Coast Financial Holdings Inc. of Bradenton, Fla., plans to open four branches soon in a neighboring county.
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The expansion, announced Monday, would bring the $358 million-asset company into Pinellas County and increase its branch total to 11.
Brian P. Peters, Coast's president and chief executive officer, said it decided to enter a new county after realizing that branching opportunities in its home county of Manatee were limited, while Pinellas, where St. Petersburg is located, had much more growth potential.
The four branch locations, which Coast would acquire or lease, were formerly occupied by other banks. Because the locations are set up for banking, the cost of opening the branches would be minimal, Mr. Peters said.
