Coastal Financial Corporation Announces U.S. Banker Magazine Rankings for 2006
2006年9月2日 - 4:40AM
ビジネスワイヤ(英語)
Coastal Financial Corporation (Nasdaq:CFCP) today announced that,
for the 7th consecutive year, U.S. Banker Magazine, in its
September 2006 edition, has ranked it the #1 Community Bank in the
Carolinas. In this edition, U.S. Banker Magazine featured its
Ranking of the Top 100 Publicly Traded Banks. This ranking features
Banks with between $1 billion and $10 billion in assets, ranked by
3-year average Return On Average Equity. Coastal Financial
Corporation was ranked 20th nationally in this listing. Michael C.
Gerald, President and Chief Executive Officer of Coastal Financial
Corporation, said: "Over the sixteen years since becoming a
publicly owned Company, all of us at Coastal Financial Corporation
have worked diligently toward achieving our Basic Corporate
Objective of Maximizing The Value Of Our Shareholders' Investment
by focusing on our Long-Term Goal of Being The Best Financial
Services Company In Our Marketplace. To receive continuing evidence
of progress in those quests is very gratifying. In the U.S. Banker
Magazine rankings of the top 100 Publicly Traded Community Banks
over the past several years, among banks with assets less than $1
billion, Coastal Financial Corporation was ranked 1st in the
Carolinas and 16th in the nation in 2000, 1st in the Carolinas and
5th in the nation in 2001 and 1st in the Carolinas and 3rd in the
nation in 2002. In its ranking of the top 100 Publicly Traded
Mid-Tier Banks, with assets between $1 billion and $15 billion,
Coastal Financial was ranked 1st in the Carolinas and 39th in the
nation in 2003. And, in its ranking of the top 100 Publicly Traded
Mid-Tier Banks with assets between $1 billion and $10 billion,
Coastal Financial Corporation ranked 1st in the Carolinas and 30th
in the nation in the 2004 edition, 1st in the Carolinas and 29th in
the nation in the 2005 edition. It is particularly gratifying to
have been ranked 1st in the Carolinas and 20th in the nation this
year in the company of this new group of exceptionally high
performing Mid-Tier banks." 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 $1.6 billion in
assets, is a federally chartered and FDIC insured Community bank
with twenty four 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 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 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 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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