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Coastal Financial Swings to Q2 Loss, Revenue Rises; Shares Down Pre-Bell

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Coastal Financial (CCB) reported a Q2 loss Thursday of $2.76 per diluted share, compared with earnings of $0.71 a year ago.

Four analysts polled by FactSet expected earnings of $1.

Revenue for the quarter ended June 30, expressed as the sum of net interest income and noninterest income, was $178.1 million, up from $119.4 million a year ago.

Three analysts expected $148.5 million.

Shares of Coastal Financial were down more than 3% in premarket activity Thursday.

Price: $68.50, Change: $-2.16, Percent Change: -3.06%

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