NasdaqGS:CCBBanks
Why Coastal Financial (CCB) Is Down 11.3% After Revenue Miss Despite Loan And Deposit Growth
Coastal Financial recently reported a past-quarter update showing a 1.3% year-on-year revenue decline, missing analysts’ expectations by 16.6%, even as loans receivable grew 1.2% and deposits rose 4.3%.
Management emphasized the potential of its Banking-as-a-Service platform, highlighting plans to expand product offerings and scale new and existing partnerships despite the disappointing revenue and net interest income performance.
We’ll now examine how Coastal Financial’s revenue shortfall...