Coastal Financial Corporation | Stephens

Who We Are

What We Do

We provide investment banking, research, sales and trading, asset and wealth management, public finance, insurance, private capital, and family office services.

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Back to transactions

Coastal Financial Corporation

$30 Million 12/14/2021 Depository Complete
Lead Bankers: Scott Studwell, Jimmy Troy
Public Companies
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Transaction Details

  • On December 14, 2021, Coastal Financial Corporation (NASDAQ: CCB) (“Coastal” or the “Company”), the holding company for Coastal Community Bank (the “Bank”), announced the pricing of an underwritten public offering of 740,742 shares of its common stock at a price to the public of $40.50 per share
    • All shares were primary shares offered by the Company
  • Coastal also granted the underwriters a 30-day option to purchase up to an additional 111,111 shares of its common stock
  • The Company intends to use the net proceeds from this offering for general corporate purposes, including, without limitation, supporting investment opportunities and the Bank’s growth

About the company

Coastal Financial Corporation
Coastal Financial Corporation (Nasdaq: CCB), is an Everett, Washington-based bank holding company whose wholly owned subsidiaries are Coastal Community Bank and Arlington Olympic LLC. The Bank provides service through 14 branches in Snohomish, Island, and King Counties in Washington, the Internet and its mobile banking application. The Bank, through its CCBX division, provides banking as a service (“BaaS”) that allows its broker-dealer and digital financial service partners to offer their customers banking services. As of September 30, 2021, Coastal had total assets of $2.45 billion, total loans receivable of $1.71 billion, total deposits of $2.22 billion, and total shareholders’ equity of $161.1 million.

Sources: Company filings and press release
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