Coast Financial Holdings Opens Oakfield Branch
April 17 2006 - 11:00AM
PR Newswire (US)
BRADENTON, Fla., April 17 /PRNewswire-FirstCall/ -- Coast Financial
Holdings, Inc. (NASDAQ:CFHI), parent company of Coast Bank of
Florida, today announced that it has opened its first branch in
Hillsborough County. The Oakfield branch, located at 510 Oakfield
Drive in Brandon, is the company's first branch in Hillsborough
County, bringing Coast Bank's branch network to 15 locations. The
Oakfield facility has a superb location on Oakfield Drive with
quick access to State Road 60 and many local medical facilities
including the Brandon Regional Hospital. "We are very excited to be
opening our first location in Hillsborough County. This continues
our franchise expansion plan to open branches throughout the Tampa
Bay area," said Brian Peters, president and CEO. "We have already
opened three branch offices this year, and are expecting to open
nine additional branches in the next six months." "We are also
excited to announce that another location in Brandon will be
opening around mid May. This branch is located on Bloomingdale
Avenue and will be a perfect compliment to the Oakfield branch,"
added Peters. "We are always looking for ways to bring convenient
locations and services to our customers. These branches will offer
customers some amazing "Coast Conveniences" like access to over
32,000 ATMs nationwide with no surcharge and deposits posted up
until 6:00 pm every business day. Business customers will be able
to enjoy armored car deposit pick up from their business so they
don't have to take time out of their busy day to run to the bank."
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 15 full-service banking locations in Manatee, Pinellas
and Hillsborough 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, St. Petersburg and Brandon. 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 Brian F. Grimes, EVP and CFO 877-COASTFL 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, +1-877-COASTFL Web site:
http://www.coastfl.com/
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