Coastal Financial Corporation

Coastal Financial Corporation is the bank holding company for Coastal Community Bank, which provides a range of banking products and services to consumers and small to medium-sized businesses in the Puget Sound region of Washington. Its offerings include deposit products such as demand and savings accounts, time deposits, and money market accounts. On the lending side, it provides commercial and industrial loans like term loans, lines of credit, equipment financing, and SBA loans, as well as real estate loans for owner-occupied, non-owner-occupied, multi-family, construction, and residential properties. Consumer loans include auto, boat, RV, and secured term loans, plus personal lines of credit. The bank also offers remote deposit capture, online and mobile banking, debit cards, and cash management services. A notable part of its business is Banking as a Service (BaaS), a platform that enables digital financial service partners to offer banking services to their customers.

Coastal Financial Corporation is listed on the NasdaqGS exchange under the ticker symbol CCB. The company's financials are reported in US Dollars (USD), as it is based in the United States. Being listed on NasdaqGS, a major US stock exchange, provides liquidity and visibility to investors. The currency used for all transactions, dividends, and financial reporting is USD, which is standard for US-based companies. This listing allows investors to trade shares of CCB during regular market hours, and the company's performance is benchmarked against other regional banks in the US financial sector.

Coastal Financial Corporation operates in the Financial Services sector, specifically within the Banks - Regional industry. This means it is a regional bank that focuses on serving local communities, in this case, the Puget Sound region of Washington. As a regional bank, it offers traditional banking services like deposits and loans but operates on a smaller scale compared to national or global banks. The 'Banks - Regional' industry classification indicates that its primary business is taking deposits and making loans, with a focus on commercial and residential real estate lending, as well as consumer and small business loans. This sector and industry are heavily regulated and influenced by interest rates, economic conditions, and local market dynamics.

Coastal Financial Corporation is headquartered in Everett, Washington, United States. It serves the Puget Sound region, which includes the metropolitan areas of Seattle, Tacoma, and surrounding communities. The bank focuses on consumers and small to medium-sized businesses within this region, offering localized banking services. The Puget Sound area is known for its diverse economy, including technology, aerospace, and trade. By concentrating on this region, Coastal Financial can build strong relationships and understand the specific needs of its customers. The company was founded in 1997, giving it over two decades of experience in the local market.

Coastal Financial Corporation generates revenue primarily through net interest income, which is the difference between interest earned on loans and interest paid on deposits. Its loan portfolio includes commercial and industrial loans, real estate loans (owner-occupied, non-owner-occupied, multi-family, construction, and residential), and consumer loans. It also earns fee income from deposit services, cash management, and its Banking as a Service (BaaS) platform. The BaaS platform allows digital financial service partners to offer banking services to their customers, generating fee-based revenue. Additionally, the bank earns income from service charges on accounts, debit card interchange fees, and other ancillary services. The company's focus on relationship banking and local market knowledge helps it maintain a stable deposit base and manage credit risk effectively.