Completed Southbank branch just one step for Seacoast expansion in Northeast Florida (Courtesy of the Jacksonville Business Journal) — Opening its San Marco-area branch is just one of the cards Seacoast Bank is playing on the First Coast.
The Stuart-headquartered bank views Jacksonville as a strategic market for expansion, leadership confirmed to the Business Journal.
Its newest space at 1001 Kings Ave. spans roughly 7,700 square feet, designed for a mix of collaboration and banking services. In February, the city issued a $400,000 renovation permit to Massachusetts-based Groom Construction Co. on behalf of Seacoast for construction.
“This is a really clear indication of Seacoast’s commitment and investment to the bank’s future in Jacksonville,” Jacksonville Market President Allison Bovee said. “The Jacksonville office represents a celebration of Seacoast history … and long-term commitment to continuing to grow and partner with the community in Jacksonville.”
The city is one of Seacoast’s “most important growth markets,” she told the Business Journal on Monday. Positioned as a link between downtown and San Marco, the newly opened branch is also located along the city’s medical corridor.
Seacoast initially entered Jacksonville in 2023, setting a new northward boundary in its footprint and complete with a commercial lending staff of about 10 and a branch office with four employees. Its Jacksonville headquarters is located at 7880 Gate Parkway.
The newest office on the Southbank stretches its presence further north. Today, its local team totals 15 people, including six commercial bankers. A portion of that team, currently operating out of its Gate Parkway office, will move over, Bovee said, with additional plans to hire new bankers.
North Florida is currently a smaller market for Seacoast, totaling about $131.5 million deposits, as of the latest FDIC data. That equates to approximately 1% of the bank’s statewide deposits, which total $12.5 billion.
“The fundamentals of Jacksonville are very strong,” Bovee said. “We’re excited about this market, we’re very committed to this market and we will continue to invest and grow in this market.”