Coastal Financial (NASDAQ:CFCP)
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Coastal Financial Corporation Myrtle Beach, South Carolina
Announces Quarterly Cash Dividend
MYRTLE BEACH, S.C., March 16 /PRNewswire-FirstCall/ -- Coastal Financial
Corporation (NASDAQ:CFCP) today announced that the Corporation's Board of
Directors declared a four and one-half cent ($0.045) per share dividend on the
Company's common stock. The cash dividend will be payable April 20, 2005 to
Shareholders of record as of April 6, 2005.
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 with over $1.4 billion in consolidated
assets, 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 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, Knights Securities at 1-212-336-8690, Spear, Leeds & Kellogg at
1-800-526-3160 or Trident Securities at 1-800-340-6321.
Dividend Reinvestment Plan
Coastal Financial Corporation offers Shareholders a convenient Dividend
Reinvestment Plan for automatic reinvestment of dividends in the common stock
of the Company. Additional cash contributions, up to $1,000 per quarter, can be
made to purchase additional shares through this Plan. 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 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, Corporate Secretary of Coastal Financial
Corporation, +1-843-205-2676
Web site: http://www.coastalfederal.com/