Coastal Financial Corporation Announces U.S. Banker Magazine Ranking
11 Agosto 2004 - 10:38AM
PR Newswire (US)
Coastal Financial Corporation Announces U.S. Banker Magazine
Ranking MYRTLE BEACH, S.C., Aug. 11 /PRNewswire-FirstCall/ --
Coastal Financial Corporation (NASDAQ:CFCP) today announced that,
for the 5th consecutive year, U.S. Banker Magazine, in its August
2004 edition, has ranked it the #1 Community Bank in the Carolinas.
In this edition, U.S. Banker Magazine featured its Ranking of the
Top 100 Publicly Traded Mid-Tier Banks. This ranking features Banks
with assets between $1 and $5.5 billion, ranked by 3-year average
Return On Average Equity. Coastal Financial Corporation was ranked
30th nationally in this listing. Michael C. Gerald, President and
Chief Executive Officer of Coastal Financial Corporation, said:
"Over the fourteen years since becoming a publicly owned Company,
all of us at Coastal Financial Corporation have worked diligently
toward achieving our Basic Corporate Objective of Maximizing The
Value Of Our Shareholders' Investment by focusing on our Long-Term
Goal of Being The Best Financial Services Company In Our
Marketplace. To receive continuing evidence of progress in those
quests is very gratifying. In the U.S. Banker Magazine rankings of
the top 100 Publicly Traded Community Banks with assets less than
$1 billion, Coastal Financial Corporation was ranked 1st in the
Carolinas and 16th in the nation in 2000, 1st in the Carolinas and
5th in the nation in 2001 and 1st in the Carolinas and 3rd in the
nation in 2002. And in its August 2003 ranking of the top Publicly
Traded Mid-Tier Banks, with assets between $1 and $15 billion,
Coastal Financial was ranked 1st in the Carolinas and 39th in the
nation. It is particularly gratifying to have been ranked 1st in
the Carolinas and 30th in the nation this year in the company of
this new group of exceptionally high performing Mid-Tier banks."
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 eighteen 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, 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 and at a discount to market price. 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. 2511, 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.
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/
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