Coastal Financial Corporation appointed Christopher D. Adams as Executive Chair of the Board on July 29, 2026. Mr. Adams, a non-employee director since 2016 and partner at Adams & Duncan, Inc., entered into a five-year employment agreement with an initial annual base salary of $750,000. Concurrently, Thomas Lane was appointed Lead Independent Director. The Board also approved amendments to the Amended and Restated Bylaws to define the authority and duties of the Executive Chairperson and Lead Independent Director roles. Coastal Financial Corporation operates in the banking industry as a financial holding company.

Coastal Financial Corporation filed an 8-K to furnish its Second Quarter 2026 Investor Presentation. The company reported a net loss of $42.1 million, or $(2.76) per share, driven by a $22.8 million specific provision for credit losses and a $46.0 million valuation adjustment to a credit enhancement asset related to one non-public partner. Total loans receivable grew 9.0% quarter-over-quarter to $4.21 billion, while total deposits decreased 3.6% to $4.86 billion due to increased off-balance sheet sweep arrangements totaling $4.26 billion. The company also recorded $4.4 million in amortization of capitalized software. Coastal Financial Corporation operates as a community bank and provides Banking-as-a-Service (BaaS) solutions.

Coastal Financial Corporation reported a net loss of $42.1 million, or $(2.76) per diluted share, for the quarter ended June 30, 2026, compared to net income of $12.0 million in the prior quarter. The loss was primarily driven by a $68.8 million credit expense related to a single Banking-as-a-Service (BaaS) partner relationship, comprising a $22.8 million provision for credit losses and a $46.0 million valuation adjustment to a credit enhancement asset. Despite this charge, the company achieved record net interest income of $89.4 million and reported loan growth of 9.0%. The company also announced that Christopher D. Adams has been appointed Executive Chairman. Coastal Financial Corporation operates as a financial holding company with community banking and Banking-as-a-Service segments.

Coastal Financial Corporation will report its second quarter 2026 financial results pre-market on July 30, 2026, and will host an earnings call at 8:00 a.m. ET on the same day. Coastal Financial Corporation is a bank holding company that provides community-focused banking and banking as a service segment.

Coastal Financial Corporation announced that Brandon Soto will step down as Executive Vice President and Chief Financial Officer on August 15, 2026, to become CEO of a privately held fintech banking subsidiary. Joel Edwards, a former CFO of the company and Coastal Community Bank, has been appointed Interim Chief Financial Officer effective August 15, 2026, with a monthly base salary of $100,000. The company will conduct a search for a permanent CFO. Coastal Financial Corporation is a bank holding company providing community banking and banking-as-a-service through its subsidiaries.