Seacoast Bank to open new Southbank branch, expanding Jacksonville presence (Courtesy of the Jacksonville Business Journal) — Just as Seacoast Bank’s initial expansion to Jacksonville “made sense,” in the words of its CEO, adding a branch on the Southbank was the next logical move.
At least, that’s how Jacksonville Market President Allison Bovee (pictured above) described it in a conversation with the Business Journal. The bank aims to grow into its new branch early in quarter one of 2026.
Positioned as a link between downtown Jacksonville and San Marco, the newly announced branch is also located along the city’s medical corridor, a particularly attractive detail for Bovee.
“The Southbank represents a lot of the city’s growth and innovation,” she said.
The incoming branch at 1001 Kings Ave. also brings Seacoast more for its commercial team, which totals 15 people including six commercial bankers. A portion of that team, currently operating out of its Gate Parkway office will move over, she said, with additional plans to hire new bankers.
“We’re really focused on continuing to grow not only our commercial footprint in Jacksonville but also our consumer base,” Bovee said, identifying specific industries like health care, logistics, distribution, professional services and strong commercial real estate projects as priorities.
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 bank’s net income so-far in 2025 — a nine month period ending Sep. 30 — was $121.7 million compared to $91.9 million during the same period next year, according to its quarter three report.
“Strategic investments in high quality bankers have fueled robust loan production and pipeline expansion,” said CEO Charles Shaffer in a statement Monday, “contributing to consistent gains across our diversified revenue streams — including treasury management, wealth management, and insurance agency income.”
Growth for Seacoast arrives just a few weeks after the bank closed its acquisition of Bancorporation Inc., the parent company of Citizens First Bank, for nearly $830 million.
The combined bank positions Seacoast for increased profitability and earnings for the year ahead, Shaffer said. The deal added about $153.3 million in loans and $705.2 million in deposits, along with four branches in Central Florida, per the bank.
“The fundamentals of Jacksonville are very strong,” said Bovee. “We’re excited about this market, we’re very committed to this market and we will continue to invest and grow in this market.”
Photo courtesy of Seacoast Bank