Coastal Financial is making two executive-related changes as part of a broader effort to improve profitability and reduce operating costs. Brian Hamilton is leaving his full-time role leading CCBX, the bank’s fintech and banking-as-a-service division, and will move to a limited consulting role. Chief Executive Eric Sprink is also taking a substantial cut to his annual base salary.
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Hamilton will step down as CCBX president and leave his other company and bank roles. The change follows progress on the technology and infrastructure projects he was brought in to lead; Coastal says those efforts no longer require his day-to-day oversight. He will remain on Coastal Financial’s board.
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Hamilton’s consulting role runs through May 1, 2027. He will provide strategic advice and business-development services to the CEO as needed. Coastal will pay him $35,000 a month, with total fees capped at $245,000.
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Sprink’s annual base salary is falling from $874,000 to $500,000, effective October 28. The company said Sprink volunteered for the reduction and that the board approved it. The change concerns his base salary; no other compensation terms were specified.
The changes reduce the cost of Hamilton’s full-time leadership role while retaining him for limited advice, and lower Sprink’s annual base-pay commitment by $374,000. Coastal described both moves as part of its broader cost-reduction and operational-efficiency efforts.