Coastal Financial

What Coastal Financial does

Coastal Financial Corporation (NASDAQ: CCB) is a Washington-state bank holding company headquartered in Everett, operating through its wholly owned subsidiary Coastal Community Bank. Since 1997 it has delivered retail and commercial banking services to small and medium-sized businesses, professionals, and individuals through 14 full-service branches in Snohomish, Island, and King Counties, internet, and mobile banking; it is the largest community bank by deposit market share in the greater Puget Sound area.

The company operates a dual-segment model. The Community Banking segment is a traditional branch-and-digital franchise generating net interest income on loans receivable and interest-bearing deposits. The CCBX (Coastal Community Bank X) segment is a Banking-as-a-Service platform that enables broker dealers and fintech partners to offer banking services - including credit card programs (667,023 off-balance-sheet cards with fee-earning potential as of March 31, 2026), debit card programs (10.3 million fee-earning debit cards), deposit programs with FDIC sweep capabilities, and specialty lending such as capital call lines - to their own end customers using Coastal's bank charter. CCBX partners provide 100% fraud indemnification and up to 98.8% credit indemnification on partner-originated balances.

Revenue is generated from net interest income across both segments, recurring BaaS program fees (servicing, transaction, interchange, and expense reimbursements), and credit/fraud enhancement income. FY2025 total revenue was $429.6 million with $47.0 million in net income; Q1 2026 brought total assets to $5.66 billion (+19.5% QoQ) and deposits to $5.04 billion (+21.6% QoQ), with BaaS program fee income of $10.9 million (+22.3% QoQ). Disclosed customer logos include Robinhood (deposit program launched Q4 2025), Dave Inc. (ExtraCash funding partnership effective June 2026), Step/Beast Industries (under Evolve-related discussions), and Mission Financial Partners (GreenFi brand acquired January 2026). The franchise is regulated by the Federal Reserve and the Washington State DFI, and a previously disclosed material weakness in BaaS interest-income and expense reporting internal controls is a known governance item being remediated.

Name

Coastal Financial

Legal name

Coastal Financial Corporation

Website

https://ir.coastalbank.com

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

251–500 employees

Short description

Coastal Financial Corporation, through subsidiary Coastal Community Bank, operates a 14-branch community bank in Washington's greater Puget Sound and a Banking-as-a-Service platform (CCBX) that enables fintech partners to offer deposits, cards, and lending using its bank charter.

Ownership category

akta.pro rank

Product category

Community Banking and Banking-as-a-Service

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218), Commercial Banking (522110)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

SME Business Lending (Term Loans, Lines of Credit, Overdrafts) (FSABABAB)

akta.pro secondary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• Community banking
• Banking-as-a-Service
• Fintech partnerships
• Consumer deposits
• Commercial lending

Headquarters

HQ city

Everett

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: Interest income from loans receivable and interest-bearing deposits, net of interest expense on deposits and borrowings. Represents the core banking margin from both community bank loans and CCBX loan portfolios.
2. BaaS Program Income: Fees from banking-as-a-service partners including servicing fees, transaction and interchange fees, and reimbursement of expenses. BaaS program income was $10.9 million in Q1 2026, up 22.3% quarter-over-quarter.
3. BaaS Credit and Fraud Enhancements: Income from credit enhancements and fraud indemnification related to CCBX partner loan portfolios. Partners provide credit and fraud indemnification that protects the bank from losses on fintech-originated loans.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Coastal Financial operates a dual-segment banking model through its wholly owned subsidiary Coastal Community Bank: (1) community banking services (checking, savings, mortgage, consumer and commercial lending, debit/credit cards) delivered via 14 full-service branches in the greater Puget Sound area plus internet and mobile banking; and (2) the CCBX Banking-as-a-Service segment that supplies regulated banking infrastructure, deposit programs, credit and debit card programs, lending products, and credit/fraud indemnification to broker-dealers and digital financial service partners. The company also owns the GreenFi climate-friendly consumer finance brand.

Product overview

Coastal Financial Corporation operates a dual-segment business model consisting of Coastal Community Bank (a traditional community bank serving consumers and businesses in the greater Puget Sound area through 14 branches, internet, and mobile banking) and its CCBX (Coastal Community Bank X) Banking-as-a-Service platform segment. CCBX enables fintech partners and digital financial service providers to offer banking services including credit cards, debit cards, deposit programs, and lending products. The company also acquired the GreenFi climate-friendly consumer finance brand. The CCBX segment has grown to represent the majority of the company's deposit base and loan portfolio, with 30 total partner relationships at varying stages including active, testing, onboarding, and wind-down status as of Q1 2026.

Differentiator

Problem solved

Functional benefit

Brands

• CCBX: Banking-as-a-Service (BaaS) segment that allows broker dealers and digital financial service partners to offer banking services to their customers
• GreenFi

Products and services

• CCBX Banking-as-a-Service Platform Banking-as-a-Service (BaaS) platform segment that allows broker dealers and digital financial service partners to offer banking services (deposits, credit cards, debit cards, lending) to their customers under Coastal Community Bank's regulatory framework and credit/fraud indemnification.
• Coastal Community Bank Traditional community bank offering checking, savings, mortgage, consumer and commercial lending, and debit/credit card services via 14 full-service branches in Snohomish, Island, and King Counties, plus internet and mobile banking.
• GreenFi Climate-friendly consumer financial services brand acquired from Mission Financial Partners that offers consumer financial products with an environmental focus; operated and marketed by Mission under Coastal Financial's governance.
• Capital Call Lines of Credit Specialized commercial lending product for venture capital firms, secured by capital call rights and individually underwritten to the Bank's credit standards, distributed via CCBX BaaS clients.

