Coastal Financial Corporation Myrtle Beach, South Carolina Announces Quarterly Cash Dividend
2007年3月22日 - 5:49AM
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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 20, 2007 to Shareholders of record as of
April 6, 2007. Coastal Financial Corporation, headquartered in
Myrtle Beach, South Carolina, offers a broad range of commercial,
consumer and mortgage financial services through Coastal Federal
Bank. Coastal Federal, with $1.64 billion in consolidated 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. 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. 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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