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Parent Company Only Condensed Financial Information (Tables)
12 Months Ended
Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]  
Summary of Condensed Financial Information of Coastal Financial Corporation
Condensed financial information of Coastal Financial Corporation follows:
December 31,
2022
December 31,
2021
ASSETS
Cash$22,904 $24,306 
Investment in trust equities109 109 
Investment in subsidiaries265,741 202,258 
Other investments3,028 2,482 
Total loans receivable— 350 
Other assets(150)124 
TOTAL ASSETS$291,632 $229,629 
LIABILITIES AND SHAREHOLDERS' EQUITY  
Junior subordinated debentures, net of issuances costs$3,588 $3,586 
Subordinated debt, net of debt issuance costs43,999 24,288 
Interest and dividends payable546 290 
Other liabilities243 
Shareholders' equity243,494 201,222 
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY$291,632 $229,629 
Year ended December 31,
20222021
INTEREST INCOME
Interest earned loans receivable$(14)$14 
Interest bearing other investments
Total interest income(10)17 
INTEREST EXPENSE
Interest on borrowed funds1,322 795 
Total interest expense1,322 795 
Net interest expense(1,332)(778)
PROVISION FOR LOAN LOSSES350 — 
Net interest expense after provision for loan losses(1,682)(778)
NONINTEREST INCOME
Unrealized (loss) gain on equity investment(153)1,469 
Other income23 — 
Total noninterest income(130)1,469 
NONINTEREST EXPENSE
Other expenses711 576 
Total noninterest expense711 576 
Loss before income taxes and undistributed net income of subsidiary(2,523)115 
Equity in undistributed income of consolidated subsidiaries42,674 26,917 
Income tax (benefit) expense (474)27 
NET INCOME$40,625 $27,005 
Year ended December 31,
20222021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income$40,625 $27,005 
Adjustments to reconcile net income to net cash used by operating activities:  
Equity in undistributed income of consolidated subsidiaries(42,674)(26,917)
Stock-based compensation295 162 
Unrealized loss (gain) on equity investment153 (1,469)
Decrease (increase) in other assets274 
Increase in other liabilities106 452 
Net cash used by operating activities(1,221)(762)
CASH FLOWS FROM INVESTING ACTIVITIES:
Investments in subsidiaries(20,925)(26,500)
Investments in loans receivable350 (350)
Investments in other, net(699)(163)
Net cash used by investing activities(21,274)(27,013)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of stock options1,468 360 
Proceeds from public offering, net— 32,387 
Proceeds from subordinated debt19,625 24,263 
Repayment of subordinated debt— (10,000)
Net cash provided by financing activities21,093 47,010 
NET CHANGE IN CASH(1,402)19,235 
Cash, beginning of year24,306 5,071 
Cash, end of year$22,904 $24,306