Coastal Financial Q3 2026 swings to net income of $13.79 million from prior-quarter loss
CCB•Coastal Financial reported third-quarter 2026 net income of $13.79 million, versus a loss in the prior quarter. Revenue fell 16% quarter over quarter to $149.33 million, while noninterest expense declined 40% to $84.84 million.
1. Quarterly results
Coastal Financial swung to third-quarter 2026 net income of $13.79 million from a loss in the previous quarter. Revenue fell 16% quarter over quarter to $149.33 million, largely due to lower BaaS credit enhancement income.
2. Expenses and provisions
Noninterest expense dropped 40% from the previous quarter to $84.84 million, primarily because there was no credit-enhancement receivable valuation adjustment. Provision for credit losses declined 50% quarter over quarter to $46.02 million.
