Exhibit 99.1
PRESS RELEASE
Contact:
James R. Brannen
President and Chief Executive Officer
First Seacoast Bancorp
(603)
742-4680
First Seacoast Bancorp Announces Stockholder and Member Approvals for Pending
Conversion Transaction
Dover, NH; December 29, 2022 First Seacoast Bancorp (Nasdaq: FSEA), the holding company for First
Seacoast Bank, announced today that the stockholders of First Seacoast Bancorp and the members of First Seacoast Bancorp, MHC both approved the pending conversion of First Seacoast Bancorp, MHC from mutual to stock form. The approvals were received
at a Special Meeting of Stockholders and a Special Meeting of Members, both held earlier today.
Completion of the conversion and the
related stock offering by First Seacoast Bancorp, Inc., the proposed successor to First Seacoast Bancorp, remains subject to final regulatory approval and the sale of at least 2,805,000 shares of common stock at the minimum of the offering range.
First Seacoast Bancorp intends to close the stock offering at the minimum of the offering range.
About First Seacoast Bank
First Seacoast Bank is a federally-chartered stock savings bank serving the financial needs of residents of the Seacoast region of New
Hampshire. First Seacoast Bank operates four full-service offices in Strafford County, New Hampshire, and one full-service office in Rockingham County, New Hampshire.
Forward-Looking Statements
This press
release contains certain forward-looking statements about the conversion and stock offering. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to
historical or current facts. They often include words such as believe, expect, anticipate, estimate, and intend or future or conditional verbs such as will, would,
should, could, or may. Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include that
the proposed transaction may not be timely completed, if at all, that required regulatory approval is not timely received, if at all, or that other customary closing conditions are not satisfied in a timely manner, if at all.