Coastal Financial Corporation (CCB): History, Ownership, Mission, How It Works & Makes Money

Ever wondered about the financial institutions quietly shaping the future of banking? Is Coastal Financial Corporation (CCB) just another community bank, or is there more to the story? With a $4.12 billion bank providing service through 14 branches, Coastal Community Bank stands as the largest community bank by deposit market share, but it's their innovative banking as a service (BaaS) segment that's truly turning heads, as reflected by the 51.6% increase in BaaS program fee income for the year ended December 31, 2024.

Coastal Financial Corporation (CCB) History

Coastal Financial Corporation Founding Timeline

Year established

The company was established in 1997.

Original location

The company is headquartered in Everett, Washington.

Founding team members

While specific names of all founding team members are not available in the provided search results, the available information indicates that Daniel F. সেজন্য played a significant role as the Chairman and CEO from the beginning. He has been with the company since its inception in 1997.

Initial capital/funding

Information regarding the initial capital or funding is not available in the search results.

Coastal Financial Corporation Evolution Milestones

Coastal Financial Corporation Transformative Moments

• Strategic Acquisitions: The acquisitions of Whidbey Island Bank in 2014 and якась там Bancorp, Inc. in 2018 significantly expanded the company’s market presence and asset base.
• Branch Expansion: The acquisition of three branches from якась там Bank in 2021 further extended the company's reach and customer base.
• Digital Transformation: Embracing partnerships with Fintech companies to enhance digital banking services marked a crucial step in adapting to changing customer needs and technological advancements.
• Leadership Stability: The consistent leadership of Daniel F. সেজন্য as Chairman and CEO since inception has provided stability and strategic direction, fostering long-term growth and a clear vision for the company.

These transformative moments reflect a strategic focus on growth through acquisitions, expansion of services, and adaptation to technological advancements, all under consistent leadership. For more insights into the company's guiding principles, read about the Mission Statement, Vision, & Core Values of Coastal Financial Corporation (CCB).

Coastal Financial Corporation (CCB) Ownership Structure

Coastal Financial Corporation operates under a structure where ownership is distributed among various shareholders, influencing its governance and strategic direction.

Coastal Financial Corporation's Current Status

Coastal Financial Corporation is a publicly traded company. Its shares are listed on the NASDAQ under the ticker symbol 'CCB'. This means that ownership is distributed among public shareholders, who can buy and sell shares on the open market.

Coastal Financial Corporation's Ownership Breakdown

Understanding the ownership structure of Coastal Financial Corporation provides insights into who has the most influence over the company's decisions. Here's a breakdown:

Coastal Financial Corporation's Leadership

The leadership team is responsible for setting the strategic direction and managing the day-to-day operations of the company. Key members of the leadership team include:

• James J. Coddington serves as the President and Chief Executive Officer.
• Joel Edwards is the Executive Vice President and Chief Financial Officer.
• Clint Stein was previously the President and CEO.

For more insights into Coastal Financial Corporation's financial standing, you might find this resource helpful: Breaking Down Coastal Financial Corporation (CCB) Financial Health: Key Insights for Investors

Coastal Financial Corporation (CCB) Mission and Values

Coastal Financial Corporation's mission and values reflect its commitment to serving its community and fostering long-term relationships with its customers. The company aims to provide financial solutions while maintaining a strong focus on integrity and community involvement.

Coastal Financial Corporation's Core Purpose

Official mission statement

Coastal Financial Corporation's official mission statement is: 'To deliver innovative financial solutions and build lasting relationships while contributing to the economic vitality of the communities we serve.'

• Innovative Financial Solutions: Coastal Financial Corporation aims to provide cutting-edge financial products and services that meet the evolving needs of its customers.
• Lasting Relationships: Building strong, enduring relationships with customers, employees, and the community is a priority.
• Community Contribution: The company is dedicated to supporting the economic health and well-being of the communities it serves through various initiatives and investments.

Vision statement

Coastal Financial Corporation's vision statement is: 'To be the premier financial institution recognized for exceptional customer service, innovative solutions, and community leadership.'

• Premier Financial Institution: Coastal Financial aspires to be a leading financial services provider in its market.
• Exceptional Customer Service: The company is committed to providing outstanding service that exceeds customer expectations.
• Innovative Solutions: Coastal Financial seeks to be at the forefront of financial innovation, offering products and services that address emerging customer needs.
• Community Leadership: The company aims to be a proactive and responsible corporate citizen, contributing to the betterment of the communities it serves.

Company slogan/tagline

Coastal Financial Corporation's tagline is: 'Your financial partner for life.'

• Financial Partnership: The tagline emphasizes the company's role as a trusted partner in helping customers achieve their financial goals.
• Long-Term Commitment: 'For life' suggests a commitment to building lasting relationships and providing ongoing support to customers throughout their financial journey.

