Key insight: A community bank in Virginia has been freed from a consent order related to its previous fintech partnerships. Expert quote: "We just threw BaaS out the door," said CEO Billy Beale. Forward look: The bank is now focused on a traditional community bank strategy, Beale said. Blue Ridge Bankshares in Richmond, Virginia, which became a poster child for what can go wrong when banks partner with fintechs, has been released from a 2024 consent order related to its failed foray into banking as a s ...

Core Insights - Helix has partnered with Bangor Savings Bank to enhance its Banking as a Service (BaaS) capabilities, aiming to improve operational efficiencies and expand access to innovative fintech collaborations [1][2][3] Company Overview - Bangor Savings Bank, founded in 1852, has over $7 billion in assets and has been developing its BaaS program to provide tailored solutions for fintech companies [2] - Helix by Q2 is recognized for its cloud-native core designed for embedded finance, which will support Bangor Savings Bank in delivering innovative financial solutions [1][4] Partnership Details - The partnership allows Bangor Savings Bank to leverage Helix's proven success in powering fintech programs, enhancing operational efficiency, and driving automation [3] - Bangor Savings Bank selected Helix due to its experience, reliability, and tools necessary for expanding BaaS offerings [3][4] Strategic Goals - The collaboration aims to create cutting-edge financial experiences for customers and businesses across the U.S. by combining Helix's technology with Bangor Savings Bank's community-first values [3][4] - Helix's platform provides essential banking components such as accounts, cards, payments, and data controls, facilitating the integration of personalized financial experiences [8]

Financial Performance - Diluted EPS 为 $088，高于上一季度的 $071[19] - 净收入为 $136 million，比上一季度增长 232%，比去年同期增长 10%[19] - 核心税前拨备前净收入 (PPNR) 为 $191 million，比上一季度增长 246%，比去年同期增长 155%[19] - 总收入增长 211%，达到 $1447 million[12,19] - 核心净收入增长 13%，达到 $529 million[12,19] Balance Sheet - 贷款总额（扣除递延费用）增加 $1635 million，即 46%，达到 $370 billion[12,19] - 存款增加 $590 million，即 15%，达到 $397 billion[12,19] - 有形账面价值增长 28%，达到每股 $3145[19] - 将 $6723 million 的存款转移到表外，用于 FDIC 保险和流动性目的，产生 $311000 的非利息收入[12,19] CCBX (Banking as a Service) - CCBX 贷款销售额为 $162 billion，高于上一季度的 $130 billion[19] - CCBX 贷款总额增长 $1239 million，即 74%[61] - CCBX 存款增长 $148 million，即 06%[61] - BaaS 项目费用收入同比增长 465%[37,52] Capital and Liquidity - 现金和即时借款能力合计 $135 billion[27] - 相当于 2025 年 9 月 30 日存款总额的 340%[27] - 一级杠杆资本为 105%[27] - 普通股一级风险资本为 123%[19,27]

Core Insights - Coastal Financial Corporation reported a net income of $13.6 million for Q3 2025, an increase from $11.0 million in Q2 2025 and $13.5 million in Q3 2024, translating to earnings per diluted share of $0.88 [1][4] - The company experienced a 4.6% increase in loans receivable, amounting to $163.5 million, and a 1.5% growth in deposits totaling $59.0 million during the same quarter [2][4] Financial Performance - Interest and dividend income reached $109.0 million, up from $107.8 million in Q2 2025 and $105.2 million in Q3 2024 [5] - Net interest income was $77.9 million, reflecting a 1.5% increase from $76.7 million in Q2 2025 and a 7.8% increase from $72.3 million in Q3 2024 [38] - Noninterest income totaled $66.8 million, compared to $42.7 million in Q2 2025 and $78.8 million in Q3 2024 [5] Loan and Deposit Growth - Average deposits were $3.97 billion, an increase of $40.7 million or 1.0% from Q2 2025, primarily driven by CCBX partner programs [6] - The community bank segment saw net loans increase by $39.6 million, or 2.1%, to $1.90 billion [34] CCBX Segment Performance - The CCBX segment reported a total of 29 relationships, with 2 partners in testing, 4 in implementation, and 2 signed letters of intent as of September 30, 2025 [20][24] - CCBX loans increased by $123.9 million, or 7.4%, to $1.80 billion despite selling $1.62 billion in loans during the quarter [24][27] Cost Management and Efficiency - Total noninterest expense decreased by $2.7 million, or 3.7%, to $70.2 million compared to Q2 2025, mainly due to lower legal and professional expenses [6] - The efficiency ratio improved to 48.50% from 60.98% in Q2 2025, indicating better operational efficiency [17] Credit Quality - Nonperforming assets to total assets ratio improved to 1.31% from 1.36% in Q2 2025, while the allowance for credit losses to nonperforming loans ratio was 290.8% [8][12] - The company reported gross charge-offs of $54.5 million for the quarter, slightly up from $53.8 million in Q2 2025 [8] Management Outlook - The company anticipates further growth in the BaaS space with new partner engagements and continued investment in technology and risk management infrastructure [18] - Credit quality remains a central focus, with a strategy to manage the balance sheet effectively in response to interest rate changes [18]

Core Insights - Coastal Financial Corporation reported a net income of $11.0 million for Q2 2025, an increase from $9.7 million in Q1 2025 but a decrease from $11.6 million in Q2 2024 [1] - The company experienced a quality deposit growth of $122.3 million during Q2 2025, with CCBX program fee income increasing by 8.2% compared to the previous quarter [2][18] Financial Performance - Interest and dividend income for Q2 2025 was $107.8 million, up from $104.9 million in Q1 2025 and $97.4 million in Q2 2024 [5] - Net interest income increased to $76.7 million in Q2 2025 from $76.1 million in Q1 2025 and $66.2 million in Q2 2024 [38] - Noninterest income was $42.7 million in Q2 2025, down from $63.5 million in Q1 2025 [5] - Total assets reached $4.48 billion as of June 30, 2025, compared to $4.34 billion at the end of Q1 2025 [5] Credit Quality and Loss Provisions - Provision for credit losses decreased to $32.2 million in Q2 2025 from $55.8 million in Q1 2025, reflecting improved performance in the CCBX portfolio [5][12] - Nonperforming loans to total loans receivable ratio was 1.72% as of June 30, 2025, compared to 1.60% in Q1 2025 [7] CCBX Segment Performance - CCBX loans increased by $29.5 million, or 1.8%, to $1.68 billion despite selling $1.30 billion in loans during Q2 2025 [24] - The CCBX segment had 29 relationships as of June 30, 2025, with two partners in testing and five signed letters of intent [20] - Total BaaS program fee income was $6.8 million in Q2 2025, an increase of $512,000 from Q1 2025 [6] Community Bank Performance - The community bank segment saw net loans decrease by $6.5 million, or 0.3%, to $1.86 billion in Q2 2025 [35] - Community bank deposits increased by $29.2 million, or 1.9%, to $1.55 billion during the same period [37] Management Outlook - The company anticipates additional new partner engagements in the latter half of 2025, supported by a strong CCBX pipeline [18] - Continued investments in technology and risk management infrastructure are expected to yield future efficiencies and cost reductions [18]

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]