/PRNewswire-FirstCall/ -- Seacoast Banking Corporation of
(the "Company") (Nasdaq: SBCF), a bank holding company whose principal subsidiary is Seacoast National Bank (the "Bank"), announced today that registration statements covering the shares of Company Common Stock sold in private placement have been declared effective by the SEC timely and in accordance with the Company's agreements with its investors. These include shares issued by the Company in connection with its $50 million private placement of permanent equity capital on
April 9, 2010
Dennis S. Hudson, III
, Chairman and CEO of the Company, stated "Seacoast was pleased to have raised the capital in the April offering, and with the continued support of the investors in that offering, including CapGen Financial. The registration of shares sold in private placements is a customary requirement that enables various of our institutional shareholders to meet their legal and policy limits on the amounts of 'restricted securities' they may hold at any time. This recent offering and the completion of these registration statements demonstrates the Company's ability to effectively execute capital markets transactions quickly and effectively."
, a director of Seacoast and a principal of CapGen, which is the Company's largest shareholder, commented: "We are delighted with our investment in the Company and bought additional shares in the April offering."
Seacoast Banking Corporation of
.2 billion in assets. It is one of the largest independent commercial banking organizations domiciled in
, and is headquartered on
Cautionary Notice Regarding Forward-Looking Statements
Certain of the statements made herein are "forward-looking statements," within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act.