CFHI Coast Finl Hldgs (MM)

BRANDON, Fla., May 17 /PRNewswire-FirstCall/ -- Coast Financial Holdings, Inc. (NASDAQ:CFHI), parent company of Coast Bank of Florida, today announced that it has opened its second branch in Hillsborough County. The Bloomingdale branch, located at 110 West Bloomingdale Avenue in Brandon, is the company's second branch within a one-month period in Hillsborough County, bringing Coast Bank's total branch network to 16 locations, an increase of 4 since December 2005. The Bloomingdale facility has an excellent location on the corner of Bloomingdale Avenue and John Moore Road. "We are very excited to be opening our second location in Hillsborough County in such a short time. Brandon is a great fit for Coast Bank. It is full of great people and businesses and is growing at a rapid pace. This continues our franchise expansion plan to open branches throughout the Tampa Bay area," said Brian Peters, president and CEO. "We are also excited to announce that Barbara Gomez is our Vice President and branch manager of the Bloomingdale Branch," added Peters. "Ms. Gomez is a 25-year veteran of the banking industry and most recently held the position of branch manager at Regions Bank. We are always looking for ways to bring convenient locations and services to our customers. These branches will offer customers some amazing 'Coast Conveniences' like access to over 32,000 ATMs nationwide with no surcharge and deposits posted up until 6:00pm every business day. Business customers will be able to enjoy armored car deposit pick-up from their business so they don't have to take time out of their busy day to run to the bank," concluded Peters. About the Company As of March 31, 2006, Coast Financial Holdings, Inc. had $581 million in total assets and through its banking subsidiary, Coast Bank of Florida ( http://www.coastfl.com/ ), operates 16 full-service banking locations in Manatee, Pinellas and Hillsborough 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, St. Petersburg and Brandon. 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 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 The Cereghino Group corporate investor relations 5333 15TH Avenue South, Suite 1500 Seattle, WA 98108 206.762.0993 http://www.stockvalues.com/ DATASOURCE: Coast Financial Holdings, Inc. CONTACT: Brian P. Peters, President and CEO, , or Brian F. Grimes, EVP and CFO, , both of Coast Financial Holdings, Inc., +1-877-COASTFL (+1-877-262-7835); or investors, The Cereghino Group, +1-206-762-0993, for Coast Financial Holdings Web site: http://www.coastfl.com/

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