BRADENTON, Fla. and ST. LOUIS, Aug. 3,2007 -- Coast Financial Holdings, Inc. (Nasdaq: CFHI), a bank holding company headquartered in Bradenton, Florida, and First Banks, Inc. ("First Banks"), a bank holding company headquartered in St. Louis, Missouri, jointly announce the signing of an Agreement and Plan of Merger providing for First Banks to acquire Coast Financial Holdings, Inc., a Florida bank holding company ("CFHI"), and its wholly owned banking subsidiary, Coast Bank of Florida, a Florida state chartered bank (collectively, "Coast"). Coast operates 20 banking offices in Florida'sManatee, Pinellas, Hillsborough and Pasco counties. Coast also has two planned de novo branch offices, one located in the Pinellas County community of Clearwater, and the other located in Sarasota County.