Seacoast Banking announces $100M share repurchase pact

Seacoast Banking (SBCF) Corporation of Florida announced that on December 18 its Board of Directors renewed the Company’s share repurchase program, which was set to expire on December 31. Under the renewed repurchase program, which will expire on December 31, the Company may repurchase, from time to time, up to $100M of its shares of common stock, representing approximately 4% of the Company’s outstanding common stock. The repurchase program permits shares to be repurchased in the open market, by block purchase, in privately negotiated transactions, in one or more transactions from time to time, or pursuant to any trading plan adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. Open market purchases will be conducted in accordance with the limitations set forth in Rule 10b-18 of the Exchange Act and other applicable legal and regulatory requirements.