SOURCE: Seacoast Commerce Bank

Seacoast Commerce Bank

October 30, 2013 19:37 ET

Seacoast Commerce Bank Ranked 9th Largest SBA Lender in the Nation

SAN DIEGO, CA--(Marketwired - Oct 30, 2013) - Seacoast Commerce Bank (OTCQB: SCCB) today announced that it was ranked the 9th largest SBA lender in the nation, as reported by the U.S. Small Business Administration ("SBA"), for their year ended September 30, 2013. Seacoast had 278 business loans approved totaling $217 million in financing, up $65 million, or 42.8%, over 2012 approvals of $152 million, when Seacoast was the 14th largest SBA lender in the nation. 

Seacoast was also ranked the 4th largest SBA lender in California for the year ending September 30, 2013, having provided small business owners more than $106 million in available financing. Year-end results and rankings by district where Seacoast has lending offices are as follows:

District   Rank   Amt. Approved (000)
San Diego   2nd   $20,280
Las Vegas   3rd   16,746
Sacramento   4th   12,702
Phoenix   5th   24,770
Seattle   7th   18,433
Los Angeles   7th   46,659
Houston   9th   17,170
Orange County   12th   14,974
Salt Lake City   13th   7,669
Dallas   14th   13,979
San Francisco   22nd   5,869

David Bartram, Executive Vice President & Chief Operating Officer, commented, "We are very pleased with the results and our continuation of executing on our strategic growth plan. Our niche is our strength, and our staff and systems allow us to consistently close transactions faster than any of our competitors, which is contributing to our success."

Seacoast Commerce Bank is a business bank headquartered in San Diego, California, with offices in San Diego, Chula Vista, Orange County, Los Angeles, Sacramento and San Ramon, California; Phoenix, Arizona; Las Vegas and Reno, Nevada; Dallas and Houston, Texas; Salt Lake City, Utah; and Bellevue, Washington. For more information on the bank please visit our website at or contact Richard M. Sanborn, President & 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 to, risks related to the local and national economy, the Bank's performance and regulatory matters. This press release contains some non-GAAP financial analysis provided to supplement information regarding the Bank's performance, and to enhance investors' overall understanding of such financial performance.

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