** Shares of regional lender Coastal Financial Corp CCB.O up 0.3% at $74.90 premarket after follow-on priced

** Everett, Washington-based parent of Coastal Community Bank late Tues announced 1.2 mln shares at $71 for $85 mln gross proceeds

** Offering price represents 4.9% discount to last sale

** CCB plans to use net offering proceeds for general purposes, including supporting investments and the Bank's growth

** Regional lenders including Dime Community Bancshares DCOM.O, Valley National Bancorp VLY.O and Associated Banc-Corp ASB.N have been on an equity raise spree recently, pouncing on a President-elect Donald Trump-fueled rally in bank stocks

** CCB has 13.5 mln shares outstanding for ~$1 bln market cap, per LSEG

** KBW lead bookrunner for offering, joined by Hovde Group

** Through Tues, CCB shares have risen ~17% since the Nov 5 presidential election, and are up ~50% over the past three months. Stock hit record intraday high of $79.59 on Nov 25

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))