Exhibit 99.1

                        CENTRAL COAST BANCORP

PRESS RELEASE                     Contact:   Robert Stanberry
                                             Chief Financial Officer
                                             (831) 422-6642


                     CENTRAL COAST BANCORP ANNOUNCES STOCK
                              REPURCHASE PROGRAM


Salinas,   California  -  February  28,  2001.  Nick   Ventimiglia,   Chairman,
President  and CEO of Central  Coast  Bancorp  (Nasdaq:  CCBN) today  announced
that the board of directors has  authorized a stock  repurchase  program for up
to  five  percent  (5%)  of the  Company's  outstanding  shares.  This is a new
program  authorized  in  anticipation  of the  completion  of the previous five
percent  repurchase  program  announced  in May 2000.  The May 2000 program has
approximately  70,000  shares left to  repurchase  out of an approved  total of
382,600 shares (adjusted for the 10% stock dividend issued today).

The  repurchases  will be made  from  time to time by the  Company  in the open
market  or in  block  purchases  or in  privately  negotiated  transactions  in
compliance with Securities and Exchange  Commission  (SEC) rules.  Based on the
current  outstanding  shares less the  remaining  shares to be purchased  under
the May 2000 plan, up to approximately 365,000 shares may be repurchased.

Ventimiglia  stated:  "The  additional  repurchase of Central  Coast  Bancorp's
stock will  provide  continued  value for our  shareholders  by  enhancing  per
share earnings and improving the return on equity of the Company."

Central  Coast  Bancorp  operates as a holding  company for  Community  Bank of
Central  California.  Community  Bank,  headquartered  in  Salinas,  has branch
offices located in the Monterey County  communities of Salinas,  North Salinas,
Monterey,  Seaside, Marina,  Castroville,  Gonzales and King City, in the Santa
Cruz County  community of  Watsonville  and in the San Benito County  community
of Hollister.  The Bank provides  traditional  deposit,  lending,  mortgage and
commercial  products and services to business and retail  customers  throughout
the  California  Central  Coast  area.  The  Bank has an  Internet  web site at
www.community-bnk.com.

Forward-Looking Statements

In  addition  to  the  historical  information  contained  herein,  this  press
release  contains  certain  forward-looking  statements.  The  reader  of  this
press release should  understand that all such  forward-looking  statements are
subject to various  uncertainties  and risks that could affect  their  outcome.
The Company's  actual results could differ  materially  from those suggested by
such  forward-looking  statements.  Changes  to such  risks and  uncertainties,
which could impact future financial  performance,  include,  among others:  (1)
competitive  pressures  in the banking  industry;  (2) changes in the  interest
rate environment; (3) general economic conditions,  nationally,  regionally and
in the operating  market areas of the Company and the Bank;  (4) changes in the
regulatory environment;  (5) changes in business conditions and inflation;  (6)
changes in  securities  markets.  This entire press  release  should be read to
put such  forward-looking  statements  in context  and to gain a more  complete
understanding  of  the  uncertainties  and  risks  involved  in  the  Company's
business.



                  301 Main Street, Salinas, California 93901


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