Coastal Community Bank

What Coastal Community Bank does

Coastal Community Bank is a Washington state-chartered, FDIC-insured community bank and the primary operating subsidiary of Coastal Financial Corporation (NASDAQ: CCB). Founded in 1997 (per firmographic records; company timeline cites 2004), the bank is headquartered in Everett, Washington, and operates a network of physical branches across Washington State — including locations in Everett, Arlington, Edmonds, Marysville, Monroe, Snohomish, Stanwood, Woodinville, and a Seattle Lending Office — serving retail consumers, small and medium businesses, and local non-profits with deposit accounts, home loans, business loans, treasury management, mobile banking, IRAs, and credit card processing.

Beyond traditional community banking, the bank has built a Banking-as-a-Service (BaaS) platform called CCBX (Coastal Community Bank Express) that white-labels its banking charter, FDIC insurance, Visa card issuance, and lending infrastructure to fintech partners. Documented CCBX partners include Robinhood (banking deposits reaching $3 billion and 200,000+ customers), Dave Inc. (ExtraCash funding transitioning to the bank effective June 1, 2026, unlocking over $200 million in liquidity, with planned extension to Dave's Flex card), Aven (Bitcoin-backed Visa credit card with credit lines up to $1 million at 7.99% APR, collateral custodied by BitGo), Pliant (Berlin-based B2B payments), and Tempo (Stripe- and Paradigm-backed stablecoin initiative). The bank has also entered a non-binding term sheet to acquire BaaS assets and deposits from Evolve Bank & Trust (announced April 29, 2026) and acquired GreenFi, a climate-focused banking and investment provider, on January 12, 2026.

Coastal Financial Corporation reported FY2025 total revenue of $429.6 million and net income of $47.0 million, with net interest income of $310.1 million rising 13.6% year-over-year, driven by growth in the CCBX BaaS segment. With $4 billion in total assets, the bank sits among the top 20 U.S. banks by asset size and operates with a regulatory capital base that can absorb multi-partner BaaS obligations. The bank has deployed the Databricks AI Security Framework (DASF) across its BaaS operations, achieving 94% accuracy in customer complaints classification with 100% record coverage, a 66% reduction in vendor due diligence review time, and a unit cost of $1.05 per million-token corpus. Leadership comprises founder Eric Sprink as President and CEO, John Dickson as Chief Operating Officer, and Joel Edwards as EVP and CFO.

Name

Coastal Community Bank

Legal name

Coastal Community Bank

Website

https://Coastalbank.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

251–500 employees

Short description

Coastal Community Bank is an FDIC-insured Washington state-chartered bank and subsidiary of Coastal Financial Corporation (NASDAQ: CCB), operating 14-17 branches in Washington State for retail and SMB banking while running a Banking-as-a-Service (CCBX) platform serving fintech partners including Robinhood, Dave, and Aven.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (522110)

SIC

State Commercial Banks (6022)

akta.pro primary industry

BaaS Platforms & Sponsor Bank Enablement (FSAGALAA)

akta.pro secondary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

Keywords

• Community banking
• Banking-as-a-service
• Commercial lending
• Treasury management
• Retail deposits

Headquarters

HQ city

Everett

HQ country

United States

HQ region

North America

Offices17 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Net Interest Income: Interest income earned on loans and other interest-bearing assets. Coastal Financial Corporation reported net interest income of $310.1 million, rising 13.6% year-over-year, driven by growth in its CCBX BaaS segment.
2. Banking-as-a-Service (BaaS) Fees: Fee income generated from fintech partners utilizing the CCBX BaaS platform, including card issuance fees, deposit processing, and other embedded finance services. Part of the CCBX segment growth driving net interest income expansion.
3. Traditional Banking Services: Revenue from deposit accounts, business and personal loans, credit card processing, treasury management, and other conventional banking products offered through the bank's branch network and digital channels.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Coastal Community Bank provides traditional community banking products including business and personal checking, savings, loans, treasury management, and credit card processing through a network of 14 physical branches across Washington State. It also operates a Banking-as-a-Service (BaaS) platform via its CCBX division that white-labels FDIC-insured banking infrastructure to fintech partners such as Robinhood, Dave, and Aven, enabling embedded deposit, credit card, and lending products.

Product overview

Coastal Community Bank operates as a multi-product financial institution with a traditional community banking division offering business and personal banking services (checking, savings, loans, treasury management, home loans, IRAs, mobile banking), and a BaaS platform called CCBX that enables fintech partners to offer embedded banking products. The bank's fintech-issued products include the Aven Bitcoin Visa Card (bitcoin-backed credit lines up to $1M at 7.99% APR), Robinhood Platinum Card (premium credit card with $695 annual fee), Aven Rewards Card (3%/6% cash back), and Robinhood Banking deposits. The CCBX platform serves as the infrastructure backbone for these partnerships, while the traditional banking division maintains physical branch locations in Washington State.

