All full-time employees at Stuart-based Seacoast Banking Corp. now make at least $14 an hour, the company said Thursday.
The venerable bank — which has operated in Florida since the Great Depression — announced the pay hike during a quarterly earnings call. A sixth of Seacoast’s employees were affected by the raise, said Seacoast CEO Denny Hudson.
Other comments from Hudson:
“The financial impact to Seacoast is minimal, only $250,000. But the impact on our brand and commitment to our communities and to our associates is enormous. As the result of this strong affirmative step, we will be better able to attract and retain qualified associates who are committed to building a career in financial services, and who can deliver the highly customized service that our business model will increasingly require. It is with some pride that I note that Seacoast implemented this program on April 15, two months before J. P. Morgan’s well-publicized similar initiative.”