Coastal Financial (NASDAQ:CFCP)
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Coastal Federal Bank Unveils The Carolinas' Most Convenient Bank
MYRTLE BEACH, S.C., Feb. 25 /PRNewswire-FirstCall/ -- Coastal Financial
Corporation (NASDAQ:CFCP) today announced that its banking subsidiary, Coastal
Federal Bank, is introducing six-day branch banking in North and South
Carolina.
The launch of the Coastal Federal Bank - The Carolinas' Most Convenient Bank
initiative is designed to Exceed the Expectations of Customers through the
consistent delivery of The Experience of Fantastic! Customer Service and
extended weekday and Saturday banking hours to further differentiate Coastal
Federal Bank from the competition.
Coastal Federal Bank's newest initiative, scheduled to commence on February 25,
2005, includes:
-- Six-day banking at all of its branches, Monday through Saturday
-- Saturday lobby and drive-through hours
Traditional Branches
Drive-Thru: 8:00 A.M - 1:00 P.M.
Lobby 8:00 A.M - 1:00 P.M.
Bi-Lo Branch
Lobby: 8:00 A.M - 3:00 P.M.
-- Extended lobby and drive-through hours, Monday through Thursday
Traditional Branches
Drive-Thru: 8:00 A.M - 6:00 P.M.
Lobby 8:00 A.M - 5:00 P.M.
Bi-Lo Branch
Lobby: 8:00 A.M - 6:00 P.M.
-- Extended lobby and drive-through hours for Fridays
Traditional Branches
Drive-Thru: 8:00 A.M - 7:00 P.M.
Lobby 8:00 A.M - 7:00 P.M.
Bi-Lo Branches
Lobby: 8:00 A.M - 7:00 P.M.
"The needs and expectations of the business Community and the lifestyles of
Carolinians have changed greatly over the years. Our Customers have told us
they want more convenient hours from their bank, we have listened, and now
we're responding," commented Steve Sherry, Coastal Federal Bank's Executive
Vice President of Marketing. "Six-day branch banking and extended hours give
our Customers the ability to bank when and where it's convenient for them."
Coastal Federal Bank currently offers Customers the ability to access account
information 24 hours a day, 7 days a week via its free Online Banking service
at http://www.coastalfederal.com/ , its cash management services, automated
Telephone Banking System and its extensive ATM network. Customers have the
convenience of visiting any of our 19 traditional bank branches, spanning the
coast of the Carolinas from Pawleys Island, South Carolina to Wilmington, North
Carolina or 23 conveniently located ATM machines. Saturday and extended hours
banking at Coastal Federal Bank's traditional branches will offer the same
products and services available during the rest of the week, including account
openings and consumer loans.
The Carolinas' Most Convenient Bank launch follows Coastal Federal Bank's very
successful Totally Free Checking With A Gift program introduced earlier this
year. Coastal Federal Bank's Totally Free Checking With A Gift program opens a
Customer's account free of charge, gives the Customer a gift, and even buys
back the Customer's remaining checks and debit cards from other banks.
"As we continue to move Coastal Financial Corporation to the next level through
this re-branding of Coastal Federal Bank as a Customer-focused retailer of
financial services, we believe The Carolinas' Most Convenient Bank initiative
clearly demonstrates our unrelenting commitment to embracing change and
constant improvement in Exceeding the Expectations of our Customers," commented
Michael C. Gerald, President and Chief Executive Officer of Coastal Federal
Bank and Coastal Financial Corporation.
Coastal Financial Corporation, headquartered in Myrtle Beach, South Carolina,
offers a broad range of commercial, consumer and mortgage financial services
through two subsidiaries, Coastal Federal Bank and Coastal Retirement, Estate
and Tax Planners, Inc. Coastal Federal Bank, with assets over $1.3 billion, is
a federally chartered and FDIC insured community bank with nineteen offices
serving the communities of Horry and Georgetown Counties, South Carolina and
Brunswick and New Hanover Counties, North Carolina. Coastal Retirement, Estate
and Tax Planners, Inc. offers professional, objective, fee-based financial
planning services. Additional information about Coastal Federal is available on
its web site at http://www.coastalfederal.com/ .
Stock Trading Information
The common stock of Coastal Financial Corporation is traded on the Nasdaq Stock
Market under the symbol "CFCP." For information, contact Raymond James
Financial Services at 1-843-918-7600, Herzog, Heine, Geduld, Inc. at
1-800-523-4936, Knight Securities at 212-336-8690, Spear, Leeds & Kellogg at
1-800-526-3160 or Trident Securities at 1-800-222-2618.
Dividend Reinvestment and Direct Stock Purchase Plan
Coastal Financial Corporation offers Shareholders a Dividend Reinvestment and
Direct Stock Purchase Plan which provides existing and new shareholders a
convenient means for making purchases of Coastal Financial shares free of fees
and brokerage commissions. Additional cash contributions, up to $1,000 per
quarter, can be made to purchase additional shares. For more information,
contact the Transfer Agent at 1-800-866-1340, Ext. 2514, or Investor Relations.
Shareholder Services
Shareholders desiring to enroll in the Coastal Financial Corporation Dividend
Reinvestment Plan, change the name, address, or ownership of their stock
certificates, report lost or stolen certificates, or to consolidate accounts
should contact the Transfer Agent at 1-800-866-1340, Ext. 2514, or Investor
Relations.
Investor Relations
Analysts, investors and others seeking financial information should contact:
Susan J. Cooke - Senior Vice President and Secretary
Coastal Financial Corporation
2619 Oak Street
Myrtle Beach, South Carolina 29577
(843) 205-2676
Forward Looking Statements
This news release may contain certain "forward-looking statements" within the
meaning of Section 27A of the Securities Exchange Act of 1934, as amended, that
represent Coastal Financial Corporation's (the "Company") expectations or
beliefs concerning future events. Such forward-looking statements are about
matters that are inherently subject to risks and uncertainties. Factors that
could influence the matters discussed in certain forward-looking statements
include the timing and amount of revenues that may be recognized by the
Company, continuation of current revenue and expense trends (including trends
affecting charge-offs), absence of unforeseen changes in the Company's markets,
legal and regulatory changes, and general changes in the economy (particularly
in the markets served by the Company). Because of the risks and uncertainties
inherent in forward looking statements, readers are cautioned not to place
undue reliance on them, whether included in this news release or made elsewhere
from time to time by the Company or on its behalf. The Company disclaims any
obligation to update such forward-looking statements. In addition, statements
in this news release regarding historical stock price performance are not
indicative of or guarantees of future price performance.
DATASOURCE: Coastal Financial Corporation
CONTACT: Susan J. Cooke, Senior Vice President and Secretary of Coastal
Financial Corporation, +1-843-205-2676
Web site: http://www.coastalfederal.com/