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Coastal Financial Corporation operates as the bank holding company for Coastal Community Bank that provides various banking products and services to consumers and small and medium-sized businesses in the Puget Sound region in Washington. It accepts a range of deposit products, including demand and savings accounts, time deposits, and money market accounts. The company also offers commercial and industrial loans, such as term loans, commercial lines of credit, capital call lines working capital loans, equipment financing, borrowing base loans, small business administration loans, and other loan products; owner and non-owner-occupied real estate loans, and multi-family residential loans; construction and development loans; residential real estate loans; and consumer and other loans, including automobile, boat and recreational vehicle, and secured term loans, as well as personal lines of credit, including overdraft protection. In addition, it provides remote deposit capture, online and mobile banking, and direct and reciprocal deposit services; and debit cards. Further, the company offers business accounts and cash management services, including business checking and savings accounts, and treasury services, as well as Banking as a Service (BaaS), a platform that allows digital financial service partners to offer their customers banking services. The company was founded in 1997 and is headquartered in Everett, Washington.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $405M | - | $47M | $246M | 9.6% | -10.7% | 3.9% |
| 2024 | $453M | - | $45M | $250M | 10.3% | 29.8% | 1.4% |
| 2023 | $349M | - | $45M | $185M | 15.1% | 64.6% | 9.7% |
| 2022 | $212M | - | $41M | $64M | 16.7% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 211.85 | 348.78 | 452.86 | 404.57 |
| Pretax Income | 50.62 | 57.13 | 57.32 | 61.24 |
| Tax Provision | 10 | 12.55 | 12.10 | 14.25 |
| Net Income | 40.62 | 44.58 | 45.22 | 46.99 |
| Net Income Common Stockholders | 40.62 | 44.58 | 45.22 | 46.99 |
| Interest Expense | 20.39 | 91.64 | 123.75 | 119.55 |
| Interest Income | 191.82 | 322.83 | 396.34 | 429.09 |
| Selling General And Administration | 57.52 | 72.14 | 75.39 | 92.59 |
| Normalized Income | 40.62 | 44.58 | 45.22 | 46.99 |
| Basic EPS | 3.14 | 3.36 | 3.35 | 3.12 |
| Diluted EPS | 3.01 | 3.27 | 3.25 | 3.04 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.20 | 0.22 | 0.21 | 0.23 |
| Total Unusual Items | 0 | 0 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 40.62 | 44.58 | 45.22 | 46.99 |
| Reconciled Depreciation | 1.81 | 2.33 | 4.55 | 6.51 |
| Net Interest Income | 171.43 | 231.19 | 272.59 | 309.53 |
| Net Income From Continuing And Discontinued Operation | 40.62 | 44.58 | 45.22 | 46.99 |
| Diluted Average Shares | 13.51 | 13.64 | 13.88 | 15.45 |
| Basic Average Shares | 12.95 | 13.26 | 13.51 | 15.05 |
| Diluted NI Availto Com Stockholders | 40.62 | 44.58 | 45.22 | 46.99 |
| Net Income Including Noncontrolling Interests | 40.62 | 44.58 | 45.22 | 46.99 |
| Net Income Continuous Operations | 40.62 | 44.58 | 45.22 | 46.99 |
| Special Income Charges | 0 | 0 | 0 | 0 |
| Gain On Sale Of Business | 0 | 0 | 0 | 0 |
| Gain On Sale Of Security | -0.15 | 0.28 | 0.03 | -0.41 |
| Selling And Marketing Expense | 0.72 | 1 | 0.49 | 0.98 |
| General And Administrative Expense | 56.80 | 71.14 | 74.90 | 91.61 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Insurance And Claims | 2.86 | 2.52 | 2.86 | 3.18 |
| Salaries And Wages | 53.94 | 68.61 | 72.04 | 88.43 |
| Operating Revenue | 211.85 | 348.78 | 452.86 | 404.57 |
| Occupancy And Equipment | 4.22 | 4.17 | 3.94 | 3.99 |
| Professional Expense And Contract Services Expense | 6.76 | 14.80 | 15.51 | 20.25 |
| Other Non Interest Expense | 13.67 | 16.55 | 23.11 | 33.86 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Coastal Financial Corporationthis co. | CCB | $1.2B | 23.59↑ premium | 2.33 | 9.6% | - |
| Trupanion, Inc. | TRUP | $1.2B | 61.37 | 3.11 | 5.1% | 22.61 |
| Community Trust Bancorp, Inc. | CTBI | $1.2B | 11.39 | 1.36 | 11.5% | - |
| Tompkins Financial Corporation | TMP | $1.2B | 7.37 | 1.26 | 17.2% | - |
| First Mid Bancshares, Inc. | FMBH |
| $1.1B |
| 11.23 |
| 1.08 |
| 9.6% |
| - |
| Atlanticus Holdings Corporation | ATLC | $1.1B | 12.87 | 1.88 | 20.2% | - |
| Safety Insurance Group, Inc. | SAFT | $1.1B | 11.25 | 1.25 | 11.1% | - |
| Porch Group, Inc. | PRCH | $1.1B | - | -43.48 | -15.0% | 19.23 |
| Metropolitan Bank Holding Corp. | MCB | $1.1B | 10.96 | 1.20 | 9.6% | - |
| Peer Median | - | 11.25 | 1.26 | 10.3% | 20.92 | |