Seacoast Banking Corporation of Florida (NASDAQ: SBCF) (the
“Company” or “Seacoast”) today announced it has hired Austen
Carroll as executive vice president and chief lending officer. In
his newly-created role, Carroll will lead the commercial banking
division at Seacoast. Additionally, Julie Kleffel, the Company’s
current community banking executive and central Florida market
president has been promoted to chief banking officer of the
Company.
“Austen is a well-known and highly-regarded banker in the
Southeast. He has demonstrated tremendous success in his
prior roles and will help accelerate the progression of our
commercial banking business. We see great opportunity ahead and are
thrilled to bring on board a leader with Austen’s talent and
experience,” said Chuck Shaffer, president, and chief operating
officer of Seacoast.
Shaffer added, “Julie has been a key driver of Seacoast’s
balanced growth strategy, delivering growth in new client
acquisition, and enhancing client satisfaction in multiple areas
across the enterprise. We are excited to expand her leadership role
within the organization.”
Before joining Seacoast, Carroll served as chief banking officer
for Ameris Bank where he led commercial banking in the Southeast,
and was based in Jacksonville, Florida. During his tenure at Ameris
Bank, he held a diverse set of roles, significantly contributing to
talent acquisition and robust organic growth. He has almost 20
years of total banking industry experience. Carroll has a bachelor
of business administration degree in finance from Valdosta State
University and is a graduate of the Louisiana State University
Graduate School of Banking.
Kleffel joined the Company following Seacoast’s merger with
BankFirst in 2014. She has held numerous roles for Seacoast,
including leading small business banking, retail banking, and, most
recently, served as community banking executive and central Florida
market president. Kleffel is a graduate of the ABA National and
Graduate Commercial Lending Schools. She completed her
professional education by graduating with distinction from the
American Bankers Association Stonier Graduate School of Banking at
the Wharton School of Business at the University of Pennsylvania in
2009.
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 $7.4 billion in assets and $5.9 billion in deposits
as of March 31, 2020. The Company provides integrated financial
services including commercial and retail banking, wealth
management, and mortgage services to customers through advanced
banking solutions, and 50 traditional branches of its locally
branded, wholly-owned subsidiary bank, Seacoast Bank. Offices
stretch from Fort Lauderdale, Boca Raton, and West Palm Beach north
through the Daytona Beach area, into Orlando and Central Florida
and the adjacent Tampa market, and west to Okeechobee and
surrounding counties. More information about the Company is
available at www.SeacoastBanking.com.
Cautionary Notice Regarding Forward-Looking
StatementsThis press release contains "forward-looking
statements" within the meaning, and protections, of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, including, without limitation, statements
about future financial and operating results, as well as statements
with respect to Seacoast's leadership team and board of directors,
objectives, strategic plans, expectations and intentions and other
statements that are not historical facts, any of which may be
impacted by the COVID-19 pandemic and related effects on the U.S.
economy. Actual results may differ from those set forth in the
forward-looking statements.
Forward-looking statements include statements with respect to
our beliefs, plans, objectives, goals, expectations, anticipations,
assumptions, estimates and intentions about future performance and
involve known and unknown risks, uncertainties and other factors,
which may be beyond our control, and which may cause the actual
results, performance or achievements of Seacoast to be materially
different from future results, performance or achievements
expressed or implied by such forward-looking statements. You should
not expect us to update any forward-looking statements.
All statements other than statements of historical fact could be
forward-looking statements. You can identify these forward-looking
statements through our use of words such as "may", "will",
"anticipate", "assume", "should", "support", "indicate", "would",
"believe", "contemplate", "expect", "estimate", "continue",
"further", "plan", "point to", "project", "could", "intend",
"target" or other similar words and expressions of the future.
