Coastal Community Bank Adds to Executive Leadership

EVERETT, Wash., Aug. 01, 2023 (GLOBE NEWSWIRE) -- Coastal Financial Corporation (Nasdaq: CCB), the bank holding company for Coastal Community Bank, announced that Brian Ferrell has joined the Bank as Executive Vice President, Head of Financial Crimes Compliance, and Bill Rhodes has joined as Executive Vice President, Chief Audit Executive.

Brian is a seasoned corporate regulatory and federal government leader with more than 30 years of expertise in the financial services sector. He has deep expertise in the Anti-Money Laundering (AML) rules and regulations relating to the Bank Secrecy Act/ USA PATRIOT managing the complex regulatory and compliance demands faced by diversified financial services institutions. A graduate of Creighton University with a B.A., Creighton University School of Law with a Juris Doctorate, and Vermont Law and Graduate School with a master's in environmental law and policy, he held leadership roles at the U.S. Department of the Treasury, The Hartford Financial Services Group, and most recently EY, as Principal, Senior Financial Crimes Compliance Practice Leader.

Bill is an executive internal audit leader with more than 20 years of experience spanning both internal and external audit across the Financial Services sector, most recently in scaling the internal audit function of Silicon Valley Bank. Prior to his time at Silicon Valley Bank, Bill worked for PricewaterhouseCoopers, TD Bank Financial Group, and Arthur Andersen. As a graduate of York University with a B.A. in Psychology, University of Windsor with a Bachelor of Commerce with honors, and a Canadian Chartered Accountant, Bill has a track record of leading and transforming the Internal Audit function of rapidly growing financial services institutions. His work includes leading independent assessments on a wide range of topics affecting the financial services industry.

"The invaluable skills and expertise that Brian and Bill bring our organization will further enhance Coastal's transition to a larger, more complex, and dynamic entity," expressed Eric Sprink, CEO. "Undoubtedly, their wealth of experience will prove invaluable as the organization continues to grow."

About Coastal Financial Corporation
Coastal Financial Corporation (NASDAQ: CCB), is an Everett, Washington-based Bank holding company with Coastal Community Bank (the "Bank") a full-service commercial bank, as its sole wholly owned banking subsidiary. The Bank operates through its 14 branches in Snohomish, Island, and King Counties, the Internet, and its mobile banking application. The Bank, through its CCBX division, provides banking as a service ("BaaS") that allows our broker-dealer and digital financial service partners to offer their customers banking services. As of June 30, 2023, we had total assets of $3.54 billion, total gross loans, including loans held for sale, of $3.04 billion, total deposits of $3.16 billion, and total shareholders' equity of $272.7 million. To learn more about Coastal Community Bank visit www.coastalbank.com. Member FDIC.