Quantifiable outcome

• BaaS program fee income increased 22.3% quarter-over-quarter to $10.9 million in Q1 2026
• +2 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature1 record

Partnerships

Five partnerships are on record, tiered core, strategic and minor.

• Dave Inc.coreChannel Partner/ Reseller/ Distributor · 1 June 2026Dave Inc., a U.S. neobank listed on Nasdaq (DAVE), entered a strategic funding arrangement with Coastal Community Bank effective June 1, 2026. Dave transitioned its ExtraCash receivables funding from direct funding to a bank-partnership model, expected to unlock over $200 million of liquidity on Dave's balance sheet. The partnership also plans to extend to Dave's forthcoming Flex card product.
• Evolve Bank & TruststrategicStrategic or Co-development Partner · 29 April 2026Evolve Bank & Trust is in discussions with Coastal Financial Corp to offload select banking-as-a-service deposits and assets as part of a de-risking effort. Coastal Financial entered a non-binding term sheet to evaluate acquiring assets from up to 10 of Evolve's fintech clients, including Step (MrBeast's youth finance platform).
• Jeffrey M. ChapmanminorOthers · 12 March 2026Jeffrey M. Chapman appointed to board of directors, bringing over 25 years of experience in banking technology.
• GreenFi / Mission Financial PartnerscoreStrategic or Co-development Partner · 14 January 2026Coastal Financial acquired the GreenFi brand of climate-friendly consumer financial services from Mission Financial Partners. The deal deepens an existing banking partnership, with Mission continuing to operate and market the GreenFi brand under Coastal's governance and oversight.
• RobinhoodcoreChannel Partner/ Reseller/ Distributor · 1 November 2025Robinhood's deposit program successfully launched in Q4 2025 through Coastal Community Bank's CCBX platform. Robinhood's banking division crossed $1 billion in deposits from 65,000 funded customers within four months of its November 2025 launch, contributing significantly to CCBX deposit growth.

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Lead Bank: Lead Bank is a Missouri-based community bank that has built a substantial BaaS franchise serving fintechs including Affirm, Coinbase, and others. Direct competitor in the community-bank-plus-BaaS model, offering similar partnership-based deposit, card, and lending programs.
• Customers Bancorp: Customers Bancorp operates one of the most prominent Banking-as-a-Service franchises (BMTX) serving fintechs with deposit, lending, and card products. Highly comparable to Coastal's CCBX in serving digital financial service providers, though at a larger scale and with a broader commercial banking base.
• Piermont Bank: Piermont Bank is a New York-chartered commercial bank with a BaaS platform serving fintechs, stablecoin issuers, and digital asset companies. Closely comparable to Coastal's CCBX in providing banking infrastructure to digital-native financial service providers.
• Evolve Bank & Trust: Evolve Bank & Trust is a Tennessee-chartered bank with a large BaaS franchise serving fintechs including Step, Mercury, and others, currently in de-risking mode. Direct competitor to CCBX and the counterparty in Coastal's pending asset acquisition deal.
• First Bank (NJ): First Bank is a New Jersey-based community bank with a growing BaaS and fintech partnership business. Comparable to Coastal's hybrid community-bank-plus-BaaS model serving both local SMBs and fintech partners.
• Cross River Bank: Cross River Bank is a New Jersey-chartered state bank that provides Banking-as-a-Service infrastructure to fintechs and digital platforms, including lending, deposits, and payments. Directly comparable to Coastal's CCBX in serving as a regulated bank partner for fintechs across credit cards, deposits, and lending.

Regional players

• Heritage Financial Corporation: Heritage Financial is a Pacific Northwest community bank holding company headquartered in Olympia, Washington, operating a traditional community banking model in similar geography to Coastal. Comparable in branch-based community banking focus but without a BaaS segment.
• First Northwest Bancorp: First Northwest Bancorp is an Olympic Peninsula, Washington-based bank holding company serving the Pacific Northwest. Regional peer to Coastal's community banking operations with overlapping Washington state footprint.

Broad incumbents

• JPMorgan Chase: JPMorgan Chase is the largest U.S. bank with extensive commercial banking, card, and increasingly BaaS-adjacent embedded finance capabilities. Serves as the broad incumbent comparable to Coastal's full-service commercial and consumer banking, though at vastly larger scale.

Emerging players

• Column (Brex): Column (formerly known as Column N.A.) is a national bank built on Banking-as-a-Service infrastructure primarily serving Brex and other fintechs. Emerging player in the regulated BaaS space with similar technology-forward orientation to Coastal's CCBX platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/coastalbankwa?lang=en
• YouTubeyoutube.com/channel/UCoIKNDogAg1lftzpg3JV6OA
• Facebookfacebook.com/coastalcommunitybank
• LinkedInlinkedin.com/company/coastal-financial-corporation
• Instagraminstagram.com/coastalcommunitybank/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments

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

Frequently asked questions about Coastal Financial