Coast Financial Announces Underwriters Exercise Their Over-Allotment Option to Purchase an Additional 245,950 Shares of Common S
November 04 2005 - 4:30PM
PR Newswire (US)
BRADENTON, Fla., Nov. 4 /PRNewswire-FirstCall/ -- Coast Financial
Holdings, Inc. (NASDAQ:CFHI) (the "Company") today announced that
Sandler O'Neill & Partners, L.P., as representative of the
underwriters for the Company's recent public offering, has
exercised the over-allotment option to purchase an additional
245,950 shares of the Company's Common Stock at $15.50 per share.
The issuance of the additional 245,950 shares is expected to be
completed on November 9, 2005. Sandler O'Neill & Partners,
L.P., was the sole book- running manager of the offering. Sterne,
Agee & Leach, Inc. was the co- manager of the offering. A
registration statement relating to these securities has been filed
with and declared effective by the United States Securities and
Exchange Commission. The offering was made only by means of a
written prospectus forming a part of the effective registration
statement relating to the offering. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or jurisdiction. Printed copies
of the prospectus relating to the offering may be obtained from
Sandler O'Neill & Partners, L.P., 919 Third Avenue - 6th Floor,
New York, NY 10022, Attention: Syndicate Department. A prospectus
relating to the offering will be filed with the SEC, and will be
available on the SEC's website at http://www.sec.gov/ . About Coast
Financial Holdings, Inc. Coast Financial Holdings, Inc., through
its banking subsidiary, Coast Bank of Florida (
http://www.coastbankflorida.com/ ), operates 12 full-service
banking locations in Manatee and Pinellas County, Florida. Coast
Bank of Florida is a commercial bank that provides full-service
banking operations to its customers. This press release and other
statements to be made by the Company contain certain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act, including but not limited to
statements relating to projections and estimates of earnings,
revenues, cost-savings, expenses, or other financial items;
statements of management's plans, strategies, and objectives for
future operations, and management's expectations as to future
performance and operations and the time by which objectives will be
achieved; statements concerning proposed new products and services;
and statements regarding future economic, industry, or market
conditions or performance. Forward-looking statements are typically
identified by words or phrases such as "believe," expect,"
anticipate," project," and conditional verbs such as "may,"
"could," and "would," and other similar expressions or verbs. Such
forward-looking statements reflect management's current
expectations, beliefs, estimates, and projections regarding the
Company, its industry and future events, and are based upon certain
assumptions made by management. These forward-looking statements
are not guarantees of future performance and necessarily are
subject to risks, uncertainties, and other factors (many of which
are outside the control of the Company) that could cause actual
results to differ materially from those anticipated. These risks,
uncertainties, and other factors include, among others: changes in
general economic or business conditions, either nationally or in
the State of Florida, changes in the interest rate environment, the
Company's ability to successfully open and operate new branches and
collect on delinquent loans, changes in the regulatory environment,
and other risks described in the Company's Registration Statement
and as described from time to time by the Company in other reports
filed by it with the Securities and Exchange Commission. Any
forward-looking statement speaks only to the date on which the
statement is made, and the Company disclaims any obligation to
update any forward-looking statement, whether as a result of new
information, future events or otherwise. If the Company does update
any forward-looking statements, no inference should be drawn that
the Company will make additional updates with respect to that
statement or any other forward-looking statements. Contacts: Brian
P. Peters, President and CEO 877-COASTFL Brian F. Grimes, EVP and
CFO 877-COASTFL Investor Relations Contact: Gabriel Villada
877-COASTFL DATASOURCE: Coast Financial Holdings, Inc. CONTACT:
Investor Relations, Gabriel Villada, , or Brian P. Peters,
President and CEO, , or Brian F. Grimes, EVP and CFO, or , all of
Coast Financial Holdings, Inc., +1-877-COASTFL Web site:
http://www.coastbankflorida.com/
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