Coast Financial Holdings Opens Lutz Branch
June 06 2006 - 7:30AM
PR Newswire (US)
LUTZ, Fla., June 6 /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 Pasco
County. The Lutz branch, located at 21708 State Rd. 54 in Lutz, is
the company's 1st branch in Pasco County, making this the 6th
branch opened this year and bringing Coast Bank's total branch
network to 18 locations. The Lutz facility has a superb location on
State Rd. 54 with quick access to the Suncoast Parkway and I-75.
"We are very excited about this location because this branch marks
our entrance into another new County. We are continuing our
franchise expansion as we open the Lutz branch in popular areas of
Land O Lakes and Lutz," said Brian Peters, president and CEO.
"Pasco County is full of opportunities and is growing rapidly. We
have already opened six branches this year, and are expecting to
open six additional branches throughout the remainder of the year."
"We are also excited to announce that Sandra Golberg will be the
Vice President and branch manager of the Lutz branch," added
Peters. "Ms. Golberg, who has spent the past 6 years as a Branch
Manager, is a 17-year veteran of the banking industry and will be
instrumental in building relationships in this market. Most
recently she was a Branch Manager at R.G. Crown Bank. We are always
looking for ways to bring experienced talent, 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." 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 18
full-service banking locations in Manatee, Pinellas, Hillsborough
and Pasco 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, Brandon, St. Petersburg and Lutz. 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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