Coastal Community Bank Announces Addition of Chief Risk Officer
January 22 2020 - 7:10PM
Coastal Community Bank announces the addition of Andrew Stines as
Chief Risk Officer. Stines has a degree in Business Management from
the University of Colorado, a Masters in Finance from Seattle
University School of Business, and a Juris Doctor from Seattle
University School of Law.
Stines brings a successful track record of legal, compliance,
and risk management experience. Prior to joining Coastal he was a
Managing Director in the Financial Services Risk Management group
at Ernst & Young, LLP, Chief Risk Officer at Sunwest Bank, and
an attorney in Seattle with Dorsey & Whitney, LLP. Stines will
lead the risk enterprise that is currently led by Dan Lee who has
been both Chief Risk and Credit Officer. Lee will continue as Chief
Credit Officer.
“As the bank grows and becomes more complex, it’s time to have
dedicated leadership in both key roles,” said Eric Sprink,
President & CEO, Coastal Community Bank. “Dan has provided
excellent leadership, which will enable Andy to step into the role
of Chief Risk Officer with a solid program already in place. Andy’s
unique background in working closely with regulators while having
engaged with large Fintech firms will enable us to build an even
more robust compliance and oversight platform for both Coastal and
our Fintech partners.”
About Coastal Community BankCoastal Financial
Corporation (Nasdaq: CCB) (the “Company”) is an Everett, Washington
based bank holding company with Coastal, a full-service commercial
bank, as its sole wholly-owned banking subsidiary. The $1
billion community bank that Coastal operates provides service
through 14 branches in Snohomish, Island, and King Counties, the
Internet, and its mobile banking application. Coastal provides
select partners with BaaS (banking as a service) through its CCBX
Division. To learn more about Coastal visit
www.coastalbank.com.
Forward-Looking StatementsThis Press Release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements reflect the Company’s current views with
respect to, among other things, future events and the Company’s
financial performance. Any statements about the Company’s
expectations, beliefs, plans, predictions, forecasts, objectives,
assumptions or future events or performance are not historical
facts and may be forward-looking. These statements are often, but
not always, made through the use of words or phrases such as
“anticipate,” “believes,” “can,” “could,” “may,” “predicts,”
“potential,” “should,” “will,” “estimate,” “plans,” “projects,”
“continuing,” “ongoing,” “expects,” “intends” and similar words or
phrases. Any or all of the forward-looking statements in (or
conveyed orally regarding) this presentation may turn out to be
inaccurate. The inclusion of or reference to forward-looking
information in this presentation should not be regarded as a
representation by the Company or any other person that the future
plans, estimates or expectations contemplated by the Company will
be achieved. The Company has based these forward-looking statements
largely on its current expectations and projections about future
events and financial trends that the Company believes may affect
its financial condition, results of operations, business strategy
and financial needs. The Company’s actual results could differ
materially from those anticipated in such forward-looking
statements as a result of risks, uncertainties and assumptions that
are difficult to predict. Factors that could cause actual results
to differ materially from those in the forward-looking statements
include, without limitation, the risks and uncertainties discussed
under “Risk Factors” in Form 10-K for the year ended December 31,
2018, and in any of the Company’s subsequent filings with the
Securities and Exchange Commission. If one or more events related
to these or other risks or uncertainties materialize, or if the
Company’s underlying assumptions prove to be incorrect, actual
results may differ materially from what the Company anticipates.
You are cautioned not to place undue reliance on forward-looking
statements. Further, any forward-looking statement speaks only as
of the date on which it is made and the Company undertakes no
obligation to update or revise any forward-looking statement to
reflect events or circumstances after the date on which the
statement is made or to reflect the occurrence of unanticipated
events.
Contact:
Joel Edwards
Chief Financial Officer
425.357.3687
jedwards@coastalbank.com
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