COASTAL FINANCIAL CORP CCB
Coastal Financial Corporation ("Company") is a registered bank holding company, whose wholly owned subsidiaries are Coastal Community Bank ("Bank") and Arlington Olympic LLC ("LLC"). The Company is a Washington state corporation that was organized in 2003. The Bank was incorporated and commenced operations in 1997 and is a Washington state-chartered commercial bank and Federal Reserve System ("Federal Reserve") member bank. The LLC was formed in 2019 and owns the Company's Arlington branch, which the Bank leases from the LLC. Our executive offices are located at 5415 Evergreen Way, Everett, Washington 98203, and our telephone number is (425) 257-9000. Our website addresses are www.coastalbank.com and www.ccbx.com. Information on our website should not be considered a part of this Annual Report on Form 10-K.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $429.6M | $396.8M | $323.2M | $192.2M | $83.1M | $63.0M | $48.6M | $38.7M | $32.1M | — |
| Interest expense | $310.1M | $273.0M | $231.6M | $171.8M | $3.6M | $5.7M | $6.6M | $3.9M | $2.9M | — |
| Pre-tax income | $61.2M | $57.3M | $57.1M | $50.6M | $34.4M | $19.1M | $16.7M | $12.2M | $10.1M | — |
| Income tax | $14.3M | $12.1M | $12.6M | $10.0M | $7.4M | $4.0M | $3.5M | $2.5M | $4.7M | — |
| Net income | $47.0M | $45.2M | $44.6M | $40.6M | $27.0M | $15.1M | $13.2M | $9.7M | $5.4M | — |
| EPS, basic | 3.12 | 3.35 | 3.36 | 3.14 | 2.25 | 1.27 | 1.11 | 0.93 | 0.59 | — |
| EPS, diluted | 3.06 | 3.26 | 3.27 | 3.01 | 2.16 | 1.24 | 1.08 | 0.91 | 0.59 | — |
| Shares, diluted (wtd. avg.) | $15.4M | $13.9M | $13.6M | $13.5M | $12.5M | $12.2M | $12.2M | $10.6M | $9.2M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $737.0M | $452.5M | $483.1M | $342.1M | $813.2M | $163.1M | $43.9M | $40.3M | $31.1M | $25.6M |
| Property, plant and equipment | $29.3M | $27.4M | $22.1M | $18.2M | $17.2M | $17.1M | $13.1M | $13.2M | $13.1M | — |
| Other intangibles | $4.5M | $0 | — | — | — | — | — | — | — | — |
| Total assets | $4.74B | $4.12B | $3.53B | $3.45B | $2.64B | $1.77B | $1.13B | $952.1M | $805.8M | — |
| Total liabilities | $4.25B | $3.68B | $3.26B | $3.19B | $2.43B | $1.63B | $1.00B | $843.0M | $740.0M | — |
| Retained earnings | $257.5M | $210.5M | $165.3M | $120.0M | $79.4M | $52.4M | $37.2M | $24.0M | $14.1M | — |
| Total equity | $491.0M | $438.7M | $295.0M | $243.5M | $201.2M | $140.2M | $124.2M | $109.2M | $65.7M | $59.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $254.6M | $259.8M | $191.5M | $67.1M | $29.8M | $19.3M | $13.7M | $14.4M | $7.6M | — |
| Depreciation and amortisation | $6.5M | $4.6M | $2.3M | $1.8M | $1.6M | $1.4M | $1.2M | $1.1M | $993.0K | — |
| Stock-based compensation | $8.6M | $4.8M | $3.7M | $2.5M | $1.3M | $630.0K | $431.0K | $310.0K | $285.0K | — |
| Capital expenditure | $8.4M | $9.9M | $6.2M | $2.8M | $2.6M | $5.4M | $1.2M | $1.1M | $1.1M | — |
| Investing cash flow | -$525.7M | -$608.6M | -$594.0M | -$987.9M | -$239.6M | -$666.5M | -$164.5M | -$139.1M | -$61.8M | — |
| Financing cash flow | $555.5M | $318.2M | $543.5M | $449.8M | $859.8M | $622.3M | $154.5M | $133.9M | $59.7M | — |
| Buybacks | — | — | — | — | — | — | — | — | $3.0K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437958-26-000023.
Others in SIC 6022
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| BNY | Bank of New York Mellon Corp | $111.84B | 22.3x | 7.8% |
| STT | STATE STREET CORP | $53.36B | 20.7x | 7.3% |
| FITB | FIFTH THIRD BANCORP | $49.76B | 15.5x | -5.0% |
| MTB | M&T BANK CORP | $34.64B | 14.1x | 7.5% |
| NTRS | NORTHERN TRUST CORP | $34.15B | 21.4x | 6.1% |
| CFG | CITIZENS FINANCIAL GROUP INC/RI | $29.81B | 18.3x | 6.7% |
| FCNCA | FIRST CITIZENS BANCSHARES INC /DE/ | $25.48B | 13.4x | -2.2% |
| EWBC | EAST WEST BANCORP INC | $17.92B | 13.7x | 2.4% |