EXHIBIT 23

                         CONSENT OF INDEPENDENT AUDITORS








The Board of Directors
Coastal Financial Corporation:

We consent to  incorporation  by reference in the  registration  statements (No.
333-49741, 333-01274 and 333-54794) on Form S-8 of Coastal Financial Corporation
of our report dated October 28, 2002, relating to the consolidated statements of
financial  condition of Coastal  Financial  Corporation  and  subsidiaries as of
September  30,  2002  and  2001,  and the  related  consolidated  statements  of
operations,  stockholders'  equity and comprehensive  income, and cash flows for
each of the years in the  three-year  period ended  September  30,  2002,  which
report is  incorporated  by reference in the September 30, 2002 Annual Report on
Form 10-K of Coastal Financial Corporation.


          Greenville, South Carolina

                                                      /s/KPMG LLP
                                                      --------------------------
                                                      KPMG LLP

December 24, 2002