Differentiator

Problem solved

Functional benefit

Brands

• CCBX: Banking-as-a-service (BaaS) platform providing embedded finance infrastructure solutions for fintech companies, enabling partners to offer banking products under their own brands.
• ZSuite Technologies

Products and services

• Business Checking Business checking accounts with online and mobile accessibility for all types of businesses and non-profits.
• Business Savings Traditional savings accounts, Certificates of Deposit, and Money Market Accounts to fuel business growth.
• Business Loans Business financing solutions including term loans, commercial loans, and lines of credit.
• Business Online Banking Secure online portal providing anytime, anywhere access to business bank accounts, bill pay, and statements.
• Treasury Management Financial solutions for daily business operations including fraud management, ACH processing, online banking controls, and sweeps.
• Credit Card Processing Merchant services enabling businesses to accept payments online, in-store, or on the go, including e-commerce and mobile solutions.
• IntraFi Cash Service Provides access to additional FDIC insurance on large deposits through a network of financial institutions without opening accounts at multiple banks.
• ZSuite Technologies Technology platform enabling businesses to automatically collect rent or condo dues through ZRent functionality.
• Personal Checking Personal checking accounts with online and mobile banking features including Bill Pay and eStatements.
• Personal Savings Personal savings accounts, money market accounts, CDs, and IRA accounts including traditional, Roth, Flex IRA, and fixed-term IRA CDs.
• Home Loans Home loans and home equity loans for the North Puget Sound region including Snohomish and Island County markets.
• Online Banking Secure online access to personal accounts with features such as Bill Pay and eStatements.
• Mobile Banking Mobile banking application available on iOS and Android featuring Zelle, Mobile Wallets, mobile deposit, funds transfer, and bill pay.
• IRA Accounts Retirement account offerings including traditional and Roth IRAs, the Flex IRA, and fixed-term IRA CDs.
• CCBX (Banking-as-a-Service Platform) Banking-as-a-Service (BaaS) platform that white-labels Coastal Community Bank's banking charter, FDIC insurance, card issuance, and lending infrastructure to fintech partners for embedded deposit accounts, loans, and credit cards.
• Aven Bitcoin Visa Card Bitcoin-backed Visa credit card issued by Coastal Community Bank allowing holders to access credit lines up to $1 million without selling cryptocurrency, with fixed-rate plans up to 10 years starting at 7.99% APR and unlimited 2% cash back.
• Robinhood Platinum Card Premium invite-only credit card with a $695 annual fee, offering higher limits, elite rewards, and luxury benefits including 5x-10x points on travel and dining, issued by Coastal Community Bank.
• Aven Rewards Card $0 annual fee cash-back credit card offering 3% on all purchases up to $10,000/year and 6% on groceries, issued by Coastal Community Bank. Promotional rates effective October 2024.
• Robinhood Banking Deposits FDIC-insured savings deposits offered through Robinhood Banking under a partnership with Coastal Community Bank, providing savings APY, direct deposit, international money transfers, and 24/7 support. Reached $3 billion in deposits from over 200,000 customers.
• ExtraCash Bank Partnership Dave Inc.'s instant cash advance product for subprime borrowers, transitioned to off-balance-sheet funding structure with Coastal Community Bank effective June 2026, enabling reduced funding obligations and unlocking over $200 million in liquidity.

Quantifiable outcome

• 94% accuracy in customer complaints classification with 100% record coverage
• +5 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability5 records

Feature2 records

Partnerships

Eight partnerships are on record, tiered flagship, core and minor.

