Coastal Financial Q2 FY26 turns to net loss of $42.1 million; net interest income rises 7.2% vs Q1 to $89.37 million

Reuters2026/07/30 10:41

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Coastal Financial swung to a net loss of USD 42.1 million, or USD 2.76 a share, in the quarter ended June 30, 2026.
Net interest income rose 7.2% from the prior quarter to USD 89.4 million, while provision for credit losses climbed to USD 92.2 million.
Noninterest expense jumped to USD 141.1 million from USD 83.5 million, reflecting a USD 46 million credit enhancement asset valuation adjustment on one partner.
BaaS program fee income increased 10.3% from the prior quarter to USD 12 million; off-balance-sheet fee-earning credit cards rose to 881,659.
Management said the loss was driven by USD 68.8 million of credit expense tied to a single, isolated CCBX partner relationship.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Coastal Financial Corp. published the original content used to generate this news brief on July 30, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Coastal Financial Q2 FY26 turns to net loss of $42.1 million; net interest income rises 7.2% vs Q1 to $89.37 million

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