Coastal Bancorp, Inc. First Quarter Cash Dividends Increased By 20 Percent

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Coastal Bancorp, Inc. First Quarter Cash Dividends Increased By 20 Percent

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

    HOUSTON, May 1 /PRNewswire/ -- Coastal Bancorp, Inc. (Nasdaq: CBSA)
announced today that on April 26, 2001, its Board of Directors voted to
increase the first quarter of 2001 common stock dividend by 20% over the
previous quarter's.  The $0.12 cash dividend will be paid on June 15, 2001 to
shareholders of record as of May 15, 2001.  Future dividend payments will be
determined by the Board of Directors based on the company's results of
operations, financial condition, general economic conditions and other
factors.
    At March 31, 2001, Coastal Bancorp, Inc. had total assets of $3.2 billion,
deposits of $1.7 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 $116.3 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