Coastal Financial Q3 profit misses estimates
CCB•Coastal Financial reported Q3 adjusted EPS of $0.89, below the $0.98 estimate, and net income of $13.79 million, below the $15.03 million estimate. BaaS program fee income rose 18% from the prior quarter and 80% year over year; the company targets up to $20 million in annualized expense savings over the next 4–6 quarters.
1. Quarterly results
Coastal Financial's Q3 adjusted EPS was $0.89, compared with the $0.98 analyst estimate. Net income was $13.79 million, below the $15.03 million estimate, while net interest income was $88.29 million.
2. Fees and outlook
BaaS program fee income increased 18% from the prior quarter and 80% year over year, driven by higher partner activity and expanded partner programs. The company expects new partnership opportunities and product launches for the remainder of 2026, and targets up to $20 million in annualized noninterest expense savings over the next 4–6 quarters.
