Coastal Financial Q3 net income $13.8 million, $0.89 per share, after Q2 loss
Coastal Financial Corporation reported unaudited net income of $13.8 million, or $0.89 per diluted share, for the quarter ended September 30, 2026, compared with a net loss of $42.1 million in the prior quarter and $13.6 million in the same quarter of 2025. Noninterest expense fell to $84.8 million from $141.1 million in the second quarter, and the company said it has identified up to $20.0 million in potential annualized expense savings.
Key points
- Net income of $13.8 million ($0.89 diluted EPS) versus a net loss of $42.1 million ($2.76 loss per share) in Q2 2026 and $13.6 million ($0.88) in Q3 2025.
- Noninterest expense decreased $56.3 million to $84.8 million, mainly because Q2 included a $46.0 million credit enhancement valuation adjustment related to one partner.
- Bluevine, a CCBX partner, agreed to be acquired by Valley National Bancorp; closing is expected in Q2 2027, and the Bank held $452.4 million in Bluevine deposits on its balance sheet at September 30, 2026.
- Brian Hamilton stepped down as President, and Joel Edwards serves as interim Chief Financial Officer following the August 2026 departure of Brandon Soto.
The filing
Written by AI on Nov 9, 2026, 10:08 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 29, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.