Coast Financial Holdings Opens Bloomingdale Branch
May 17 2006 - 5:44PM
PR Newswire (US)
BRANDON, Fla., May 17 /PRNewswire-FirstCall/ -- Coast Financial
Holdings, Inc. (NASDAQ:CFHI), parent company of Coast Bank of
Florida, today announced that it has opened its second branch in
Hillsborough County. The Bloomingdale branch, located at 110 West
Bloomingdale Avenue in Brandon, is the company's second branch
within a one-month period in Hillsborough County, bringing Coast
Bank's total branch network to 16 locations, an increase of 4 since
December 2005. The Bloomingdale facility has an excellent location
on the corner of Bloomingdale Avenue and John Moore Road. "We are
very excited to be opening our second location in Hillsborough
County in such a short time. Brandon is a great fit for Coast Bank.
It is full of great people and businesses and is growing at a rapid
pace. This continues our franchise expansion plan to open branches
throughout the Tampa Bay area," said Brian Peters, president and
CEO. "We are also excited to announce that Barbara Gomez is our
Vice President and branch manager of the Bloomingdale Branch,"
added Peters. "Ms. Gomez is a 25-year veteran of the banking
industry and most recently held the position of branch manager at
Regions Bank. 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 6:00pm 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,"
concluded Peters. About the Company As of March 31, 2006, Coast
Financial Holdings, Inc. had $581 million in total assets and
through its banking subsidiary, Coast Bank of Florida (
http://www.coastfl.com/ ), operates 16 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 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, Inc.,
+1-877-COASTFL (+1-877-262-7835); or investors, The Cereghino
Group, +1-206-762-0993, for Coast Financial Holdings Web site:
http://www.coastfl.com/
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