Sat, 16 Nov 2019

SAN DIEGO, CA / ACCESSWIRE / June 24, 2019 / Seacoast Commerce Bank, a wholly owned subsidiary of Seacoast Commerce Banc Holdings (OTC PINK: SCBH), today announced that its board of directors has approved an expansion plan whereby the bank will open a full-service branch in Las Vegas, Nevada.

Richard M. Sanborn, President and Chief Executive Officer commented, 'We are very excited about our expansion plans into Nevada. One of the specialty industries we focus on is the property management industry, and the Nevada Department of Real Estate has very specific rules about where property management firms in Nevada can have certain accounts. In essence, you have to have a physical depository branch in Nevada in order to bank parts of that industry. This new branch will allow us to expand our relationship with many existing clients who we currently bank outside of Nevada, and attract many new clients in Nevada who have been asking for us to open a branch there. We expect to have our new location ready to go in the third quarter of 2019, subject to the customary regulatory process.'

About Seacoast Commerce Banc Holdings: Seacoast Commerce Banc Holdings is a bank holding company with one wholly owned banking subsidiary, Seacoast Commerce Bank. Both the holding company and the bank are headquartered in San Diego, California, with the Bank having four full-service banking branches in San Diego and Orange County, California, and loan and deposit production offices throughout Arizona, California, Colorado, Georgia, Illinois, Oregon, Massachusetts, Nevada, Texas, Utah, Virginia and Washington.

For more information on Seacoast Commerce Banc Holdings, please visit www.scbholdings.com; to learn more about Seacoast Commerce Bank, visit www.sccombank.com, or contact Richard M. Sanborn, President and Chief Executive Officer at (858) 432-7001.

Certain statements in this press release, including statements regarding the anticipated development and expansion of the Bank's business, and the intent, belief or current expectations of the Bank, its directors or its officers, are 'forward-looking' statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such 'forward-looking' statements. These risks and uncertainties include, but are not limited too, risks related to the local and national economy, the Bank's performance and regulatory matters.

SOURCE: Seacoast Commerce Bank



View source version on accesswire.com:
https://www.accesswire.com/549560/Seacoast-Commerce-Bank-Announces-Expansion-into-Las-Vegas-Nevada

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