CFHI Coast Finl Hldgs (MM)

BRADENTON, Fla., Nov. 4 /PRNewswire-FirstCall/ -- Coast Financial Holdings, Inc. (NASDAQ:CFHI) (the "Company") today announced that Sandler O'Neill & Partners, L.P., as representative of the underwriters for the Company's recent public offering, has exercised the over-allotment option to purchase an additional 245,950 shares of the Company's Common Stock at $15.50 per share. The issuance of the additional 245,950 shares is expected to be completed on November 9, 2005. Sandler O'Neill & Partners, L.P., was the sole book- running manager of the offering. Sterne, Agee & Leach, Inc. was the co- manager of the offering. A registration statement relating to these securities has been filed with and declared effective by the United States Securities and Exchange Commission. The offering was made only by means of a written prospectus forming a part of the effective registration statement relating to the offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. Printed copies of the prospectus relating to the offering may be obtained from Sandler O'Neill & Partners, L.P., 919 Third Avenue - 6th Floor, New York, NY 10022, Attention: Syndicate Department. A prospectus relating to the offering will be filed with the SEC, and will be available on the SEC's website at http://www.sec.gov/ . About Coast Financial Holdings, Inc. Coast Financial Holdings, Inc., through its banking subsidiary, Coast Bank of Florida ( http://www.coastbankflorida.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. 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 Registration Statement 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 P. Peters, President and CEO 877-COASTFL Brian F. Grimes, EVP and CFO 877-COASTFL Investor Relations Contact: Gabriel Villada 877-COASTFL DATASOURCE: Coast Financial Holdings, Inc. CONTACT: Investor Relations, Gabriel Villada, , or Brian P. Peters, President and CEO, , or Brian F. Grimes, EVP and CFO, or , all of Coast Financial Holdings, Inc., +1-877-COASTFL Web site: http://www.coastbankflorida.com/

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