Coastal Financial, a community bank in Washington state, raised $41 million by offering 2.85 million shares at $14.50, toward the high end of the $13 to $15 range. It had planned to raise $38 million by offering 2.72 million shares (21% secondary).
The Everett, WA-based company plans to list on the Nasdaq under the symbol CCB. Keefe Bruyette Woods and Hovde Group acted as lead managers on the deal.
