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The Coastal Local Area Bank Limited was established on May 12, 1999, emerging during a period of financial sector reform in India that sought to promote localized banking services. The bank holds the historical distinction of being one of the first Local Area Banks (LABs) licensed by the Reserve Bank of India (RBI), a specific class of institution designed to bridge the gap between rural savings mobilization and deployment of credit for local economic activities. Headquartered in Vijayawada, Andhra Pradesh, the bank's operational mandate is focused on a limited geographical area, primarily serving the five districts of Krishna, Guntur, West Godavari, East Godavari, and Visakhapatnam.

Today, Coastal Local Area Bank Limited is an unlisted public limited company and is officially classified with an "Active" status, maintaining its registration under the Registrar of Companies in Vijayawada. As a surviving example of the original Local Area Bank experiment, its significance lies not in its size on the national stage, but in its role as a regional banking institution focused on financial inclusion and localized economic support in Andhra Pradesh. The LAB structure, which sought to combine the efficiency of commercial banks with the local knowledge of cooperative banks, makes it a key historical and contemporary entity in the regional financial ecosystem of the country.