Veteran Banker Tramm Hudson to Advise Coast Bank
February 05 2007 - 11:23AM
PR Newswire (US)
BRADENTON, Fla., Feb. 5 /PRNewswire-FirstCall/ -- Coast Financial
Holdings, Inc. (NASDAQ:CFHI), parent company of Coast Bank of
Florida said today that it was pleased to announce that it has
hired veteran banker Tramm Hudson as a special advisor to the Board
of Directors of the holding company and to senior management of
Coast Bank. The action, which is effective immediately, follows an
announcement Friday that James K. Toomey, Coast Financial Holding's
chairman had been hospitalized after complaining of chest pains
earlier that day. He was admitted to Manatee Memorial Hospital for
observations and tests on Friday. Also Friday, Coast Financial
Holding's board named Michael T. Ruffino as interim chairman and M.
Alex White as interim vice-chairman. It was announced that Brian
Grimes will continue in his role as president of Coast Bank. Toomey
is expected to remain on a leave of absence until further notice,
Ruffino said. Ruffino, who is a 30-year resident of Manatee County
and head of Manatee Pinellas Title Co. since 1985, said, "We are
all pleased that someone of Tramm Hudson's stature in the financial
service industry has agreed to work with us on challenges facing
the company. As a veteran banker familiar with Florida, Tramm will
be an immediate asset to our company and the management team."
Hudson will advise the board on issues involving bank regulators,
problem loan resolution, assisting the company in developing
strategic alternatives, and media relations. "Tramm has a solid
reputation for integrity and trust in this community; he is well
regarded among bank regulators and has a proven track record of
success with other banking organizations in Florida. His advice and
counsel will be invaluable as we try to successfully resolve these
matters," Ruffino said. Hudson, age 54, brings over 25 years of
active banking experience to Coast Bank. Hudson was a founding
director of Enterprise National Bank of Sarasota and president of
the bank when it was sold to Provident Bank. He was the Florida
Division Executive of Provident Bank until it was sold to RBC
Centura Bank in 2003. He retired from RBC in December 2006 as their
West Florida Regional Director. "I am excited to be working with
Coast Bank during this challenging time," said Hudson. "As the
largest, independent bank in the Tampa Bay area, Coast Bank has a
great franchise with a strong capital base." Hudson's banking
career began with North Carolina National Bank (NCNB), which was
the precursor of NationsBank/Bank of America, in 1981 having just
completed his MBA at Emory University, Atlanta, GA. He worked in
Charlotte, NC as well as Tampa and Clearwater with NCNB before
being named Senior Credit Officer with the Sarasota NCNB
organization in 1986. In 1988, he was a founder and director of
Enterprise National Bank of Sarasota, the first nationally
chartered community bank established in Sarasota in more than 20
years. At the time, Enterprise was the most highly capitalized bank
of its kind ever organized in Southwest Florida. Over a decade,
Hudson served as senior credit officer, executive vice president,
director and president of the institution. In 1997, Enterprise
National Bank was sold to Ohio-based Provident Bank. Hudson was
named Florida division executive for Provident Bank, and under his
leadership, the bank expanded to include 13 branch locations, with
total Florida assets of $850-million. In 2003, Hudson helped
engineer the sale of the Provident Bank's Florida division to
Raleigh, NC-based RBC Centura Bank. Hudson led the transition team
before and through the acquisition. Hudson also is a well-known and
active leader statewide as well as a leader in the local
communities of Sarasota and Manatee counties. He is the past
chairman of Workforce Florida, the statewide board that oversees
labor and job programs statewide. He is also a graduate of
Leadership Florida, a program of the Florida Chamber of Commerce.
Professionally he is a past member of the board of the Florida
Bankers Association and Enterprise Florida, the statewide board
responsible for economic development interest in the state. In
addition he is a past Trustee of Manatee Community College, and the
past chairman of several notable local organizations, including the
Sarasota County Chamber of Commerce, the Committee of 100, and the
Out-of-Door Academy. He is also a past board member of the United
Way of Sarasota County, the Sarasota Family YMCA and he is an Elder
in the First Presbyterian Church of Sarasota. Hudson served three
terms as chairman of the Republican Party in Sarasota County. In
1995, Hudson was appointed to the White House Conference on Small
Business. In 1996, 2000 and 2004, he was a delegate to the
Republican National Convention. Most recently he was a candidate
for Congress in Florida's district 13. Hudson graduated from
Vanderbilt University in 1975 as a distinguished military graduate.
He served as a Cavalry officer in Germany for three years and
continued in the Army Reserves after his active duty. He retired
from the Army Reserve as a Lt. Colonel in 1996. He is married to
Sarah Thompson and they are the parents of two college age
daughters and a son in high school. 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-K for the fiscal
year ended December 31, 2005, the Company's Form 10-Q for the
quarter ended September 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. DATASOURCE: Coast Financial Holdings,
Inc. CONTACT: Bill Carlson for Coast Bank, +1-813-228-0652 Web
site: http://www.coastfl.com/
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