First Federal Bancorp, Inc., Completes Merger With Coastal Banking Company, Inc.

First Federal Bancorp, Inc., Completes Merger With Coastal Banking Company, Inc.

LAKE CITY, Fla., April 2, 2018 – First Federal Bancorp, Inc. (“FFBI”), the holding company of First Federal Bank of Florida (“First Federal”) today announced that it has completed the merger with Coastal Banking Company, Inc. (OTCQX: CBCO), the holding company of CBC National Bank (“CBC”).

CBC has been merged with and into First Federal. The merger adds full-service banking offices in Fernandina Beach, Ocala, and The Villages, Fla., and Beaufort and Port Royal, S.C., mortgage lending offices in Florida, across the Southeast and Midwest, and both SBA and USDA lending offices across Florida and in multiple states. In addition to increased influence in Nassau County, First Federal gains 10,000 customers, approximately $600 million in assets, $425 million in deposits, and $400 million in gross loans.

 “The merger with CBC allows First Federal to grow our presence, customer base and range of products and services in Nassau County and in other vibrant, economically strong markets in both Florida and South Carolina, as well as add mortgage, SBA and USDA lending offices in numerous states,” said Keith Leibfried, president and chief executive officer of First Federal. “We couldn’t be more pleased to welcome CBC’s employees and customers to First Federal, and we look forward to serving the full range of banking and lending needs of all of our customers as we continue to integrate CBC’s operations into First Federal.”

First Federal will work to integrate CBC systems, processes, products and services over the next several months. The conversion is expected to be complete in August. CBC customers are encouraged to continue banking as they normally do and will receive further information this summer.

About First Federal

First Federal Bank of Florida is a community bank founded in the heart of North Florida in 1962. Today, First Federal is a $2 billion-asset institution offering a full line of personal and business financial solutions, services and loans through full-service banking offices in Florida’s Panhandle, North Central Florida, and coastal South Carolina. In addition, First Federal has mortgage lending offices across the Southeast and Midwest, and SBA and USDA lending offices throughout Florida and in multiple states. First Federal is a mutual savings bank and continues to receive a “5-Star, Superior” financial rating from BauerFinancial, Inc., of Coral Gables, Fla. For more information, visit www.ffbf.com.

Nina Heringer

Director of Marketing

(386) 755-0600, ext. 3156

M: (386) 697-6491

heringern@ffbf.com

Coastal Banking Company Announces Shareholder Approval of Proposed Merger with First Federal Bancorp

BEAUFORT, S.C., Feb. 21, 2018 – Coastal Banking Company Inc. (OTCQX:CBCO), the holding company of CBC National Bank, which operates branches in Beaufort and Port Royal, S.C., and in Fernandina Beach, Ocala, and The Villages, Fla., today announced that its shareholders have approved the previously announced merger transaction with First Federal Bancorp Inc. in a vote that took place yesterday.

On Nov. 7, 2017, First Federal Bancorp Inc., the holding company of First Federal Bank of Florida, based in Lake City, Fla., announced a definitive merger agreement to acquire Coastal Banking Company Inc. and CBC National Bank. Upon completion of the merger, First Federal will pay $21.50 per share in cash for each Coastal Banking Company common share and stock option outstanding in a transaction valued at $83.2 million. Pending regulatory approval, the merger is expected to be completed in the second quarter.

“We are gratified and excited to have taken another significant step toward our partnership with First Federal,” said Michael G. Sanchez, chairman and chief executive officer. “The combination of our two organizations, including the vibrant markets we serve, the full array of personal and business financial services and products, and the knowledgeable, personable staff of both companies, will provide our customers with a new level of convenience, service and choice.”

First Federal Bank of Florida is a community bank founded in the heart of North Florida in 1962. Today, First Federal is a $1.5 billion-asset institution offering a full line of personal and business financial solutions, loans, and services from Florida’s Panhandle to the First Coast. First Federal is a mutual savings bank and continues to receive a “5-Star, Superior” financial rating from BauerFinancial Inc. For more information, visit www.ffbf.com.

Full Release:

http://www.coastalbanking.com/reports--news---filings.html

For More Information Contact:

Michael G. Sanchez                                                    Thomas J. Flournoy               

Chairman & Chief Executive Officer                         EVP & Chief Financial Officer

Coastal Banking Company Inc.                                  Coastal Banking Company Inc.

904-321-0400                                                              904-321-2917              

Coastal Banking Company Reports Strong Fourth Quarter and Record 2017 Earnings.

Coastal Banking Company Reports Strong Fourth Quarter and Record 2017 Earnings.

BEAUFORT, SC / ACCESSWIRE / January 30, 2018 / Coastal Banking Company Inc. (OTCQX: CBCO) (the "Company"), the holding company of CBC National Bank, which operates branches in Beaufort and Port Royal, S.C., and in Fernandina Beach, Ocala, and The Villages, Fla., today reported record net income of $6.99 million, or $1.83 diluted earnings per common share, for the year ended Dec. 31, 2017. Earnings for 2017 represented a slight increase over the net income for the year ended Dec. 31, 2016, of $6.96 million, or $2.05 diluted earnings per common share.

The Company reported net income of $1.72 million, or $0.45 diluted earnings per common share, for the three months ended Dec. 31, 2017. This compares to $2.21 million, or $0.59 in diluted earnings per common share, for the fourth quarter of 2016, a decrease of $490,000. The fourth quarter of 2016 represented the highest earnings quarter in the Company's history. On a linked-quarter basis, the $1.72 million of net income in the fourth quarter of 2017 was comparable to the third quarter 2017 net income of $1.71 million, or $0.45 diluted earnings per common share.

Continued strong profitability. Annual 2017 results continued to feature more balanced net income and solid contributions from all three of the Company's operating segments as compared to 2016: Community Banking earned $3.59 million in 2017, up from $2.20 million in 2016. SBA Lending earned $2.02 million in 2017, up from $891,000 earned in 2016. And Mortgage Banking earned $3.87 million in 2017.

Read Full Release & Financial Statements:
http://www.coastalbanking.com/reports--news---filings.html