Coastal Financial is a Washington state-based bank holding company that operates two distinct businesses: a traditional community bank serving the Puget Sound region, and a banking-as-a-service (BaaS) platform called CCBX. The community bank operates 14 branches, primarily in Snohomish County, where it is the largest community bank by deposit market share. It focuses on relationship banking with small and mid-sized businesses and consumers, offering standard commercial and retail products including commercial real estate loans, C&I loans, construction loans, residential mortgages, and deposits. CCBX is the more distinctive business — it provides Coastal's bank charter, balance sheet, and regulatory infrastructure to fintech partners, enabling those partners to offer loans, deposit accounts, credit cards, and other banking products to their own end customers across the U.S. As of year-end 2025, CCBX had 28 partner relationships, and CCBX loans totaled $1.81B, roughly 48% of total loans. The community bank earns net interest income in the conventional way through deposit gathering and lending. CCBX earns fees from partners for use of the bank's infrastructure, while partners handle customer acquisition, servicing, and often underwriting. A key feature of the CCBX model is credit enhancement — 98.8% of CCBX loans are covered by contractual partner reimbursement obligations for credit losses, transferring most credit risk back to the partner. Partners also pledge cash reserve accounts at Coastal, totaling $72.2M at year-end 2025, as additional collateral.