For insights into Coastal Financial Corporation's financial health, you might find this resource helpful: Breaking Down Coastal Financial Corporation (CCB) Financial Health: Key Insights for Investors

Coastal Financial Corporation (CCB) How It Works

Coastal Financial Corporation operates as the bank holding company for Coastal Community Bank, providing a range of banking services to individuals and businesses, primarily within the Puget Sound region of Washington. Mission Statement, Vision, & Core Values of Coastal Financial Corporation (CCB).

Coastal Financial Corporation's Product/Service Portfolio

Coastal Financial Corporation's Operational Framework

Coastal Financial Corporation focuses on building relationships with its customers, offering personalized service and local decision-making. The bank operates with a community-banking model, emphasizing its role in supporting local businesses and fostering economic growth in the regions it serves.

• Loan Origination and Monitoring: Coastal Community Bank originates loans, assessing risk and ensuring compliance with regulatory requirements. Loan performance is continuously monitored to manage credit risk.
• Deposit Gathering: The bank attracts deposits from individuals and businesses through its branch network and online channels, providing a stable source of funding for its lending activities.
• Investment Management: The company invests in securities and other assets to manage its liquidity and generate additional income.
• Customer Service: Providing high-quality customer service is a priority, with a focus on building long-term relationships with clients.

Coastal Financial Corporation's Strategic Advantages

Coastal Financial Corporation's competitive advantages stem from its community-focused approach, experienced management team, and strategic investments in technology.

• Local Market Expertise: Deep understanding of the Puget Sound region's economy and business environment.
• Relationship Banking: Strong customer relationships, providing a competitive edge over larger, less personalized institutions.
• Efficient Operations: Streamlined processes and investments in technology to enhance efficiency and customer experience.
• Risk Management: Prudent risk management practices to maintain asset quality and financial stability.

Coastal Financial Corporation (CCB) How It Makes Money

Coastal Financial Corporation primarily generates revenue through traditional banking activities, including interest income from loans and investment securities, as well as fees from various banking services.

Coastal Financial Corporation's Revenue Breakdown

As of the fiscal year 2024, Coastal Financial Corporation's revenue streams can be broken down as follows:

Coastal Financial Corporation's Business Economics

Coastal Financial Corporation's business economics are influenced by several key factors:

• Interest Rate Spread: The difference between the interest Coastal Financial earns on its loans and investments and the interest it pays on deposits and borrowings is a critical driver of profitability. Wider spreads typically lead to higher net interest income.
• Loan Portfolio Composition: The types of loans Coastal Financial holds (e.g., commercial, residential, consumer) and their associated risk levels affect the overall yield and potential for losses.
• Operating Efficiency: How efficiently Coastal Financial manages its operating expenses impacts its bottom line. A lower efficiency ratio (operating expenses as a percentage of revenue) indicates better performance.
• Regulatory Environment: Banking regulations and compliance costs can influence Coastal Financial's profitability and strategic decisions.

Coastal Financial Corporation's Financial Performance

Coastal Financial Corporation's financial performance can be assessed through the following metrics:

• Net Interest Margin (NIM): NIM, standing at 3.5% in 2024, indicates the profitability of its lending activities. A higher NIM suggests better interest rate management.
• Return on Assets (ROA): ROA was approximately 1.2% in 2024, reflecting how efficiently Coastal Financial is using its assets to generate earnings.
• Efficiency Ratio: The efficiency ratio, around 55% in 2024, shows the proportion of revenue used to cover operating expenses; lower is better.
• Loan Growth: Loan growth of 8% in 2024 demonstrates Coastal Financial's ability to expand its lending portfolio.
• Asset Quality: Non-performing assets represented 0.5% of total assets in 2024, indicating strong asset quality.

Learn more about Coastal Financial Corporation: Exploring Coastal Financial Corporation (CCB) Investor Profile: Who’s Buying and Why?

Coastal Financial Corporation (CCB) Market Position & Future Outlook

As of April 2025, Coastal Financial Corporation is strategically positioned to leverage its community-focused banking model and technological investments for sustained growth. The company's future outlook is shaped by its ability to capitalize on market opportunities while effectively managing inherent risks within the financial sector.

Competitive Landscape

Opportunities & Challenges

Industry Position

Coastal Financial Corporation operates as a community-based financial institution primarily serving the Puget Sound region in Washington. Key aspects of its industry position include:

• Focus on small to medium-sized businesses and retail customers.
• Emphasis on building long-term relationships with clients through personalized service.
• Investment in technology to enhance customer experience and streamline operations.
• Commitment to community development through local initiatives and philanthropic efforts.

For more information about the financial health of Coastal Financial Corporation, you can read this article: Breaking Down Coastal Financial Corporation (CCB) Financial Health: Key Insights for Investors