NASDAQ$CCB
Coastal Financial Corporation · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Coastal Financial's performance was marked by significant asset and deposit growth, driven by the expansion of its CCBX division, while net income saw a slight decrease compared to the previous quarter.
Coastal Financial Corporation reported a strong third quarter with significant growth in total assets and deposits. Total assets increased by $444.4 million to $2.45 billion, and total deposits increased by $421.9 million to $2.22 billion. Net income for the quarter was $6.7 million, or $0.54 per diluted common share.
- Total assets increased by $444.4 million, reaching $2.45 billion.
- Total deposits grew by $421.9 million, totaling $2.22 billion.
- Loan growth reached $47.5 million, despite $130.8 million in PPP loan forgiveness.
- Net income amounted to $6.7 million, or $0.54 per diluted common share.
Headline financials
Revenue & EPS history
Coastal Financial · Revenue · Quarterly
$24.9M
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
Management expects net interest margin to fluctuate as PPP loans are forgiven and paid off. They also anticipate an increase in software license, maintenance, and subscription expenses due to investments in automated processing and product line growth for CCBX and CCDB.
Tailwinds
- Continued forgiveness payments from the SBA.
- Ongoing vaccination efforts and increased re-opening of economic activities.
- Successful customer migration from deferral to active status.
- Access to $331.1 million in CCBX customer deposits that are swept off the balance sheet.
- Strong pipeline of potential new CCBX relationships.
Headwinds
- Net interest margin will likely fluctuate over the near term as PPP loans continue to be forgiven and paid off.
- Increased demand deposits and cash on the balance sheet resulting in a lower loan to deposit ratio.
- Market conditions for deposits continued to be competitive.
- The long-term economic impact of the COVID-19 pandemic, political gridlock, and trade issues is unknown.
- Legal and professional fees increased due to CCBX division expenses and higher costs associated with financial reporting.
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 Q3 2021
+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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