Coastal Financial posts Q2 loss on $68.8 mln credit charge
CCB•Outlook and execution priorities
Coastal Financial said it expects continued growth in BaaS partner relationships and product launches for 2026.
The company plans to invest in technology and risk management to support platform scalability, and said expansion initiatives should drive higher partner revenue in upcoming periods.
The company also said technology upgrades improved operational efficiency and partner experience.
Quarterly loss driven by credit expense
Coastal Financial posted a second-quarter net loss after taking a $68.8 million credit expense tied to one banking-as-a-service partner.
The company said the charge was the primary reason for the loss, while noting that the expense is isolated and that capital ratios remain above well-capitalized levels.
Loan growth and BaaS income still increased
Despite the credit expense, Coastal Financial said it saw 9% loan growth and higher BaaS program income.
Management said expansion in partner relationships and product offerings helped support growth in the quarter.
