LOS ANGELES - Coast Federal Bank, a unit of Coast Savings Financial Inc., said the Office of Thrift Supervision has approved its registration statement for a new financing of $50 million worth of 13% capital notes due 2002.

Kemper Securities Inc. is the underwriter. Coast said it has granted Kemper an overallotment option for up to $7.5 million in additional principal amount.

The offering has already been increased from the original $25 million filed with the thrift regulator.

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