Coastal Appoints New Chairman – GuruFocus.com

EVERETT, Wash., May 18, 2022 (GLOBE NEWSWIRE) — Coastal Financial Corporation (CCB) (the “Company”), the holding company of Coastal Community Bank (the “Bank”), announced the hiring of Curt Queyrouze as of president. Eric Sprink will continue as CEO as the Bank expands the Bank’s management team by nearly $3 billion.

“As Coastal becomes a more complex and rapidly growing bank, with both our community bank and our Banking as a Service (BaaS) division, CCBX, we recognize the importance of adding key skills and leadership at all levels to improve the programs we already have in place,” Sprink said. “Adding Curt to our leadership team will ensure we have continued focus and resources as we build a strong infrastructure to better serve our increasingly diverse local and fintech customers,” he said.

Queyrouze has specialized training in credit, risk management and financial technology. He was most recently President and CEO of TAB Bank, UT, and brings extensive experience in managing a community bank and fintech partnerships through BaaS. During his tenure at TAB Bank, the $1.2 billion bank leveraged investments in a data platform, API stack and agile development to transform the all-digital bank into a leader of the market.

“I am delighted to join the Coastal team within an already successful technology organization that provides innovative banking products and services, both through community banking and CCBX partners, to a wide range of consumers. and small businesses,” Queyrouze said. He takes particular pride in bringing the best of community banking to the digital sphere. “The banking industry has the ability to positively impact the lives of our customers, including underserved or underbanked populations, and Coastal is uniquely positioned to use a combination of data and analytics while supporting ‘associating directly with customers to focus on their well-being,’ added Queyrouze.

In addition to TAB Bank, Queyrouze’s career includes a variety of leadership roles at banks ranging from top ten and regional to community institutions, and as COO of a fintech company. He holds a degree in accounting from Louisiana State University and is active in his community and in banking industry organizations.

Coastal worked with The Travillian Group, LLC, a national executive search firm serving the financial services industry, to help attract and fill the position of President through a nationwide search.

About Coastal Financial Corporation

Coastal Financial Corporation (CCB), is a bank holding company based in Everett, Washington, with Coastal Community Bank (the “Bank”), a full-service commercial bank, as its sole wholly owned banking subsidiary . The Bank operates 14 branches in Snohomish, Island and King counties, online and through mobile banking. The Bank’s CCBX division provides Banking as a Service (“BaaS”) that enables our brokers and digital financial services partners to offer banking services to their customers. As of March 31, 2022, we had total assets of $2.83 billion, total gross loans of $1.96 billion, total deposits of $2.58 billion and total equity of $207.9 million. of dollars. To learn more about Coastal Community Bank, visit www.coastalbank.com. FDIC member.


Forward-looking statements

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Should one or more events related to these or other risks or uncertainties materialize, or should our underlying assumptions prove incorrect, actual results could differ materially from what we anticipate. In addition, many of these risks and uncertainties are currently magnified by and may continue to be magnified or may, in the future, be magnified by the COVID-19 pandemic, including the emergence of variant strains of the virus, the rate at which the COVID-19 vaccine can be distributed and administered to residents of the markets the Company serves and the United States generally, and the impact of various government responses that affect our customers and the economies in which they operate. You are cautioned not to place undue reliance on forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made. statement is made or to reflect the occurrence of unforeseen events, except as required by law.

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