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CLOSED · 06:30 ET
Market ClerkRecap
Sun Oct 25 · markets closed1 signal on Oct 2494 insider buys this week · $48.3MCIRO short report next: Oct 31The week ahead

CCB

COASTAL FINANCIAL CORP
NASDAQ · FINANCIALS · STATE COMMERCIAL BANKS
45.22
+0.32 +0.71%
USD · close Oct 23
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Work order
43
WATCH · shorts 43
Insiders, 90 days
0
no open-market filings in 90 days
Congress, 90 days
0 / 0
no disclosures naming it
Big money
0 / 15
none of the tracked funds disclose it
Calls on record
0
nobody we score has called it yet
MKT CAP $691.2MP/E —DIV YIELD —FCF YIELD 37.91%REV TTM —NET INCOME −$3.9M −108.1%NET CASH —52W 37.54 – 118.97SEC XBRL · TTM TO Invalid Date

How CCB rewrote its risk factors

10-K ITEM 1A · FY2024 → FY2025
Text kept
61%
of sentences unchanged
Added
239
new sentences
Dropped
292
sentences removed
Length
−1,193
words, now 35,410

New in FY2025

  • • changes in business and economic conditions generally and in the financial services industry, nationally and within our market area, particularly in the markets in which we operate and in which our loans are concentrated; • our expected future financial results; • the overall health of the local and national real estate market; • the credit risk associated with our loan portfolio, such as possible additional credit losses and impairment of collectability of loans, specifically with our commercial real estate loans; • changes in market interest rates and impacts of such changes on our profits and business; • our ability to generate and grow revenue through our relationships with digital financial service providers; • our ability to successfully manage liquidity risk; • our ability to implement our growth strategy and manage costs effectively; • our ability to maintain an adequate level of allowance for credit losses; • our level of nonperforming assets and the costs associated with resolving problem loans; • the composition of our senior leadership team and our ability to attract and retain key personnel; • our ability to raise additional capital to implement our business plan; • the occurrence of fraudulent activity, breaches or failures of our information security controls or cybersecurity-related incidents; • interruptions involving our information technology and telecommunications systems or third-party servicers, including as a result of cybersecurity-related incidents; • changes in accounting policies and practices, as may be adopted by the financial institution regulatory agencies or the Financial Accounting Standards Board (“FASB”), including additional guidance and interpretation on accounting issues and details of the implementation of new accounting methods; • our ability to maintain our reputation; • increased competition in the financial services industry; i • regulatory guidance on commercial lending concentrations; • the effectiveness of our risk management framework; • the commencement and outcome of litigation and other legal proceedings and regulatory actions against us or to which we may become subject; • the soundness of other financial institutions and the impacts related to or resulting from bank failures and other economic and industry volatility, including potential increased regulatory requirements and costs and potential impacts to macroeconomic conditions; • the impact of recent and future legislative and regulatory changes and economic stimulus programs and other changes in banking, securities and tax laws and regulations, and their application by our regulators, including as a result of the current administration; • the impact on the Company’s operations due to epidemic illnesses, natural or man-made disasters, such as earthquakes, tsunamis, wildfires and flooding, the effects of regional or national civil unrest, wars and acts of terrorism, and political developments that may disrupt or increase volatility in securities or otherwise affect economic conditions; • fluctuations in the value of the securities held in our securities portfolio; • governmental monetary and fiscal policies; • changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs; • any inability to implement and maintain effective internal control over financial reporting and/or disclosure controls or inability to remediate any material weaknesses in our internal control over financial reporting and/or disclosure controls deemed ineffective; and • our success at managing the risks involved in the foregoing items.
  • If one or more events related to these or other risks or uncertainties materialize, and the impact of any material weakness in our internal control over financial reporting identified in connection with the Company described herein, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate.
  • Our website addresses are www.coastalbank.com and www.ccbx.com.
  • The CCBX segment provides banking as a service (“BaaS”) that allows our digital financial service partners to offer their customers banking services.
  • The CCBX segment had 28 partners as of December 31, 2025.
  • As of December 31, 2025, we had total assets of $4.74 billion, total loans receivable of $3.75 billion, total deposits of $4.14 billion and total shareholders’ equity of $491.0 million.
