Coastal Financial Corporation reported a net income of $3.6 million, or $0.30 per diluted common share, for the fourth quarter of 2019, compared with $3.5 million, or $0.29 per diluted common share, for the third quarter of 2019. The company's return on average equity was 11.66% for the fourth quarter of 2019. Total assets increased to $1.13 billion at December 31, 2019.
Net income for Q4 2019 was $3.6 million, or $0.30 per diluted common share.
Net interest income for Q4 2019 was $11.3 million, an increase of 14.6% from Q4 2018.
Total assets increased to $1.13 billion at December 31, 2019, up 18.5% from December 31, 2018.
The company is introducing its CCBX Division, providing Banking as a Service (BaaS).
The investments we are making today are not for immediate returns but for longer-term returns that we believe will build value for shareholders while benefiting our customers, employees, and communities we serve
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