SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
X	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* WYLIE CATHERINE N (Last) (First) (Middle) 5718 WESTHEIMER, SUITE 600 (Street) HOUSTON TX 77057 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol COASTAL BANCORP INC [ CBSA ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) SVP and CFO
	3. Date of Earliest Transaction (Month/Day/Year) 05/13/2004
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock CUSIP# 19041P105	05/13/2004		D		17,100	D	$41.5	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to Buy)	$11.42	05/13/2004		D			3,679	(1)	06/23/2004	Common Stock	3,679	$30.08	0	D
Employee Stock Option (Right to Buy)	$10.33	05/13/2004		D			8,167	(2)	05/25/2005	Common Stock	8,167	$31.17	0	D
Employee Stock Option (Right to Buy)	$11.33	05/13/2004		D			15,000	(3)	03/28/2006	Common Stock	15,000	$30.17	0	D
Employee Stock Option (Right to Buy)	$15.17	05/13/2004		D			12,024	(4)	04/24/2007	Common Stock	12,024	$26.33	0	D
Employee Stock Option (Right to Buy)	$15.17	05/13/2004		D			4,476	(5)	04/24/2007	Common Stock	4,476	$26.33	0	D
Employee Stock Option (Right to Buy)	$25.125	05/13/2004		D			1,500	(6)	06/25/2008	Common Stock	1,500	$16.38	0	D
Employee Stock Option (Right to Buy)	$25.125	05/13/2004		D			1,500	(7)	06/25/2008	Common Stock	1,500	$16.38	0	D
Employee Stock Option (Right to Buy)	$16	05/13/2004		D			11,161	(8)	05/27/2009	Common Stock	11,161	$25.5	0	D
Employee Stock Option (Right to Buy)	$16	05/13/2004		D			8,839	(9)	05/27/2009	Common Stock	8,839	$25.5	0	D
Employee Stock Option (Right to Buy)	$14.75	05/13/2004		D			8,317	(10)	05/25/2010	Common Stock	8,317	$26.75	0	D
Employee Stock Option (Right to Buy)	$14.75	05/13/2004		D			4,683	(11)	05/25/2010	Common Stock	4,683	$26.75	0	D
Employee Stock Option (Right to Buy)	$30.44	05/13/2004		D			3,531	(12)	02/11/2012	Common Stock	3,531	$11.06	0	D
Employee Stock Option (Right to Buy)	$30.9	05/13/2004		D			7,500	(13)	06/27/2012	Common Stock	7,500	$10.6	0	D
Employee Stock Option (Right to Buy)	$28.83	05/13/2004		D			10,000	(14)	06/26/2013	Common Stock	10,000	$12.67	0	D

Explanation of Responses:

1. This option, which was issued under the Coastal Bancorp, Inc. 1991 Stock Compensation Program, and vested 25% in 1994 and an additional 25% for each of the next three years (and accelerated the effective date of the merger), was cancelled in the merger by and among Coastal Bancorp. Inc., Hibernia Corporation and Hibernia Acquisition Corporation, in exchange for a cash payment of $110,664.32, representing the difference between the exercise price of the option and the market value of the underlying Coastal Bancorp, Inc. common stock on the effective date of the merger ($41.50 per share).

2. This option, which was issued under the Coastal Bancorp, Inc. 1991 Stock Compensation Program, and vested 25% in 1995 and an additional 25% for each of the next three years (and accelerated the effective date of the merger), was cancelled in the merger by and among Coastal Bancorp. Inc., Hibernia Corporation and Hibernia Acquisition Corporation, in exchange for a cash payment of $254,565.39, representing the difference between the exercise price of the option and the market value of the underlying Coastal Bancorp, Inc. common stock on the effective date of the merger ($41.50 per share).

3. ) The option, which was issued under the Coastal Bancorp, Inc. 1995 Stock Compensation Program, and vested 25% in 1996 and an additional 25% for each of the next three years (and accelerated the effective date of the merger), was cancelled in the merger by and among Coastal Bancorp. Inc., Hibernia Corporation and Hibernia Acquisition Corporation, in exchange for a cash payment of $452,550.00, representing the difference between the exercise price of the option and the market value of the underlying Coastal Bancorp, Inc. common stock on the effective date of the merger ($41.50 per share).

4. This option, which was issued under the Coastal Bancorp, Inc. 1995 Stock Compensation Program, and vested 25% in 1997 and an additional 25% for each of the next three years (and accelerated the effective date of the merger), was cancelled in the merger by and among Coastal Bancorp. Inc., Hibernia Corporation and Hibernia Acquisition Corporation, in exchange for a cash payment of $316,591.92, representing the difference between the exercise price of the option and the market value of the underlying Coastal Bancorp, Inc. common stock on the effective date of the merger ($41.50 per share).

