STUART, Fla., Jan. 2, 2014 /PRNewswire/ -- Seacoast Banking Corporation of Florida ("Seacoast") (NASDAQ: SBCF), the holding company for Seacoast National Bank, announced that it has redeemed 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 $368,000 of accrued but unpaid dividends. Originally issued to the Treasury Department under the Capital Purchase program and subsequently auctioned to private investors, the shares were redeemed from current holders through The Depository Trust Company as securities depository for the Series A Preferred Stock.
This announcement, as well as additional information (including 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. The Company 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 the Company is available at http://www.seacoastbanking.net. Forward Looking Statement Disclaimer This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.