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Dec 31, 2020
Coastal Financial Q4 2020 Earnings Report
Reported unaudited financial results for the quarter and year ended December 31, 2020.
Key Takeaways
Coastal Financial Corporation reported a net income of $4.7 million, or $0.38 per diluted common share, for the fourth quarter of 2020, compared with net income of $3.6 million, or $0.30 per diluted common share, for the quarter ended December 31, 2019.
Net income for the fourth quarter of 2020 was $4.7 million, or $0.38 per diluted common share.
Net interest income was $16.9 million for the quarter ended December 31, 2020, an increase of 49.4% from $11.3 million for the quarter ended December 31, 2019.
Non-PPP loan growth was $122.0 million, or 11.5%, for the quarter ended December 31, 2020.
Total assets grew to $1.77 billion for the year ended December 31, 2020, compared to $1.13 billion at December 31, 2019.
Forward Guidance
The road ahead may be uncertain, but we are dedicated to strengthening existing relationships and embracing new opportunities for growth by continuing to focus on our three prong strategy of growing our core community bank, growing CCBX, our BaaS division, and building CCDB, our digital banking division.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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