COASTAL FINANCIAL CORP — Form 8-K
Filed October 29, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 52/100
What the filing says
Coastal Financial reported Q3 2026 net income of $13.8M (EPS $0.89), recovering from a $42.1M loss in Q2 driven by one partner's credit deterioration. Total assets decreased to $5.28B; loans held flat at $4.19B despite $5.99B in quarterly loan sales. Key positive: BaaS program fee income grew 79.6% YoY to $14.1M; CCBX deposits (on + off-balance sheet) totaled $10.3B, up 28.1% YoY. Critical development: Bluevine partner, representing $452.4M on-balance deposits + $1.85B swept deposits, expected to be acquired by Valley National Bancorp and terminate by Q2 2027.
Why this rating
Recovery from credit crisis is positive, but Bluevine loss (~$2.3B deposits, ~18% of deposit base) in 6 months is material relative to $1.3B market cap. BaaS growth offsetting. Mixed.
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