Coastal Names Bank Secrecy Act (BSA) Officer

Everett, Washington, UNITED STATES

EVERETT, Wash., May 23, 2022 (GLOBE NEWSWIRE) -- Coastal Financial Corporation (Nasdaq: CCB) (the “Company”), the holding company for Coastal Community Bank (the “Bank”), announced the hiring of Jeff Ketelhut, CAMS, as Executive Vice President and Bank Secrecy Act (BSA) Officer. In this role, Ketelhut is responsible for developing, implementing, and enforcing Coastal’s BSA compliance program and coordinating with state and federal regulators on these matters.

“Jeff’s unique experience in traditional banking, Banking as a Service, and as a regulatory examiner gives him a strong knowledge of banking laws, regulations, and operations. His expertise includes BSA, anti-money laundering measures, and overall compliance, “ said Andrew Stines, Chief Risk Officer for Coastal. “He joins an already strong team and will add another level of oversight and guidance.”

Before joining Coastal, Ketelhut was Vice President of Compliance for MetaBank, and was a National Bank Examiner for the Office of the Comptroller of the Currency (OCC). He is a Certified Anti-Money Laundering Specialist (CAMS) and earned a bachelor’s degree in Economics from the University of South Dakota.

“I am excited to join Coastal as they continue to enhance an already robust compliance oversight program for both the community bank and CCBX,” said Ketelhut. “Coastal strives to have a strong partnership with compliance in all areas of the bank, and I am excited to be part of the continued development of this collaboration.”

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 14 branches in Snohomish, Island, and King Counties, online and through mobile banking. The Bank’s 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 March 31, 2022, we had total assets of $2.83 billion, total gross loans of $1.96 billion, total deposits of $2.58 billion, and total shareholders’ equity of $207.9 million.To learn more about Coastal Community Bank visit Member FDIC.

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