Coastal Financial plunges after large credit expense drives Q2 loss

Coastal Financial (EVERETT)

30/07/2026 17:05

** Community lender Coastal Financial's CCB.O shares plunge 44.8% to $39
** CCB swung to a loss in Q2 as it incurred a $68.8 million credit expense tied to a single partner relationship
** "We believe this is an isolated issue pertaining to one partner and does not reflect a change in our view of our broader partner portfolio or BaaS model," CEO Eric Sprink said, referring to a service that lets non-banks deliver digital banking through licensed platforms
** "We would expect shares likely underperform off the announcement," Stephens analyst Andrew Terrell said
** As of last close, CCB stock down 38.3% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))