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Seacoast Banking Corp. of Florida (SBCF) in Stuart has begun a public offering to fund its exit from the Troubled Asset Relief Program.
November 5
Seacoast Banking Corp. of Florida (SBCF) in Stuart has filed a shelf registration to issue up to $150 million in debt and securities.
The $2.3 billion-asset company said in its filing that it could issue senior or subordinated debt, common or preferred stock, depositary shares and warrants, among other things.
Seacoast said that it could use net proceeds "to support our growth plans, investments in, or extensions of credit to, our subsidiaries, investments in securities and other general corporate purposes."
The company conducted a public offering last fall so it could retire its $50 million in preferred stock from the Troubled Asset Relief Program.
