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Seacoast Banking seeks to increase common shares to 200 million

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Seacoast Banking seeks to increase common shares to 200 million

Seacoast Banking Corp. of Florida's board is proposing to increase the number of the company's authorized common shares to 200 million from 60 million.

The proposal is subject to approval from shareholders at the annual shareholders meeting.

The Stuart, Fla.-based company also disclosed that CEO Dennis Hudson III received a total compensation of about $1.5 million in 2017, while a median employee received $59,455. This brings the company's CEO pay ratio to 25.4 to 1.