Coast Financial Holdings Hires Chief Credit Officer; Plans to Expand Commercial Presence

BRADENTON, Fla., Dec. 19  /PRNewswire-FirstCall/ -- Coast Financial Holdings, Inc. (NASDAQ:CFHI), parent company of Coast Bank of Florida, today announced that it has hired Paul Nidasio as its SVP/Chief Credit Officer. Nidasio, formerly with Naples-based First National Bank (acquired by Fifth/Third earlier this year), has in excess of 25 years of experience in credit, loan administration and loan workout.

"We are very pleased to add Paul to our team. Paul brings a level of knowledge and experience that will provide the necessary oversight of the credit function and allow us to move forward with our plans to expand our presence in commercial lending," said Brian Peters, president and CEO. Nidasio will start with the bank on January 9, 2006 and report directly to Peters.

In addition to filling the position of Chief Credit Officer, Coast has also hired Jordan German to serve as EVP and Commercial Lending Manager, replacing Tyrone Shinn in that capacity.  German will also report directly to Peters. "Jordan was a key hire in our plans to expand the commercial department. He has over 25 years of experience and is a well-known and respected manager.  We plan to hire commercial lending teams to serve each of our market areas, including teams for Hillsborough/Polk, Pinellas, and Sarasota counties.  We have hired an experienced group leader and a lender for Pinellas and are actively seeking individuals for the Hillsborough/Polk and Sarasota markets with the Manatee team already in place," commented Peters.

"With our retail branch network expected to double in size in 2006 from 12 to 24 locations, and our expansion into four new counties, it is essential that we attract and retain key banking talent in all of the markets we serve. It is equally important that we provide the necessary support and controls to ensure a high-quality loan portfolio. We believe that these recent changes will allow us to continue with our aggressive growth plans and provide solid improvements in shareholder value in the long term," concluded Peters.

About the Company

As of September 30, 2005, Coast Financial Holdings, Inc. had $483 million in total assets and through its banking subsidiary, Coast Bank of Florida ( http://www.coastfl.com/ ), operates 12 full-service banking locations in Manatee and Pinellas County, 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, Kenneth City and St. Petersburg.

   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.coastbankflorida.com/ 

Copyright