Coast Financial Holdings Inc.
Coast Financial Holdings Inc. is listed on NASDAQ (CFHI). Coast Financial Holdings, Inc. (us, our, we, the Company or Coast Financial) headquartered in Bradenton, Florida, is a bank holding company registered under the Bank Holding Company Act of 1956 primarily to own all of the capital stock of Coast Bank of Florida (Coast Bank). The Company was incorporated on November 1, 2002 under the laws of the state of Florida and became the holding company for Coast Bank on April 15, 2003. As a result, our primary asset is Coast Bank, and we do not presently engage in any activities other than activities related to our ownership of Coast Bank. Unless the context otherwise requires, reference to Coast Financial or the Company herein includes Coast Financial and its wholly-owned subsidiary, Coast Bank, on a consolidated basis. As of December 31, 2004, we had total assets of approximately $384.6 million, net loans of approximately $297.7 million, deposits of approximately $326.3 million, repurchase agreements of approximately $15.
Coastal Financial Corporation
Coastal Financial Corporation is listed on NASDAQ (CFCP). Coastal Financial Corporation (Coastal Financial) was incorporated in the State of Delaware in June 1990, for the purpose of becoming a savings and loan holding company for Coastal Federal Bank, formerly named Coastal Federal Savings Bank, (Coastal Federal or the Bank). On January 28, 1991, the stockholders of the Bank approved a plan to reorganize the Bank into the holding company form of ownership. The reorganization was completed on November 6, 1991, on which date the Bank became the wholly owned subsidiary of the Company, and the stockholders of the Bank became stockholders of the Company. Prior to completion of the reorganization, the Company had no material assets or liabilities and engaged in no business activities. The financial results contained herein relate primarily to the Companys principal subsidiary, Coastal Federal.
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