Coastal Financial reported Bluevine's planned sale and $447 million in related deposits. It cited 22 partner relationships and backup funding, but reported no deposit change, leaving its outlook unchanged.
The main concern is the $447 million in Bluevine-related deposits held at the bank. Coastal says it can move sweep deposits onto its own balance sheet and has 22 other partner relationships. That gives it options if the relationship changes. The deal still needs approval, and the filing does not say Bluevine deposits have left or will leave. So it points to a possible change, not a confirmed loss for Coastal.
Valley National agreed to buy Bluevine, but the filing gives no expected effect on Valley's business. The deal still needs regulatory approval, so the report does not change its outlook.
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