Coast Financial Holdings Hires Chief Credit Officer; Plans to Expand Commercial Presence
December 19 2005 - 4:00PM
PR Newswire (US)
BRADENTON, Fla., Dec. 19 /PRNewswire-FirstCall/ -- Coast Financial
Holdings, Inc. (NASDAQ:CFHI), parent company of Coast Bank of
Florida, today announced that it has hired Paul Nidasio as its
SVP/Chief Credit Officer. Nidasio, formerly with Naples-based First
National Bank (acquired by Fifth/Third earlier this year), has in
excess of 25 years of experience in credit, loan administration and
loan workout. "We are very pleased to add Paul to our team. Paul
brings a level of knowledge and experience that will provide the
necessary oversight of the credit function and allow us to move
forward with our plans to expand our presence in commercial
lending," said Brian Peters, president and CEO. Nidasio will start
with the bank on January 9, 2006 and report directly to Peters. In
addition to filling the position of Chief Credit Officer, Coast has
also hired Jordan German to serve as EVP and Commercial Lending
Manager, replacing Tyrone Shinn in that capacity. German will also
report directly to Peters. "Jordan was a key hire in our plans to
expand the commercial department. He has over 25 years of
experience and is a well-known and respected manager. We plan to
hire commercial lending teams to serve each of our market areas,
including teams for Hillsborough/Polk, Pinellas, and Sarasota
counties. We have hired an experienced group leader and a lender
for Pinellas and are actively seeking individuals for the
Hillsborough/Polk and Sarasota markets with the Manatee team
already in place," commented Peters. "With our retail branch
network expected to double in size in 2006 from 12 to 24 locations,
and our expansion into four new counties, it is essential that we
attract and retain key banking talent in all of the markets we
serve. It is equally important that we provide the necessary
support and controls to ensure a high-quality loan portfolio. We
believe that these recent changes will allow us to continue with
our aggressive growth plans and provide solid improvements in
shareholder value in the long term," concluded Peters. About the
Company As of September 30, 2005, Coast Financial Holdings, Inc.
had $483 million in total assets and through its banking
subsidiary, Coast Bank of Florida ( http://www.coastfl.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 from its
headquarters location and from branch offices in Bradenton,
Palmetto, Longboat Key, Seminole, Kenneth City and St. Petersburg.
Contacts: Brian P. Peters, President and CEO 877-COASTFL Brian F.
Grimes, EVP and CFO 877-COASTFL DATASOURCE: Coast Financial
Holdings, Inc. CONTACT: Brian P. Peters, President and CEO, , or
Brian F. Grimes, EVP and CFO, , both of Coast Financial Holdings,
Inc., +1-877-COASTFL Web site: http://www.coastbankflorida.com/
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