Coastal Financial Corporation Myrtle Beach, South Carolina Announces Quarterly Cash Dividend
17 3월 2006 - 1:07AM
Business Wire
Coastal Financial Corporation (NASDAQ:CFCP) today announced that
the Corporation's Board of Directors declared a five cents ($0.05)
per share dividend on the Company's common stock. The cash dividend
will be payable April 14, 2006 to Shareholders of record as of
March 31, 2006. 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 with $1.58 billion in consolidated
assets, is a federally chartered and FDIC insured Community bank
with twenty-one 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 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. 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. -0- *T 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 *T Forward Looking Statements This report may
contain certain "forward-looking statements" within the meaning of
Section 27A of the Securities Exchange Act of 1934, as amended,
that represent the Company's expectations or beliefs concerning
future events. All forward-looking statements are based on
assumptions and involve risks and uncertainties, many of which are
beyond the Company's control and which may cause its actual
results, performance or achievements to differ materially from the
results, performance or achievements contemplated by the
forward-looking statements. Forward-looking statements can be
identified by the fact that they do not relate strictly to
historical or current facts. They often include words such as
"believe," "expect," "anticipate," "intend," "plan," "estimate" or
words of similar meaning, or future or conditional verbs such as
"will," "would," "should," "could" or "may." Forward-looking
statements speak only as of the date they are made. Such risks and
uncertainties include, among other things: -- Competitive pressures
among depository and other financial institutions in the Company's
market areas may increase significantly. -- Adverse changes in the
economy or business conditions, either nationally or in the
Company's market areas, could increase credit-related losses and
expenses and/or limit growth. -- Increases in defaults by borrowers
and other delinquencies could result in increases in the Company's
provision for losses on loans and related expenses. -- The
Company's inability to manage growth effectively, including the
successful expansion of the Company's Customer support,
administrative infrastructure and internal management systems,
could adversely affect the Company's results of operations and
prospects. -- Fluctuations in interest rates and market prices
could reduce the Company's net interest margin and asset valuations
and increase expenses. -- The consequences of continued bank
acquisitions and mergers in the Company's market areas, resulting
in fewer but much larger and financially stronger competitors,
could increase competition for financial services to the Company's
detriment. -- The Company's continued growth will depend in part on
its ability to enter new markets successfully and capitalize on
other growth opportunities. -- Changes in legislative or regulatory
requirements, or actions by the Securities and Exchange Commission
("SEC"), the Financial Accounting Standards Board ("FASB"), or the
Public Company Accounting Oversight Board, applicable to the
Company and its subsidiaries could increase costs, limit certain
operations and adversely affect results of operations. -- Changes
in tax requirements, including tax rate changes, new tax laws and
revised tax law interpretations may increase the Company's tax
expense or adversely affect its Customers' businesses. -- Company
initiatives now in place or introduced in the future, not producing
results consistent with historic growth rates or results which
justify their costs. In light of these risks, uncertainties and
assumptions, you should not place undue reliance on any
forward-looking statements in this report. Except as may be
required by applicable law or regulation, the Company undertakes no
obligation to publicly update or otherwise revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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