• Dave Inc. (DAVE)flagshipStrategic or Co-development Partner · 1 June 2026Dave Inc. transitioned its ExtraCash receivables funding to a strategic bank-partnership arrangement with Coastal Community Bank effective June 1, 2026, shifting from direct funding to a bank-partnership model. The arrangement reduces Dave's direct funding obligations, lowers its cost of capital, and unlocks over $200 million in liquidity. Dave also plans to apply a similar structure to its forthcoming Flex card product.
• Evolve Bank & TrustcoreStrategic or Co-development Partner · 29 April 2026Coastal Financial Corporation, through its wholly owned subsidiary Coastal Community Bank, entered into a non-binding term sheet with Evolve Bank & Trust regarding a potential acquisition of assets and deposits from Evolve's BaaS programs. The transaction would expand Coastal Community Bank's BaaS portfolio while representing a strategic restructuring of Evolve's program operations, subject to regulatory approvals.
• Aven Financial Inc.flagshipOEM/ Whitelabel/ Licensing Partner · 27 April 2026Aven launched the Bitcoin-backed Visa credit card issued by Coastal Community Bank, enabling credit lines up to $1 million without selling Bitcoin. Rates start at 7.99% APR with terms up to 10 years. Bitcoin collateral is held by BitGo Inc. and BitGo Bank & Trust, while Coastal Community Bank handles card issuance under a Visa network license.
• BitGo Inc. and BitGo Bank & TrustcoreTechnology or Integration · 27 April 2026BitGo Inc. and BitGo Bank & Trust serve as the Bitcoin custodian and OCC-regulated digital asset trust bank for the Aven Bitcoin Visa Card product issued by Coastal Community Bank. BitGo provides the infrastructure and custody for the Bitcoin collateral underpinning the credit card product.
• GreenFiminorStrategic or Co-development Partner · 12 January 2026Coastal Financial acquired GreenFi, a climate-focused banking and investment provider, in an effort to stabilize and assess GreenFi's long-term strategy amid its financial difficulties. The deal aimed to prevent customer disruption and explored future options including potential full integration or sale.
• RobinhoodflagshipOEM/ Whitelabel/ Licensing PartnerRobinhood Banking leverages Coastal Community Bank as its FDIC-insured partner bank for savings deposits, with Robinhood providing the technology platform and customer interface. Robinhood Banking reached $3 billion in deposits from over 200,000 customers as part of its strategy to become a comprehensive financial platform.
• PliantminorOEM/ Whitelabel/ Licensing PartnerBerlin-based B2B fintech Pliant partnered with Coastal Community Bank in Washington state to serve customers nationwide as it expanded into the U.S. market with strategic support from Visa.
• DatabrickscoreTechnology or IntegrationCoastal Community Bank partnered with Databricks to implement the Databricks AI Security Framework (DASF) to safely deploy AI and large language models across its BaaS operations, achieving 94% accuracy in customer complaints classification and enabling the bank to join the approximately 15% of organizations successfully running AI workloads in production.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Mercury: Mercury operates a fintech banking platform built on top of partner-bank infrastructure, serving startups and tech companies with deposits, treasury, and card products. While Mercury is itself a fintech company with bank partnerships (Mercury Financial, Choice Financial), its product positioning and target segments overlap with Coastal's BaaS-served fintech clients.
• Cross River Bank: Cross River is a New Jersey-chartered commercial bank and one of the largest U.S. BaaS sponsor banks, with flagship partnerships across lending, payments, and crypto (Stripe, Affirm, Coinbase, Circle). Most direct comparable to Coastal Community Bank's CCBX model and partner mix.
• Sutton Bank: Sutton Bank is an Ohio-based community bank historically known as Chime's chartered banking partner and a BaaS sponsor for prepaid cards and fintech deposit programs. Direct comparable to Coastal on the embedded-finance-plus-community-bank hybrid model.
• Grasshopper Bank: Grasshopper is a digital-first, BaaS-focused commercial bank that white-labels banking infrastructure to fintechs and digital brands. Similar size and strategic focus to Coastal's CCBX, with comparable emphasis on API-driven embedded finance rather than retail branch banking.
• Piermont Bank: Piermont is a New York-based commercial bank that built a BaaS franchise serving fintechs across payments, lending, and digital assets. Comparable business mix and scale to Coastal's CCBX division with similar embedded-finance go-to-market.
• Lead Bank: Lead Bank is a Kansas City-based community bank widely recognized as one of the largest Banking-as-a-Service sponsor banks, partnering with major fintechs including Coinbase, Affirm, and others. Direct functional peer to Coastal's CCBX division, operating a similar BaaS-anchored strategy with embedded card issuance and deposit programs.
• First Internet Bank: First Internet Bank is an Indiana-chartered, FDIC-insured bank operating without physical branches and focused on digital deposits, consumer lending, and small business banking. Closely comparable to Coastal's digital/branch-hybrid model and to CCBX's API-driven partner banking approach.
• Live Oak Bank: Live Oak is a digital-first, FDIC-insured commercial bank focused on small-business lending and SBA loans with a strong technology and remote service model. Comparable to Coastal as a community bank differentiating through technology and specialty lending rather than physical branch scale.
• Evolve Bank & Trust: Evolve is an Arkansas-based bank that built one of the largest BaaS program books (synapse-era fintech partnerships, prepaid, lending). It is both a direct competitor to CCBX and a transaction counterparty — Coastal has signed a non-binding term sheet to acquire its BaaS programs and deposits.
• Choice Financial Group: Choice Financial is a North Dakota-headquartered community bank that operates a meaningful BaaS/program management business and is itself a partner bank for several fintechs. Comparable hybrid community-bank-plus-BaaS model, particularly in the prepaid card and embedded lending space.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/coastalbankwa
• YouTubeyoutube.com/channel/UCoIKNDogAg1lftzpg3JV6OA
• Facebookfacebook.com/coastalcommunitybank
• LinkedInlinkedin.com/company/coastal-community-bank_2
• Instagraminstagram.com/coastalcommunitybank

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Coastal Community Bank