Coastal Financial Corporation Q3 2024 net income increased to $13.5m from $11.6m in Q2, driven by banking services.
Coastal Financial Corporation, which operates Coastal Community Bank, reported a net income of $13.5 million for Q3 2024, up from $11.6 million in Q2. This growth is attributed to strong performance in its banking services. The company remains liability-sensitive, with significant deposits and loans set to reprice with lower Federal Funds rates. Coastal is expanding product offerings with existing partners while managing risk through strategic loan sales and investments in compliance infrastructure.
October 28, 2024
6 Articles