First Seacoast Bancorp Announces Commencement of Share Offering in Connection with Stage Two Conversion Transaction

DOVER, NH–(BUSINESS WIRE). its offering of common stock in connection with the proposed conversion of First Seacoast Bancorp, MHC from a mutual holding company to a public company.

First Seacoast Bancorp, Inc. is offering up to 3,795,000 common shares for sale at a purchase price of $10.00 per share on a best-effort basis. The shares will be offered for sale to eligible depositors and borrowers of First Seacoast Bank and its employee stock option plan in an offering. All of the common shares not subscribed for in the offering may be offered for sale to the public in a joint offering giving preference to individuals residing in Rockingham and Strafford counties, New Hampshire, and second-ranking public shareholders of First Seacoast Bancorp to Close of business on November 3, 2022.

Any questions regarding the conversion and the offering or requests for offering materials should be directed to the Stock Information Center at 1-(877) 892-9472 (toll free). The Stock Information Center will be open Monday through Friday between 10:00 a.m. and 4:00 p.m. Eastern time beginning November 22, 2022 and ending on December 16, 2022, the scheduled expiry date of the offering. The share information center is closed on public holidays.

First Seacoast Bancorp, Inc. is required to sell at least 2,805,000 shares of its common stock in the stock offering in order to complete the conversion and stock offering. Completion of the Conversion and Share Offering is also subject to receipt of final regulatory approvals, First Seacoast Bancorp stockholder and First Seacoast Bancorp, MHC, member approvals and other customary closing conditions.

Luse Gorman, PC, is acting as legal counsel for First Seacoast Bancorp, Inc., First Seacoast Bancorp, MHC, First Seacoast Bancorp and First Seacoast Bank. Keefe, Bruyette & Woods, Inc., a Stifel company, is acting as marketing agent for First Seacoast Bancorp, Inc. in connection with the stock offering.

About the First Seacoast Bank

First Seacoast Bank is a state chartered savings and loan association serving the financial needs of residents of the Seacoast area of ​​New Hampshire. First Seacoast Bank operates four full service offices in Straford 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 the share offering. Forward-looking statements include statements about expected future events and are identified by the fact that they do not relate exclusively to historical or current facts. They often contain words like “believe,” “expect,” “anticipate,” “estimate,” and “intend,” or future or conditional verbs like “will,” “would,” “should,” “could,” or “may.” . By their nature, forward-looking statements involve risks and uncertainties. Certain factors that could cause actual results to differ materially from anticipated results include that the proposed transaction may not complete in a timely manner, if at all, that necessary regulatory, shareholder and member approvals may not be obtained in a timely manner, or that other customary closing conditions are not met or not met in a timely manner.

Important additional information and where to find it

First Seacoast Bancorp, Inc. has filed a registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”), which also contains a First Seacoast Bancorp proxy statement and a First Seacoast Bancorp, Inc. prospectus, among other pertinent documents Documents related to the Proposed Transaction. SHAREHOLDERS OF FIRST SEACOAST BANCORP ARE URGED URGE TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT AND PROSPECTUS CAREFULLY WHEN SUCH DOCUMENTS ARE AVAILABLE, AND ANY CHANGES OR ADDITIONS TO THESE DOCUMENTS CONTAIN IMPORTANT INFORMATION. Once filed, these documents and other documents related to the Proposed Transaction may be obtained free of charge from the SEC’s website at www.sec.gov. Alternatively, if available, these documents may be obtained free of charge from First Seacoast Bancorp upon written request to First Seacoast Bancorp, 633 Central Avenue, Dover, New Hampshire 03820, attention to James R. Brannen, or by telephone at (603) 742-4680.

participants in the tender

First Seacoast Bancorp and its directors and officers may be deemed participants in the solicitation of powers of attorney in relation to the Proposed Transaction. Information regarding the directors and officers of First Seacoast Bancorp is available in the final proxy statement for the 2022 annual meeting filed with the SEC on April 14, 2022. Additional information regarding the participants in the proxy statement will be contained in the proxy statement, prospectus and other relevant materials filed with the SEC as described above.

This press release is not an offer to sell, or the solicitation of an offer to purchase, the common stock of First Seacoast Bancorp, Inc. The offering is being made solely by prospectus and together with a stock order form. The common stock offered for sale by First Seacoast Bancorp, Inc. are not savings or deposit accounts and are not insured by the Federal Deposit Insurance Corporation or any other governmental agency.

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