Coastal Community Bank Announces $375,000 in Multiyear Community Development Grants

EVERETT, Wash., Oct. 07, 2026 (GLOBE NEWSWIRE) -- Coastal Community Bank (the “Bank”, “Coastal”, or “we”) has awarded three multiyear community development grants totaling $375,000 to nonprofit organizations serving Snohomish and King counties. 

Local Initiatives Support Corporation Puget Sound (“LISC”) received a $150,000 grant over three years to support community development efforts in Everett and Snohomish County. The funding will help bring community partners together, strengthen local organizations, coordinate development strategies, and advance projects that expand housing and economic opportunity. 

LISC provides community development services by coordinating cross-sector partnerships, convening public agencies and nonprofit organizations, and delivering technical assistance and capacity-building support to housing developers and community-based organizations serving low- and moderate-income communities. These activities facilitate the creation and preservation of affordable housing, strengthen local economic ecosystems, support small businesses and workforce development efforts, and address emerging community needs that impact low- to moderate-income residents.  

VOA of Western Washington (“VOA”) received a $150,000 grant over three years to help support construction costs for the Lynnwood Neighborhood Center. The multigenerational center is expected to serve more than 20,000 people annually in south Snohomish County, with a focus on residents with low to moderate incomes. 

VOA provides essential human services and workforce development support to low-income households, including immigrant and refugee populations, through job training, resume assistance, and education support that improve employment readiness and access to economic opportunity. The organization also supports affordable housing by helping low-income families address housing-related needs such as rent, utilities, and supportive services that promote housing stability and reduce cost burden.  

Housing Consortium of Everett and Snohomish County (“HCESC “) received a $75,000 grant over three years to fund capacity-building staff positions that strengthen HCESC’s ability to provide technical guidance, community engagement, education, and policy leadership that facilitate the creation and preservation of affordable housing for low- and moderate-income individuals.  

HCESC serves as a countywide leader and convener addressing the region’s critical affordable housing shortage by coordinating housing developers, service providers, policymakers, and community members to advance equitable housing solutions.  

“These organizations are doing essential work to expand housing and economic opportunity in our communities,” said Chris Adams, Executive Chair at Coastal Community Bank. “Multiyear funding gives them the flexibility to build partnerships, strengthen their teams, and carry projects forward. We’re proud to support work that will make a lasting difference for our neighbors in Snohomish and King counties.” 

About Coastal Financial

Coastal Financial Corporation (Nasdaq: CCB) (the “Company”), is an Everett, Washington based bank holding company whose wholly owned subsidiaries are Coastal Community Bank (“Bank”) and Arlington Olympic LLC.  The $5.46 billion Bank provides service through 14 full-service branches in Snohomish, Island and King Counties, one loan production office in King County, the Internet and its mobile banking application. The Bank provides banking as a service to digital financial service providers, companies and brands that want to provide financial services to their customers through the Bank's CCBX segment. To learn more about the Company visit www.coastalbank.com.

Contact
Chris D. Adams, Executive Chair of Coastal Financial Corporation, cadams@coastalbank.com
Eric Sprink, Chief Executive Officer, esprink@coastalbank.com
Joel G. Edwards, Chief Financial Officer, jedwards@coastalbank.com

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