EXHIBIT 99.1
to 8-K dated May 4, 2006
Seacoast Banking Corporation of Florida
NEWS RELEASE
Dennis S. Hudson, III
Chairman and Chief Executive Officer
Seacoast Banking Corporation of Florida
(772) 288-6086
William R. Hahl
Executive Vice President and
Chief Financial Officer
(772) 221-2825
SEACOAST BANKING CORPORATION OF FLORIDA
ANNOUNCES RESULTS OF 2006 ANNUAL MEETING OF SHAREHOLDERS
STUART, FL., May 5, 2006 – Seacoast Banking Corporation of Florida (NASDAQ-NMS: SBCF), a bank holding company whose principal subsidiary is Seacoast National Bank, today announced that, at the Company’s annual shareholders’ meeting yesterday, shareholders re-elected all nominees for directors.
Shareholders also approved an amendment to the Company’s Articles of Incorporation which increased the authorized shares of Common Stock from 22,000,000 shares to 35,000,000, and increased the Company’s total authorized shares of Common Stock and Preferred Stock to 39,000,000. The additional shares of Common Stock will be available to meet business demands, for possible future stock dividends or splits, acquisitions, stock options and awards, and to support the future growth of the Company.
Seacoast Banking Corporation of Florida has approximately $2.5 billion in assets. It is one of the largest independent commercial banking organizations in Florida, with offices from Orlando to Palm Beach, including some of the wealthiest and fastest growing areas of the nation.
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