  • The Puget Sound region, which comprises over 62% of the population of the state of Washington, and approximately 61% of the number of businesses located therein, has a population of approximately 5.1 million, over 147,000 businesses and $155.2 billion of deposits with us and other banking institutions located in the region.
  • Our banking operations are primarily focused on serving customers within Snohomish County and other select areas of the Puget Sound region.
  • Our strategy emphasizes relationship-based banking and targeted growth within our core markets, where we seek to serve the needs of commercial and retail customers and attract stable core deposits to support loan growth.
  • We believe our focus on these markets aligns with our operating model and allows us to deploy resources efficiently while maintaining a disciplined approach to growth.
  • Our CCBX market extends throughout the United States through our digital financial services partners.
  • As of December 31, 2025, the CCBX segment had a total of 28 relationships as indicated in the chart below, at varying stages, including one signed letter of intent as of December 31, 2025.
  • (1) Acquired GreenFi assets during the quarter ended December 31, 2025 (2) Our partner is a subsidiary of a parent entity with broker-dealer subsidiaries.
  • The CCBX segment provides BaaS that allows our digital financial service partners to offer their customers banking services.
  • Our Banking Services Lending Activities We focus primarily on commercial lending in our community bank and primarily consumer and business lending in CCBX.
  • As of December 31, 2025, we had $454.1 million of commercial and industrial loans, representing 12.1% of total loans.
  • Included in the commercial and industrial loan balance is $224.4 million in community bank loans and $229.6 million in CCBX commercial loans.
  • As of December 31, 2025, we held $210.5 million in capital call lines provided to venture capital firms through one of our CCBX partners.
  • Capital call lines represent 46.4% of total commercial and industrial loans, and are included in CCBX commercial and industrial loans.
  • As of December 31, 2025, our total commercial SBA portfolio was $1.6 million, net of $1.3 million in loans sold, with $2.9 million guaranteed by the SBA, and included an immaterial amount of Paycheck Protection Program (“PPP”) loans.
  • As of December 31, 2025, we had $1.29 billion of commercial real estate loans, representing 34.2% of total loans.
  • Loans secured by owner-occupied real estate totaled $386.9 million and comprised 30.1% of our commercial real estate portfolio at December 31, 2025.
  • At December 31, 2025, approximately 32.1% of the commercial real estate loan portfolio consisted of fixed rate loans.
  • As of December 31, 2025, we held $531.1 million in other non-owner occupied loans, excluding multi-family loans, representing 41.3% of our commercial real estate loans and 14.1% of total loans.
  • As of December 31, 2025, we had $367.9 million on multi-family residential loans, representing 28.6% of our commercial real estate loans, and 9.8% of total loans.
  • As of December 31, 2025, we had a total of $829,000, and serviced $908,000 in loans sold to others that are guaranteed by the SBA, in commercial real estate SBA loans.
  • Also included in commercial real estate loans was $93.7 million, representing 7.3% of our commercial real estate loans, and 2.5% of total loans, under the SBA 504 program.
  • As of December 31, 2025, we had $222.1 million in construction, land and land development loans, representing 5.9% of total loans.
  • As of December 31, 2025, we had $466.4 million in residential real estate loans, representing 12.4% of total loans.
  • Included in the residential real estate balance is $202.3 million in community bank loans and $264.1 million in CCBX loans.
  • Included in community bank residential real estate loans are one-to-four family loans to investors to finance their rental properties and to business owners to secure their business loans.
  • As of December 31, 2025, residential real estate loans made to investors and business owners totaled $167.3 million, or 35.9% of our residential real estate loans.
  • The community bank originates one-to-four family adjustable-rate mortgage (“ARM”), loans for our portfolio and operate as a mortgage broker for mortgage lenders we have agreements with for customers who want a 15-year to 30-year, fixed-rate mortgage loan.
  • As of December 31, 2025, the balance of ARM portfolio loans was $36.5 million, or 7.8% of residential real estate loans.
  • The community bank also purchases residential mortgages originated through other financial institutions to hold for investment with the intent to diversify our residential mortgage loan portfolio, meet certain regulatory requirements and increase our interest income.
  • As of December 31, 2025, we held $4.4 million, representing 0.9% of our residential real estate loans, in purchased residential real estate mortgage loans.
  • CCBX loans totaled $264.1 million, or 56.6% of residential real estate loans, as of December 31, 2025.
  • As of December 31, 2025, we had $1.33 billion in total consumer loans, representing 35.4% of total loans.
  • The community bank segment has $14.1 million in consumer loans as of December 31, 2025.
  • Through our CCBX segment we had $1.31 billion in consumer and other loans as of December 31, 2025.

and 199 more.

