Coastal Financial signs term sheet to acquire Evolve BaaS program assets, deposits

COASTAL FINANCIAL CORP

COASTAL FINANCIAL CORP

CCB

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  • Coastal Community Bank signed a non-binding term sheet with Evolve Bank & Trust to potentially acquire assets and deposits tied to certain banking-as-a-service programs currently overseen by Evolve.
  • Due diligence is set to begin promptly on selected programs.
  • Definitive agreements are expected to be negotiated for any programs chosen for acquisition.
  • Any acquisitions would remain subject to required regulatory approvals and customary closing conditions.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Coastal Financial Corp. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001437958-26-000035), on April 29, 2026, and is solely responsible for the information contained therein.

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