STUART, Fla., July 10 /PRNewswire-FirstCall/ -- Seacoast Banking
Corporation of Florida (Nasdaq: SBCF), a bank holding company whose
principal subsidiary is Seacoast National Bank, announced today its
inclusion in the prestigious Sandler O'Neill's Bank and Thrift Sm-All
Stars' Class of 2006. Sandler O'Neill, an investment banking firm
headquartered in New York that specializes in financial institutions,
selected 34 publicly traded banks and thrifts with a market cap of less
than $2 billion which the firm believes to be the top performing in the
nation.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050916/SEACOASTLOGO )
"We are honored to be selected into Sandler O'Neill's Sm-All Stars'
Class of 2006," stated Dennis S. Hudson, III, Chairman and CEO of Seacoast.
"This recognition reflects the success of our relationship based business
strategy, our focused expansion into high growth markets, our continued
growth in loans and our low cost deposit funding."
Sandler O'Neill's evaluation of the 573 small-cap institutions measured
absolute performance based on eight financial variables: EPS growth, loan
and deposit growth, ROAE, nonperforming assets to loans plus OREO ratio,
net charge-off ratio, reserve to nonperforming assets ratio, and Tier 1
risk-based capital ratio. The 34 companies named are those that Sandler
O'Neill believes could potentially be among the next crop of leading
mid-cap banks and thrifts, uncovered before they are widely followed by
Wall Street.
Headquartered in Stuart, Florida, Seacoast has approximately $2.5
billion in assets and ranks among the largest publicly traded community
banks in the state of Florida. With 41 offices from Orlando to Palm Beach,
its markets include some of the wealthiest and fastest growing areas of the
nation.
SOURCE Seacoast Banking Corporation of Florida
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Related links:
http://www.seacoastbanking.net
Photo Notes:http://www.newscom.com/cgi-bin/prnh/20050916/SEACOASTLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Dennis S. Hudson, III, Chairman and Chief
Executive Officer, +1-772-288-6086, or William R. Hahl, Executive
Vice President and Chief Financial Officer, +1-772-221-2825, both
of Seacoast Banking Corporation of Florida
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