Coastal Financial CFO departs to lead fintech bank subsidiary

Coastal Financial Corporation (NASDAQ: CCB) announced that Brandon Soto, Executive Vice President and Chief Financial Officer, will leave the company effective August 15, 2026, to become Chief Executive Officer of a banking subsidiary of a privately held financial technology company.

Joel Edwards, who served as CFO of Coastal Financial from 2012 until his retirement in 2025 and has since worked as an advisor to the company, will assume the role of Interim Chief Financial Officer on the same date. The Everett, Washington-based bank holding company said it will search for a permanent CFO, considering both internal and external candidates.

Soto will remain with the company through the filing and certification of its quarterly report on Form 10-Q for the second quarter of 2026.

Eric Sprink, CEO of Coastal Financial, said in the press release statement: "While we conduct a search for a permanent Chief Financial Officer, we are fortunate to have Joel step back into the CFO role on an interim basis. Joel's deep familiarity with our financials and team will help ensure continuity for our shareholders, partners, and customers during the transition period."

Coastal Financial operates through its subsidiary, Coastal Community Bank, which holds $5.66 billion in assets and provides services through 14 full-service branches in Snohomish, Island, and King Counties in Washington state.

You May Also Be Interested In

• McCormick board member to resign after CFO appointment at Best Buy
• Northpointe Bancshares names new COO and chief credit officer
• Outlook Therapeutics names Kevin Lundquist as CFO ahead of U.S. launch