8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported) January 27, 2022

SEACOAST BANKING CORPORATION OF FLORIDA

(Exact Name of Registrant as Specified in Charter)

Florida	000-13660	59-2260678
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

815 COLORADO AVENUE,	STUART	FL	34994
(Address of Principal Executive Offices)			(Zip Code)

Registrant’s telephone number, including area code (772) 287-4000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.)

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.10 par value	SBCF	Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

SEACOAST BANKING CORPORATION OF FLORIDA

Item 2.02    Results of Operations and Financial Condition

On January 27, 2022, Seacoast Banking Corporation of Florida (“Seacoast” or the “Company”) announced its financial results for the quarter and year ended December 31, 2021. A copy of the press release announcing Seacoast’s results for the quarter and year ended December 31, 2021 is attached hereto as Exhibit 99.1 and incorporated herein by reference.

Item 7.01    Regulation FD Disclosure

On January 28, 2022, Seacoast will hold an investor conference call to discuss its financial results for the quarter and year ended December 31, 2021. Attached as Exhibit 99.2 are charts (available on the Company’s website at www.seacoastbanking.com) containing information used in the conference call and incorporated herein by reference. All information included in the charts is presented as of December 31, 2021, and the Company does not assume any obligation to correct or update said information in the future.

The information in Items 2.02 and 7.01, as well as Exhibits 99.1 and 99.2 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.

Item 9.01    Financial Statements and Exhibits

(d) Exhibits

Exhibit No.	Description
99.1	Press Release dated January 27, 2022, with respect to Seacoast's financial results for the quarter and year ended December 31, 2021
99.2	Data on website containing information used in the conference call to be held on December 31, 2021
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

Exhibits 99.1 and 99.2 referenced herein, contain “forward-looking statements” within the meaning of Section 28A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements about future financial and operating results, cost savings, enhanced revenues, economic and seasonal conditions in our markets, and improvements to reported earnings that may be realized from cost controls, tax law changes, new initiatives and for integration of banks that we have acquired, or expected to acquire, including Florida Business Bank and Sabal Palm Bank, as well as statements with respect to Seacoast's objectives, strategic plans, expectations and intentions and other statements that are not historical facts, any of which may be impacted by the COVID-19 pandemic and related effects on the U.S.economy. Actual results may differ from those set forth in the forward-looking statements.

This press release contains "forward-looking statements" within the meaning, and protections, of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements about future financial and operating results, loan growth, cost savings, enhanced revenues, economic and seasonal conditions in our markets, and improvements to reported earnings that may be realized from cost controls, tax law changes, new initiatives and for integration of banks that we have acquired (including Florida Business Bank and Sabal Palm Bank) or expect to acquire, as well as statements with respect to Seacoast's objectives, strategic plans, expectations and intentions and other statements that are not historical facts, any of which may be impacted by the COVID-19 pandemic and any variants thereof and related effects on the U.S. economy. Actual results may differ from those set forth in the forward-looking statements.

Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates and intentions about future performance and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance or achievements of Seacoast to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. You should not expect us to update any forward-looking statements.

All statements other than statements of historical fact could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may", "will", "anticipate", "assume", "should", "support", "indicate", "would", "believe", "contemplate", "expect", "estimate", "continue", "further", "plan", "point to", "project", "could", "intend", "target" or other similar words and expressions of the future. These forward-looking statements may not be realized due to a variety of factors, including, without limitation: the effects of future economic and market conditions, including seasonality and the adverse impact of COVID-19 (economic and otherwise); governmental monetary and fiscal policies, including interest rate policies of the Board of Governors of the Federal Reserve, as well as legislative, tax and regulatory changes, including those that impact the money supply and inflation; changes in accounting policies, rules and practices, including the impact of the adoption of CECL; our participation in the Paycheck Protection Program ("PPP"); the risks of changes in interest rates on the level and composition of deposits, loan demand, liquidity and the values of loan collateral, securities, and interest sensitive assets and liabilities; interest rate risks, sensitivities and the shape of the yield curve; uncertainty related to the impact of LIBOR calculations on securities and loans; changes in borrower credit risks and payment behaviors; changing retail distribution strategies, customer preferences and behavior; changes in the availability and cost of credit and capital in the financial markets; changes in the prices, values and sales volumes of residential and commercial real estate; our ability to comply with any regulatory requirements; the effects of problems encountered by other financial institutions that adversely affect us or the banking industry; our concentration in commercial real estate loans; inaccuracies or other failures from the use of models, including the failure of assumptions and estimates, as well as differences in, and changes to, economic, market and credit conditions; the impact on the valuation of our investments due to market volatility or counterparty payment risk; statutory and regulatory dividend restrictions; increases in regulatory capital requirements for banking organizations generally; the risks of mergers, acquisitions and divestitures, including our ability to continue to identify acquisition targets, successfully acquire and integrate desirable financial institutions and realize expected revenues and revenue synergies; changes in technology or products that may be more difficult, costly, or less effective than anticipated; our ability to identify and address increased cybersecurity risks; inability of our risk management framework to manage risks associated with our business; dependence on key suppliers or vendors to obtain equipment or services for our business on acceptable terms; reduction in or the termination of our ability to use the mobile-based platform that is critical to our business growth strategy; the effects of war or other conflicts, acts of terrorism, natural disasters, health emergencies, epidemics or pandemics, or other catastrophic events that may affect general economic conditions; unexpected outcomes of and the costs associated with, existing or new litigation involving us; our ability to maintain adequate internal controls over financial reporting; potential claims, damages, penalties, fines and reputational damage resulting from pending or future litigation, regulatory proceedings and enforcement actions; the risks that our deferred tax assets could be reduced if estimates of future taxable income from our operations and tax planning strategies are less than currently estimated and sales of our capital stock could trigger a reduction in the amount of net operating loss carryforwards that we may be able to utilize for income tax purposes; the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions operating in our market areas and elsewhere, including institutions operating regionally, nationally and internationally, together with such competitors offering banking products and services by mail, telephone, computer and the Internet; and the failure of assumptions underlying the establishment of reserves for possible loan losses.

Actual results and capital and other financial conditions may differ materially from those included in these statements due to a variety of factors. These factors include, among others described above, macroeconomic and other challenges and uncertainties related to the COVID-19 pandemic, such as the duration and severity of the impact on public health (including the potential negative impact of various state and local policies enacted as a result of the pandemic and the vaccines’ efficacy against the virus, including new variants),, the U.S. and global economies, financial markets and consumer and corporate customers and clients, including economic activity and employment, as well as the various actions taken in response by governments, central banks and others, including Seacoast, and the precautionary statements included in this release.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 10-K for the year ended December 31, 2020 and quarterly report on Form 10-Q for the quarters ended March 31, 2021, June 30, 2021 and September 30, 2021 under "Special Cautionary Notice Regarding Forward-looking Statements" and "Risk Factors", and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at www.sec.gov.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SEACOAST BANKING CORPORATION OF FLORIDA

(Registrant)

Dated: January 27, 2022	/s/ Tracey L. Dexter
	TRACEY L. DEXTER
	Chief Financial Officer

EX-99.1

SEACOAST REPORTS FOURTH QUARTER AND FULL YEAR 2021 RESULTS

Full Year Net Income of $124.4 Million, Increasing 60% Year-over-Year

Strong Growth in Loan Outstandings and Record Loan Pipelines Highlight Q4 Results

STUART, Fla., January 27, 2022 /GLOBE NEWSWIRE/ -- Seacoast Banking Corporation of Florida ("Seacoast" or the "Company") (NASDAQ: SBCF) today reported net income in the fourth quarter of 2021 of $36.3 million, or $0.62 per diluted share. Fourth quarter 2021 results represent an increase of 58% compared to the third quarter of 2021, and an increase of 24% compared to the fourth quarter of 2020. For the full year 2021, net income was $124.4 million, or $2.18 per diluted share, an increase of 60% compared to the full year 2020. Adjusted net income1 for the fourth quarter of 2021 was $36.9 million, or $0.62 per diluted share. Fourth quarter 2021 adjusted results represent an increase of 26% compared to the third quarter of 2021, and an increase of 20% compared to the fourth quarter of 2020. Adjusted net income1 for the full year 2021 was $135.0 million, or $2.36 per diluted share, an increase of 52% compared to the full year 2020. At December 31, 2021, the ratio of tangible common equity to tangible assets was 11.09%, tangible book value per share was $17.84 and the Tier 1 capital ratio was 17.4%.

