Coastal Bancorp, Inc. Declares Fourth Quarter Cash Dividends

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Coastal Bancorp, Inc. Declares Fourth Quarter Cash Dividends

		COASTAL BANCORP LOGO Coastal Bancorp. logo. (PRNewsFoto)[DM] HOUSTON, TX USA

    HOUSTON, Feb. 1 /PRNewswire/ -- Coastal Bancorp, Inc. (Nasdaq: CBSA)
announced today that on January 27, 2000, its Board of Directors declared a
quarterly cash dividend of $.08 per share on its common stock.  At the same
meeting dividends were declared for its 9.0% Non-cumulative Preferred Stock
Series A (Nasdaq: CBSAP) of Coastal Banc ssb and its 9.12% Cumulative
Preferred Stock Series A (Nasdaq: CBSAO).  Dividends on the common and the
9.0% Preferred are payable on March 15, 2000 to shareholders of record on
February 15, 2000.  Dividends for the 9.12% Preferred will be paid on
March 31, 2000 to shareholders of record as of March 15, 2000.
    At December 31, 1999, Coastal Bancorp, Inc. had total assets of
$2.9 billion, deposits of $1.6 billion, preferred stock (Series A) of Coastal
Banc ssb of $28.8 million, Series A Cumulative Preferred Stock of
$27.5 million and common stockholders' equity of $106.0 million.
    Coastal Bancorp, Inc. owns, through its wholly-owned subsidiary, Coastal
Banc Holding Company, Inc., 100 percent of the voting stock of Coastal Banc
ssb, a Texas-chartered FDIC insured, state savings bank headquartered in
Houston.  Coastal Banc ssb operates 50 branch offices in metropolitan Houston,
Austin, Corpus Christi, the Rio Grande Valley and small cities in the
southeast quadrant of Texas.  You can visit the Company's web site at
http://www.coastalbanc.com (which is not a part of this press release).
    "Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995:  The statements contained in this release which are not historical
facts contain forward looking information with respect to plans, projections
or future performance of the company, the occurrence of which involve certain
risks and uncertainties detailed in the company's filings with the Securities
and Exchange Commission.

SOURCE Coastal Bancorp, Inc.

http://www.coastalbanc.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/19990826/CBSALOGO
PRN Photo Desk, 888-776-6555 or 201-369-3467
CONTACT:
Manuel J. Mehos, CEO, or Catherine N. Wylie,
CFO, both of Coastal Bancorp, Inc., 713-435-5327, or fax,
713-435-5106