Coastal Financial recorded net income of $12.0 million, or $0.78 per diluted share, for the quarter ended March 31, 2026, compared to $9.7 million, or $0.63 per share, for the first quarter of 2025 and $12.6 million, or $0.82 per share, in the prior quarter. Net interest income after provision for credit losses stood at $31.959 million, while noninterest income totalled $66.077 million, supporting a combined strong revenue mix.

The CCBX banking-as-a-service platform generated $10.9 million in fee income during Q1, a 22.3% increase from Q4 2025, underpinned by two partners in testing, three in implementation, and two with signed letters of intent. Management highlighted ongoing advancement of credit, deposit and credit card programs through internal testing to full market launch, reinforcing strategic partner relationships and setting the stage for further growth.

Total assets rose by $922.4 million, or 19.5%, to $5.663 billion at March 31, 2026, driven by a $897.0 million, or 21.6%, surge in deposits to $5.041 billion and a 2.9% increase in loans receivable. Coastal sold $3.28 billion in loans, including $2.63 billion of credit card receivables under forward flow arrangements, and expanded off-balance-sheet credit card accounts to 667,023, up 116,046 from the prior quarter.