For the fourth quarter of 2021, return on average tangible assets was 1.51%, return on average tangible shareholders' equity was 14.29%, and the efficiency ratio was 53.70%, compared to 1.00%, 9.56%, and 59.55%, respectively, in the prior quarter, and 1.49%, 13.87%, and 48.23%, respectively, in the prior year quarter. For the full year 2021, return on average tangible assets was 1.41%, return on average tangible shareholders’ equity was 13.27%, and the efficiency ratio was 55.39%, compared to 1.08%, 10.10%, and 54.84%, respectively for the full year 2020. Adjusted return on average tangible assets1 in the fourth quarter of 2021 was 1.49%, adjusted return on average tangible shareholders' equity1 was 14.11%, and the adjusted efficiency ratio1 was 53.43%, compared to 1.23%, 11.72%, and 51.50%, respectively, in the prior quarter, and 1.50%, 14.00%, and 48.75%, respectively, in the prior year quarter. Adjusted return on average tangible assets1 for the full year 2021 was 1.48%, adjusted return on average tangible shareholders' equity1 was 13.97%, and the adjusted efficiency ratio1 was 52.59%, compared to 1.17%, 10.93%, and 51.63% for the full year 2020.

Charles M. Shaffer, Seacoast's President and CEO, said, "The Seacoast team delivered another outstanding quarter, generating $42.3 million in pre-tax pre-provision earnings and producing 8% annualized loan growth for the quarter. I am particularly proud of our team's continued execution of our strategic priorities, including an ongoing focus on improving our customers' digital experiences and positioning Seacoast as the leading commercial bank in Florida."

Shaffer added, "During the quarter, we continued to recruit both individual bankers and teams from upstream organizations challenged with integrating larger mergers. This high-quality talent is beginning to contribute materially to our pipelines, and we are excited to welcome these bankers to the Seacoast franchise."

Shaffer concluded, "It is an exciting period at Seacoast. Florida's inbound population growth remains strong, and our local economies are continuing to expand at a significant pace. The recruiting pipeline has never been stronger, and in the first quarter, we will introduce our clients to a much improved digital experience. When you put all of this together, in combination with our fortress balance sheet and ample liquidity, it provides confidence that the coming year is primed for disciplined growth."

2022 Acquisitions of Sabal Palm Bancorp, Inc. and Business Bank of Florida Corp.

On January 3, 2022, the Company completed the acquisitions of Sabal Palm Bancorp, Inc, and Business Bank of Florida Corp., providing an entry into the desirable Sarasota market and deepening the Company’s presence in Brevard County, Florida.

1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and for a reconciliation to GAAP.

Financial Results

Income Statement

•Net income was $36.3 million, or $0.62 per diluted share for the fourth quarter of 2021 compared to $22.9 million, or $0.40, for the prior quarter, and $29.3 million, or $0.53, for the prior year quarter. For the year ended December 31, 2021, net income was $124.4 million, or $2.18 per diluted share, compared to $77.8 million, or $1.44, for the year ended December 31, 2020. Adjusted net income1 for the fourth quarter of 2021 was $36.9 million, or $0.62 per diluted share, compared to $29.4 million, or $0.51, for the prior quarter, and $30.7 million, or $0.55, for the prior year quarter. For the year ended December 31, 2021, adjusted net income1 was $135.0 million, or $2.36 per diluted share, compared to $89.0 million, or $1.65, for the year ended December 31, 2020.

•Net revenues were $91.0 million in the fourth quarter of 2021, an increase of $0.6 million, or 1%, compared to the prior quarter, and an increase of $7.3 million, or 9%, compared to the prior year quarter. For the year ended December 31, 2021, net revenues were $346.8 million, an increase of $22.4 million, or 7%, compared to the year ended December 31, 2020. Adjusted revenues1 were $90.6 million in the fourth quarter of 2021, an increase of $0.2 million compared to the prior quarter, and an increase of $6.9 million, or 8.2%, compared to the prior year quarter. For the year ended December 31, 2021, net revenues were $346.6 million, an increase of $23.5 million, or 7%, compared to the year ended December 31, 2020.

•Net interest income totaled $72.3 million in the fourth quarter of 2021, an increase of $1.0 million, or 1%, from the prior quarter, reflecting the benefit of strong organic loan growth, partially offset by lower recognition of fees from slower PPP loan forgiveness. For the year ended December 31, 2021, net interest income was $276.0 million, an increase of $13.3 million, or 5%, compared to the year ended December 31, 2020. As of December 31, 2021, remaining deferred fees on PPP loans total $2.4 million, which will be recognized over the loans' remaining contractual maturity or earlier, as loans are forgiven.

•Net interest margin declined to 3.16% in the fourth quarter of 2021 compared to 3.22% in the third quarter of 2021, driven by lower yields on securities and loans reflective of the rate environment, partially offset by lower levels of excess liquidity and lower cost of deposits. Excluding the effect of PPP and accretion on acquired loans, net interest margin increased two basis points, from 2.89% in the third quarter of 2021 to 2.91% in the fourth quarter of 2021. Securities yields declined two basis points to 1.57% with continued careful deployment of cash into securities purchases. Non-PPP loan yields declined 11 basis points to 4.18%, with a record $408.9 million in commercial loan originations during the fourth quarter of 2021. Offsetting and favorable was the decline in excess liquidity including a strategic decline in brokered deposits, and a further decline in the cost of deposits to only six basis points. The effect on net interest margin of accretion of purchase discounts on acquired loans was an increase of 15 basis points in each of the fourth and third quarters of 2021. The effect on net interest margin of interest and fees on PPP loans was an increase of 10 basis points in the fourth quarter of 2021 compared to an increase of eighteen basis points in the prior quarter.

•Noninterest income totaled $18.7 million in the fourth quarter of 2021, a decrease of $0.3 million, or 2%, compared to the prior quarter, and an increase of $3.8 million, or 25%, compared to the prior year quarter. For the year ended December 31, 2021, noninterest income was $70.7 million, an increase of $9.2 million, or 15%, compared to the year ended December 31, 2020. Results for the fourth quarter of 2021 included the following:

•Interchange revenue was flat compared to the prior quarter at $4.1 million, reflecting strong transactional volume despite the impact of the COVID-19 Omicron variant on spending late in the quarter. Economic conditions in Florida remain strong, and indications of consumer confidence are high.

•Wealth management income was $2.4 million in the fourth quarter, a decrease of $0.2 million compared to the prior quarter. Higher trust-related fees in the prior quarter drove the comparative decline. The wealth management team added $64 million in AUM during the fourth quarter, and $419

1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and for a reconciliation to GAAP.    

million for the full year 2021, ending the year with $1.2 billion in assets under management, a 42% increase compared to the prior year.

•Mortgage banking fees were $2.0 million, compared to $2.5 million in the prior quarter, due to slowing refinance activity and continuing low housing inventory levels.

•SBA gains were $0.2 million compared to $0.8 million in the prior quarter, on lower saleable production.

•Other income increased by $1.1 million in the fourth quarter of 2021, including an increase of $0.7 million in gains from SBIC investments compared to the prior quarter. Amounts recognized on SBIC investments will vary amongst periods. In addition, the sale of a website domain name obtained in a prior bank acquisition resulted in a gain of $0.8 million, which has been removed from the presentation of adjusted net income.

•The Company recognized $0.4 million in losses in the fourth quarter of 2021 on the sale of lower-yielding securities, which were removed from the presentation of adjusted net income.

•The provision for credit losses was a net benefit of $3.9 million in the fourth quarter of 2021, reflecting continued improvement in the economic outlook, compared to a provision of $5.1 million in the prior quarter. The prior quarter included an increase associated with onboarding the Legacy Bank of Florida acquisition.

•Noninterest expense was $50.3 million in the fourth quarter of 2021, a decrease of $5.0 million, or 9%, compared to the prior quarter, and an increase of $6.6 million, or 15%, compared to the prior year quarter. For the year ended December 31, 2021, noninterest expense was $197.4 million, an increase of $11.9 million, or 6%, compared to the year ended December 31, 2020. Changes from the third quarter of 2021 included the following:

•Salaries and wages decreased $2.9 million to $25.0 million, with the prior quarter reflecting $2.6 million in merger-related expenses associated with the Legacy Bank of Florida acquisition.

•Employee benefits increased by $0.6 million to $4.8 million, primarily the result of higher employee health insurance costs.

•Outsourced data processing costs decreased by $0.4 million to $5.2 million, with increases in the prior quarter reflecting expenses related to the acquisition of Legacy Bank of Florida, offset by expenses incurred in the fourth quarter of 2021 preparing for the upgrade of the online and mobile banking platform in the first quarter of 2022.

•Legal and professional fees decreased by $1.7 million to $2.5 million, with the prior quarter reflecting $1.5 million in merger-related expenses.

•Seacoast recorded $8.3 million of income tax expense in the fourth quarter of 2021, compared to $7.0 million in the prior quarter and $8.8 million in the fourth quarter of 2020. A temporary decline in the Florida corporate income tax rate to 3.535% retroactive to January 1, 2021, lowered tax expense by $0.7 million in the fourth quarter of 2021. The tax rate increased to 5.5% effective January 1, 2022, resulting in an additional tax benefit of $0.8 million recognized in the fourth quarter of 2021 upon the adjustment of the value of deferred tax assets affected by the change. Tax benefits related to stock-based compensation totaled $0.6 million in the fourth quarter of 2021, $0.3 million in the third quarter of 2021, and were nominal in the fourth quarter of 2020.

