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COASTAL FINANCIAL CORPORATION NEWS RELEASE Coastal Financial Corporation Announces Second Quarter 2021 Results 7/27/2021 Second Quarter 2021 Highlights : • Net income totaled $ 7.0 million for the quarter ended June 30 , 2021 , or $ 0.56 per diluted common share , an increase of 16.5 % from $ 6.0 million , or $ 0.49 per diluted common share , for the quarter ended March 31 , 2021 . • Basic earnings per share increased 18.0 % , and diluted earnings per share increased 15.9 % , for the quarter ended June 30 , 2021 , compared to the quarter ended March 31 , 2021 . • Total deposits increased $ 130.0 million , or 7.8 % , to $ 1.8 billion for the quarter ended June 30 , 2021 , compared to $ 1.67 billion at March 31 , 2021 . • Loan growth of $ 35.7 million , or 2.9 % , excluding Paycheck Protection Program ( " PPP " ) loans during the quarter ended June 30 , 2021 . • CCBX relationships increased to 24 at June 30 , 2021 , compared to 21 at March 31 , 2021 . EVERETT , Wash . , July 27 , 2021 ( GLOBE NEWSWIRE ) -- Coastal Financial Corporation ( Nasdaq : CCB ) ( the " Company " ) , the holding company for Coastal Community Bank ( the " Bank " ) , today reported unaudited financial results for the quarter ended June 30 , 2021. Net income for the second quarter of 2021 was $ 7.0 million , or $ 0.56 per diluted common share , compared with net income of $ 6.0 million , or $ 0.49 per diluted common share , for the first quarter of 2021 , and $ 3.7 million , or $ 0.30 per diluted common share , for the quarter ended June 30 , 2020 . " The second quarter of 2021 ended with total assets of $ 2.01 billion , down just $ 22.2 million from March 31 , 2021 despite $ 173.2 million in PPP loan forgiveness , pay - offs and principal paydowns during the quarter , and the payoff of $ 158.5 million in Paycheck Protection Program Liquidity Facility ( " PPPLF " ) 1