Coastal Financial Corporation — Third Quarter 2026 Earnings Summary

Coastal Financial Corporation reported a net income of $13.8 million, or $0.89 per diluted share, for the third quarter of 2026, marking a return to profitability following a significant loss in the second quarter. The Banking as a Service (CCBX) segment drove growth with fee income rising 79.6% year-over-year to $14.1 million, while off-balance sheet credit card accounts increased by 236% to 1.3 million. Noninterest expenses decreased significantly to $84.8 million due to the absence of a $46.0 million credit enhancement valuation adjustment recorded in the prior quarter. The company maintained strong capital positions with a common equity Tier 1 ratio of 11.47% and reduced nonperforming assets to $60.5 million.