•The ratio of netadjusted noninterest expense1 to average tangible assets was 1.96% in the fourth quarter of 2021, compared to 1.95% in the prior quarter and 2.00% in the fourth quarter of 2020.

•The efficiency ratio was 53.70% in the fourth quarter of 2021, compared to 59.55% in the prior quarter and 48.23% in the prior year quarter. The decrease from the prior quarter primarily reflects the impact of merger related expenses incurred in the prior quarter. The efficiency ratio was 55.39% for the full year 2021 compared to 54.84% for the full year 2020. The adjusted efficiency ratio1 was 53.43% in the fourth quarter of 2021, compared to 51.50% in the prior quarter and 48.75% in the prior year quarter. The adjusted efficiency ratio1 for the full year 2021 was 52.59% compared to 51.63% for the full year 2020.

1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and for a reconciliation to GAAP.    

Balance Sheet

•At December 31, 2021, the Company had total assets of $9.7 billion and totalshareholders' equity of $1.3 billion. Book value per share increased to $22.40 on December 31, 2021 from $22.12 on September 30, 2021, and $20.46 on December 31, 2020. Tangible book value per share of $17.84 on December 31, 2021 increased 10% compared to December 31, 2020.

•Debt securities totaled $2.3 billion on December 31, 2021, an increase of $210.3 million, or 10%, compared to September 30, 2021. Purchases during the fourth quarter of 2021 totaled $431.1 million, consisting primarily of agency-issued collateralized mortgage obligations with an average yield of 1.48% and a duration of 3.2 years. The Company continues to take a prudent and disciplined approach to reinvesting liquidity.

•Loans totaled $5.9 billion on December 31, 2021, an increase of $19.1 million compared to September 30, 2021, inclusive of PPP loans, which declined $99.5 million during the quarter. When excluding the impact of PPP loans, loans outstanding increased $119 million, or 2% from the prior quarter.

•Loan originations were $599.9 million in the fourth quarter of 2021, compared to $744.0 million in the third quarter of 2021, a decrease of 19%. The decline in loan originations was the result of wholesale loans purchased in the prior quarter. Loan originations for the full year 2021 were $2.5 billion, an increase of 20% compared to the prior year.

•Commercial originations were $408.9 million during the fourth quarter of 2021, compared to $331.6 million in the third quarter of 2021, and $277.4 million in the fourth quarter of 2020. The combination of economic expansion and our focus on building the leading commercial bank in Florida contributed to the increase in originations during the quarter.

•Consumer originations in the fourth quarter of 2021 increased to $72.6 million from $66.4 million in the third quarter of 2021 and from $47.5 million in the fourth quarter of 2020. When comparing the fourth quarter of 2021 to the fourth quarter of 2020, consumer originations increased 53%.

•Residential loans originated for sale in the secondary market totaled $69.2 million in the fourth quarter of 2021, compared to $95.1 million in the third quarter of 2021 and $161.6 million in the fourth quarter of 2020. Limited housing inventory and slowing refinance activity contributed to lower production.

•Closed residential loans retained in the portfolio totaled $49.1 million in the fourth quarter of 2021, compared to $250.8 million in the third quarter of 2021, and $54.5 million in the fourth quarter of 2020. The third quarter of 2021 included $180.8 million in opportunistic purchases of high-quality wholesale residential home mortgage loans.

•Pipelines (loans in underwriting and approval or approved and not yet closed) totaled $483.3 million on December 31, 2021, an increase of 1% from September 30, 2021 and an increase of 60% from December 31, 2020.

•Commercial pipelines were $397.8 million as of December 31, 2021, an increase of 8% from $368.9 million at September 30, 2021, and an increase of 139% from $166.7 million at December 31, 2020. We expect commercial production and pipelines to continue to grow as we expand into new markets and add well known commercial bankers across the state.

•Consumer pipelines were $29.7 million as of December 31, 2021, compared to $31.0 million at September 30, 2021, and $18.2 million at December 31, 2020.

•Residential saleable pipelines were $30.1 million as of December 31, 2021, compared to $42.8 million at September 30, 2021, and $92.0 million at December 31, 2020. Retained residential pipelines were $25.6 million as of December 31, 2021, compared to $35.4 million at September 30, 2021, and $25.1 million at December 31, 2020.

•Total deposits were $8.1 billion as of December 31, 2021, a decrease of $266.6 million, or 3%, compared to September 30, 2021, and an increase of $1.1 billion, or 16%, compared to December 31, 2020.

•Total transaction account balances increased $34.1 million, or 1%, quarter-over-quarter, and at December 31, 2021 represent 62% of overall deposit funding.

1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and for a reconciliation to GAAP.    

•Money market deposits decreased by $300 million to $1.7 billion, including a $189 million strategic decrease in brokered deposits. The majority of these brokered deposit balances returned to the balance sheet in January 2022.

•The Company manages excess liquidity on the balance sheet through participation in programs with third-party deposit networks. Through these programs, the Company can offer its customers access to FDIC insurance on large balances with attractive terms, and the Company can retain or sell, on an overnight basis, the underlying deposits. At December 31, 2021, the Company had sold, on an overnight basis, $228 million in deposits compared to $233 million at September 30, 2021, and $113 million at December 31, 2020. These deposits are not included in the consolidated balance sheet.

•The overall cost of deposits declined to six basis points in the fourth quarter of 2021 from seven basis points in the prior quarter.

•As of December 31, 2021, deposits per banking center were $154 million, compared to $138 million on December 31, 2020. Two new branches were opened during the fourth quarter of 2021 in Broward County, one of the fastest growing markets in Florida.

Asset Quality

•Nonperforming loans decreased by $2.0 million to $30.6 million at December 31, 2021. Nonperforming loans to total loans outstanding were 0.52% at December 31, 2021, 0.55% at September 30, 2021, and 0.63% at December 31, 2020.

•Nonperforming assets to total assets were 0.46% at December 31, 2021, 0.47% at September 30, 2021, and 0.59% at December 31, 2020.

•Theratio of allowance for credit losses to total loans was 1.41% at December 31, 2021, 1.49% at September 30, 2021, and 1.62% at December 31, 2020. Excluding PPP loans, the ratio of allowance for credit losses to total loans at December 31, 2021 was 1.43%, compared to 1.54% at September 30, 2021 and 1.79% at December 31, 2020. The decline in coverage reflects continued improvement in the economic outlook and sustained strong portfolio performance.

•Net charge-offs were $0.6 million, or 0.04%, of average loans for the fourth quarter of 2021 compared to $1.4 million, or 0.10%, of average loans in the third quarter of 2021 and $3.1 million, or 0.21%, of average loans in the fourth quarter of 2020. Net charge-offs for the four most recent quarters averaged 0.06%.

•Portfolio diversification, in terms of asset mix, industry, and loan type, has been a critical element of the Company's lending strategy. Exposure across industries and collateral types is broadly distributed. Excluding PPP loans, Seacoast's average commercial loan size is $479 thousand, reflecting an ability to maintain granularity within the overall loan portfolio.

•Construction and land development and commercial real estate loans remain well below regulatory guidance at 21% and 177% of total bank-level risk-based capital, respectively, compared to 21% and 175% respectively, in the third quarter of 2021. On a consolidated basis, construction and land development and commercial real estate loans represent 19% and 162%, respectively, of total consolidated risk-based capital.

Capital and Liquidity

•The tier 1 capital ratio was 17.4% at December 31, 2021, compared to 17.7% at September 30, 2021, and 17.4% at December 31, 2020. The total capital ratio was 18.2% and the tier 1 leverage ratio was 11.7% at December 31, 2021.

•Cash and cash equivalents at December 31, 2021 totaled $737.7 million, a decrease of $490.0 million, or 40%, from September 30, 2021, reflecting the impact of securities purchases and strategic liquidity management activities.

•Tangible common equity to tangible assets was 11.09% at December 31, 2021, compared to 10.62% at September 30, 2021, and 11.01% at December 31, 2020.

1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and for a reconciliation to GAAP.    

•At December 31, 2021, the Company had available unsecured lines of credit of $165.0 million and lines of credit under lendable collateral value of $1.6 billion. Additionally, $1.9 billion of debt securities and $614.2 million of residential and commercial real estate loans are available as collateral for potential borrowings.

1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and for a reconciliation to GAAP.    

