Seacoast Bank Hires Strategic Leadership for Further Market Expansion in Florida

Rhea-AI Summary

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) is strategically expanding its operations into north Florida, appointing Brannon Fitch as executive vice president and regional president for the region. Fitch brings extensive leadership experience from BB&T. Additionally, Tim McLean joins as senior vice president of commercial real estate to lead efforts in Naples, with plans to enhance the bank's presence in this growing market. The company is also bolstering its commercial banking team across Florida, hiring experienced bankers to support growth initiatives.

Positive

• Strategic expansion into north Florida, enhancing market presence.
• Experienced leadership team with Brannon Fitch and Tim McLean expected to drive growth.
• Hiring experienced bankers in multiple regions strengthens commercial banking capabilities.

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• None.

STUART, Fla., Oct. 12, 2021 (GLOBE NEWSWIRE) -- Seacoast Banking Corporation of Florida (NASDAQ: SBCF), one of the largest community banks based in Florida, continues making investments and expanding its footprint across the state with key additions to its leadership and commercial banking team.

The Company announced today that it is expanding its operations to service north Florida. Seacoast has added Brannon Fitch to its leadership team as executive vice president and regional president for north Florida to lead the bank’s strategic expansion into the region. Fitch joins Seacoast after almost two decades of executive leadership experience at BB&T, and will lead Seacoast’s strategic expansion into this important and fast-growing market.

Additionally, Seacoast continues investing in expanding the footprint of its real estate lending division with the addition of Tim McLean as senior vice president of commercial real estate, who brings 33 years of commercial banking experience in the Naples market. McLean most recently served as a senior banker with BB&T. The Company expects to continue expanding into the Naples and Fort Myers markets in the coming periods.

“Expansion into north Florida and the Naples-Fort Myers area is a priority for Seacoast as we continue advancing our commercial banking business in dynamic growth markets,” said President and Chief Executive Officer Chuck Shaffer. “I am confident that, with Brannon’s long history of building high-performing teams across multiple markets with BB&T, he will be successful in bringing together a strong team to deliver outstanding results in north Florida in the coming periods. And with Tim McLean leading our entrance in Naples, Seacoast will expand quickly into this vibrant market,” Shaffer said.

Additionally, Seacoast has continued building its commercial banking team, adding two bankers in Central Florida including Matthew Williams, formerly with JP Morgan Chase, and Ari Sampson, formerly with Regions Bank. In South Florida, the Company added John Bowers, previously with TD Bank. In the Tampa-St. Petersburg market the Company hired Ruth Darretta, formerly with Key Bank, and Andrew McGinnis, formerly with TD Bank. These professionals all demonstrate a history of strong performance, generating growth through consistently winning new banking relationships and delivering exceptional customer experiences.

About Seacoast Banking Corporation of Florida (NASDAQ: SBCF)
Seacoast Banking Corporation of Florida is one of the largest community banks headquartered in Florida, with approximately $9.3 billion in assets and $7.8 billion in deposits as of June 30, 2021. The Company provides integrated financial services, including commercial and retail banking, wealth management, and mortgage services to customers through advanced banking solutions and 52 traditional branches of its locally-branded, wholly-owned subsidiary bank, Seacoast National Bank. Offices stretch from Fort Lauderdale, Boca Raton, and West Palm Beach north through the Daytona Beach area, west to Okeechobee and surrounding counties, into Orlando and Central Florida and west to the Tampa Bay market. More information about the Company is available at www.SeacoastBanking.com.

CONTACT:
Rafael Brazon-Di Fatta
rafael@sachsmedia.com
(786) 567-2791

FAQ

What is the management change at Seacoast Banking Corporation of Florida?

Seacoast has appointed Brannon Fitch as executive vice president and regional president for north Florida, and Tim McLean as senior vice president of commercial real estate.

How will the expansion impact Seacoast Banking Corporation of Florida?

The expansion is expected to enhance Seacoast's market presence in north Florida and boost growth in the Naples and Fort Myers areas.

Who are the new hires in Seacoast's commercial banking team?

Seacoast has added experienced bankers including Matthew Williams, Ari Sampson, John Bowers, Ruth Darretta, and Andrew McGinnis.