Core Insights - Coastal Financial Corporation reported a net income of $9.7 million for Q1 2025, a decrease from $13.4 million in Q4 2024 and an increase from $6.8 million in Q1 2024 [1] - The company experienced a significant deposit growth of $205.9 million, or 5.7%, during the first quarter, driven by its CCBX partner programs [2][6] - CCBX program fee income increased by 55.2% compared to the same period in 2024, reaching $6.3 million [2][6] Financial Performance - Interest and dividend income for Q1 2025 was $104.9 million, up from $97.4 million in Q1 2024 [5] - Net interest income increased to $76.1 million, a rise of 5.1% from Q4 2024 and 22.3% from Q1 2024 [33] - Noninterest expenses rose to $72.0 million, primarily due to higher salaries and employee benefits, legal and professional expenses, and BaaS loan expenses [6][11] CCBX Segment Update - As of March 31, 2025, the CCBX segment had 25 relationships, with two partners in testing and three in implementation/onboarding [17][21] - CCBX loans increased by $47.2 million, or 2.9%, to $1.65 billion despite selling $744.6 million in loans during the quarter [21][24] - The loan yield for CCBX was 16.88%, reflecting a slight increase from the previous quarter [22] Deposit and Loan Portfolio - Total deposits reached $3.79 billion, with CCBX deposits increasing by $202.9 million, or 9.8% [29][32] - Community bank loans decreased by $16.5 million, or 0.9%, to $1.87 billion due to normal balance fluctuations [30][31] - The cost of deposits for the community bank segment was 1.76%, down from 1.86% in the previous quarter [32] Management Outlook - The company anticipates continued elevated onboarding activity into Q2 2025, with a focus on technology and risk management infrastructure [15] - Future revenue sources are expected to grow as new partnerships and products are launched [15][18] - The company remains focused on managing credit quality and optimizing its loan portfolio earnings [24][18]

Core Viewpoint - The decision by the Commission de protection du territoire agricole du Québec (CPTAQ) to refuse the development of the Miller graphite project raises concerns about its implications for critical mineral projects and the Quebec mining industry as a whole [1][4]. Company Summary - Canada Carbon Inc. (CCB) is focused on the acquisition, exploration, and development of graphite deposits, having acquired two historic graphite mines, the Miller and Asbury mines, in Quebec [8]. - The company believes the CPTAQ's decision is flawed and disregards a Preliminary Economic Assessment that highlights the project's economic benefits [3][6]. - Canada Carbon is evaluating options in response to the CPTAQ's ruling, including a potential appeal [6]. Industry Summary - The CPTAQ's ruling on the Miller project is seen as a precedent that contradicts the Quebec government's goals to accelerate mining projects and the development of critical minerals [4][7]. - The Miller project is noted for its strong mineralogical potential for graphite, which is essential for Quebec's energy transition and aligns with government objectives [5][7].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________ FORM 10-K ________________________________ (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-38589 ________________________________ COASTAL FI ...

Core Points - Canada Carbon Inc. announced a non-brokered private placement of up to 35,000,000 units at a price of $0.02 per unit, aiming for aggregate gross proceeds of up to $700,000 [1] - Each unit consists of one common share and one common share purchase warrant, with the warrant allowing the holder to acquire one common share at a price of $0.06 for a period of 60 months [1] - The proceeds from the offering will be utilized for corporate and general working capital purposes [2] Offering Details - All securities issued will be subject to a hold period of four months plus a day from the date of issuance [2] - The closing of the offering is contingent upon receiving necessary regulatory approvals, including from the TSX Venture Exchange [2] - The company may pay a finder's fee of 8% of the gross proceeds and issue finder's warrants equal to 8% of the units issued [3] Regulatory Compliance - The offering does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States, as the securities have not been registered under the U.S. Securities Act [4] - The company disclaims any intention to update or revise forward-looking information unless required by law [6]