FINANCIAL HIGHLIGHTS
(Amounts in thousands except per share data)	(Unaudited)
	Quarterly Trends
	4Q'21			3Q'21			2Q'21			1Q'21			4Q'20
Selected Balance Sheet Data:
Total Assets	$	9,681,433		$	9,893,498		$	9,316,833		$	8,811,820		$	8,342,392
Gross Loans	5,925,029			5,905,884			5,437,049			5,661,492			5,735,349
Total Deposits	8,067,589			8,334,172			7,836,436			7,385,749			6,932,561
Performance Measures:
Net Income	$	36,330		$	22,944		$	31,410		$	33,719		$	29,347
Net Interest Margin	3.16		%	3.22		%	3.23		%	3.51		%	3.59		%
Average Diluted Shares Outstanding	59,016			57,645			55,901			55,992			55,739
Diluted Earnings Per Share (EPS)	$	0.62		$	0.40		$	0.56		$	0.60		$	0.53
Return on (annualized):
Average Assets (ROA)	1.43		%	0.93		%	1.40		%	1.61		%	1.39		%
Average Tangible Assets (ROTA)2	1.51			1.00			1.48			1.70			1.49
Average Tangible Common Equity (ROTCE)2	14.29			9.56			13.88			15.62			13.87
Tangible Common Equity to Tangible Assets2	11.09			10.62			10.43			10.71			11.01
Tangible Book Value Per Share2	$	17.84		$	17.52		$	17.08		$	16.62		$	16.16
Efficiency Ratio	53.70		%	59.55		%	54.93		%	53.21		%	48.23		%
Adjusted Operating Measures1:
Adjusted Net Income	$	36,854		$	29,350		$	33,251		$	35,497		$	30,700
Adjusted Diluted EPS	0.62			0.51			0.59			0.63			0.55
Adjusted ROTA2	1.49		%	1.23		%	1.52		%	1.75		%	1.50		%
Adjusted ROTCE2	14.11			11.72			14.27			16.01			14.00
Adjusted Efficiency Ratio	53.43			51.50			53.49			51.99			48.75
Net Adjusted Noninterest Expense as a Percent of Average Tangible Assets2	1.96			1.95			1.98			2.16			2.00
Other Data:
Market capitalization3	$	2,070,465		$	1,972,784		$	1,893,141		$	2,003,866		$	1,626,913
Full-time equivalent employees	989			995			946			953			965
Number of ATMs	75			72			75			75			77
Full-service banking offices	54			52			48			48			51
Registered online users	136,401			133,977			129,568			126,352			123,615
Registered mobile devices	130,676			126,730			122,815			117,959			115,129
1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP.
2The Company defines tangible assets as total assets less intangible assets, and tangible common equity as total shareholders' equity less intangible assets.
3Common shares outstanding multiplied by closing bid price on last day of each period.

Fourth Quarter and Full Year 2021 Strategic Highlights

Capitalizing on Seacoast’s Early Commitment to Digital Transformation

•Seacoast is utilizing best-in-class technology and our extensive digital competencies to support our growth initiatives. An upgraded online and mobile banking platform, launching in the first quarter of 2022, unifies the user experience with new functionality and features that are consistent across all devices. This new platform will also deliver a range of new digital products and services. Delivering an enhanced digital banking experience for both consumers and businesses complements our exceptional branch, ATM, and telephone banking services to deliver a very competitive value proposition.

•Routine transactions continue to migrate from the branch network to lower cost channels, including to digital offerings and to our recently upgraded ATM network. In the fourth quarter of 2021, 61% of all consumer deposit transactions were completed outside of the branch network, an increase of 10% compared to the same period in 2019.

•Technology continues to help our teams outperform and provide outstanding service to our customers. A significant investment in our digital commercial loan origination platform in 2021 has accelerated our speed to market, providing a quicker renewal process and a streamlined workflow for bankers and underwriters. Customers have also benefited from our automated PPP forgiveness solution integrated with our existing technology infrastructure.

Driving Sustainable Growth and Expanding our Footprint

•Our balanced growth strategy includes organic growth initiatives across the state, including recent entries into Northeast Florida and Naples/Ft. Myers with key additions to our commercial banking leadership and teams. In 2021, we added 20 experienced bankers in the state’s most dynamic and fastest growing markets. We expect to continue to invest in well known seasoned bankers in the coming year.

•Seacoast continues to evolve our branch footprint in order to redirect capacity into attractive growth markets. In alignment with this strategy, four banking center locations were consolidated in 2021, and two new branches opened.

Scaling and Evolving Our Culture

•In 2021, Seacoast customer satisfaction scores exceeded industry benchmarks, a reflection of best-in-class branch and call center customer service experiences. Seacoast index scores were 110% compared to the industry benchmark for branch customer service and 104% compared to the industry benchmark for call center support according to a leading data analytics and consumer intelligence company.

•In November, Seacoast Bank was named one of the Best Banks to Work For in 2021 by American Banker. This is the second consecutive year that Seacoast was selected for this award. In July, Seacoast Bank was named to the Orlando Business Journal’s 2021 Best Places to Work. These distinctions recognize an outstanding leadership team that continually puts its employees first and prioritizes a collaborative and inclusive workplace.

•Seacoast Bank was named among Forbes Magazine’s 2021 America’s Best-In-State Banks and Credit Unions. Seacoast has the distinction of being the only Florida-headquartered community bank to make the list. Forbes partnered with market research firm Statista to survey nearly 25,000 people in the U.S. about their banking relationships. Banks and credit unions were rated on overall recommendations and satisfaction, consumer trust, terms and conditions, branch services, digital services, and financial advice. Only 2.7% of all banks made the list.

OTHER INFORMATION

Conference Call Information

Seacoast will host a conference call on January 28, 2022 at 10:00 a.m. (Eastern Time) to discuss the fourth quarter and full year 2021 earnings results and business trends. Investors may call in (toll-free) by dialing (800) 774-6070 (passcode: 7241 761; host: Charles Shaffer). Charts will be used during the conference call and may be accessed at Seacoast's website at www.SeacoastBanking.com     by selecting "Presentations" under the heading "News/Events." A replay of the call will be available for one month, beginning late afternoon on January 28, 2022, and can be accessed via a link at www.SeacoastBanking.com under the heading “Corporate Information,” using the passcode 50264428.

Alternatively, individuals may listen to the live webcast of the presentation by visiting Seacoast's website at www.SeacoastBanking.com. The link is located in the subsection "Presentations" under the heading “Corporate Information.” Beginning late afternoon on January 28, 2022, an archived version of the webcast can be accessed from this same subsection of the website. The archived webcast will be available for one year.

About Seacoast Banking Corporation of Florida (NASDAQ: SBCF)

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) is one of the largest community banks headquartered in Florida with approximately $9.7 billion in assets and $8.1 billion in deposits as of December 31, 2021. Seacoast provides integrated financial services including commercial and consumer banking, wealth management, and mortgage services to customers at over 50 full-service branches across Florida, and through advanced mobile and online banking solutions. Seacoast National Bank is the wholly-owned subsidiary bank of Seacoast Banking Corporation of Florida. For more information about Seacoast, visit www.SeacoastBanking.com.

Cautionary Notice Regarding Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning, and protections, of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements about future financial and operating results, loan growth, cost savings, enhanced revenues, economic and seasonal conditions in our markets, and improvements to reported earnings that may be realized from cost controls, tax law changes, new initiatives and for integration of banks that we have acquired (including Florida Business Bank and Sabal Palm Bank) or expect to acquire, as well as statements with respect to Seacoast's objectives, strategic plans, expectations and intentions and other statements that are not historical facts, any of which may be impacted by the COVID-19 pandemic and any variants thereof and related effects on the U.S. economy. Actual results may differ from those set forth in the forward-looking statements.

Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates and intentions about future performance and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance or achievements of Seacoast to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. You should not expect us to update any forward-looking statements.

