EXHIBIT 23

                         CONSENT OF INDEPENDENT AUDITORS





                        INDEPENDENT ACCOUNTANTS CONSENT


The Board of Directors
Coastal Financial Corporation and Subsidiaries

We consent to  incorporation  by reference  in the  registration  statements No.
333-1274  and  333-01274  on  Form  S-8 of  Coastal  Financial  Corporation  and
Subsidiaries  (the  "Company")  of our report dated October 17, 1997 relating to
the  consolidated  statements  of  financial  condition  of  the  Company  as of
September  30,  1997  and  1996,  and the  related  consolidated  statements  of
operations,  stockholders'  equity  and cash  flows for each of the years in the
three-year  period  ended  September  30,  1997,  which  report  appears  in the
September 30, 1997, annual report on Form 10-K of the Company.


                                                        /s/KPMG Peat Marwick LLP
                                                        ------------------------
                                                           KPMG Peat Marwick LLP


Greenville, South Carolina
December 26, 1997