SEACOAST BOARD DECLARES INCREASE IN FOURTH QUARTER
DIVIDEND
STUART, FL -- The board of directors
of Seacoast Banking Corporation of Florida (NASDAQ-NMS: SBCFA),
a bank holding company whose subsidiary is First National Bank and
Trust Company of the Treasure Coast, today announced approval of
an 7.7 percent increase in the cash dividends paid on the company's
Class A Common shares. The quarterly dividend will increase to $0.28
from the current $0.26 per share and the indicated annual rate will
increase to $1.12 from $1.04.
The dividend paid on the company's Class B common shares was also increased from $0.236 to $0.254 per share, or from an annualized rate of $0.944 to $1.016.
The dividends are payable on January 2, 2001 to shareholders of record on December 21, 2000.
Seacoast, with assets of $1.1 billion dollars, is the largest commercial bank exclusively serving the communities on Florida's Treasure Coast, one of the wealthiest areas in Florida and among the fastest growing in the nation.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Seacoast's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties.
For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Special Cautionary Notice Regarding Forward-Looking Statements" in the company's most recent Annual Report on Form 10-K.
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