5. This option, which was issued under the Coastal Bancorp, Inc. 1995 Stock Compensation Program, and vested 25% in 1997 and an additional 25% for each of the next three years (and accelerated the effective date of the merger), was cancelled in the merger by and among Coastal Bancorp. Inc., Hibernia Corporation and Hibernia Acquisition Corporation, in exchange for a cash payment of $117,853.08, representing the difference between the exercise price of the option and the market value of the underlying Coastal Bancorp, Inc. common stock on the effective date of the merger ($41.50 per share).

6. This option, which was issued under the Coastal Bancorp, Inc. 1995 Stock Compensation Program, and vested 25% in 1998 and an additional 25% for each of the next three years (and accelerated the effective date of the merger), was cancelled in the merger by and among Coastal Bancorp. Inc., Hibernia Corporation and Hibernia Acquisition Corporation, in exchange for a cash payment of $24,562.50, representing the difference between the exercise price of the option and the market value of the underlying Coastal Bancorp, Inc. common stock on the effective date of the merger ($41.50 per share).

7. This option, which was issued under the Coastal Bancorp, Inc. 1995 Stock Compensation Program, and vested 25% in 1998 and an additional 25% for each of the next three years (and accelerated the effective date of the merger), was cancelled in the merger by and among Coastal Bancorp. Inc., Hibernia Corporation and Hibernia Acquisition Corporation, in exchange for a cash payment of $24,562.50, representing the difference between the exercise price of the option and the market value of the underlying Coastal Bancorp, Inc. common stock on the effective date of the merger ($41.50 per share).

8. This option, which was issued under the Coastal Bancorp, Inc. 1999 Stock Compensation Program, and vested 25% in 1999 and an additional 25% for each of the next three years (and accelerated the effective date of the merger), was cancelled in the merger by and among Coastal Bancorp. Inc., Hibernia Corporation and Hibernia Acquisition Corporation, in exchange for a cash payment of $284,605.50, representing the difference between the exercise price of the option and the market value of the underlying Coastal Bancorp, Inc. common stock on the effective date of the merger ($41.50 per share).

9. ) This option, which was issued under the Coastal Bancorp, Inc. 1999 Stock Compensation Program, and vested 25% in 1999 and an additional 25% for each of the next three years (and accelerated the effective date of the merger), was cancelled in the merger by and among Coastal Bancorp. Inc., Hibernia Corporation and Hibernia Acquisition Corporation, in exchange for a cash payment of $225,394.50, representing the difference between the exercise price of the option and the market value of the underlying Coastal Bancorp, Inc. common stock on the effective date of the merger ($41.50 per share).

10. This option, which was issued under the Coastal Bancorp, Inc. 1999 Stock Compensation Program, and vested 25% in 2000 and an additional 25% for each of the next three years (and accelerated the effective date of the merger), was cancelled in the merger by and among Coastal Bancorp. Inc., Hibernia Corporation and Hibernia Acquisition Corporation, in exchange for a cash payment of $222,479.75, representing the difference between the exercise price of the option and the market value of the underlying Coastal Bancorp, Inc. common stock on the effective date of the merger ($41.50 per share).

11. ) This option, which was issued under the Coastal Bancorp, Inc. 1999 Stock Compensation Program, and vested 25% in 2000 and an additional 25% for each of the next three years (and accelerated the effective date of the merger), was cancelled in the merger by and among Coastal Bancorp. Inc., Hibernia Corporation and Hibernia Acquisition Corporation, in exchange for a cash payment of $125,270.25, representing the difference between the exercise price of the option and the market value of the underlying Coastal Bancorp, Inc. common stock on the effective date of the merger ($41.50 per share).

12. This option, which was issued under the Coastal Bancorp, Inc. 1999 Stock Compensation Program, and vested 25% in 2002 and an additional 25% for each of the next three years (and accelerated the effective date of the merger), was cancelled in the merger by and among Coastal Bancorp. Inc., Hibernia Corporation and Hibernia Acquisition Corporation, in exchange for a cash payment of $39,052.86, representing the difference between the exercise price of the option and the market value of the underlying Coastal Bancorp, Inc. common stock on the effective date of the merger ($41.50 per share).

13. This option, which was issued under the Coastal Bancorp, Inc. 1999 Stock Compensation Program, and vested 25% in 2002 and an additional 25% for each of the next three years (and accelerated the effective date of the merger), was cancelled in the merger by and among Coastal Bancorp. Inc., Hibernia Corporation and Hibernia Acquisition Corporation, in exchange for a cash payment of $79,500.00, representing the difference between the exercise price of the option and the market value of the underlying Coastal Bancorp, Inc. common stock on the effective date of the merger ($41.50 per share).

14. This option, which was issued under the Coastal Bancorp, Inc. 1999 Stock Compensation Program, and vested 25% in 2003 and an additional 25% for each of the next three years (and accelerated the effective date of the merger), was cancelled in the merger by and among Coastal Bancorp. Inc., Hibernia Corporation and Hibernia Acquisition Corporation, in exchange for a cash payment of $126,700.00, representing the difference between the exercise price of the option and the market value of the underlying Coastal Bancorp, Inc. common stock on the effective date of the merger ($41.50 per share).

Remarks:

	Catherine N. Wylie	05/13/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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