CFHI Coast Finl Hldgs (MM)

Coast Financial Holdings Prices Public Offering BRADENTON, Fla., Nov. 6 /PRNewswire-FirstCall/ -- Coast Financial Holdings, Inc. announced on November 5, 2003, that it priced a public offering of 1,600,000 shares of its common stock at $12.00 per share. The offer was underwritten by Sterne, Agee & Leach, Inc. and is expected to close on or about November 10, 2003. In connection with the offering, Coast granted Sterne Agee a 30-day over-allotment option to purchase up to an additional 240,000 shares at the offering price less the underwriting discount. Coast expects to receive net proceeds of approximately $17,600,000 for its sale of shares ($20,240,000 if the over-allotment is exercised). Proceeds of the offering will principally be used to support continued growth, including the opening of additional branches to better serve the needs of Coast's customers. Coast also announced that, effective November 6, 2003, its common stock had become listed on the Nasdaq SmallCap Market and will trade under the symbol "CFHI". Gerry Anthony, President & CEO of Coast Financial Holdings, Inc. stated: "We are extremely excited about having completed this offering and we look forward to using the additional capital to meet the needs of our growing customer base." Coast Financial Holdings, Inc. is the holding company for Coast Bank of Florida, a commercial bank operating 4 full-service offices in Bradenton, Manatee County, Florida. The Bank currently has plans for an additional three branches to serve the Bradenton and Manatee County markets. As of September 30, 2003, Coast had, on a consolidated basis, total assets of approximately $225 million, total net loans of approximately $165 million, total net mortgage loans held for sale of approximately $12 million, and total deposits of approximately $184 million. The Bank also provides investment advisory and asset management services through its wholly-owned subsidiary, Coast Financial Partners. This press release is not an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer, solicitation or sale will be made only by means of the final prospectus. DATASOURCE: Coast Financial Holdings, Inc. CONTACT: Contact: Brian Peters of Coast Financial Holdings, Inc., +1-941-345-1419 Web site: http://www.sterneagee.com/

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