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Mar 31, 2022
Coastal Financial Q1 2022 Earnings Report
Reported unaudited financial results with net income of $6.2 million and total assets of $2.83 billion.
Key Takeaways
Coastal Financial Corporation reported strong first quarter results, with net income of $6.2 million, driven by growth in total assets, deposits, and non-PPP loans. The CCBX segment continues to be a significant contributor to the company's growth.
Total assets increased by $198.2 million, reaching $2.83 billion.
Non-PPP loan growth was $283.8 million, representing a 17.3% increase.
Deposit growth of $212.7 million, bringing the total to $2.58 billion.
Total revenue increased by $12.3 million, a 31.7% increase.
Revenue by Segment
Forward Guidance
Management anticipates additional rate increases in 2022, which will result in higher interest expense on interest bearing deposits.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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