SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) JULY 19, 1999
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COASTAL BANCORP, INC.
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(Exact name of registrant as specified in charter)
TEXAS 0-24526 76-0428727
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
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5718 WESTHEIMER, SUITE 600, HOUSTON, TEXAS . . . . 77057
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(Address of Principal executive offices) . . . . . (Zip Code)
Registrant's telephone number including area code. (713) 435-5000
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(Former name or former address, if changed since last report) Not
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applicable
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ITEM 5. OTHER EVENTS.
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On July 9, 1999 Coastal Banc ssb, announced today that it has launched
Internet Banking on its web site www.coastalbanc.com. Coastal's Internet
banking includes the following features: Display account information, including
balances; view account history; view electronic statements; transfer funds
between accounts; download transactions to Microsoft Money and Quicken; submit
stop payment requests; order checks; and communicate securely with Coastal's
Customer Connection Center. Internet Banking complements Coastal's existing
online offerings, which include receiving CD applications and a web site
offering information about products and services, a branch locator, investor and
financial information, press releases and job postings. Coastal Banc ssb, a
Texas-chartered state savings bank headquartered in Houston, operates 50 branch
offices in metropolitan Houston, Austin, Corpus Christi, the Rio Grande Valley
and small cities in the south east quadrant of Texas.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
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EXHIBITS.
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(a) Financial Statements
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No financial statements are required.
(b) Pro Forma Financial Information
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No pro forma financial information is required.
(c) Exhibits
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No. Description
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99 Press Release, dated July 9, 1999
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
COASTAL BANCORP, INC.
/s/ Catherine N. Wylie Date: July 19, 1999
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by: Catherine N. Wylie
Sr. Executive Vice President/
Chief Financial Officer
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COASTAL BANCORP, INC.
EXHIBIT 99
PRESS RELEASE OF THE REGISTRANT DATED JULY 9, 1999
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NEWS RELEASE
FOR IMMEDIATE RELEASE
COASTAL BANC SSB LAUNCHES INTERNET BANKING
HOUSTON (July 9, 1999) - Coastal Banc ssb, home of X-Banking, announced
today that it has launched Internet Banking on its web site www.coastalbanc.com.
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"We're pleased to X-ecute Internet Banking in response to the convenience
needs of our customers," said Manuel J. Mehos, Chairman and Chief Executive
Officer of Coastal. "Internet Banking is another important step in our online
strategy. The Internet allows us to add value to existing customers and to
extend our local presence to the wider Internet audience. You hear Internet
Banking being called an alternative delivery system, but for many of our
customers this is, and will be, the main link to us as their bank," comments
Mehos. "Although Internet Banking will never replace your local branch, you no
longer need to visit a physical location to handle many of your daily banking
needs."
Currently, Coastal's Internet Banking includes the following features:
- - Display account information, including balances;
- - View account history;
- - View electronic statements;
- - Transfer funds between accounts;
- - Download transactions to Microsoft Money and Quicken;
- - Submit stop payment requests;
- - Order checks;
- - Communicate securely with Coastal's Customer Connection Center.
Internet Banking complements Coastal's existing online offerings, which
include receiving CD applications and a web site offering information about
products and services, a branch locator, investor and financial information,
press releases and job postings.
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Future plans for the web site include online bill payment services (to be
released soon), extending Internet Banking to meet the more demanding needs of
commercial customers (allowing ACH originations and wire transfers), and further
expanding its online deposit and loan applications.
At March 31, 1999, Coastal had total assets of approximately $3.0 billion
and deposits of approximately $1.7 billion.
Coastal Banc ssb, a Texas-chartered, state savings bank headquartered in
Houston, operates 50 branch offices in metropolitan Houston, Austin, Corpus
Christi, the Rio Grande Valley and small cities in the southeast quadrant of
Texas. The voting stock of Coastal is owned by Coastal Bancorp, Inc. (NASDAQ:
CBSA) through its wholly-owned subsidiary, Coastal Banc Holding Company, Inc.
"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.
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