Seacoast will file with the Securities and Exchange Commission (the SEC) a registration statement on Form S-4 containing a proxy statement of Drummond and a prospectus of Seacoast, and Seacoast will file other documents with the SEC with respect to the proposed merger. *Asset-Based Lending provides working capital as a structured revolving line of credit based on a percentage of the value of the companys assets**,such as commercial accounts receivables, inventory, machinery and equipment. 96. The duration of this liquidity remaining on the balance sheet is uncertain; changes in borrower credit risks and payment behaviors, including as a result of the financial impact of COVID-19; changes in retail distribution strategies, customer preferences and behavior; changes in the availability and cost of credit and capital in the financial markets; changes in the prices, values and sales volumes of residential and commercial real estate; the Company's ability to comply with any regulatory requirements; the effects of problems encountered by other financial institutions that adversely affect Seacoast or the banking industry; Seacoast's concentration in commercial real estate loans and in real estate collateral in the state of Florida; inaccuracies or other failures from the use of models, including the failure of assumptions and estimates, as well as differences in, and changes to, economic, market and credit conditions; the impact on the valuation of Seacoast's investments due to market volatility or counterparty payment risk; statutory and regulatory dividend restrictions; increases in regulatory capital requirements for banking organizations generally; the risks of mergers, acquisitions and divestitures, including Seacoast's ability to continue to identify acquisition targets and successfully acquire and integrate desirable financial institutions; changes in technology or products that may be more difficult, costly, or less effective than anticipated; the Company's ability to identify and address increased cybersecurity risks, including as a result of employees working remotely; inability of Seacoast's risk management framework to manage risks associated with the business; dependence on key suppliers or vendors to obtain equipment or services for the business on acceptable terms; reduction in or the termination of Seacoast's ability to use the mobile-based platform that is critical to the Company's business growth strategy; the effects of war or other conflicts, acts of terrorism, natural disasters, health emergencies, epidemics or pandemics, or other catastrophic events that may affect general economic conditions; unexpected outcomes of, and the costs associated with, existing or new litigation involving the Company, including as a result of the Companys participation in the PPP; Seacoast's ability to maintain adequate internal controls over financial reporting; potential claims, damages, penalties, fines and reputational damage resulting from pending or future litigation, regulatory proceedings and enforcement actions; the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, non-bank financial technology providers, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions operating in the Company's market areas and elsewhere, including institutions operating regionally, nationally and internationally, together with such competitors offering banking products and services by mail, telephone, computer and the Internet; the failure of assumptions underlying the establishment of reserves for possible credit losses. * U.S. checking or savings account required to use Zelle. I dealt with the best financial manager who helped get the fee waived immediately and my bank account back to good standing. STUART, Fla., Aug. 06, 2021 (GLOBE NEWSWIRE) -- Seacoast Banking Corporation of Florida (NASDAQ: SBCF) ("Seacoast"), the holding company for Seacoast National Bank ("Seacoast Bank"), announced today the completion of its acquisition of Legacy Bank of Florida ("Legacy Bank"), effective August6, 2021, pursuant to the merger of Legacy Bank with and into Seacoast Bank. Aug 24, 2021 9:52AM EDT. Accounts receivable assets take first priority, with a borrowing base up to 90%, depending on the business and its qualifications. At Seacoast Bank, everything we do is based upon core beliefs summarized in the Four Promises we make to you. Yes, by clicking on the account on the homepage, you be able to see the Account Details page. Small, midsize, or large companies with a reliable track record and having a pending increased working capital need. Draw on as little or as much as your business needs from your available line of credit. Direct Connect communicates directly with Seacoast on your behalf. The mobile deposit feature allows you to make a check deposit via Mobile Banking, by photographing the front and back of the check with your iPhone or Android mobile phone and submitting that image for deposit to your account. Under the terms of the merger agreement, Legacy Bank shareholders received 0.1703 shares of