Core Points - Canada Carbon Inc. announced a non-brokered private placement of up to 35,000,000 units at a price of $0.02 per unit, aiming for aggregate gross proceeds of up to $700,000 [1][2] - Each unit consists of one common share and one common share purchase warrant, with the warrant allowing the holder to acquire one common share at a price of $0.06 for a period of 60 months [1][3] - The proceeds from the offering will be utilized for corporate and general working capital purposes [2] Offering Details - The offering is subject to a hold period of four months plus a day from the date of issuance and must comply with applicable securities legislation [2] - The company may pay a finder's fee of 8% of the gross proceeds and issue finder's warrants equal to 8% of the units issued [3] - Each finder's warrant will also allow the holder to acquire one common share at a price of $0.06 for a period of 60 months [3]

Core Insights - Dave Inc. has announced a strategic partnership with Coastal Financial Corporation, where Coastal Community Bank will act as a sponsor bank for Dave's banking products, including the new ExtraCash product, with customer onboarding expected to start in Q2 2025 [1][3][4] Group 1: Partnership Details - The partnership aims to enhance financial services accessibility for underbanked populations, aligning with both companies' missions [2][3] - Coastal Community Bank's customer-first approach and expertise in credit and banking products make it a suitable partner for Dave [4] Group 2: Company Background - Dave is recognized as a leading neobank and fintech company, utilizing disruptive technologies to offer competitive banking services [5] - Coastal Financial Corporation, with a market capitalization of $4.12 billion, operates through 14 branches and provides banking services via its CCBX division [6]

Group 1 - Coastal Financial Corporation (CCB) is experiencing significant attention from investors due to high implied volatility in the options market, particularly the Apr 17, 2025 $35.00 Put option [1] - Implied volatility indicates the market's expectation of future price movement, suggesting that investors anticipate a significant change in Coastal Financial's stock price, potentially due to an upcoming event [2] - Currently, Coastal Financial holds a Zacks Rank 3 (Hold) in the Banks - West industry, which is in the top 5% of the Zacks Industry Rank, but analysts have not increased earnings estimates for the current quarter, with a consensus estimate dropping from $1.04 to $0.93 per share [3] Group 2 - The high implied volatility surrounding Coastal Financial may indicate a developing trading opportunity, as options traders often seek to sell premium on such options to capture decay, hoping the stock does not move as much as expected by expiration [4]

Group 1 - Coastal Financial (CCB) is a bank holding company providing various financial services, with a 12.3% downward revision in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - China Coal Energy (CCOZY) is involved in coal production, sales, and trading, experiencing a 7.5% downward revision in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - Canadian National Railway (CNI) operates in the rail and related transportation sector, with an almost 6% downward revision in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2]

分组1 - Coastal Financial Corporation (CCB) reported quarterly earnings of $0.94 per share, missing the Zacks Consensus Estimate of $1.03 per share, but showing an increase from $0.66 per share a year ago, resulting in an earnings surprise of -8.74% [1] - The company posted revenues of $143.27 million for the quarter ended December 2024, which was 4.29% below the Zacks Consensus Estimate, compared to $124.35 million in revenues a year ago [2] - Coastal Financial has surpassed consensus EPS estimates two times over the last four quarters and has topped consensus revenue estimates just once during the same period [2] 分组2 - The stock has underperformed the market, losing about 0.9% since the beginning of the year, while the S&P 500 has gained 2.2% [3] - The current consensus EPS estimate for the coming quarter is $0.94 on revenues of $153.3 million, and for the current fiscal year, it is $4.79 on revenues of $675.4 million [7] - The Zacks Industry Rank for Banks - West is currently in the top 28% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

