2018 Highlights: Net income totaled $9.7 million for the year ended December 31, 2018, or $0.91 per diluted common share, up 79.6% from $5.4 million, or $0.59 per diluted common share, for the year ended December 31, 2017. Total assets were $952.1 million at December 31, 2018, up 3.8% from $917.0 million at September 30, 2018 and 18.2% from $805.8 million at December 31, 2017. Total loans receivable grew at a rate of 16.9% for the twelve months ended December 31, 2018. Total deposits grew at a rate of 14.3% for the twelve months ended December 31, 2018. Noninterest bearing deposits at December 31, 2018 were 36.5% of total deposits. Cost of deposits were 0.42% for the year ending December 31, 2018, up 0.03% from the third quarter of 2018 and 0.10% from the year ending December 31, 2017. Initial public offering of 2,577,500 shares of common stock completed, on July 18, 2018, for net proceeds of $33.2 million. /EIN News/ — EVERETT, Wash., Jan. 25, 2019 (GLOBE NEWSWIRE) — Coastal Financial Corporation (NASDAQ: CCB) (the “Company”), the holding company for Coastal Community Bank (the “Bank”), today reported unaudited financial results for the quarter and year ended December 31, 2018. … Read full this story
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