CFHI Coast Finl Hldgs (MM)

BRADENTON, Fla., Aug. 12 /PRNewswire-FirstCall/ -- Coast Financial Holdings, Inc. (NASDAQ:CFHI) today announced that it has filed a registration statement with the U.S. Securities and Exchange Commission for a follow-on offering of up to $40.25 million of its common stock, including the underwriters' over-allotment option, if any. All shares of the common stock to be sold in the offering will be offered by the Company. Sandler O'Neill & Partners, L.P. is the sole book-runner and lead manager for the offering, and Sterne, Agee & Leach, Inc. is the co-manager. Coast Financial Holdings, Inc., headquartered in Bradenton, Florida, is the bank holding company for Coast Bank of Florida. Coast Bank provides a broad array of consumer and commercial banking services to individuals and to small and mid-size businesses located in and around Manatee, Pinellas, and Sarasota counties, Florida. This offering is made only by means of a prospectus. When available, copies of the preliminary prospectus can be obtained from Sandler O'Neill & Partners, L.P., 919 Third Avenue, 6th Floor, New York, New York 10022. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, 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. Contact: Brian P. Peters, President and Chief Executive Officer, Coast Financial Holdings, Inc., 1-877-COASTFL. DATASOURCE: Coast Financial Holdings, Inc. CONTACT: Brian P. Peters, President and CEO of Coast Financial Holdings, Inc., +1-877-COASTFL, or Web site: http://www.coastbankflorida.com/

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