Coast Financial Holdings Opens Pinellas Park Branch
October 16 2006 - 4:36PM
PR Newswire (US)
PINELLAS PARK, Fla., Oct. 16 /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 Pinellas Park branch, located at 7600 US Hwy
19 North, in Pinellas Park, is the company's 8th branch in Pinellas
County, making this the 8th branch opened this year in the greater
Tampa Bay area and bringing Coast Bank's total branch network to 20
locations. "We continue to be excited about the opportunities for
growth in our market and are expanding our franchise to build the
premiere community bank in the Greater Tampa Bay area," said Brian
Grimes, president and CEO. "Pinellas Park is the fourth largest
city in Pinellas County and is home to a variety of local
businesses." The Pinellas Park facility has an excellent location
off US Hwy. 19 with quick access to local businesses and shops. "We
are also pleased to announce that Roderick Smith is the branch
manager of the Pinellas Park branch," said Grimes. "Rod, who has
most recently been branch manager of our Kenneth City branch, is a
28-year veteran of the banking industry and will be instrumental in
building new relationships in this market." Rod has been a branch
manager a total of 18 years and has lived in Pinellas County for
three years. He is actively involved in the Pinellas Park Chamber
and attends and works at the many community events where Coast Bank
is involved. About the Company Coast Financial Holdings, Inc.
through its banking subsidiary, Coast Bank of Florida
(http://www.coastfl.com/), operates 20 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, Lutz, Largo and Pinellas Park. 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, the Company's form 10-Q for
the quarter ended June 30, 2006, 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.
Brian F. Grimes, President and CEO 877-COASTFL DATASOURCE: Coast
Financial Holdings, Inc. CONTACT: Brian F. Grimes, President and
CEO of Coast Financial Holdings, Inc., +1-877-COASTFL, or Web site:
http://www.coastfl.com/
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