-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HglRVil2CfzOA9+ldYAhxwXqM+Hp/HNQGCbdaIBD6ZUUG0oGZ4nsKwwS3HM8r3PY u/zede6RKNGXx6FNSCBqgw== 0000919805-99-000002.txt : 19990114 0000919805-99-000002.hdr.sgml : 19990114 ACCESSION NUMBER: 0000919805-99-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980331 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990113 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COASTAL BANCORP INC CENTRAL INDEX KEY: 0000919805 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED [6036] IRS NUMBER: 760428727 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-24526 FILM NUMBER: 99505341 BUSINESS ADDRESS: STREET 1: 5718 WESTHEIMER STREET 2: SUITE 600 CITY: HOUSTON STATE: TX ZIP: 77057 BUSINESS PHONE: 7134355000 MAIL ADDRESS: STREET 1: 5718 WESTHEIMER STREET 2: SUITE 600 CITY: HOUSTON STATE: TX ZIP: 77057 FORMER COMPANY: FORMER CONFORMED NAME: COASTAL BANC SAVINGS ASSOCIATION DATE OF NAME CHANGE: 19970110 FORMER COMPANY: FORMER CONFORMED NAME: COASTAL BANCORP INC/TX/ DATE OF NAME CHANGE: 19940718 8-K 1 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) JANUARY 5, 1999 ----------------- COASTAL BANCORP, INC. --------------------- (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.)
5718 WESTHEIMER, SUITE 600, HOUSTON, TEXAS 77057 - -------------------------------------------------- --------------- (Address of Principal executive offices) (Zip Code) Registrant's telephone number including area code (713) 435-5000 ---------------
(Former name or former address, if changed since last report) Not applicable ---------------- ITEM 5. OTHER EVENTS. - -------- -------------- On January 5, 1999 Coastal Bancorp, Inc. ("Coastal") announced that it has completed the repurchase of 499,600 shares of its common stock under the September 1, 1998 announced stock repurchase plan. The average repurchase price of $15.57 approximates book value at November 30, 1998. In addition, on December 31, 1998 the Board of Directors authorized an additional repurchase plan for up to 500,000 shares of the outstanding shares of common stock through an open-market repurchase program and privately negotiated repurchases, if any. Coastal through its wholly-owned subsidiary, Coastal Banc Holding Company, Inc., owns 100% of the voting stock of the Bank, a Texas-chartered state savings bank headquartered in Houston. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND - -------- --------------------------------------------------------- EXHIBITS. - --------- (a) Financial Statements --------------------- No financial statements are required. (b) Pro Forma Financial Information ---------------------------------- No pro forma financial information is required. (c) Exhibits -------- No. Description --- ----------- 99 Press Release, dated January 5, 1999 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: January 12, 1999 - --- -------------------- by: Catherine N. Wylie Executive Vice President/ Chief Financial Officer COASTAL BANCORP, INC. EXHIBIT 99 PRESS RELEASE OF THE REGISTRANT DATED JANUARY 5, 1999 NEWS RELEASE FOR IMMEDIATE RELEASE COASTAL BANCORP, INC. ANNOUNCES COMPLETION OF ITS INITIAL COMMON STOCK REPURCHASE PLAN HOUSTON (January 5, 1999) - Coastal Bancorp, Inc. (NASDAQ: CBSA) ("Coastal") announced today that it has completed the repurchase of 499,600 shares of its common stock under the September 1, 1998 announced stock repurchase plan. The average repurchase price of $15.57 approximates book value at November 30, 1998. In addition, on December 21, 1998 the Board of Directors authorized an additional repurchase plan for up to 500,000 shares of the outstanding shares of common stock through an open-market repurchase program and privately negotiated repurchases, if any. Repurchases will be made from time to time when deemed appropriate by the Chief Executive Officer and Chief Financial Officer of Coastal. The timing and volume of the repurchase transactions will depend on market conditions. "In light of the recent stock price movement, we see this additional repurchase program as the best use of our cash at the present time and an opportunity to strengthen our investment in Coastal's future," said Manuel J. Mehos, Chairman and Chief Executive Officer. Coastal Bancorp, Inc., through its wholly-owned subsidiary, Coastal Banc Holding Company, Inc., owns 100 percent of the voting stock of Coastal Banc ssb, a Texas-chartered, state savings bank headquartered in Houston. Coastal Banc ssb operates 49 branch offices in metropolitan Houston, Austin, Corpus Christi, the Rio Grande Valley and small cities in the south east quadrant of Texas. "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. # # # # document2 -----END PRIVACY-ENHANCED MESSAGE-----