NASDAQ$CCB
Coastal Financial Corporation · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Announced first quarter 2020 results.
Coastal Financial Corporation reported a net income of $2.7 million for Q1 2020, a slight decrease from $2.8 million in Q1 2019. The results were impacted by a $1.6 million loan loss provision due to loan growth and economic uncertainties related to the COVID-19 pandemic, but benefited from annualized loan growth of 28.3% and deposit growth of 15.4%.
- Net income totaled $2.7 million, or $0.22 per diluted common share, a decrease of 3.0% from $2.8 million, or $0.23 per diluted common share, for the quarter ended March 31, 2019.
- Total assets were $1.18 billion and grew at an annualized rate of 19.8% during the quarter ended March 31, 2020, compared to total assets of $1.13 billion at December 31, 2019.
- Total loans receivable grew at an annualized rate of 28.3% during the quarter ended March 31, 2020 to $1.01 billion compared to $939.1 million at December 31, 2019.
- Total deposits increased at an annualized rate of 15.4% during the quarter ended March 31, 2019 to $1.01 billion, compared to $968.0 million at December 31, 2019.
Headline financials
Revenue & EPS history
Coastal Financial · Revenue · Quarterly
$14M
Revenue by segment
Coastal Financial · $60.3M total across 2 segments · Q3 2023
- CCBX$41M+30.3%68.0%
- Community Bank$19.3M-15.1%32.0%
Forward guidance
The company is focused on managing and innovating towards an enhanced future, combining the stability of the bank and the additional sources of income from the CCBX division to emerge stronger.
Tailwinds
- Working diligently with the SBA to offer assistance to small businesses.
- Taking a proactive approach on restructuring payments for loan customers.
- Committed to following the guidelines set forth by government and public health officials.
- Taken measures to protect the health and safety of employees.
- Management expects to be able to manage the economic risks and uncertainties.
Headwinds
- Global COVID-19 pandemic impacting the physical and economic health.
- Pandemic related disruptions occurred late in the period.
- Increased loan loss provision expense due to loan growth and economic uncertainties.
- Lower interest rates on loans combined with reduced balances on investment securities.
- Economic impact of the global pandemic, trade issues, and decline in oil prices is unknown.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
+1.8%
Avg return
Earnings day
+1.0%
Avg return
5 days after
+3.7%
Avg return
30 days after
69%
24 / 35 earnings
Positive
+10.4%
Q1 2023
Best reaction
-9.0%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +4.0% | -15.2% | -18.0% | |
| Q4 2025 | +0.1% | -11.3% | -26.5% | |
| Q3 2025 | -3.4% | -1.3% | +2.8% | |
| Q1 2025 | +0.3% | +3.7% | +3.8% | |
| Q4 2024 | +6.8% | +0.4% | -2.6% | |
| Q3 2024 | +10.4% | +8.2% | +32.1% | |
| Q2 2024 | +0.1% | -7.0% | -0.5% | |
| Q1 2024 | -4.7% | +3.2% | +6.0% | |
| Q4 2023 | -6.6% | -8.8% | -10.2% | |
| Q3 2023 | -9.0% | -9.7% | -1.9% | |
| Q2 2023 | -3.0% | -6.2% | -8.3% | |
| Q1 2023 | +10.4% | +2.8% | +8.2% | |
| Q4 2022 | +3.9% | +8.4% | +5.2% | |
| Q3 2022 | +9.9% | +15.6% | +18.4% | |
| Q2 2022 | +4.6% | +3.8% | +2.9% | |
| Q1 2022 | +1.1% | -0.0% | -4.0% | |
| Q4 2021 | -3.9% | +1.8% | -2.9% | |
| Q3 2021 | +3.7% | +11.3% | +27.0% | |
| Q2 2021 | +3.1% | +1.5% | +3.7% | |
| Q1 2021 | +5.7% | +7.2% | +11.9% | |
| Q4 2020 | -1.7% | -3.7% | +31.8% | |
| Q3 2020 | +7.0% | +15.7% | +32.1% | |
| Q2 2020 | -2.8% | -2.1% | +0.7% | |
| Q1 2020 | +8.6% | -3.3% | +17.8% | |
| Q4 2019 | +1.6% | +2.3% | -4.2% | |
| Q3 2019 | +0.3% | -0.1% | +12.0% | |
| Q2 2019 | +4.2% | +3.5% | -3.4% | |
| Q1 2018 | -0.1% | -2.4% | -2.5% | |
| Q1 2019 | +1.5% | -0.8% | -1.6% | |
| Q2 2018 | +6.8% | +7.1% | +2.3% | |
| Q4 2017 | +6.8% | +7.1% | +2.3% | |
| Q4 2018 | +0.9% | -2.5% | +10.1% | |
| Q3 2017 | -1.1% | +1.0% | -13.3% | |
| Q3 2018 | -4.6% | -0.9% | -4.4% | |
| Q2 2017 | +2.3% | +5.3% | +3.8% | |
| Q1 2017 | — | — | — |
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