Seacoast Bank Appoints Chuck Shaffer as Chairman of the Board of Directors

STUART, Fla., Feb. 3, 2022 (GLOBE NEWSWIRE) -- Seacoast Banking Corporation of Florida (NASDAQ: SBCF), one of the largest community banks in Florida, today announced that Charles (Chuck) Shaffer, Seacoast's chief executive officer (CEO), will assume the additional position of Chairman of the Board, effective February 3, 2022. Dennis S. Hudson III, current executive Chairman of the Board and former Chairman of the Board and CEO, will continue to serve on the board; and Christopher E. Fogal will continue to serve as the Board’s Lead Independent Director.

Shaffer said, “On behalf of Seacoast’s Board, our nearly 1,000 associates and the many customers and communities we serve across Florida, we thank Denny for his outstanding leadership over more than four decades. We are pleased our Board will continue to benefit from his deep market expertise and institutional knowledge. With the support of the Board, I look forward to continuing to execute our balanced growth strategy while building on the strong foundation that has led Seacoast to become Florida’s preeminent community bank.”

Hudson said, “Seacoast has performed admirably since Chuck was appointed president and CEO earlier last year. Under his leadership, Seacoast has continued to deliver increasing tangible book value per share, expand its presence, both organically and through acquisitions, and capitalize on Florida’s robust economic expansion by making further investments in commercial banking and technology. The Board’s unanimous decision to elect Chuck as Chairman reflects our confidence in his leadership and marks the last step in our methodical succession plan announced in 2020.”

Hudson added, “I look forward to continuing to serve on our Board, extending my family’s long history with Seacoast, which my grandfather chartered in 1926, and my father and uncle led until I became chairman and CEO in 1992.”