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Dec 31, 2021
Coastal Financial Q4 2021 Earnings Report
Coastal Financial Corporation announced Q4 and year end 2021 results
Key Takeaways
Coastal Financial Corporation reported a net income of $7.3 million for the fourth quarter of 2021, an increase of 9.1% compared to the previous quarter. The company experienced strong deposit growth and non-PPP loan growth during the quarter. Total assets increased to $2.64 billion, and the company completed a successful public offering of common stock.
Non-PPP loan growth of $186.8 million, or 12.9%.
Deposit growth of $140.2 million, or 6.3%, to $2.36 billion.
Successful public offering of common stock closed with gross proceeds of $34.5 million.
Net income increased $606,000, or 9.1%, to $7.3 million.
Revenue by Segment
Forward Guidance
The Company had tremendous interest and success with our public offering of common stock during the fourth quarter of 2021. The offering closed on December 17, 2021, with gross proceeds of $34.5 million, before deducting underwriting discounts and offering expenses. These proceeds will help support investment and growth opportunities for the Company and Bank.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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