EXHIBIT 23

                         CONSENT OF INDEPENDENT AUDITORS


The Board of Directors
Coastal Financial Corporation:


We consent to  incorporation  by reference in the  registration  statements (No.
333-54794, 333-49741 and 333-01274) on Form S-8 of Coastal Financial Corporation
of our  report  dated  October  24,  2001,  with  respect  to  the  consolidated
statements  of  financial   condition  of  Coastal  Financial   Corporation  and
subsidiaries  as of September  30, 2001 and 2000,  and the related  consolidated
statements of operations,  stockholders'  equity and comprehensive  income,  and
cash flows for each of the years in the  three-year  period ended  September 30,
2001, which report is incorporated by reference in the September 30, 2001 Annual
Report on Form 10-K of Coastal Financial Corporation.


                                                        /s/ KPMG LLP
                                                        ------------
                                                        KPMG LLP

Greenville, South Carolina
December 21, 2001