These forward-looking statements may not be realized due to a
variety of factors, including, without limitation: the effects of
future economic and market conditions, including seasonality and
the adverse impact of COVID-19 (economic and otherwise);
governmental monetary and fiscal policies, including interest rate
policies of the Board of Governors of the Federal Reserve, as well
as legislative, tax and regulatory changes; changes in accounting
policies, rules and practices, including the impact of the adoption
of CECL; the risks of changes in interest rates on the level and
composition of deposits, loan demand, liquidity and the values of
loan collateral, securities, and interest sensitive assets and
liabilities; interest rate risks, sensitivities and the shape of
the yield curve; uncertainty related to the impact of LIBOR
calculations on securities and loans; changes in borrower credit
risks and payment behaviors; changes in the availability and cost
of credit and capital in the financial markets; changes in the
prices, values and sales volumes of residential and commercial real
estate; our ability to comply with any regulatory requirements; the
effects of problems encountered by other financial institutions
that adversely affect us or the banking industry; our concentration
in commercial real estate loans; the failure of assumptions and
estimates, as well as differences in, and changes to, economic,
market and credit conditions; the impact on the valuation of our
investments due to market volatility or counterparty payment risk;
statutory and regulatory dividend restrictions; increases in
regulatory capital requirements for banking organizations
generally; the risks of mergers, acquisitions and divestitures,
including our ability to continue to identify acquisition targets
and successfully acquire desirable financial institutions; changes
in technology or products that may be more difficult, costly, or
less effective than anticipated; our ability to identify and
address increased cybersecurity risks; inability of our risk
management framework to manage risks associated with our business;
dependence on key suppliers or vendors to obtain equipment or
services for our business on acceptable terms; reduction in or the
termination of our ability to use the mobile-based platform that is
critical to our business growth strategy; the effects of war or
other conflicts, acts of terrorism, natural disasters, health
emergencies, epidemics or pandemics, or other catastrophic events
that may affect general economic conditions; unexpected outcomes of
and the costs associated with, existing or new litigation involving
us; our ability to maintain adequate internal controls over
financial reporting; potential claims, damages, penalties, fines
and reputational damage resulting from pending or future
litigation, regulatory proceedings and enforcement actions; the
risks that our deferred tax assets could be reduced if estimates of
future taxable income from our operations and tax planning
strategies are less than currently estimated and sales of our
capital stock could trigger a reduction in the amount of net
operating loss carryforwards that we may be able to utilize for
income tax purposes; the effects of competition from other
commercial banks, thrifts, mortgage banking firms, consumer finance
companies, credit unions, securities brokerage firms, insurance
companies, money market and other mutual funds and other financial
institutions operating in our market areas and elsewhere, including
institutions operating regionally, nationally and internationally,
together with such competitors offering banking products and
services by mail, telephone, computer and the Internet; and the
failure of assumptions underlying the establishment of reserves for
possible loan losses.
Given the many unknowns and risks being heavily weighted to the
downside, our forward-looking statements are subject to the risk
that conditions will be substantially different than we are
currently expecting. If efforts to contain COVID-19 are
unsuccessful and restrictions on movement last into the third
quarter or beyond, the recession would be much longer and much more
severe. Ineffective fiscal stimulus, or an extended delay in
implementing it, are also major downside risks. The deeper the
recession is, and the longer it lasts, the more it will damage
consumer fundamentals and sentiment. This could both prolong the
recession, and/or make any recovery weaker. Similarly, the
recession could damage business fundamentals. And an extended
global recession due to COVID-19 would weaken the U.S. recovery. As
a result, the outbreak and its consequences, including responsive
measures to manage it, have had and are likely to continue to have
an adverse effect, possibly materially, on our business and
financial performance by adversely affecting, possibly materially,
the demand and profitability of our products and services, the
valuation of assets and our ability to meet the needs of our
customers.
All written or oral forward-looking statements attributable to
us are expressly qualified in their entirety by this cautionary
notice, including, without limitation, those risks and
uncertainties described in our annual report on Form 10-K for the
year ended December 31, 2019 and our quarterly report on Form 10-Q
for the quarter ended March 31, 2020, under "Special Cautionary
Notice Regarding Forward-looking Statements" and "Risk Factors",
and otherwise in our SEC reports and filings. Such reports are
available upon request from the Company, or from the Securities and
Exchange Commission, including through the SEC's Internet website
at www.sec.gov.
Media Contact:Jennifer
Reissman772-463-8947Jennifer.Reissman@seacoastbank.com
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