All statements other than statements of historical fact could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may", "will", "anticipate", "assume", "should", "support", "indicate", "would", "believe", "contemplate", "expect", "estimate", "continue", "further", "plan", "point to", "project", "could", "intend", "target" or other similar words and expressions of the future. These forward-looking statements may not be realized due to a variety of factors, including, without limitation: the effects of future economic and market conditions, including seasonality and the adverse impact of COVID-19 (economic and otherwise); governmental monetary and fiscal policies, including interest rate policies of the Board of Governors of the Federal Reserve, as well as legislative, tax and regulatory changes, including those that impact the money supply and inflation; changes in accounting policies, rules and practices, including the impact of the adoption of CECL; our participation in the Paycheck Protection Program ("PPP"); the risks of changes in interest rates on the level and composition of deposits, loan demand, liquidity and the values of loan collateral, securities, and interest

sensitive assets and liabilities; interest rate risks, sensitivities and the shape of the yield curve; uncertainty related to the impact of LIBOR calculations on securities and loans; changes in borrower credit risks and payment behaviors; changing retail distribution strategies, customer preferences and behavior; changes in the availability and cost of credit and capital in the financial markets; changes in the prices, values and sales volumes of residential and commercial real estate; our ability to comply with any regulatory requirements; the effects of problems encountered by other financial institutions that adversely affect us or the banking industry; our concentration in commercial real estate loans; inaccuracies or other failures from the use of models, including the failure of assumptions and estimates, as well as differences in, and changes to, economic, market and credit conditions; the impact on the valuation of our investments due to market volatility or counterparty payment risk; statutory and regulatory dividend restrictions; increases in regulatory capital requirements for banking organizations generally; the risks of mergers, acquisitions and divestitures, including our ability to continue to identify acquisition targets, successfully acquire and integrate desirable financial institutions and realize expected revenues and revenue synergies; changes in technology or products that may be more difficult, costly, or less effective than anticipated; our ability to identify and address increased cybersecurity risks; inability of our risk management framework to manage risks associated with our business; dependence on key suppliers or vendors to obtain equipment or services for our business on acceptable terms; reduction in or the termination of our ability to use the mobile-based platform that is critical to our business growth strategy; the effects of war or other conflicts, acts of terrorism, natural disasters, health emergencies, epidemics or pandemics, or other catastrophic events that may affect general economic conditions; unexpected outcomes of and the costs associated with, existing or new litigation involving us; our ability to maintain adequate internal controls over financial reporting; potential claims, damages, penalties, fines and reputational damage resulting from pending or future litigation, regulatory proceedings and enforcement actions; the risks that our deferred tax assets could be reduced if estimates of future taxable income from our operations and tax planning strategies are less than currently estimated and sales of our capital stock could trigger a reduction in the amount of net operating loss carryforwards that we may be able to utilize for income tax purposes; the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions operating in our market areas and elsewhere, including institutions operating regionally, nationally and internationally, together with such competitors offering banking products and services by mail, telephone, computer and the Internet; and the failure of assumptions underlying the establishment of reserves for possible loan losses.

Actual results and capital and other financial conditions may differ materially from those included in these statements due to a variety of factors. These factors include, among others described above, macroeconomic and other challenges and uncertainties related to the COVID-19 pandemic, such as the duration and severity of the impact on public health (including the potential negative impact of various state and local policies enacted as a result of the pandemic and the vaccines’ efficacy against the virus, including new variants),, the U.S. and global economies, financial markets and consumer and corporate customers and clients, including economic activity and employment, as well as the various actions taken in response by governments, central banks and others, including Seacoast, and the precautionary statements included in this release.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 10-K for the year ended December 31, 2020 and quarterly report on Form 10-Q for the quarters ended March 31, 2021, June 30, 2021 and September 30, 2021 under "Special Cautionary Notice Regarding Forward-looking Statements" and "Risk Factors", and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at www.sec.gov.

FINANCIAL HIGHLIGHTS							(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	Quarterly Trends																Twelve Months Ended
(Amounts in thousands, except ratios and per share data)	4Q'21			3Q'21				2Q'21			1Q'21			4Q'20			4Q'21			4Q'20
Summary of Earnings
Net income	$	36,330		$	22,944			$	31,410		$	33,719		$	29,347		$	124,403		$	77,764
Adjusted net income1	36,854			29,350				33,251			35,497			30,700			134,952			88,950
Net interest income2	72,412			71,455				65,933			66,741			68,903			276,541			263,203
Net interest margin2,3	3.16		%	3.22		%		3.23		%	3.51		%	3.59		%	3.27		%	3.65		%
Performance Ratios
Return on average assets-GAAP basis3	1.43		%	0.93		%		1.40		%	1.61		%	1.39		%	1.33		%	0.99		%
Return on average tangible assets-GAAP basis3,4	1.51			1.00				1.48			1.70			1.49			1.41			1.08
Adjusted return on average tangible assets1,3,4	1.49			1.23				1.52			1.75			1.50			1.48			1.17
Net adjusted noninterest expense to average tangible assets1,3,4	1.96			1.95				1.98			2.16			2.00			2.01			2.19
Return on average shareholders' equity-GAAP basis3	11.06			7.29				10.76			12.03			10.51			10.24			7.44
Return on average tangible common equity-GAAP basis3,4	14.29			9.56				13.88			15.62			13.87			13.27			10.10
Adjusted return on average tangible common equity1,3,4	14.11			11.72				14.27			16.01			14.00			13.97			10.93
Efficiency ratio5	53.70			59.55				54.93			53.21			48.23			55.39			54.84
Adjusted efficiency ratio1	53.43			51.50				53.49			51.99			48.75			52.59			51.63
Noninterest income to total revenue (excluding securities gains/losses)	20.89			21.09				18.94			21.07			17.85			20.53			18.68
Tangible common equity to tangible assets4	11.09			10.62				10.43			10.71			11.01			11.09			11.01
Average loan-to-deposit ratio	70.29			69.97				74.13			81.39			84.48			73.61			88.20
End of period loan-to-deposit ratio	73.84			71.46				69.93			77.48			83.72			73.84			83.72
Per Share Data
Net income diluted-GAAP basis	$	0.62		$	0.40			$	0.56		$	0.60		$	0.53		$	2.18		$	1.44
Net income basic-GAAP basis	0.62			0.40				0.57			0.61			0.53			2.20			1.45
Adjusted earnings1	0.62			0.51				0.59			0.63			0.55			2.36			1.65
Book value per share common	22.40			22.12				21.33			20.89			20.46			22.40			20.46
Tangible book value per share	17.84			17.52				17.08			16.62			16.16			17.84			16.16
Cash dividends declared	0.13			0.13				0.13			—			—			0.39			—
1Non-GAAP measure - see "Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP.
2Calculated on a fully taxable equivalent basis using amortized cost.
3These ratios are stated on an annualized basis and are not necessarily indicative of future periods.
4The Company defines tangible assets as total assets less intangible assets, and tangible common equity as total shareholders' equity less intangible assets.
5Defined as noninterest expense less amortization of intangibles and gains, losses, and expenses on foreclosed properties divided by net operating revenue (net interest income on a fully taxable equivalent basis plus noninterest income excluding securities gains and losses).

CONDENSED CONSOLIDATED STATEMENTS OF INCOME					(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	Quarterly Trends											Twelve Months Ended
(Amounts in thousands, except per share data)	4Q'21		3Q'21			2Q'21		1Q'21		4Q'20		4Q'21		4Q'20
Interest on securities:
Taxable	$	8,574	$	7,775		$	6,559	$	6,298	$	6,477	$	29,206	$	29,718
Nontaxable	139		143			147		148		86		577		454
Fees on PPP loans	3,011		5,218			3,877		5,390		3,603		17,496		7,774
Interest on PPP loans	341		699			1,251		1,496		1,585		3,787		4,201
Interest and fees on loans - excluding PPP loans	61,049		58,507			55,220		55,412		60,407		230,188		242,391
Interest on federal funds sold and other investments	828		867			709		586		523		2,990		2,497
Total Interest Income	73,942		73,209			67,763		69,330		72,681		284,244		287,035
Interest on deposits	711		849			980		1,065		1,228		3,605		6,920
Interest on time certificates	494		583			524		1,187		2,104		2,788		13,365
Interest on borrowed money	448		453			457		468		558		1,826		4,007
Total Interest Expense	1,653		1,885			1,961		2,720		3,890		8,219		24,292
Net Interest Income	72,289		71,324			65,802		66,610		68,791		276,025		262,743
Provision for credit losses	(3,942)		5,091			(4,855)		(5,715)		1,900		(9,421)		38,179
Net Interest Income After Provision for Credit Losses	76,231		66,233			70,657		72,325		66,891		285,446		224,564
Noninterest income:
Service charges on deposit accounts	2,606		2,495			2,338		2,338		2,423		9,777		9,429
Interchange income	4,135		4,131			4,145		3,820		3,596		16,231		13,711
Wealth management income	2,356		2,562			2,387		2,323		1,949		9,628		7,507
Mortgage banking fees	2,030		2,550			2,977		4,225		3,646		11,782		14,696
Marine finance fees	147		152			177		189		145		665		690
SBA gains	200		812			232		287		113		1,531		685
BOLI income	1,295		1,128			872		859		889		4,154		3,561
Other	6,316		5,228			2,249		3,744		2,187		17,537		10,056
	19,085		19,058			15,377		17,785		14,948		71,305		60,335
Securities (losses) gains, net	(379)		(30)			(55)		(114)		(18)		(578)		1,235
Total Noninterest Income	18,706		19,028			15,322		17,671		14,930		70,727		61,570
Noninterest expenses:
Salaries and wages	25,005		27,919			22,966		21,393		21,490		97,283		88,539
Employee benefits	4,763		4,177			3,953		4,980		3,915		17,873		15,544
Outsourced data processing costs	5,165		5,610			4,676		4,468		4,233		19,919		19,053
Telephone / data lines	790		810			838		785		774		3,223		2,984
Occupancy	3,500		3,541			3,310		3,789		3,554		14,140		14,150
Furniture and equipment	1,403		1,567			1,166		1,254		1,317		5,390		5,874
Marketing	1,060		1,353			1,002		1,168		1,045		4,583		4,833
Legal and professional fees	2,461		4,151			2,182		2,582		509		11,376		9,167
FDIC assessments	713		651			515		526		528		2,405		1,268
Amortization of intangibles	1,304		1,306			1,212		1,211		1,421		5,033		5,857
Foreclosed property expense and net (gain) loss on sale	(175)		66			(90)		(65)		1,821		(264)		2,263
Provision for credit losses on unfunded commitments	—		133			—		—		(795)		133		185
Other	4,274		3,984			4,054		4,029		3,869		16,341		15,835
Total Noninterest Expense	50,263		55,268			45,784		46,120		43,681		197,435		185,552
Income Before Income Taxes	44,674		29,993			40,195		43,876		38,140		158,738		100,582
Income taxes	8,344		7,049			8,785		10,157		8,793		34,335		22,818
Net Income	$	36,330	$	22,944		$	31,410	$	33,719	$	29,347	$	124,403	$	77,764
Per share of common stock:
Net income diluted	$	0.62	$	0.40		$	0.56	$	0.60	$	0.53	$	2.18	$	1.44
Net income basic	0.62		0.40			0.57		0.61		0.53		2.20		1.45
Cash dividends declared	0.13		0.13			0.13		—		—		0.39		—
Average diluted shares outstanding	59,016		57,645			55,901		55,992		55,739		57,088		53,930
Average basic shares outstanding	58,462		57,148			55,421		55,271		55,219		56,586		53,502

