CHULA VISTA, CA--(Marketwire - Mar 23, 2012) - Seacoast Commerce Bank (OTCBB: [ SCCB ]) today announced that the FDIC has approved its applications to open a new full-service branch and relocate its corporate headquarters.

The Bank has leased space in the Bernardo Town Center office complex, located at 11939 Rancho Bernardo Road, San Diego, CA, and intends to open a new full-service branch there, in addition to relocating all of its administrative, SBA, and Homeowners' Association Banking ("HOA") departments to the new location this summer.

Richard M. Sanborn, President & Chief Executive Officer, commented, "We are very excited to open our second branch as it will complement our existing Chula Vista location and better equip us to service the needs of our clients not only in the South Bay, but throughout San Diego County. Our new location also allows us to consolidate all of our support departments into one location. We have been operating at capacity for some time and our anticipated growth plans require significant additional space. After an extensive analysis we have chosen a central location which will support the bank's expansion over the next 7-10 years. Further, the operating efficiencies expected to be achieved by having all of the administrative and support staff under one roof, with nearly double the total space we currently occupy, combined with substantial occupancy expense savings going forward, makes this an attractive and cost effective move for the bank's shareholders."

Seacoast Commerce Bank is a business bank operating in San Diego, California, with loan production offices in San Diego County, Orange County, Los Angeles, Sacramento and San Ramon, California; Bellevue, Washington; Phoenix, Arizona; Dallas, Texas; Salt Lake City, Utah; and Las Vegas, Nevada. For more information on the bank please visit our website at [ www.sccombank.com ] or contact Richard M. Sanborn, President and Chief Executive Officer at 619-409-5762.

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.