NASDAQ$CCB
Coastal Financial Corporation · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Achieved strong financial results driven by growth in loans and deposits.
Coastal Financial Corporation reported a net income of $12.9 million for the quarter ended June 30, 2023. The company's Return on Average Assets was 1.52% and Return on Average Equity was 19.53%. Total assets reached $3,535.3 million, with loans receivable at $3,007.6 million and deposits at $3,162.6 million.
- Net income was $12.9 million.
- Deposits increased by $67.3 million during the quarter.
- Loans receivable reached $3,007.6 million.
- CCBX deposit growth was $89.3 million.
Headline financials
Revenue & EPS history
Coastal Financial · Revenue · Quarterly
$121M
Revenue by segment
Coastal Financial · $40.1M total across 1 segment · Q2 2023
- Community Bank$40.1M+112.4%100.0%
Forward guidance
Noninterest expense includes elevated levels of legal and professional fees due to increased fees related to data and risk management, building out our infrastructure and increased consulting expenses for projects and enhanced monitoring. These expenses are expected to level off for 3Q23 and decline to approximate 1Q23 levels by 1Q24.
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 Q2 2023
+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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