CFCP Coastal Finl Corp Del (MM)

Coastal Federal Bank Unveils The Carolinas' Most Convenient Bank MYRTLE BEACH, S.C., Feb. 25 /PRNewswire-FirstCall/ -- Coastal Financial Corporation (NASDAQ:CFCP) today announced that its banking subsidiary, Coastal Federal Bank, is introducing six-day branch banking in North and South Carolina. The launch of the Coastal Federal Bank - The Carolinas' Most Convenient Bank initiative is designed to Exceed the Expectations of Customers through the consistent delivery of The Experience of Fantastic! Customer Service and extended weekday and Saturday banking hours to further differentiate Coastal Federal Bank from the competition. Coastal Federal Bank's newest initiative, scheduled to commence on February 25, 2005, includes: -- Six-day banking at all of its branches, Monday through Saturday -- Saturday lobby and drive-through hours Traditional Branches Drive-Thru: 8:00 A.M - 1:00 P.M. Lobby 8:00 A.M - 1:00 P.M. Bi-Lo Branch Lobby: 8:00 A.M - 3:00 P.M. -- Extended lobby and drive-through hours, Monday through Thursday Traditional Branches Drive-Thru: 8:00 A.M - 6:00 P.M. Lobby 8:00 A.M - 5:00 P.M. Bi-Lo Branch Lobby: 8:00 A.M - 6:00 P.M. -- Extended lobby and drive-through hours for Fridays Traditional Branches Drive-Thru: 8:00 A.M - 7:00 P.M. Lobby 8:00 A.M - 7:00 P.M. Bi-Lo Branches Lobby: 8:00 A.M - 7:00 P.M. "The needs and expectations of the business Community and the lifestyles of Carolinians have changed greatly over the years. Our Customers have told us they want more convenient hours from their bank, we have listened, and now we're responding," commented Steve Sherry, Coastal Federal Bank's Executive Vice President of Marketing. "Six-day branch banking and extended hours give our Customers the ability to bank when and where it's convenient for them." Coastal Federal Bank currently offers Customers the ability to access account information 24 hours a day, 7 days a week via its free Online Banking service at http://www.coastalfederal.com/ , its cash management services, automated Telephone Banking System and its extensive ATM network. Customers have the convenience of visiting any of our 19 traditional bank branches, spanning the coast of the Carolinas from Pawleys Island, South Carolina to Wilmington, North Carolina or 23 conveniently located ATM machines. Saturday and extended hours banking at Coastal Federal Bank's traditional branches will offer the same products and services available during the rest of the week, including account openings and consumer loans. The Carolinas' Most Convenient Bank launch follows Coastal Federal Bank's very successful Totally Free Checking With A Gift program introduced earlier this year. Coastal Federal Bank's Totally Free Checking With A Gift program opens a Customer's account free of charge, gives the Customer a gift, and even buys back the Customer's remaining checks and debit cards from other banks. "As we continue to move Coastal Financial Corporation to the next level through this re-branding of Coastal Federal Bank as a Customer-focused retailer of financial services, we believe The Carolinas' Most Convenient Bank initiative clearly demonstrates our unrelenting commitment to embracing change and constant improvement in Exceeding the Expectations of our Customers," commented Michael C. Gerald, President and Chief Executive Officer of Coastal Federal Bank and Coastal Financial Corporation. Coastal Financial Corporation, headquartered in Myrtle Beach, South Carolina, offers a broad range of commercial, consumer and mortgage financial services through two subsidiaries, Coastal Federal Bank and Coastal Retirement, Estate and Tax Planners, Inc. Coastal Federal Bank, with assets over $1.3 billion, is a federally chartered and FDIC insured community bank with nineteen offices serving the communities of Horry and Georgetown Counties, South Carolina and Brunswick and New Hanover Counties, North Carolina. Coastal Retirement, Estate and Tax Planners, Inc. offers professional, objective, fee-based financial planning services. Additional information about Coastal Federal is available on its web site at http://www.coastalfederal.com/ . Stock Trading Information The common stock of Coastal Financial Corporation is traded on the Nasdaq Stock Market under the symbol "CFCP." For information, contact Raymond James Financial Services at 1-843-918-7600, Herzog, Heine, Geduld, Inc. at 1-800-523-4936, Knight Securities at 212-336-8690, Spear, Leeds & Kellogg at 1-800-526-3160 or Trident Securities at 1-800-222-2618. Dividend Reinvestment and Direct Stock Purchase Plan Coastal Financial Corporation offers Shareholders a Dividend Reinvestment and Direct Stock Purchase Plan which provides existing and new shareholders a convenient means for making purchases of Coastal Financial shares free of fees and brokerage commissions. Additional cash contributions, up to $1,000 per quarter, can be made to purchase additional shares. For more information, contact the Transfer Agent at 1-800-866-1340, Ext. 2514, or Investor Relations. Shareholder Services Shareholders desiring to enroll in the Coastal Financial Corporation Dividend Reinvestment Plan, change the name, address, or ownership of their stock certificates, report lost or stolen certificates, or to consolidate accounts should contact the Transfer Agent at 1-800-866-1340, Ext. 2514, or Investor Relations. Investor Relations Analysts, investors and others seeking financial information should contact: Susan J. Cooke - Senior Vice President and Secretary Coastal Financial Corporation 2619 Oak Street Myrtle Beach, South Carolina 29577 (843) 205-2676 Forward Looking Statements This news release may contain certain "forward-looking statements" within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended, that represent Coastal Financial Corporation's (the "Company") expectations or beliefs concerning future events. Such forward-looking statements are about matters that are inherently subject to risks and uncertainties. Factors that could influence the matters discussed in certain forward-looking statements include the timing and amount of revenues that may be recognized by the Company, continuation of current revenue and expense trends (including trends affecting charge-offs), absence of unforeseen changes in the Company's markets, legal and regulatory changes, and general changes in the economy (particularly in the markets served by the Company). Because of the risks and uncertainties inherent in forward looking statements, readers are cautioned not to place undue reliance on them, whether included in this news release or made elsewhere from time to time by the Company or on its behalf. The Company disclaims any obligation to update such forward-looking statements. In addition, statements in this news release regarding historical stock price performance are not indicative of or guarantees of future price performance. DATASOURCE: Coastal Financial Corporation CONTACT: Susan J. Cooke, Senior Vice President and Secretary of Coastal Financial Corporation, +1-843-205-2676 Web site: http://www.coastalfederal.com/

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