Gone since FY2024

  • • changes in business and economic conditions generally and in the financial services industry, nationally and within our market area, particularly in the markets in which we operate and in which our loans are concentrated; • our expected future financial results; • the overall health of the local and national real estate market; • the credit risk associated with our loan portfolio, such as possible additional credit losses and impairment of collectability of loans and specifically with our commercial real estate loans; • changes in market interest rates and impacts of such changes on our profits and business; • our ability to generate and grow revenue through our relationships with digital financial service providers; • our ability to successfully manage liquidity risk; • our ability to implement our growth strategy and manage costs effectively; • our ability to maintain an adequate level of allowance for credit losses; • our level of nonperforming assets and the costs associated with resolving problem loans; • the composition of our senior leadership team and our ability to attract and retain key personnel; • our ability to raise additional capital to implement our business plan; • the occurrence of fraudulent activity, breaches or failures of our information security controls or cybersecurity-related incidents; • interruptions involving our information technology and telecommunications systems or third-party servicers, including as a result of cybersecurity-related incidents; • changes in accounting policies and practices, as may be adopted by the financial institution regulatory agencies or the Financial Accounting Standards Board (“FASB”), including additional guidance and interpretation on accounting issues and details of the implementation of new accounting methods; • our ability to maintain our reputation; • increased competition in the financial services industry; i • regulatory guidance on commercial lending concentrations; • the effectiveness of our risk management framework; • the commencement and outcome of litigation and other legal proceedings and regulatory actions against us or to which we may become subject; • the soundness of other financial institutions and the impacts related to or resulting from bank failures and other economic and industry volatility, including potential increased regulatory requirements and costs and potential impacts to macroeconomic conditions; • the impact of recent and future legislative and regulatory changes and economic stimulus programs and other changes in banking, securities and tax laws and regulations, and their application by our regulators, including as a result of the new administration; • the impact on the Company’s operations due to epidemic illnesses, natural or man-made disasters, such as earthquakes, tsunamis, wildfires and flooding, the effects of regional or national civil unrest, wars and acts of terrorism, and political developments that may disrupt or increase volatility in securities or otherwise affect economic conditions; • fluctuations in the value of the securities held in our securities portfolio; • governmental monetary and fiscal policies; • any inability to implement and maintain effective internal control over financial reporting and/or disclosure control or inability to remediate any existing material weaknesses in our internal control over financial reporting and/or disclosure controls deemed ineffective; and • our success at managing the risks involved in the foregoing items.
  • If one or more events related to these or other risks or uncertainties materialize, and the impact of any material weakness in our internal controls over financial reporting identified in connection with the Company described herein, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate.
  • Our website address is www.coastalbank.com.
  • The CCBX segment provides banking as a service (“BaaS”) that allows our broker-dealer and digital financial service partners to offer their customers banking services.
  • The CCBX segment had a total of 24 relationships, at varying stages, including three signed letters of intent as of December 31, 2024.
  • As of December 31, 2024, we had total assets of $4.12 billion, total loans receivable of $3.49 billion, total deposits of $3.59 billion and total shareholders’ equity of $438.7 million.
  • The Puget Sound region, which comprises over 62% of the population of the state of Washington, and approximately 61% of the number of businesses located therein, has a population of approximately 5.0 million, over 138,000 businesses and $155.5 billion of deposits with us and other banking institutions located in the region.
  • We are the largest locally headquartered bank by deposit market share in Snohomish County, according to data from the FDIC as of June 30, 2024, which includes CCBX deposits recorded at Snohomish County locations, at which date we had a 17.5% deposit market share in Snohomish County, which was up from 15.8% in 2023 and 13.0% in 2022.
  • We aim to continuously enhance our customer base, increase loans and deposits and expand our overall market share in Snohomish County.
