Coastal Financial Corporation.
CCB.US | Other monetary intermediation
Coastal Financial Corporation operates as the bank holding company for Coastal Community Bank, a community bank that serves small to medium-sized businesses, their employees, and families in the Puget Sound region of Western Washington. The bank offers a range of deposit products, including checking...Show More
Better Health for All
0
No evidence available to assess Coastal Financial Corporation on Better Health for All.
Fair Money & Economic Opportunity
0
No evidence available to assess Coastal Financial Corporation on Fair Money & Economic Opportunity.
Fair Pay & Worker Respect
20
The company's CEO-to-median employee pay ratio was 18:1 in 2024.
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Employee satisfaction was reported at 85% in 2024.
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There are no mentions of regulatory actions, violations, fines, or compliance issues related to labor laws or human rights across the provided articles.
Fair Trade & Ethical Sourcing
0
Coastal Financial Corporation operates as a bank holding company, providing financial services. Its core business does not involve the procurement or trade of physical commodities or materials that would typically be subject to fair-trade certifications, supply chain audits for ethical sourcing, or risk assessments for high-risk materials like conflict minerals or palm oil. Therefore, the KPIs related to fair-trade certification share, audit frequency for suppliers, forced/child labor incidents in a supply chain, traceability coverage, remediation speed for supply chain violations, and materials risk index are not applicable to the company's operations.
1
Honest & Fair Business
-50
Coastal Community Bank restated its financial reports for 2023 and the first three quarters of 2024 due to a material weakness in internal controls related to interest income and banking-as-a-service expenses, and incorrect accounting for expense reimbursements.
1
The company has a Whistleblower Procedures and Policy, approved by the Board of Directors on April 17, 2024, which includes a 24/7 hotline and online access, non-retaliation provisions, and a log for tracking complaints, investigations, and resolutions, with periodic summary reports to the Audit Committee.
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The company's Code of Ethics and Business Conduct prohibits facilitation payments and kickbacks, requires due diligence for business associates, and mandates internal control systems and procedures subject to regular audits to counter bribery and corruption. Directors, Officers, and Employees are required to inform HR of any gifts received within three working days.
Kind to Animals
0
No relevant evidence was found in the provided articles to assess Coastal Financial Corporation against the 'Kind to Animals' ethical value. The articles explicitly state that no relevant data was found regarding the company's operations, products, or policies related to animal welfare, testing, sourcing, or conservation initiatives.
1
No War, No Weapons
0
The provided articles, including ESG risk ratings and governance documents, do not contain any specific, concrete data points or information relevant to the 'No War, No Weapons' ethical value. There is no evidence regarding revenue from arms contracts, dual-use technology, sales to embargoed regimes, peacebuilding investment, conflict divestment policies, or any other related metrics for Coastal Financial Corporation.
1
Planet-Friendly Business
0
Based on the available evidence, there is insufficient information to accurately assess Coastal Financial Corporation's (CCB.US) alignment with planet-friendly business practices. The provided articles lack specific quantitative data on key environmental metrics such as scope 1, 2, and 3 emissions, renewable energy usage, water consumption, waste diversion rates, and other relevant indicators
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. While one article indicates a DitchCarbon score above the industry average, this single data point is insufficient for a comprehensive evaluation without supporting details on the underlying factors
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. As a financial institution, CCB's direct environmental impact is likely low, but its lending practices could have indirect implications. Without specific policies or initiatives promoting sustainable lending or reducing its environmental footprint, a neutral score is most appropriate. More data is needed to make an accurate assessment.
Respect for Cultures & Communities
0
The provided articles focus primarily on Coastal Financial Corporation's financial performance and general corporate overview.
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Articles 1 and 2 detail initiatives of 'Coast Capital Savings', which is a distinct entity from the company being assessed, CCB.US (Coastal Financial Corporation).
2
Consequently, no specific, factual evidence related to 'Respect for Cultures & Communities' for CCB.US could be found across any of the provided articles.
3
Therefore, all KPIs for this value must be omitted.
Safe & Smart Tech
10
Coastal Financial Corporation demonstrates board-level involvement in AI oversight, indicating a formal approach to AI ethics.
1
Encryption is mentioned as an implemented security measure.
2
The company utilizes the Databricks AI Security Framework for risk identification and mitigation, implying regular audits for high-risk AI systems, and for threat modeling and control implementation, suggesting good vulnerability management.
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The company emphasizes maintaining impeccable compliance and risk management, with a stated 'compliance-first' culture, and has a clean public record with no outstanding regulatory orders or consent decrees.
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The Databricks AI Security Framework is also used to mitigate AI risks, with a 94% model accuracy for customer complaints and 100% customer complaint review coverage, indicating strong prevention and remediation for algorithmic harms.
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The use of the Databricks AI Security Framework implies a focus on privacy by design, but without further detail, it aligns with standard considerations.
6
Zero Waste & Sustainable Products
0
No specific, concrete data points related to waste diversion, product recyclability, packaging sustainability, recycled content, single-use plastic reduction, take-back programs, circular design, waste reduction initiatives, hazardous waste management, product durability, repairability, waste audit frequency, zero-waste certification, waste disposal violations, material efficiency, packaging-to-product ratio, waste reduction targets, supplier waste requirements, or customer waste education were found in the provided articles for Coastal Financial Corporation.
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