Coastal Financial 8-K Results of Operations and Financial Condition

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 25, 2006

COASTAL FINANCIAL CORPORATION
(Exact Name of Registrant as Specified in Its Charter)

Delaware
(State or other jurisdiction of
incorporation or organization) 0-19684
(Commission
File Number) 57-0925911
(IRS Employer
Identification No.)

2619 Oak Street, Myrtle Beach, South Carolina 29577
(Address of principal executive offices) (Zip Code)

(843) 205-2000
(Registrant’s telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02        Results of Operations and Financial Condition

            On October 25, 2006, Coastal Financial Corporation announced its financial results for the fourth fiscal quarter ended September 30, 2006. The press release announcing financial results for the fourth fiscal quarter ended September 30, 2006 is filed as Exhibit 99.1 and incorporated herein by reference.

Item 9.01        Financial Statements and Exhibits.

Exhibit 99.1 Press Release dated October 25, 2006

SIGNATURES

            Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

COASTAL FINANCIAL CORPORATION



By:        /s/ Michael C. Gerald             Michael C. Gerald
             President and Chief Executive Officer
             October 25, 2006