BBIF Partners with Seacoast Bank to Aid Small Local Businesses

BBIF has Partnered with Seacoast Bank to Support Small Businesses

ORLANDO, FL. – Seacoast Banking Corporation of Florida (NASDAQ: SBCF) today announced a partnership to support BBIF, a Florida nonprofit Community Development Financial Institution. As part of this partnership, Seacoast will join the BBIF Community Development Committee and the BBIF Small Business Association Credit Underwriting Committee. This partnership reflects Seacoast’s ongoing commitment to the economic health of small businesses.

“We are grateful for our partners at Seacoast Bank and their commitment to supporting small businesses," said Duane Lewis, COO, BBIF. "Their dedication to our organization, not just through grant funding but also through volunteerism, reflects the kind of partnership that helps create lasting opportunities for the entrepreneurs we serve."

At BBIF, we empower and support small businesses through education, training, loans, and investments, helping them achieve long-term success. Seacoast will also provide BBIF with a $60,000 grant to help fund operational expenses, allowing the organization to continue delivering valuable training and financial support to business owners.

“Seacoast is a community bank in every sense of the term, and we’re committed to supporting our neighbors throughout Florida. We are constantly looking for new ways to make a meaningful impact in the communities we serve.” CHARLES SHAFFER President / CEO of Seacoast Bank

As a Community Development Financial Institution, BBIF provides capital, business development, and financial technical assistance to small businesses throughout Florida, helping them grow and succeed. Since its establishment by the Florida Legislature in 1985, this well-regarded institution has issued over 1,061 loans totaling more than $81 million to small businesses that have faced challenges in accessing traditional financing.

About BBIF

Created in 1987, BBIF provides loan capital, financial technical assistance, and business development services to support business owners. As a mission-driven lender, BBIF helps businesses grow by offering capital solutions and specialized guidance tailored to their needs. BBIF is a CDFI (Community Development Financial Institution) and CDE (Community Development Enterprise) certified by the U.S. Department of the Treasury CDFI Fund. The organization is also a Community Advantage and Micro Loan lender certified by the U.S. Small Business Administration, a Money Smart for Small Business collaborator with the Federal Deposit Insurance Corporation (FDIC), and holds an AERIS rating of triple star, A.

Since its inception, BBIF has provided over 1,185 loans totaling $103.6 million and received over $200MM in New Markets Tax Credit (NMTC)  awards, for a leveraged impact of over $625 million in NMTC investments. These efforts have created/retained over 15,000 jobs, while maintaining a historical loan loss rate of 4.08%. Learn more at www.BBIF.com.

About Seacoast Banking Corporation of Florida (NASDAQ: SBCF) Seacoast Banking Corporation of Florida (NASDAQ: SBCF) is one of the largest community banks headquartered in Florida with approximately $9.7 billion in assets and $8.1 billion in deposits as of December 31, 2021. Seacoast provides integrated financial services including commercial and consumer banking, wealth management, and mortgage services to customers at over 50 full-service branches across Florida, and through advanced mobile and online banking solutions. Seacoast National Bank is the wholly-owned subsidiary bank of Seacoast Banking Corporation of Florida. For more information about Seacoast, visit www.SeacoastBanking.com.