CFC Quarterly Financial Performance
LONG-TERM STRATEGIC VERTICALS
COASTAL
FINANCIAL CORPORATION
The
Community
Bank
"CCB"
Provide
Banking as a
Service
(BaaS)
"CCBX"
Best-in-class community bank that offers lending and
deposit products to commercial customers
Community bank loan portfolio consists primarily of CRE
loans, Construction, Land and Land Development
loans, and C&I loans - $1.51 billion, or 87.6% of
community bank loans
Attractive funding mix with total balance of $1.51
billion, with 98.4% core deposits (¹) and cost of
deposits of 0.98%
Conservative credit culture with strong Net Charge-off to
average loans performance: 0.01% YTD (2)
Asset-sensitive balance sheet that is well-positioned for
current rising interest rate environment
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Provides Banking as a Service (BaaS) to broker dealers and
digital financial services providers
18 active partners with 3 more currently in the testing /
implementation / onboarding or signed LOI stage
Robust sourcing capabilities, thorough due diligence and
refining criteria of potential partner relationships
Exceptional growth in BaaS program fee income (3) of
32.3% YoY
Strong deposit generation platform with total balance of
$1.65 billion (55.1% growth YoY), and excludes $9.9 million
transferred off the balance sheet
$1.3 billion in total loans receivable, with credit
enhancements (on 98.6% of total CCBX loans) and fraud
enhancements (on 100% of total CCBX loans) 61.0% loan
growth YoY
Neutral balance sheet that is well-positioned for both current
rising interest rates and for declining rates in the future
Note: Data as of three months ended June 30, 2023 unless otherwise indicated
(1) Core deposits are all deposits excluding brokered and time deposits.
(2) Community bank only.
(3) Total BaaS program fee income includes servicing and other BaaS fees, transactions fees, interchange fees and reimbursement of expenses.
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