CFHI Coast Finl Hldgs (MM)

LARGO, Fla., July 31 /PRNewswire-FirstCall/ -- Coast Financial Holdings, Inc. (NASDAQ:CFHI), parent company of Coast Bank of Florida, today announced that it has opened a new branch in Pinellas County. The Walsingham branch, located at 13175 Walsingham Road in Largo, is the company's 7th branch in Pinellas County, making this the 7th branch opened this year and bringing Coast Bank's total branch network to 19 locations. "Our branch expansion strategy is continuing as we open the Walsingham branch in a popular area of Pinellas County," said Brian Grimes, president and CEO. "Largo is Pinellas County's third largest city and hosts a variety of local businesses. We have already opened seven branches this year, and are expecting to open three additional branches in 2006." The Walsingham facility has an excellent location in Largo with quick access to local businesses and shops. "We are also excited to announce that Ben Kleyla will be the Vice President and branch manager of the Walsingham branch," added Grimes. "Mr. Kleyla, who has spent the past three years as a Branch Manager, is a 24-year veteran of the banking industry and will be instrumental in building relationships in this market. Most recently he was a Branch Manager at BB&T's Dunedin office." About the Company Coast Financial Holdings, Inc. through its banking subsidiary, Coast Bank of Florida ( http://www.coastfl.com/ ), operates 19 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 and Largo. 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-KSB for the fiscal year ended December 31, 2005, the Company's form 10-Q for the quarter ended June 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. Contacts: Brian F. Grimes, President and CEO 877-COASTFL THE CEREGHINO GROUP corporate investor relations 1809 7TH Avenue, Suite 1414 Seattle, WA 98101 206.762.0993 http://www.stockvalues.com/ DATASOURCE: Coast Financial Holdings, Inc. CONTACT: Brian F. Grimes, President and CEO, Coast Financial Holdings, +1-877-COASTFL, or ; or investor relations, The Cereghino Gruop, +1-206-762-0993, for Coast Financial Holdings Web site: http://www.coastfl.com/

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