Earnings Releases·Oct 29, 2026, 6:38 AM ET

Coastal Financial Corporation — Third Quarter 2026 Earnings Summary

Net income rebounded to $13.8 million ($0.89 per diluted share) in Q3 2026, reversing a $42.1 million loss in Q2 and slightly exceeding the $13.6 million reported in Q3 2025, driven by a 50% reduction in the provision for credit losses to $46.0 million.
Total assets and deposits declined 3.3% and 3.8% respectively to $5.28 billion and $4.68 billion, primarily due to the sale of $5.99 billion in loans and a strategic shift toward off-balance sheet sweep arrangements, though CCBX fee income grew 17.6% quarter-over-quarter.
Management projects up to $20.0 million in annualized noninterest expense savings over the next 4–6 quarters and anticipates continued noninterest income growth, while noting the Bluevine partnership will terminate in Q2 2027 without material liquidity impact.
Leadership executed a 43% salary reduction for the CEO and appointed interim CFO Joel Edwards, while the company maintained strong capital ratios (CET1 at 11.47%) and contributed $25.0 million in capital to the bank.