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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 -
The Treasury Department's recent auction of preferred shares in six banks may signal that the agency has finally found a path to end its bank investments under the Troubled Asset Relief Program.
April 12 -
Seacoast Banking Corp. of Florida (SBCF) in Stuart, Fla., has been released from all enforcement actions with the Office of the Comptroller of the Currency.
September 25 -
Seacoast Banking Corp. of Florida (SBCF) is shifting to a more heavily stock-based payment structure for its directors.
October 21
Seacoast Banking Corp. of Florida (SBCF) in Stuart plans to redeem its $50 million of outstanding Troubled Asset Relief Program shares.
The $1.7 billion company plans to pay face value for the stock, plus $386,000 in unpaid dividends, on Dec. 31. The redemption requires regulatory approval.
Seacoast
Separately, Seacoast's board approved a reverse stock split last week to bolster the company's stock price. The 1-for-5 split will take place Dec. 13, the company said.
"We believe a higher stock price following the effective date of the reverse split will broaden the range of investors in our stock, increase the visibility of our earnings trends and lower investor trading costs," Dennis Hudson, Seacoast's chief executive, said in a press release.
Seacoast's stock was trading at $2.23 a share early Monday, down slightly more than 1% from its Friday closing price.
Seacoast was
