Coastal Bancorp, Inc. Second Quarter Cash Dividends Increased by 25 Percent

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Coastal Bancorp, Inc. Second Quarter Cash Dividends Increased by 25 Percent

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

    HOUSTON, July 31 /PRNewswire/ -- Coastal Bancorp, Inc. (Nasdaq: CBSA)
announced today that on July 27, 2000, its Board of Directors voted to
increase the second quarter of 2000 common stock dividend by 25% over the
previous quarter's.  The $.10 cash dividend will be paid on September 15, 2000
to shareholders of record as of August 15, 2000.  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 June 30, 2000, Coastal Bancorp, Inc. had total assets of $3.1 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 $101.2 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