Coastal Financial Corporation (CCB)
Coastal Financial Corporation is a regional bank holding company based in Washington State, primarily serving small to medium-sized businesses and retail customers. Through its subsidiary, Coastal Community Bank, it offers a range of banking services including commercial and retail banking, mortgage lending, and community development. The company focuses on personalized service and community-oriented banking within its local markets.
Company News
Coastal Financial Corporation has appointed Brandon Soto as Chief Financial Officer, effective October 1st, 2025. Soto brings extensive financial leadership experience from Square Financial Services and other prominent financial institutions, with a focus on strategic growth and financial operations.
Regional bank stocks, as monitored through the SPDR S&P Regional Banking ETF (NYSE:KRE), continue to trade about 13% lower than they were prior to the collapse of Silicon Valley Bank in March 2023, indicating that investor sentiment has yet to fully regain trust in the industry following last year’s sharp drop. The first-quarter earnings season...
BC, CVI and CCB have been added to the Zacks Rank #5 (Strong Sell) List on February 13, 2023.
These banks are expected to increase their interest margins in 2024, at a time when rising competition for deposits is causing industry profitability to dip.
