STUART, Fla., Dec. 4, 2013 /PRNewswire/ -- Seacoast Banking Corporation of Florida ("Seacoast") (NASDAQ-GS: SBCF), the holding company for Seacoast National Bank, announced it has received regulatory approval to redeem all of its 2,000 shares of Fixed Rate Cumulative Perpetual Preferred Stock, Series A (the "Series A Preferred Stock") for an aggregate price of $50,000,000, the face liquidation amount of the shares, plus approximately $386,000 of accrued but unpaid dividends. The shares will be redeemed from current holders through The Depository Trust Company as securities depository for the Series A Preferred Stock. The redemption date will be December 31, 2013.
Following completion of this redemption, there will be no shares of the Series A Preferred Stock outstanding. This announcement, as well as the Company's Notice of Redemption with respect to the redemption of the Series A Preferred Stock, can be found on Seacoast's website: www.seacoastbanking.net.
About Seacoast Banking Corporation of Florida (NASDAQ: SBCF)Seacoast Banking Corporation of Florida is one of the largest community banks headquartered in Florida with approximately $2.1 billion in assets and $1.7 billion in deposits, as of September 30, 2013. Seacoast provides integrated financial services including commercial and retail banking, wealth management, and mortgage services to customers through 34 traditional branches of its locally-branded wholly-owned subsidiary bank, Seacoast National Bank, and five Accelerate offices fueled by the power of Seacoast National Bank. Offices stretch from Broward County north through the Treasure Coast and into Orlando, and west to Okeechobee and surrounding counties. More information about Seacoast is available at www.seacoastbanking.net.