat of, Snohomish County. Our…View ↗
As defined in ASC 280, Segment Reporting, an operating segment is a component of an enterprise that engages in business activities from…View ↗
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