SC 13D 1 doc1.txt ------------------------------ OMB APPROVAL ------------------------------ OMB Number 3235-0145 Expires: October 31, 2002 Estimated average burden hours per response 14.90 ------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. )* COASTAL BANCORP, INC. -------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK -------------------------------------------------------------------------------- (Title of Class of Securities) 19041P105 -------------------------------------------------------------------------------- (CUSIP Number) D. FORT FLOWERS, JR. 2001 KIRBY, SUITE 1210 HOUSTON, TEXAS 77056 (713) 529-3729 -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) JUNE 19, 2002 -------------------------------------------------------------------------------- (Date of Event which Requires Filing of This Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [_]. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See ss. 240.13d-7(b) for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER. Page 2 of 7 Pages 1. D. FORT FLOWERS, JR. ------------------------ Name of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). 2. N/A ---- Check the Appropriate Box If a Member of a Group (See Instructions) (a) [x] (b) [_] 3. SEC Use Only 4. Source of Funds (See Instructions) N/A 5. Check If Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] 6. Citizenship or Place of Organization U.S. CITIZEN -------------- 7. Sole Voting Power NUMBER OF 4,851 SHARES BENEFICIALLY 8. Shared Voting Power OWNED BY 269,520 EACH REPORTING 9. Sole Dispositive Power PERSON 4,851 WITH 10. Shared Dispositive Power 269,520 11. Aggregate Amount Beneficially Owned by Each Reporting Person 274,371 12. Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] N/A 13. Percent of Class Represented by Amount in Row (11) 5.1744% 14. Type of Reporting Person (See Instructions) IN Page 3 of 7 Pages 1. DANIEL F. FLOWERS -------------------- Name of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). 2. N/A ---- Check the Appropriate Box If a Member of a Group (See Instructions) (a) [x] (b) [_] 3. SEC Use Only 4. Source of Funds (See Instructions) N/A 5. Check If Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] 6. Citizenship or Place of Organization US CITIZEN ------------ 7. Sole Voting Power NUMBER OF 0 SHARES BENEFICIALLY 8. Shared Voting Power OWNED BY 269,520 EACH REPORTING 9. Sole Dispositive Power PERSON 0 WITH 10. Shared Dispositive Power 269,520 11. Aggregate Amount Beneficially Owned by Each Reporting Person 269,520 12. Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] N/A 13. Percent of Class Represented by Amount in Row (11) 5.0829% 14. Type of Reporting Person (See Instructions) CO-TRUSTEE Page 4 of 7 Pages 1. LUCIAN L. MORRISON --------------------- Name of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). 2. N/A ----- Check the Appropriate Box If a Member of a Group (See Instructions) (a) [x] (b) [_] 3. SEC Use Only 4. Source of Funds (See Instructions) N/A 5. Check If Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] 6. Citizenship or Place of Organization US CITIZEN ------------ 7. Sole Voting Power NUMBER OF 0 SHARES BENEFICIALLY 8. Shared Voting Power OWNED BY 269,520 EACH REPORTING 9. Sole Dispositive Power PERSON 0 WITH 10. Shared Dispositive Power 269,520 11. Aggregate Amount Beneficially Owned by Each Reporting Person 269,520 12. Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] N/A 13. Percent of Class Represented by Amount in Row (11) 5.0829% 14. Type of Reporting Person (See Instructions) CO-TRUSTEE Page 5 of 7 Pages 1. SENTINEL TRUST COMPANY ------------------------- Name of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). 2. N/A ----- Check the Appropriate Box If a Member of a Group (See Instructions) (a) [x] (b) [_] 3. SEC Use Only 4. Source of Funds (See Instructions) N/A 5. Check If Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] 6. Citizenship or Place of Organization TEXAS ----- 7. Sole Voting Power NUMBER OF 0 SHARES BENEFICIALLY 8. Shared Voting Power OWNED BY 269,520 EACH REPORTING 9. Sole Dispositive Power PERSON 0 WITH 10. Shared Dispositive Power 269,520 11. Aggregate Amount Beneficially Owned by Each Reporting Person 269,520 12. Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] N/A 13. Percent of Class Represented by Amount in Row (11) 5.0829% 14. Type of Reporting Person (See Instructions) CO-TRUSTEE Page 6 of 7 Pages ITEM 1. SECURITY AND ISSUER This statement on Schedule 13D relates to the Common Stock of Coastal Bancorp, Inc., and is being filed pursuant to Rule 13d-1 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The address of the principal executive offices of Coastal Bancorp, Inc. is 5718 Westheimer, Suite 600, Houston, TX 77057. ITEM 2. IDENTITY AND BACKGROUND (a) This statement is filed by D. Fort Flowers, Jr., individually and for various trusts of which Mr. Flowers is a co-trustee with Daniel F. Flowers, Lucian L. Morrison and Sentinel Trust Company, LBA (the "Trusts"). (b) The address of residence for D. Fort Flowers, Jr is C/O Sentinel Trust Company, 2001 Kirby, Suite 1210, Houston, TX 77056, for Daniel F. Flowers is C/O Sentinel Trust Company, 2001 Kirby, Suite 1210, Houston, TX 77056, and for Lucian L. Morrisson is C/O Sentinel Trust Company, 2001 Kirby, Suite 1210, Houston, TX 77056. The address of Sentinel Trust Company is 2001 Kirby, Suite 1210, Houston, TX 77056. (c) D. Fort Flowers, Jr. is the President of Sentinel Trust Company. (d) D. Fort Flowers, Jr., Daniel F. Flowers and Lucian L. Morrison have not, during the last five years, been convicted in a criminal proceeding. (e) D. Fort Flowers, Jr., Daniel F. Flowers and Lucian L. Morrison have not, during the last five years been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and is not subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. (f) D. Fort Flowers, Jr., Daniel F. Flowers and Lucian L. Morrison are all U.S. Citizens. Sentinel Trust Company is a Texas Limited Banking Association. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION NOT APPLICABLE ITEM 4. PURPOSE OF TRANSACTION (a) Due to Issuer's repurchase of 500,000 shares, D. Fort Flowers, Jr., Daniel F. Flowers and Lucian L. Morrison and Sentinel Trust Company, as co-trustees of the Trusts, currently own over 5% of the outstanding common stock. (b) 5.1744%. (c) N/A (d) N/A (e) N/A (f) N/A (g) N/A (h) N/A (i) N/A (j) N/A Page 7 of 7 Pages ITEM 5. INTEREST IN SECURITIES OF THE ISSUER (a) Amount beneficially owned: 274,371. D. Fort Flowers beneficially owns 4,851 shares individually. The Trusts beneficially own 269,520. (b) (i) Sole power to vote or to direct the vote: 4,851 (ii) Shared power to vote or to direct the vote: 269,520 (iii) Sole power to dispose or to direct th disposition of: 4,851 (iv) Shared power to dispose or to direct the disposal of: 269,520 (c) Due to Issuer's repurchase of 500,000 shares, the percentage of shares owned by D. Fort Flowers, Jr., Daniel F. Flowers, Lucian L. Morrison and Sentinel Trust Company are now over 5%. (d) N/A (e) June 19, 2002 ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON All securities reported in this schedule are owned by D. Fort Flowers, Jr. or are held by the Trusts of which Mr. Flowers is a co-trustee with Daniel F. Flowers, Lucian L. Morrison, and Sentinel Trust Company, LBA. ITEM 7. EXHIBIT 1. Joint Filing Agreement SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. DATED: July 1st, 2002 BY: /s/ D. Fort Flowers, Jr. D. Fort Flowers, Jr., individually and as trustee DATED: July 1st, 2002 BY: /s/ Daniel D. Flowers Daniel D. Flowers, as trustee DATED: July 1st, 2002 BY: /s/ Lucian L. Morrisson Lucian L. Morrisson, as trustee SENTINEL TRUST COMPANY, as Trustee DATED: July 1st, 2002 BY: /s/ D. Fort Flowers, Jr. D. Fort Flowers, Jr., President EXHIBIT 1 JOINT FILING AGREEMENT ---------------------- In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including any and all amendments thereto) with respect to the Common Stock, par value $.01 per share, of Coastal Bancorp, Inc. and further agree that this Joint Filing Agreement shall be included as an Exhibit to such joint filings. The undersigned further agree that each party hereto is responsible for timely filing of such Statement on Schedule 13D and any amendments thereto, and for the accuracy and completeness of the information concerning such party contained therein; provided, however, that no party is responsible for the accuracy or completeness of the information concerning any other party, unless such party knows or has reason to believe that such information is inaccurate. This Joint Filing Agreement may be signed in counterparts with the same effect as if the signature on each counterpart were upon the same instrument. IN WITNESS WHEREOF, the undersigned have executed this Agreement as of July 1st, 2002. By: /s/ D. Fort Flowers, Jr. ---------------------------- D. Fort Flowers, Jr. as Individual and Co-Trustee By: /s/ Daniel F. Flowers ------------------------ Daniel F. Flowers as Co-Trustee By: /s/ Lucian L. Morrison ------------------------- Lucian L. Morrison as Co-Trustee SENTINEL TRUST COMPANY as Co-Trustee By: /s/ D. Fort Flowers, Jr. ---------------------------- D. Fort Flowers, Jr. as President