Coastal Community Bank self-identifies material weakness [Yahoo! Finance]
Coastal Financial Corporation (CCB)
Last coastal financial corporation earnings: 4/27 09:25 am
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Source: Yahoo! Finance
Coastal Financial Corp., the parent company of Coastal Community Bank, identified a material weakness in its internal controls over financial reporting related to interest income and banking-as-a-service expenses for certain BaaS partner loans, it disclosed this week. Additionally, the company noted incorrect accounting for expense reimbursements, where it functions as an agent, according to a Securities and Exchange Commission filing Monday. The Everett, Washington-based company's audit committee determined this month that while the accounting errors had no impact on consolidated pre-tax income, net income, or retained earnings, they caused an overstatement of assets and liabilities on the balance sheet and affected the cash flow statement's operating and investing activities. “The important takeaway is that these adjustments relate to accounting matters and were offsetting,” Coastal CEO Eric Sprink told American Banker via email, noting that the adjustments have no impact on
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CCB
Earnings
- 10/30/25 - Miss
CCB
Sec Filings
- 12/11/25 - Form 4
- 12/9/25 - Form 4
- 12/8/25 - Form 4
- CCB's page on the SEC website