Jason Wingo Joins Coastal Community Bank as Head of BSA/AML Strategy and Solution Management
February 02 2024 - 11:00AM
Coastal Financial Corporation (Nasdaq: CCB), the bank holding
company for Coastal Community Bank, announced that Jason Wingo has
joined the Bank as Senior Vice President, Head of Bank Security Act
(BSA) and Anti-Money Laundering (AML) Strategy and Solution
Management. He reports to Brian Ferrell, EVP, Head of Financial
Crimes.
Mr Wingo is a seasoned IT leader with more than 20 years of
experience in multiple platforms, including web-based,
client-server, and mainframe. He has extensive experience in
requirement gathering, data analysis, development, testing,
implementation, and deep expertise in AML, trading compliance, and
project management.
Most recently, Mr. Wingo was SVP of Financial Crimes Technology
at Truist Financial. Before that, he was Executive Director at
Ernst and Young LLP and held leadership roles at Matrix-IFS,
Century Link, and AG Edwards.
Wingo received his Bachelor of Science from the University of
Missouri and Master of Business Administration from Webster
University. He is a certified anti-money laundering specialist and
CAMS certified.
“With a proven track record in navigating regulatory
complexities and implementing innovative solutions, Jason brings
invaluable expertise that strengthens and demonstrates our
commitment to compliance, ensuring Coastal’s continued success and
growth,” said Eric Sprink, CEO. “He will complement a great
existing team.”
About Coastal Financial Corporation
Coastal Financial Corporation (Nasdaq: CCB), is an Everett,
Washington-based bank holding company with Coastal Community Bank
(the “Bank”) a full-service commercial bank, as its sole wholly
owned banking subsidiary. The Bank operates through its 14 branches
in Snohomish, Island, and King Counties, the Internet, and its
mobile banking application. The Bank, through its CCBX segment,
provides banking as a service (“BaaS”) that allows our
broker-dealer and digital financial service partners to offer their
customers banking services. As of January 30, 2024, we had total
assets of $3.75 billion, total gross loans of $3.03 billion, total
deposits of $3.36 billion, and total shareholders’ equity of $295.0
million. To learn more about Coastal Community Bank visit
www.coastalbank.com. Member FDIC.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements reflect our current views
with respect to, among other things, future events and our
financial performance. Any statements about our management’s
expectations, beliefs, plans, predictions, forecasts, objectives,
assumptions or future events or performance are not historical
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inclusion of or reference to forward-looking information in this
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any other person that the future plans, estimates or expectations
contemplated by us will be achieved. We have based these
forward-looking statements on our current expectations and
projections about future events and financial trends that we
believe may affect our financial condition, results of operations,
business strategy, and financial needs. Our 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, an increase in unemployment levels and
slowdowns in economic growth; our expected future financial
results; the overall health of the local and national real estate
market; the credit risk associated with our loan portfolio, such as
possible additional loan losses and impairment of collectability of
loans as a result of the COVID-19 pandemic and policies and
programs implemented by the Coronavirus Aid, Relief, and Economic
Security Act (“CARES Act”), including its automatic loan
forbearance provisions and the effects on our loan portfolio from
our Paycheck Protection Program (“PPP”) lending activities,
specifically with our commercial real estate loans, and the success
of new hires in achieving anticipated objectives. For further
information with respect to 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 our Annual Report on Form 10-K for the most
recent period filed, our Quarterly Report on Form 10-Q for the most
recent quarter, and in any of our subsequent filings with the
Securities and Exchange Commission.
If one or more events related to these or other risks or
uncertainties materialize, or if our underlying assumptions prove
to be incorrect, actual results may differ materially from what we
anticipate. 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 we undertake 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, except as required by law.
Contact:
Joel Edwards
Chief Financial Officer
425.357.3687
JEdwards@coastalbank.com
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