EVERETT, Wash., May 14, 2020 (GLOBE NEWSWIRE) — Coastal Financial Corporation (NASDAQ: CCB), the parent company of Coastal Community Bank, has been awarded the Raymond James Community Bankers Cup for 2019.
The eighth annual Raymond James Community Bankers Cup recognizes the top 10% of community banks in the nation. Of the 255 community banks considered for the award, the top 10% demonstrated superior performance on a relative basis in one or more of the following measurements of financial performance and stability:
- Nonperforming assets to loans and real estate owned
- Five-year average core deposit percentage
- Net interest margin
- Efficiency ratio
- Return on average assets
- Return on average tangible common equity
“This is the first year Coastal Financial Corporation has received this award and it’s a huge honor,” said Eric Sprink, President & CEO, Coastal Financial Corporation. “Coastal Financial Corporation went public in 2017 and receiving the Raymond James Community Bankers Cup recognizes the hard work and dedication of our board and staff at all levels.”
About Raymond James
Raymond James was established in 1962 on the principle of always putting the needs of clients first, a standard we see reflected in the way you operate your business. This principle remains the foundation on which we continue to build our company – one of North America’s leading full-service investment banks, with a broad presence across the United States, Western Europe and Canada.
About Coastal Financial Corporation
Coastal Financial Corporation (NASDAQ: CCB) (the “Company”), is an Everett, Washington based bank holding company with Coastal Community Bank (the “Bank”), a full-service commercial bank, as its sole wholly-owned banking subsidiary. The Bank operates through its 14 branches in Snohomish, Island, and King Counties, the Internet and its mobile banking application. To learn more about Coastal Community Bank visit www.coastalbank.com.
EVP, Chief Financial Officer