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Dec 31, 2019
Coastal Financial Q4 2019 Earnings Report
Coastal Financial reported an increase in net income, total loans receivable, and deposits for the fourth quarter and year ended December 31, 2019.
Key Takeaways
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).
Forward Guidance
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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