CONDENSED CONSOLIDATED BALANCE SHEETS					(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	December 31,		September 30,		June 30,		March 31,		December 31,
(Amounts in thousands)	2021		2021		2021		2021		2020
Assets
Cash and due from banks	$	238,750	$	199,460	$	97,468	$	89,123	$	86,630
Interest bearing deposits with other banks	498,979		1,028,235		1,351,377		890,202		317,458
Total Cash and Cash Equivalents	737,729		1,227,695		1,448,845		979,325		404,088
Time deposits with other banks	—		750		750		750		750
Debt Securities:
Available for sale (at fair value)	1,644,319		1,546,155		1,322,776		1,051,396		1,398,157
Held to maturity (at amortized cost)	638,640		526,502		493,467		512,307		184,484
Total Debt Securities	2,282,959		2,072,657		1,816,243		1,563,703		1,582,641
Loans held for sale	31,791		49,597		42,793		60,924		68,890
Loans	5,925,029		5,905,884		5,437,049		5,661,492		5,735,349
Less: Allowance for credit losses	(83,315)		(87,823)		(81,127)		(86,643)		(92,733)
Net Loans	5,841,714		5,818,061		5,355,922		5,574,849		5,642,616
Bank premises and equipment, net	72,404		71,250		69,392		70,385		75,117
Other real estate owned	13,618		13,628		12,804		15,549		12,750
Goodwill	252,154		252,154		221,176		221,176		221,176
Other intangible assets, net	14,845		16,153		14,106		15,382		16,745
Bank owned life insurance	205,041		193,747		158,506		132,634		131,776
Net deferred tax assets	27,321		24,187		21,839		24,497		23,629
Other assets	201,857		153,619		154,457		152,646		162,214
Total Assets	$	9,681,433	$	9,893,498	$	9,316,833	$	8,811,820	$	8,342,392
Liabilities and Shareholders' Equity
Liabilities
Deposits
Noninterest demand	$	3,075,534	$	3,086,466	$	2,952,160	$	2,685,247	$	2,289,787
Interest-bearing demand	1,890,212		1,845,165		1,763,884		1,647,935		1,566,069
Savings	895,019		834,309		811,516		768,362		689,179
Money market	1,651,881		1,951,639		1,807,190		1,671,179		1,556,370
Other time certificates	404,601		437,973		335,370		373,297		425,878
Brokered time certificates	—		20,000		20,000		93,500		233,815
Time certificates of more than $250,000	150,342		158,620		146,316		146,229		171,463
Total Deposits	8,067,589		8,334,172		7,836,436		7,385,749		6,932,561
Securities sold under agreements to repurchase	121,565		105,548		119,973		109,171		119,609
Federal Home Loan Bank borrowings	—		—		—		—		—
Subordinated debt	71,646		71,576		71,506		71,436		71,365
Other liabilities	109,897		91,682		106,571		90,115		88,455
Total Liabilities	8,370,697		8,602,978		8,134,486		7,656,471		7,211,990
Shareholders' Equity
Common stock	5,850		5,835		5,544		5,529		5,524
Additional paid in capital	963,851		959,644		862,598		858,688		856,092
Retained earnings	358,598		329,918		314,584		290,420		256,701
Treasury stock	(10,569)		(10,146)		(10,180)		(8,693)		(8,285)
	1,317,730		1,285,251		1,172,546		1,145,944		1,110,032
Accumulated other comprehensive income, net	(6,994)		5,269		9,801		9,405		20,370
Total Shareholders' Equity	1,310,736		1,290,520		1,182,347		1,155,349		1,130,402
Total Liabilities & Shareholders' Equity	$	9,681,433	$	9,893,498	$	9,316,833	$	8,811,820	$	8,342,392
Common shares outstanding	58,504		58,349		55,436		55,294		55,243

CONSOLIDATED QUARTERLY FINANCIAL DATA							(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
(Amounts in thousands)	4Q'21			3Q'21			2Q'21			1Q'21			4Q'20
Credit Analysis
Net charge-offs - non-acquired loans	$	541		$	198		$	214		$	292		$	3,028
Net charge-offs - acquired loans	29			1,234			441			78			99
Total Net Charge-offs	570			1,432			655			370			3,127
Net charge-offs to average loans - non-acquired loans	0.04		%	0.01		%	0.02		%	0.02		%	0.20		%
Net charge-offs to average loans - acquired loans	—			0.09			0.03			0.01			0.01
Total Net Charge-offs to Average Loans	0.04			0.10			0.05			0.03			0.21
Allowance for credit losses - non-acquired loans	$	64,710		$	64,740		$	64,525		$	66,523		$	69,786
Allowance for credit losses - acquired loans	18,605			23,083			16,602			20,120			22,947
Total Allowance for Credit Losses	$	83,315		$	87,823		$	81,127		$	86,643		$	92,733
Non-acquired loans at end of period	$	4,860,171		$	4,608,801		$	4,290,622		$	4,208,911		$	4,196,205
Acquired loans at end of period	973,751			1,106,481			782,315			870,928			972,183
Paycheck Protection Program loans at end of period1	91,107			190,602			364,112			581,653			566,961
Total Loans	$	5,925,029		$	5,905,884		$	5,437,049		$	5,661,492		$	5,735,349
Non-acquired loans allowance for credit losses to non-acquired loans at end of period	1.33		%	1.40		%	1.50		%	1.58		%	1.66		%
Total allowance for credit losses to total loans at end of period	1.41			1.49			1.49			1.53			1.62
Total allowance for credit losses to total loans, excluding PPP loans	1.43			1.54			1.60			1.71			1.79
Purchase discount on acquired loans at end of period	2.27			2.27			2.98			2.93			2.86
End of Period
Nonperforming loans	$	30,598		$	32,612		$	32,920		$	35,328		$	36,110
Other real estate owned	12,223			11,843			11,019			10,836			10,182
Properties previously used in bank operations included in other real estate owned	1,395			1,785			1,785			4,713			2,569
Total Nonperforming Assets	$	44,216		$	46,240		$	45,724		$	50,877		$	48,861
Accruing troubled debt restructures (TDRs)	$	3,917		$	4,047		$	4,037		$	4,067		$	4,182
Nonperforming Loans to Loans at End of Period	0.52		%	0.55		%	0.61		%	0.62		%	0.63		%
Nonperforming Assets to Total Assets at End of Period	0.46			0.47			0.49			0.58			0.59
	December 31,			September 30,			June 30,			March 31,			December 31,
Loans	2021			2021			2021			2021			2020
Construction and land development	$	230,824		$	227,459		$	234,347		$	227,117		$	245,108
Commercial real estate - owner occupied	1,197,774			1,201,336			1,127,640			1,133,085			1,141,310
Commercial real estate - non-owner occupied	1,736,439			1,673,587			1,412,439			1,438,365			1,395,854
Residential real estate	1,425,354			1,467,329			1,226,536			1,246,549			1,342,628
Commercial and financial	1,069,356			982,552			900,206			860,813			854,753
Consumer	174,175			163,019			171,769			173,910			188,735
Paycheck Protection Program	91,107			190,602			364,112			581,653			566,961
Total Loans	$	5,925,029		$	5,905,884		$	5,437,049		$	5,661,492		$	5,735,349
13Q'21 includes $39 million in Paycheck Protection Program loans acquired from Legacy Bank of Florida.