  • In light of our market position and our business strategy, we do not regularly compete for commercial or retail deposits in the city of Seattle, and we believe this strategic decision has enabled us to generate low-cost core deposits to fund our loan growth.
  • Our CCBX market extends throughout the United States through our broker dealers and digital financial services partners.
  • As of December 31, 2024, the CCBX segment had a total of 24 relationships as indicated in the chart below, at varying stages, including three signed letters of intent as of December 31, 2024.
  • The CCBX segment provides BaaS that allows our broker-dealer and digital financial service partners to offer their customers banking services.
  • Our Banking Services Lending Activities We focus primarily on commercial lending in our community bank and primarily consumer business lending in CCBX.
  • As of December 31, 2024, we had $293.4 million of commercial and industrial loans, representing 8.4% of total loans.
  • Included in the commercial and industrial loan balance is $150.4 million in community bank loans and $143.0 million in CCBX commercial loans.
  • As of December 31, 2024, we held $109.0 million in capital call lines provided to venture capital firms through one of our CCBX partners.
  • Capital call lines represent 37.2% of total commercial and industrial loans, and are included in CCBX commercial and industrial loans.
  • As of December 31, 2024, our total commercial SBA portfolio, excluding Paycheck Protection Program (“PPP”) loans, was $1.8 million, net of $1.9 million in loans sold, with $1.0 million guaranteed by the SBA.
  • As of December 31, 2024, our commercial and industrial loans included $2.26 million in PPP loans.
  • These are SBA loans that allowed small business owners to apply for financial assistance via the PPP as prescribed in the CARES Act.
  • These loans have a contractual rate of 1.0%, with maturity terms of two to five years, are unsecured, 100% guaranteed and loan proceeds may be forgiven by the SBA if used for certain purposes.
  • As of December 31, 2024, we had $1.37 billion of commercial real estate loans, representing 39.4% of total loans.
  • Loans secured by owner-occupied real estate totaled $397.3 million and comprised 28.9% of our commercial real estate portfolio at December 31, 2024.
  • At December 31, 2024, approximately 33.0% of the commercial real estate loan portfolio consisted of fixed rate loans.
  • As of December 31, 2024, we had a total of $1.1 million, and serviced $1.6 million in loans sold to others that are guaranteed by the SBA, in commercial real estate SBA loans.
  • Also included in commercial real estate loans was $107.2 million, or 3.1% of total loans, in loans under the SBA 504 program.
  • As of December 31, 2024, we had $412.0 million on multi-family residential loans, representing 30.0% of our commercial real estate loans, and 11.8% of total loans.
  • As of December 31, 2024, we held $565.5 million in other non-owner occupied loans, excluding multifamily loans, representing 41.1% of our commercial real estate loans and 16.2% of total loans.
  • As of December 31, 2024, we had $148.2 million in construction, land and land development loans, representing 4.2% of total loans.
  • As of December 31, 2024, we had $469.8 million in residential real estate loans, representing 13.4% of total loans.
  • We make one-to-four family loans to investors to finance their rental properties and to business owners to secure their business loans.
  • As of December 31, 2024, residential real estate loans made to investors and business owners totaled $137.1 million, or 29.2% of our residential real estate loans.
  • CCBX loans totaled $267.7 million, or 57.0% of residential real estate loans, as of December 31, 2024.
  • We originate one-to-four family adjustable-rate mortgage (“ARM”), loans for our portfolio and operate as a mortgage broker for mortgage lenders we have agreements with for customers who want a 15-year to 30-year, fixed-rate mortgage loan.
  • As of December 31, 2024, the balance of ARM portfolio loans was $33.0 million, or 7.0% of residential real estate loans.
  • We also purchase residential mortgages originated through other financial institutions to hold for investment with the intent to diversify our residential mortgage loan portfolio, meet certain regulatory requirements and increase our interest income.
  • As of December 31, 2024, we held $6.1 million, representing 1.3% of our residential real estate loans, in purchased residential real estate mortgage loans.
  • As of December 31, 2024, we had $1.21 billion in total consumer loans, representing 34.6% of total loans.
  • The community bank segment has $13.5 million in consumer loans as of December 31, 2024.

and 252 more.

Sentence-level comparison of Item 1A in the two most recent 10-Ks (FY2024 ↗, FY2025 ↗). A reworded sentence counts as one dropped and one added, so heavy edits read as low “kept”. Headings and page furniture are stripped; nothing is summarised by a model.

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