EVERETT — Coastal Financial, the holding company for Coastal Community Bank, priced its initial public offering of stock at $14.50 per share. The Everett-based company raised nearly $40 million before costs by selling 2.15 million shares, while a stockholder sold another 700,000 shares in the offering. Shares will begin trading Wednesday under the ticker symbol “CCB” on Nasdaq.
The company’s prospectus said the 10-branch institution’s strategy is to continue focusing on Snohomish County and avoid the more populous but more competitive market in King County.