AVERAGE BALANCES, INTEREST INCOME AND EXPENSES, YIELDS AND RATES 1									(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	4Q'21						3Q'21							4Q'20
	Average				Yield/		Average					Yield/		Average				Yield/
(Amounts in thousands)	Balance		Interest		Rate		Balance			Interest		Rate		Balance		Interest		Rate
Assets
Earning assets:
Securities:
Taxable	$	2,198,517	$	8,574	1.56	%	$	1,971,520		$	7,775	1.58	%	$	1,496,536	$	6,477	1.73	%
Nontaxable	24,664		176		2.85		25,311			181		2.86		25,943		109		1.68
Total Securities	2,223,181		8,750		1.57		1,996,831			7,956		1.59		1,522,479		6,586		1.73
Federal funds sold and other investments	913,867		828		0.36		1,091,997			867		0.31		197,379		523		1.05
Loans excluding PPP loans	5,804,149		61,135		4.18		5,422,350			58,600		4.29		5,276,224		60,497		4.56
PPP loans	136,942		3,352		9.71		281,724			5,917		8.33		629,855		5,187		3.28
Total Loans	5,941,091		64,487		4.31		5,704,074			64,517		4.49		5,906,079		65,684		4.42
Total Earning Assets	9,078,139		74,065		3.24		8,792,902			73,340		3.31		7,625,937		72,793		3.80
Allowance for credit losses	(88,484)						(88,412)							(93,148)
Cash and due from banks	359,287						386,781							235,519
Premises and equipment	72,148						70,667							76,001
Intangible assets	267,692						254,980							238,631
Bank owned life insurance	195,169						164,879							131,208
Other assets	177,431						171,937							162,248
Total Assets	$	10,061,382					$	9,753,734						$	8,376,396
Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing demand	$	1,960,083	$	183	0.04	%	$	1,891,092		$	219	0.05	%	$	1,458,299	$	249	0.07	%
Savings	866,257		63		0.03		842,018			65		0.03		672,864		166		0.10
Money market	1,851,275		465		0.10		1,860,386			565		0.12		1,523,960		813		0.21
Time deposits	595,230		494		0.33		572,661			583		0.40		911,091		2,104		0.92
Securities sold under agreements to repurchase	106,691		30		0.11		120,507			35		0.12		101,665		42		0.16
Federal Home Loan Bank borrowings	—		—		—		—			—		—		15,978		80		1.99
Other borrowings	71,600		418		2.32		71,530			418		2.32		71,321		436		2.43
Total Interest-Bearing Liabilities	5,451,136		1,653		0.12		5,358,194			1,885		0.14		4,755,178		3,890		0.33
Noninterest demand	3,179,798						2,985,582							2,424,523
Other liabilities	126,762						161,411							85,622
Total Liabilities	8,757,696						8,505,187							7,265,323
Shareholders' equity	1,303,686						1,248,547							1,111,073
Total Liabilities & Equity	$	10,061,382					$	9,753,734						$	8,376,396
Cost of deposits					0.06	%						0.07	%					0.19	%
Interest expense as a % of earning assets					0.07	%						0.09	%					0.20	%
Net interest income as a % of earning assets			$	72,412	3.16	%				$	71,455	3.22	%			$	68,903	3.59	%
1On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost.
Fees on loans have been included in interest on loans. Nonaccrual loans are included in loan balances.

AVERAGE BALANCES, INTEREST INCOME AND EXPENSES, YIELDS AND RATES 1							(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	Twelve Months Ended December 31, 2021							Twelve Months Ended December 31, 2020
	Average				Yield/			Average				Yield/
(Amounts in thousands, except ratios)	Balance		Interest		Rate			Balance		Interest		Rate
Assets
Earning assets:
Securities:
Taxable	$	1,839,619	$	29,206	1.59	%		$	1,277,441	$	29,718	2.33	%
Nontaxable	25,369		730		2.88			22,164		570		2.57
Total Securities	1,864,988		29,936		1.61			1,299,605		30,288		2.33
Federal funds sold and other investments	829,328		2,990		0.36			239,494		2,497		1.04
Loans excluding PPP loans	5,369,204		230,552		4.29			5,259,653		242,736		4.62
PPP loans	381,860		21,282		5.57			419,154		11,974		2.86
Total Loans	5,751,064		251,834		4.38			5,678,807		254,710		4.49
Total Earning Assets	8,445,380		284,760		3.37			7,217,906		287,495		3.98
Allowance for credit losses	(88,659)							(81,858)
Cash and due from banks	332,664							142,314
Premises and equipment	71,771							71,846
Intangible assets	249,089							231,267
Bank owned life insurance	156,599							128,569
Other assets	170,210							149,956
Total Assets	$	9,337,054						$	7,860,000
Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing demand	$	1,787,234	$	895	0.05	%		$	1,324,433	$	1,710	0.13	%
Savings	805,816		383		0.05			610,015		849		0.14
Money market	1,765,444		2,327		0.13			1,294,629		4,361		0.34
Time deposits	602,739		2,788		0.46			1,101,321		13,365		1.21
Securities sold under agreements to repurchase	113,881		141		0.12			84,514		283		0.33
Federal Home Loan Bank borrowings	—		—		—			139,439		1,540		1.10
Other borrowings	71,495		1,685		2.36			71,220		2,184		3.07
Total Interest-Bearing Liabilities	5,146,609		8,219		0.16			4,625,571		24,292		0.53
Noninterest demand	2,851,687							2,107,931
Other liabilities	123,446							81,279
Total Liabilities	8,121,742							6,814,781
Shareholders' equity	1,215,312							1,045,219
Total Liabilities & Equity	$	9,337,054						$	7,860,000
Cost of deposits					0.08	%						0.32	%
Interest expense as a % of earning assets					0.10	%						0.34	%
Net interest income as a % of earning assets			$	276,541	3.27	%				$	263,203	3.65	%
1On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost.
Fees on loans have been included in interest on loans. Nonaccrual loans are included in loan balances.

CONSOLIDATED QUARTERLY FINANCIAL DATA					(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	December 31,		September 30,			June 30,		March 31,		December 31,
(Amounts in thousands)	2021		2021			2021		2021		2020
Customer Relationship Funding
Noninterest demand
Commercial	$	2,477,111	$	2,535,922		$	2,431,928	$	2,189,564	$	1,821,361
Retail	458,626		416,779			401,988		379,257		350,783
Public funds	107,523		84,337			88,057		83,315		90,973
Other	32,274		49,428			30,187		33,111		26,670
Total Noninterest Demand	3,075,534		3,086,466			2,952,160		2,685,247		2,289,787
Interest-bearing demand
Commercial	497,466		554,366			545,797		497,047		454,909
Retail	1,144,635		1,069,668			958,619		895,853		839,958
Public funds	248,111		221,131			259,468		255,035		271,202
Total Interest-Bearing Demand	1,890,212		1,845,165			1,763,884		1,647,935		1,566,069
Total transaction accounts
Commercial	2,974,577		3,090,288			2,977,725		2,686,611		2,276,270
Retail	1,603,261		1,486,447			1,360,607		1,275,110		1,190,741
Public funds	355,634		305,468			347,525		338,350		362,175
Other	32,274		49,428			30,187		33,111		26,670
Total Transaction Accounts	4,965,746		4,931,631			4,716,044		4,333,182		3,855,856
Savings	895,019		834,309			811,516		768,362		689,179
Money market
Commercial	732,639		827,901			787,894		692,537		611,623
Retail	840,054		834,628			737,554		701,453		661,311
Brokered	8,007		196,548			187,023		197,389		196,616
Public funds	71,181		92,562			94,719		79,800		86,820
Total Money Market	1,651,881		1,951,639			1,807,190		1,671,179		1,556,370
Brokered time certificates	—		20,000			20,000		93,500		233,815
Other time certificates	554,943		596,593			481,686		519,526		597,341
	554,943		616,593			501,686		613,026		831,156
Total Deposits	$	8,067,589	$	8,334,172		$	7,836,436	$	7,385,749	$	6,932,561
Customer sweep accounts	$	121,565	$	105,548		$	119,973	$	109,171	$	119,609

Explanation of Certain Unaudited Non-GAAP Financial Measures

This presentation contains financial information determined by methods other than Generally Accepted Accounting Principles (“GAAP”). Management uses these non-GAAP financial measures in its analysis of the Company’s performance and believes these presentations provide useful supplemental information, and a clearer understanding of the Company’s performance. The Company believes the non-GAAP measures enhance investors’ understanding of the Company’s business and performance and if not provided would be requested by the investor community. These measures are also useful in understanding performance trends and facilitate comparisons with the performance of other financial institutions. The limitations associated with operating measures are the risk that persons might disagree as to the appropriateness of items comprising these measures and that different companies might define or calculate these measures differently. The Company provides reconciliations between GAAP and these non-GAAP measures. These disclosures should not be considered an alternative to GAAP.

