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COASTAL BANC SAVINGS ASSOCIATION ACQUISITIONS TO INCREASE DEPOSIT BASE BY $440 MILLION

 HOUSTON, March 25 /PRNewswire/ -- Coastal Banc Savings Association (NASDAQ: CBSA) today announced it had entered agreements to purchase nine branches from Guardian Savings and Loan Association of Houston and two branches from Bank United of Texas FSB. Upon regulatory approval, the acquisitions will result in the assumption of approximately $442 million in deposits and 15,000 accounts.
 The Guardian branches to be acquired are located in San Antonio, Corpus Christi, Brenham, Conroe and Sealy. The Bank United branches are located in Harlingen and McAllen. Both transactions are subject to regulatory approval, applications for which will be filed promptly.
 Manuel J. Mehos, chairman and chief executive officer of Coastal Banc, said, "Coastal Banc is aggressively seeking to expand its market presence in small to mid-sized cities and selected urban areas of south Texas. These 11 branches are just what we were looking for to complement and expand our existing branch network."
 As of Feb. 28, 1993, Coastal Banc had assets of $1.28 billion and deposits of $602.9 million. Upon completion of the acquisitions, Coastal Banc will have assets of approximately $1.5 billion, deposits of more than $1 billion and 27 branches.
 "Current customers of both Guardian and Bank United can be assured that we will provide them with the same high level of service they expect," Mehos said. "Customers will be able to continue to do their banking business without disruption."
 Coastal Banc Savings Association is a Texas-chartered, federally insured savings and loan association headquartered in Houston. It currently operates 16 branch offices in metropolitan Houston, areas west and southwest of Houston and one branch in San Benito.
 -0- 3/25/93
 /CONTACT: Manuel J. Mehos of Coastal Banc Savings Association, 713-623-2600/
 (CBSA)


CO: Coastal Banc Savings Association ST: Texas IN: FIN SU: TNM

SM -- NY024 -- 9456 03/25/93 09:44 EST
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Publication:PR Newswire
Date:Mar 25, 1993
Words:305
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