Coast Financial Holdings Opens Northwood Branch
March 15 2006 - 1:57PM
PR Newswire (US)
BRADENTON, Fla., March 15 /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 Northwood branch, located at 3024 Enterprise
Road East in Clearwater, is the company's sixth branch in Pinellas
County, bringing Coast Bank's branch network to 14 locations. "Our
branch expansion strategy is continuing as we open the Northwood
branch in a popular area of Pinellas County," said Brian Peters,
president and CEO. "Clearwater is Pinellas County's second largest
city and hosts a variety of accommodations and activities including
Fort De Soto Park, which was ranked America's #1 Beach in 2005 by
Dr. Beach. We are enthusiastic about our ability to serve new and
existing customers in the community." The Northwood facility has a
superb location on Enterprise Road with quick access to local
businesses and Countryside Mall. "We are also pleased to announce
that Ann Marie DiToro has joined Coast Bank and has been named
branch manager of the Northwood branch," added Peters. "With over
25 years of local banking experience, Ms. DiToro has the talent,
skill and motivation to help fuel our growth in the coming years."
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 14 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, Clearwater,
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
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.coastfl.com/
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