← COASTAL FINANCIAL CORP
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total interest income | $38.7m |
$48.6m
+25.41%
|
$63.0m
+29.74%
|
$83.1m
+31.80%
|
$192.2m
+131.30%
|
$330.4m
+71.92%
|
$396.8m
+20.10%
|
$429.6m
+8.28%
|
— | |
| Gain on sales of loans, net | $264k | $490k | $82k | $396k | $0 | $253k | $0 | $0 | — | |
| Revenue from contract with customer | $8.3m | $11.6m | $12.9m | $30.3m | $36.3m | $227.2m | $332.0m | $264.3m | $458.2m | |
| Noninterest income, excluding BaaS program income and BaaS indemnification income | — | — | — | $10.8m | $5.8m | $6.0m | $5.5m | $6.5m | $128.7m | |
| Total noninterest income | $5.5m | $8.3m | $8.2m | $28.1m | $124.7m | $207.2m | $308.2m | $231.6m | — | |
| Net interest income | $34.8m |
$42.0m
+20.66%
|
$57.4m
+36.60%
|
$79.4m
+38.43%
|
$171.8m
+116.24%
|
$238.7m
+38.98%
|
$273.0m
+14.37%
|
$310.1m
+13.57%
|
$329.4m
+6.25%
|
|
| Salaries and employee benefits | $16.0m | $19.0m | $23.3m | $37.1m | $52.2m | $66.5m | $70.1m | $85.8m | — | |
| Noninterest expense, excluding BaaS loan and BaaS fraud expense | — | — | — | $58.8m | $83.9m | $110.7m | $117.9m | $150.7m | $215.5m | |
| Total noninterest expense | $26.2m | $31.1m | $38.1m | $63.3m | $166.8m | $204.8m | $246.3m | $287.8m | — | |
| Total interest expense | $3.9m | $6.6m | $5.7m | $3.6m | $20.4m | $91.6m | $123.7m | $119.6m | — | |
| Net interest income/(expense) after provision for credit losses | $33.0m |
$39.5m
+19.63%
|
$49.1m
+24.35%
|
$69.5m
+41.66%
|
$92.7m
+33.35%
|
$54.7m
-40.96%
|
($4.6m)
-108.37%
|
$117.4m
+2664.62%
|
$329.4m
+180.53%
|
|
| Unrealized gain (loss) on equity securities, net | — | — | ($400k) | $1.5m | ($153k) | $279k | $27k | ($414k) | — | |
| Other income | $519k | $487k | $141k | $939k | $1.1m | $884k | $1.5m | $3.3m | — | |
| Other expense | $2.0m | $2.4m | $3.7m | $3.8m | $4.7m | $5.2m | $6.5m | $7.5m | — | |
| Income before provision for income taxes | $12.2m | $16.7m | $19.1m | $34.4m | $50.6m | $57.1m | $57.3m | $61.2m | — | |
| PROVISION FOR INCOME TAXES | $2.5m | $3.5m | $4.0m | $7.4m | $10.0m | $12.6m | $12.1m | $14.3m | ||
| NET INCOME | $9.7m |
$13.2m
+36.08%
|
$15.1m
+14.73%
|
$27.0m
+78.30%
|
$40.6m
+50.44%
|
$44.6m
+9.73%
|
$45.2m
+1.44%
|
$47.0m
+3.92%
|
($3.9m)
-108.19%
|
|
| Basic earnings per common share (in usd per share) | $0.93 | $1.11 | $1.27 | $2.25 | $3.14 | $3.36 | $3.35 | $3.12 | — | |
| Diluted earnings per common share (in usd per share) | $0.91 | $1.08 | $1.24 | $2.16 | $3.01 | $3.27 | $3.26 | $3.06 | — | |
| Basic (in shares) | $10.4m | $11.9m | $11.9m | $12.0m | $12.9m | $13.3m | $13.5m | $15.1m | $15.2m | |
| Diluted (in shares) | $10.6m | $12.2m | $12.2m | $12.5m | $13.5m | $13.6m | $13.9m | $15.4m | $15.3m | |
| Interest and fees on loans | $36.5m | $45.4m | $61.9m | $82.1m | $183.4m | $311.4m | $372.0m | $397.6m | — | |
| Interest on interest earning deposits with other banks | $1.4m | $2.4m | $663k | $608k | $6.7m | $15.3m | $21.3m | $29.0m | — | |
| Interest on investment securities | $618k | $635k | $230k | $79k | $1.7m | $3.2m | $3.1m | $2.5m | — | |
| Dividends on other investments | $156k | $179k | $235k | $284k | $345k | $387k | $435k | $531k | — | |
| Interest on deposits | $3.1m | $5.8m | $4.3m | $2.3m | $19.0m | $89.0m | $120.9m | $116.9m | — | |
| Interest on borrowed funds | $785k | $774k | $1.4m | $1.3m | $1.4m | $2.6m | $2.8m | $2.6m | — | |
| PROVISION FOR CREDIT LOSSES | $9.9m | $79.1m | $184.0m | $277.6m | $192.6m | |||||
| Service charges and fees | — | — | — | $3.7m | $3.8m | $3.9m | $3.7m | $3.6m | — | |
| Loan referral fees | — | — | — | $2.1m | $810k | $683k | $168k | $0 | — | |
| Occupancy | $3.3m | $3.8m | $4.0m | $4.1m | $4.5m | $4.9m | $3.9m | $4.0m | $3.8m | |
| Data processing and software licenses | — | — | $1.3m | $2.8m | $6.5m | $8.6m | $15.3m | $23.5m | — | |
| Legal and professional expenses | $677k | $1.1m | $1.8m | $3.1m | $6.8m | $14.8m | $15.5m | $20.3m | — | |
| Point of sale expense | $2.0m | $2.1m | $2.3m | $3.0m | $2.1m | $3.5m | $325k | $350k | — | |
| Excise taxes | $559k | $719k | $1.1m | $1.6m | $2.2m | $2.0m | $1.2m | $2.9m | — | |
| Federal Deposit Insurance Corporation ("FDIC") assessments | $295k | $184k | $522k | $1.6m | $2.9m | $2.5m | $2.9m | $3.2m | — | |
| Director and staff expenses | $701k | $1.0m | $800k | $1.2m | $1.7m | $2.2m | $2.1m | $2.7m | — | |
| Marketing | $391k | $393k | $317k | $451k | $351k | $517k | $162k | $631k | — | |
| BaaS loan and fraud expense | — | — | $294k | $4.5m | $82.9m | $94.1m | $128.4m | $137.1m | — |