Coastal Financial Washington

Q2 FY2026 EarningsQ2 FY2026 results significantly missed consensus expectations, reporting a net loss of $42.1M compared to an expected net income of $16.1M. Diluted EPS was $(2.76) vs. $1.01 expected. The miss was primarily driven by a $68.8M credit expense related to a single CCBX partner relationship, leading to a massive spike in provision for credit losses to $92.2M (vs. $51.4M in Q1). Despite these one-time credit impacts, BaaS program income rose 10.3% QoQ and core loan growth remained steady at 9.0%.