Coastal Financial Corporation (CCB) is a bank holding company based in Everett, Washington. It was founded in 1997 as 'Coastal Community Bank' and today, it operates as the holding company for the aforementioned bank, providing a wide range of financial services to businesses and individuals. The bank boasts its commitment to personalized service and community involvement, differentiating itself from larger, nationwide banks.
CCB offers a myriad of services including personal and business banking, mortgage lending, and remote banking solutions. Personal services encompass both savings and checking accounts, loans, credit cards, online banking and more. Business services provide solutions for businesses large and small with services such as commercial loans, cash management, deposit services, merchant services, and equipment financing.
One of Coastal Financial's primary focuses is community development. It is considered a community bank, where local decisions are made by people living in the community, aiming to contribute to the enrichment of their local area. Nurturing relationships, understanding community needs, and forging local partnerships are all highly prioritized.
In terms of financial performance, CCB has shown consistent growth over the years. The company went public in July 2018, offering 2.72 million shares and raising $38 million in a move designed to help fuel continued growth. Their solid financial results have resulted in capital that is well-ready to support the next phase of expansion.
Importantly, Coastal Community Bank is also distinguished by its innovative approach. The institution has aimed to blend the personal service of a traditional community bank with the convenience of digital banking services. This blend of innovation and customer service is a characteristic feature of CCB's operations. For instance, in 2019, Coastal launched its BankTech platform that allowed Fintech firms to use Coastal's banking systems to offer their own branded deposits and payment solutions, a key step in growing their customer base and expanding their reach in the digital banking landscape.
In conclusion, Coastal Financial Corp. (CCB) is a community-focused, innovative, and well-performing banking institution that has demonstrated its commitment to serving its customers and community to the greatest extent possible. Whether it's for everyday personal banking needs or comprehensive business financial solutions, CCB continues to be a trusted partner in its community.