Loading...
•
Dec 31, 2022
Coastal Financial Q4 2022 Earnings Report
Coastal Financial reported Q4 2022 results with net income increase and strategic focus on CCBX segment.
Key Takeaways
Coastal Financial Corporation reported a strong fourth quarter in 2022, marked by an increase in net income to $13.1 million, driven by loan growth and higher interest rates. The company's CCBX segment showed significant expansion, while community bank deposits experienced a decrease. Strategic efforts included managing deposit costs and refining CCBX partnerships.
Net income for Q4 2022 increased to $13.1 million, or $0.96 per diluted share.
Total assets reached $3.14 billion, with loan growth of $119.4 million.
CCBX loans increased by $96.9 million, highlighting growth in Banking as a Service.
Deposits decreased slightly, with strategic runoff in community bank deposits to manage costs.
Revenue by Segment
Forward Guidance
The company did not provide forward guidance in the earnings report.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...