Coast Financial Holdings to Open Dunedin Branch
February 28 2006 - 11:44AM
PR Newswire (US)
BRADENTON, Fla., Feb. 28 /PRNewswire-FirstCall/ -- Coast Financial
Holdings, Inc. (NASDAQ:CFHI), parent company of Coast Bank of
Florida, today announced that it has opened a new branch in
Pinellas County. The Dunedin branch, located at 2046 Bayshore
Boulevard in Dunedin, is the company's fifth branch in Pinellas
County, bringing Coast Bank's branch network to 13 locations. "We
are progressing with our expansion strategy by opening another
branch in a high-growth part of Pinellas County," said Brian
Peters, president and CEO. "We are enthusiastic about the
visibility of this branch location and our ability to serve
customers in the community." The Dunedin facility has a superb
location with quick access to local businesses and restaurants. "We
are also pleased to announce that Sharon Dropp has joined Coast
Bank and has been named branch manager of the Dunedin branch," said
Peters. "She brings seven years of branch manager experience and a
team of local bankers that are anxious to serve this new market for
us." About the Company As of December 31, 2005, Coast Financial
Holdings, Inc. had $550 million in total assets and through its
banking subsidiary, Coast Bank of Florida ( http://www.coastfl.com/
), operates 13 full-service banking locations in Manatee and
Pinellas counties, 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, Dunedin, Kenneth City
and St. Petersburg. 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
Form 10-KSB for the fiscal year ended December 31, 2005 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 THE CEREGHINO GROUP CORPORATE INVESTOR RELATIONS
5333 15TH Avenue South, Suite 1500 Seattle, WA 98108 206.762.0993
http://www.stockvalues.com/ DATASOURCE: Coast Financial Holdings,
Inc. CONTACT: Brian P. Peters, President and CEO, , or Brian F.
Grimes, EVP and CFO, , both of Coast Financial Holdings,
+1-877-COASTFL (268-7835); or investor relations, THE CEREGHINO
GROUP, +1-206-762-0993, for Coast Financial Holdings Web site:
http://www.coastfl.com/
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