Sprink’s Sale: A Mildly Ominous Sign?

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So, Eric Sprink, the CEO of Coastal Financial – a name that conjures images of sensible shoes and meticulously balanced spreadsheets – recently unloaded a chunk of stock. Twelve thousand, four hundred and two shares, to be precise. Worth roughly $1.4 million. It’s the kind of number that makes me immediately check my own bank balance, which, as always, is a disappointment. I spend a lot of time looking at these things, these little transactions, trying to discern a pattern, a hidden message. Mostly, I just feel tired.

A Closer Look

The details, as always, are…dense. A table, naturally. I always think of tables as a passive-aggressive way for companies to say, “We’re providing transparency, but good luck making sense of it.” Apparently, this wasn’t a sudden, panicked sell-off. It was a pre-planned thing, a “Rule 10b5-1 trading plan.” Which sounds suspiciously like a loophole designed to make rich people feel less guilty. The numbers, stripped of all drama, are these: he sold, reducing his direct holdings by 7.23% to 159,126 shares. He still has a decent stash, and about 2,085 shares indirectly. It’s like watching someone slowly, methodically empty a cookie jar. You know they’ll stop eventually, but the process is… unsettling.

Metric Value
Shares Sold (Direct) 12,402
Transaction Value ~$1.4 million
Post-Transaction Shares (Direct) 159,126
Post-Transaction Shares (Indirect) 2,085
Post-Transaction Value (Direct Ownership) ~$18.4 million

They tell us he’s been gradually reducing his stake since 2023. Which, okay, makes sense. Locking in profits. Smart move. But it still feels…personal. Like he’s subtly signaling something. Or maybe I just spend too much time analyzing the financial habits of strangers.

Coastal Financial: A Snapshot

Coastal Financial, for those unfamiliar, is a regional bank in Washington state. They offer all the usual things – loans, checking accounts, the occasional free pen. They also do this “banking-as-a-service” thing, which sounds incredibly complicated and probably involves a lot of algorithms. They’re doing alright, apparently. Revenue is around $527.87 million, net income $47.72 million. Numbers. More numbers. I swear, sometimes I feel like I’m drowning in them.

Metric Value
Price (as of 1/22/26) $114.83
Market Capitalization $1.61 billion
Revenue (TTM) $527.87 million
Net Income (TTM) $47.72 million

They recently acquired a company called GreenFi, which focuses on “climate-friendly financial services.” Which is good. I guess. It feels like a calculated move, a way to appeal to a certain demographic. They’re not investing in fossil fuels, which is…relieving. Although, honestly, I suspect most CEOs don’t spend a lot of time worrying about carbon offsets.

So, What Does It All Mean?

The stock has been doing well, up 24% in the last year. It’s trading at 33 times earnings, which feels…expensive. Sprink’s sale, on its own, isn’t necessarily a red flag. It’s pre-planned, it’s not a huge amount of stock. But it’s…a little unsettling. Like a polite cough in a crowded room. You try to ignore it, but it lingers in the air. I suspect, in the grand scheme of things, it doesn’t matter. But I’ll be watching. Because sometimes, the smallest details tell the biggest stories. And I have a lot of time on my hands.

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2026-01-28 21:33