STUART, Fla., Sept. 9 /PRNewswire-FirstCall/ -- One day after Hurricane
Frances swept through Florida's east coast, the Business Continuity Team at
First National Bank, the operating arm of Seacoast Banking Corporation, began
assessing buildings and power outages left behind by Hurricane Frances. On
Tuesday, the first business day following the storm, First National opened
four branches. By Wednesday, thirteen were operational, most providing drive-
up service only. "The largest issue we've experienced is a lack of
electricity to open other locations," said Dennis Hudson, President and CEO of
Seacoast. Two locations in St. Lucie County are expected to be closed for a
longer period of time due to damage from the sustained wind and water brought
on by the storm.
First National Bank is offering special Hurricane Relief programs for
residents of Martin, St. Lucie, Indian River and Palm Beach counties,
including short-term loans up to $25,000 at 0% interest with no fees. The
offer is effective through September 30, 2004 with no interest through
December 31, 2004. Other programs available include special home equity loan
programs with no processing fees or closing costs, deferment of personal or
mortgage loan payments for short terms and reimbursement of ATM fees at the
customer's request. While it is expected that these programs will be needed
by the communities, they are not expected to have a material impact on future
earnings.
First National Bank has established accounts to benefit the American Red
Cross and their disaster relief efforts for both Hurricane Charley and
Frances. Donations are being accepted at all First National Bank offices from
Sebastian to Jupiter.
"We are extremely proud of the commitment and dedication exhibited by our
employees during this difficult time," said Hudson. "Many of them are still
without the basic necessities of electricity and water and yet they are here
working together every day to get us back up and running to serve our
customers -- it's simply amazing."
Seacoast, with approximately $1.4 billion of assets, is one of the largest
independent commercial banking organizations in Florida. Seacoast is
headquartered on Florida's Treasure Coast, which is one of the wealthiest and
fastest-growing areas in the nation.
SOURCE Seacoast Banking Corporation of Florida
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Related links:
http://www.seacoastbanking.net
Company News On-Call:
http://www.prnewswire.com/comp/105663.html
CONTACT:
Dennis S. Hudson, III, President and CEO,
+1-772-288-6086, or William Hahl, Chief Financial Officer,
+1-772-221-2825, both of Seacoast Banking Corporation of Florida
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