Seacoast common stock for each share of Legacy Bank common stock held immediately prior to the merger, and Legacy Bank option holders received options to purchase Seacoast common stock, with the number of shares underlying each such option and the applicable exercise price adjusted using the same 0.1703 exchange ratio. Now, in partnership with Seacoast, we are positioned to further accelerate everything weve been doing to build a best-in-class banking experience supported by leading-edge technology and a great team of professionals, said Luther Drummond, Chairman and President of Drummond and Chairman of Drummond Community Bank. All rights reserved. Zelle and the Zelle related trademarks are wholly owned by Early Warning Services, LLC and are used herein under license. Serving over 270,000 customers throughout Florida, with a wide variety of customer segments and industries. Download and save your bank transactions to your computer. You should not expect the Company to update any forward-looking statements. The bank provides a full range of banking and investment services to businesses and consumers, including personal and business deposit products, internet and mobile banking, personal, commercial, and mortgage loans, and wealth management services . The Community of Madrid has resorted to the capital markets again in February 2020 to successfully place a new sustainable bond with a 10-year term and for a volume of 1.250 million euros, being mandated for this by BBVA, Banco Santander , Banco Sabadell, HSBC, Bankia and Deutsche Bank. Here are some best practices for banking on your mobile device: By default, apps on your iPhone and iPad should automatically update. Schedule a consultation today, Find a Seacoast Bank branch or ATM near you. The proposed transaction exemplifies Seacoasts M&A focus on consolidation or entry into attractive markets, low concentration risks, and ease of execution that does not distract from its organic growth strategy. Sovereign Rating Announcement | DBRS Morningstar To take advantage of the Text Banking features you need to be enrolled in Seacoast Bank Online Banking. Tap Update next to the Seacoast Mobile Banking app to manually update the app. Direct Deposit Required: Monthly Fee: $0-$15; waivable. Images are available for 18 months regardless of image type or method of deposit. If you would like to find out more information about the foreclosed properties we have for sale, please call the Special Assets Department at 772.221.2933. Select a topic below to find answers to frequently asked questions about your banking account, online and mobile banking, loans, business banking, and more. Commercial accounts receivable should comprise the largest portion of the collateral; while inventory and machinery & equipment can be used as a smaller percentage of the combined assets. All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in the Companys annual report on Form 10-K for the year ended December 31, 2021 under "Special Cautionary Notice Regarding Forward-Looking Statements" and "Risk Factors", and otherwise in the Companys SEC reports and filings. The acquisition increases Seacoast's presence in . Yes, security alerts are event-driven and are sent in real-time when the event occurs. Your password can be changed within online banking and can be updated at any time but only once per day. Online and Mobile Policy | Social Media Terms of Use. **Commercial Accounts Receivables should comprise the largest percentage of the combined assets. " Seacoast Banking Corporation of Florida (SBCF) Q1 2023 Earnings Call As members of the Oviedo. The facility line is determined by the borrowing base of the collateralized assets. Businesses must retain those assets in order to generate new revenue. All 1098s and 1099s are mailed by January 31st. To change your password: You can remove the registration of a computer/browser by deleting your cookies, or only the cookie related to our online site. We also take advantage of the maximum level of security supported by your browser. You can view your credit card account details and statements through the credit card portal here. Alerts can be sent by email, voice, text, push notifications, or secure message within online banking. PDF SBCF 2Q 2021 Earnings Presentation Market Cap: $2.0 billion as of March 31, 2023. Type a symbol or company name. Yes, there are four (4) types of alerts that you can create: Account, History, Online Transactions, and Reminders. Scroll to see pending updates and release notes. Investors and security holders will be able to obtain free copies of the registration statements and the proxy statements/prospectuses (when available) and other documents filed with the SEC by Seacoast through the website maintained by the SEC at http://www.sec.gov. Personal Deposit Accounts | First Seacoast Bank de 20221 ao 3 meses. The cut-off time for same-day RDC credit is 8 pm EST each business day. Fisher Asset Management LLC Purchases Shares of 568,723 Seacoast
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