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what it is
Coastal runs a bank in Washington that lends to businesses and sells banking services through partners.
how it gets paid
Last year Coastal Financial made $430M in revenue. CCBX banking-as-a-service was the main engine at $237M, or 55% of sales.
why it's growing
Revenue grew 8.3% last year. Revenue rose 195% vs. prior year, and EPS rose 155%.
what just happened
The latest quarter printed $322M of revenue and $2.24 EPS, a brutal vs. prior year jump.
At a glance
B+ balance sheet — decent shape, but not bulletproof
75/100 earnings predictability — reasonably predictable
35.8x trailing p/e — you're paying up for this one
$3.26 fy2024 eps est
$6M fy2024 rev est
xvary composite: 73/100 — average
What they do
Coastal runs a bank in Washington that lends to businesses and sells banking services through partners.
CCBX drives 55% of revenue, while the branch bank still has 14 locations. That split matters because your money is not tied to one customer or one loan type. Leaving is painful when 55% of the top line sits on a partner-heavy platform and the rest rides a $3.57B loan book.
How they make money
$430M
annual revenue · their business grew +8.3% last year
CCBX banking-as-a-service
$237M
+18.0%
Commercial real estate lending
$86M
+7.0%
Commercial and industrial lending
$56M
+5.0%
Residential real estate lending
$31M
+4.0%
Consumer and other banking
$20M
2.0%
The products that matter
banking rails for fintech partners
CCBX Platform
$280M · 65% of mix
This is the engine. It makes up $280M of the revenue mix shown here, grew 15%, and management says it expects 7–10 new partner programs this year. If you are underwriting the growth case, this is the line that has to keep carrying the page.
growth engine
traditional retail and commercial banking
Coastal Community Bank
$108M · 25% of mix
The branch bank still matters because it holds the charter and balance sheet, but the numbers shown here are plain: $108M of mix and down 2%. That's stability. It is not the reason investors pay 25.24x trailing earnings.
charter + ballast
fee and support services
Other Services
$43M · 10% of mix
At $43M and up 5%, this bucket helps. It does not drive the stock. The quiet part loud: if you get excited about CCB, you are really getting excited about CCBX onboarding and execution.
supporting revenue
Key numbers
$1.1B
market cap
You are paying about 2.6x annual revenue for a bank with a $1.1B equity tag.
$430M
annual revenue
That is the actual top line. It makes the $6M estimate look comically wrong.
$3.57B
loans
This is the book that must stay healthy. If credit slips, this number is where the pain starts.
35.8x
trailing p/e
You are paying 35.8 years of trailing earnings up front. Banks usually do not get to look this expensive for free.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 1 — safer than 95% of stocks
- price stability 35 / 100
- long-term debt $48M (4% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for CCB right now.
source: institutional data · return history unavailable
What just happened
beat estimates
The latest quarter printed $322M of revenue and $2.24 EPS, a brutal vs. prior year jump.
Revenue rose 195% vs. prior year, and EPS rose 155%. CCBX and lending both did the heavy lifting.
$110M
revenue
$2.24
eps
+195%
revenue vs. last year
the number that mattered
$322M matters because it shows the bank can still grow fast while carrying a $3.57B loan book.
source: company earnings report, 2026
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What could go wrong
CCB's biggest risk is very specific: the stock is priced for CCBX to matter more than the branch bank, and CCBX already represents 65% of the revenue mix shown here. If that platform slows, the market has to rethink what this company actually is.
high
BaaS oversight
CCBX is the growth engine at $280M and 65% of mix. If regulators force tighter controls on partner programs, the segment investors pay for slows first. That's the cleanest path from premium multiple to plain bank multiple.
revenue exposure: $280M of segment revenue
med
credit costs still matter
This is still a bank. Loan losses and provisioning hit earnings whether or not the fintech narrative sounds good on conference calls. After a quarter that printed $0.82 versus $1.07 expected, there is not much room for another surprise in the wrong direction.
earnings exposure: pressure on quarterly EPS from the current $0.82 base
med
the legacy bank is not growing fast enough to rescue the thesis
Traditional banking contributes $108M of the mix and slipped 2%. That is fine when CCBX is doing the heavy lifting. It is a problem if the growth side stumbles, because the fallback business does not justify 25.24x trailing earnings on its own.
segment trend: $108M business, down 2%
low
multiple compression arrives before the fundamental damage is obvious
A trailing P/E of 25.24x is a statement of faith after a 23% miss. If the 43.7% forward EPS growth forecast gets revised down, the stock does not need a disaster to fall. It only needs less optimism.
valuation exposure: premium multiple versus current trailing earnings
If CCBX loses momentum, you are left with 65% of the revenue mix under pressure and a stock still priced like the rebound is on schedule.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
next earnings report
Scheduled for may 4, 2026. You want to see whether EPS rebounds from $0.82 and whether management still sounds confident about the recovery path.
regulation
CCBX oversight
With 65% of the mix tied to BaaS, any compliance tightening or partner friction shows up quickly in sentiment and eventually in the numbers.
segment trend
CCBX vs. traditional banking
One segment grew 15%. The other fell 2%. That spread is the story. If it narrows because CCBX slows, the stock gets harder to defend.
pipeline
new partner programs
Management expects 7–10 new programs this year. This is the simplest reality check on the 43.7% EPS growth forecast.
Analyst rankings
earnings predictability
75 / 100
A 75 / 100 score says the earnings record has usually been dependable. The latest 23% miss is the part that broke the pattern.
forward EPS growth
43.7%
in human-speak, analysts think this quarter was a stumble, not a broken model.
beta
0.90
The stock has moved a bit less than the market. That does not make the business low-drama. It just means the tape has been calmer than the debate around it.
source: institutional data
Institutional activity
institutional ownership data for CCB is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$113
current price
n/a
target midpoint · n/a from current
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