Financial Performance - Coastal Financial Corporation reported a net income of $13.4 million, or $0.94 per diluted common share, for Q4 2024, compared to $13.5 million, or $0.97 per diluted common share, in Q3 2024[1]. - Return on average assets (ROA) was 1.30% for the quarter ended December 31, 2024, a decrease from 1.34% in the previous quarter and an increase from 0.97% in the same quarter last year[10]. - Net interest income was $66.5 million for the quarter ended December 31, 2024, a decrease of $5.7 million, or 7.9%, from the previous quarter, but an increase of $6.9 million, or 11.5%, from the same quarter last year[29]. - Net interest margin was 6.65% for the quarter ended December 31, 2024, down from 7.41% in the previous quarter, primarily due to lower loan yield[30]. - Noninterest income for Q4 2024 was $76.8 million, down $3.3 million from Q3 2024 but up $12.1 million from Q4 2023, primarily due to a decrease in BaaS income[36][37]. - The company reported a net interest income after provision for credit losses of $4,649 thousand, compared to a net loss of $22,222 thousand in the same quarter last year[74]. - Basic earnings per common share were $0.97, down from $1.00 in the previous quarter, but up from $0.86 year-over-year[75]. Capital and Growth - The company completed a $98.0 million capital raise during Q4 2024, which will support growth in the Bank and the CCBX segment[2]. - The common equity tier 1 capital ratio increased to 12.04% as of December 31, 2024, benefiting from the capital raise[4]. - The company has three signed letters of intent (LOIs) and an active pipeline for 2025 to support future growth[4]. - Total shareholders' equity increased by $106.8 million since September 30, 2024, primarily due to a $93.4 million increase in common stock outstanding[47]. - The company aims to selectively expand its CCBX partnerships while enhancing technology and risk management infrastructure to support future growth[14]. Loan and Asset Management - The company sold $845.5 million in loans during Q4 2024, primarily consisting of credit card receivables[4]. - Total loans receivable rose by $67.7 million to $3.49 billion at December 31, 2024, compared to $3.42 billion at September 30, 2024[43]. - The community bank saw net loans decrease by $14.6 million, or 0.8%, to $1.88 billion for the quarter ended December 31, 2024[26]. - CCBX loans increased by $82.3 million, or 5.4%, to $1.60 billion despite selling $845.5 million in loans during the quarter[20]. - Total outstanding loan balances amount to $3.49 billion, with unused commitments of $1.96 billion, totaling $5.46 billion[90]. Credit Quality and Losses - Nonperforming assets to total assets ratio improved to 1.52% as of December 31, 2024, down from 1.63% in Q3 2024[8]. - The allowance for credit losses to total loans receivable ratio was 5.08% as of December 31, 2024, compared to 4.98% in Q3 2024[8]. - Net charge-offs for Q4 2024 totaled $55.9 million, an increase from $49.2 million in Q3 2024 and $44.9 million in Q4 2023, with a net charge-off rate of 6.51%[51]. - The total allowance for credit losses was $177.0 million, representing 5.08% of loans receivable as of December 31, 2024, compared to 4.98% in Q3 2024 and 3.86% in Q4 2023[50][51]. - CCBX nonperforming loans decreased to $62.6 million as of December 31, 2024, down from $65.3 million at September 30, 2024[64]. Expense Management - Total non-interest expense decreased by $1.4 million, or 2.1%, to $64.2 million in Q4 2024 compared to Q3 2024[4]. - Noninterest expenses were lower compared to the previous quarter due to a decrease in BaaS loan expense, but higher than the same quarter last year due to increased salaries and technology investments[10]. - Total noninterest expense decreased to $64.2 million in Q4 2024 from $65.6 million in Q3 2024, but increased by $12.5 million from $51.7 million in Q4 2023[38]. BaaS Program Performance - The company continues to focus on expanding its BaaS program, which generated $8,210 thousand in income for the quarter, up from $4,369 thousand a year ago[74]. - BaaS loan interest income for Q4 2024 was $58.671 million, a decrease from $67.692 million in Q3 2024, but an increase from $52.327 million in Q4 2023, with yields of 15.28%, 17.35%, and 17.36% respectively[35]. - The company recorded $62.1 million in BaaS credit enhancements related to provisions for credit losses during the quarter ended December 31, 2024[103]. - The average BaaS loans receivable decreased, leading to a reduction in interest income, primarily due to loan sales aimed at optimizing the loan portfolio[107].