COASTAL FINANCIAL CORP

Coastal Financial’s stock rises about 4.7% today, pulling back from levels near its 52-week low. The increase comes without new company-specific news and appears largely to be a technical recovery after the sharp decline following the Q2 results. In Q2 Coastal Financial reported a net loss of $42.1 million, driven by a loan charge of $68.8 million in the CCBX segment; several analysts subsequently cut their price targets and investigations into the disclosures were opened. Partly positive sentiment in the regional banking sector is providing short-term support for the stock, but a sustained recovery depends on management clarifying the CCBX issue. » More on de.investing.com

Brandon Soto will step down from his role as executive vice president and chief financial officer at Coastal Financial effective August 15, 2026, to take the CEO position at a bank subsidiary of a privately held fintech company. Soto will remain available to the company until the filing of the quarterly report (Form 10‑Q) for the second quarter of 2026. Joel Edwards will become interim CFO as of August 15, 2026, while Coastal Financial evaluates internal and external candidates for a permanent successor. The bank holding has total assets of $5.66 billion and operates 14 branches. » More on de.investing.com

The board of directors of CoastalSouth Bancshares has approved a repurchase program of up to $15 million, effective today and running through April 30, 2027. Repurchases may be made in the open market, through accelerated programs, via privately negotiated transactions or under Rule 10b-18; a 10b5-1 trading plan is possible. The program does not commit to purchasing a fixed number of shares and may be adjusted or terminated at any time. The stock is trading at $25.55, near its 52-week high, and InvestingPro has estimated a fair value of $28.90, rating it as undervalued. » More on de.investing.com