GAAP TO NON-GAAP RECONCILIATION							(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	Quarterly Trends																Twelve Months Ended
(Amounts in thousands, except per share data)	4Q'21			3Q'21				2Q'21			1Q'21			4Q'20			4Q'21			4Q'20
Net Income	$	36,330		$	22,944			$	31,410		$	33,719		$	29,347		$	124,403		$	77,764
Total noninterest income	18,706			19,028				15,322			17,671			14,930			70,727			61,570
Securities losses (gains), net	379			30				55			114			18			578			(1,235)
Gain on sale of domain name (included in other income)	(755)			—				—			—			—			(755)			—
Total Adjustments to Noninterest Income	(376)			30				55			114			18			(177)			(1,235)
Total Adjusted Noninterest Income	18,330			19,058				15,377			17,785			14,948			70,550			60,335
Total noninterest expense	50,263			55,268				45,784			46,120			43,681			197,435			185,552
Merger related charges	(482)			(6,281)				(509)			(581)			—			(7,853)			(9,074)
Amortization of intangibles	(1,304)			(1,306)				(1,212)			(1,211)			(1,421)			(5,033)			(5,857)
Business continuity expenses	—			—				—			—			—			—			(307)
Branch reductions and other expense initiatives	(168)			(870)				(663)			(449)			(354)			(2,150)			(818)
Total Adjustments to Noninterest Expense	(1,954)			(8,457)				(2,384)			(2,241)			(1,775)			(15,036)			(16,056)
Total Adjusted Noninterest Expense	48,309			46,811				43,400			43,879			41,906			182,399			169,496
Income Taxes	8,344			7,049				8,785			10,157			8,793			34,335			22,818
Tax effect of adjustments	280			2,081				598			577			440			3,536			3,635
Effect of change in corporate tax rate on deferred tax assets	774			—				—			—			—			774			—
Total Adjustments to Income Taxes	1,054			2,081				598			577			440			4,310			3,635
Adjusted Income Taxes	9,398			9,130				9,383			10,734			9,233			38,645			26,453
Adjusted Net Income	$	36,854		$	29,350			$	33,251		$	35,497		$	30,700		$	134,952		$	88,950
Earnings per diluted share, as reported	$	0.62		$	0.40			$	0.56		$	0.60		$	0.53		$	2.18		$	1.44
Adjusted Earnings per Diluted Share	0.62			0.51				0.59			0.63			0.55			2.36			1.65
Average diluted shares outstanding	59,016			57,645				55,901			55,992			55,739			57,088			53,930
Adjusted Noninterest Expense	$	48,309		$	46,811			$	43,400		$	43,879		$	41,906		$	182,399		$	169,496
Provision for credit losses on unfunded commitments	—			(133)				—			—			795			(133)			(185)
Foreclosed property expense and net gain / (loss) on sale	175			(66)				90			65			(1,821)			264			(2,263)
Net Adjusted Noninterest Expense	$	48,484		$	46,612			$	43,490		$	43,944		$	40,880		$	182,530		$	167,048
Revenue	$	90,995		$	90,352			$	81,124		$	84,281		$	83,721		$	346,752		$	324,313
Total Adjustments to Revenue	(376)			30				55			114			18			(177)			(1,235)
Impact of FTE adjustment	123			131				131			131			112			516			460
Adjusted Revenue on a fully taxable equivalent basis	$	90,742		$	90,513			$	81,310		$	84,526		$	83,851		$	347,091		$	323,538
Adjusted Efficiency Ratio	53.43		%	51.50		%		53.49		%	51.99		%	48.75		%	52.59		%	51.63		%
Net Interest Income	$	72,289		$	71,324			$	65,802		$	66,610		$	68,791		$	276,025		$	262,743
Impact of FTE adjustment	123			131				131			131			112			516			460
Net Interest Income including FTE adjustment	$	72,412		$	71,455			$	65,933		$	66,741		$	68,903		$	276,541		$	263,203
Total noninterest income	18,706			19,028				15,322			17,671			14,930			70,727			61,570
Total noninterest expense	50,263			55,268				45,784			46,120			43,681			197,435			185,552
Pre-Tax Pre-Provision Earnings	$	40,855		$	35,215			$	35,471		$	38,292		$	40,152		$	149,833		$	139,221
Total Adjustments to Noninterest Income	(376)			30				55			114			18			(177)			(1,235)
Total Adjustments to Noninterest Expense	(1,779)			(8,656)				(2,294)			(2,176)			(2,801)			(14,905)			(18,504)
Adjusted Pre-Tax Pre-Provision Earnings	$	42,258		$	43,901			$	37,820		$	40,582		$	42,971		$	164,561		$	156,490
Average Assets	$	10,061,382		$	9,753,734			$	9,025,846		$	8,485,354		$	8,376,396		$	9,337,054		$	7,860,000
Less average goodwill and intangible assets	(267,692)			(254,980)				(235,964)			(237,323)			(238,631)			(249,089)			(231,267)
Average Tangible Assets	$	9,793,690		$	9,498,754			$	8,789,882		$	8,248,031		$	8,137,765		$	9,087,965		$	7,628,733
Return on Average Assets (ROA)	1.43		%	0.93		%		1.40		%	1.61		%	1.39		%	1.33		%	0.99		%
Impact of removing average intangible assets and related amortization	0.08			0.07				0.08			0.09			0.10			0.08			0.09
Return on Average Tangible Assets (ROTA)	1.51			1.00				1.48			1.70			1.49			1.41			1.08
Impact of other adjustments for Adjusted Net Income	(0.02)			0.23				0.04			0.05			0.01			0.07			0.09
Adjusted Return on Average Tangible Assets	1.49			1.23				1.52			1.75			1.50			1.48			1.17

GAAP TO NON-GAAP RECONCILIATION							(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	Quarterly Trends																Twelve Months Ended
(Amounts in thousands, except per share data)	4Q'21			3Q'21				2Q'21			1Q'21			4Q'20			4Q'21			4Q'20
Average Shareholders' Equity	$	1,303,686		$	1,248,547			$	1,170,395		$	1,136,416		$	1,111,073		$	1,215,312		$	1,045,219
Less average goodwill and intangible assets	(267,692)			(254,980)				(235,964)			(237,323)			(238,631)			(249,089)			(231,267)
Average Tangible Equity	$	1,035,994		$	993,567			$	934,431		$	899,093		$	872,442		$	966,223		$	813,952
Return on Average Shareholders' Equity	11.06		%	7.29		%		10.76		%	12.03		%	10.51		%	10.24		%	7.44		%
Impact of removing average intangible assets and related amortization	3.23			2.27				3.12			3.59			3.36			3.03			2.66
Return on Average Tangible Common Equity (ROTCE)	14.29			9.56				13.88			15.62			13.87			13.27			10.10
Impact of other adjustments for Adjusted Net Income	(0.18)			2.16				0.39			0.39			0.13			0.70			0.83
Adjusted Return on Average Tangible Common Equity	14.11			11.72				14.27			16.01			14.00			13.97			10.93
Loan interest income1	$	64,487		$	64,517			$	60,440		$	62,390		$	65,684		$	251,834		$	254,710
Accretion on acquired loans	(3,520)			(3,483)				(2,886)			(2,868)			(4,448)			(12,757)			(14,977)
Interest and fees on PPP loans	(3,352)			(5,917)				(5,127)			(6,886)			(5,187)			(21,282)			(11,974)
Loan interest income excluding PPP and accretion on acquired loans	$	57,615		$	55,117			$	52,427		$	52,636		$	56,049		$	217,795		$	227,759
Yield on loans1	4.31			4.49				4.33			4.39			4.42			4.38			4.49
Impact of accretion on acquired loans	(0.24)			(0.24)				(0.21)			(0.20)			(0.30)			(0.22)			(0.27)
Impact of PPP loans	(0.13)			(0.22)				0.01			(0.04)			0.11			(0.10)			0.11
Yield on loans excluding PPP and accretion on acquired loans	3.94		%	4.03		%		4.13		%	4.15		%	4.23		%	4.06		%	4.33		%
Net Interest Income1	$	72,412		$	71,455			$	65,933		$	66,741		$	68,903		$	276,541		$	263,203
Accretion on acquired loans	(3,520)			(3,483)				(2,886)			(2,868)			(4,448)			(12,757)			(14,977)
Interest and fees on PPP loans	(3,352)			(5,917)				(5,127)			(6,886)			(5,187)			(21,282)			(11,974)
Net interest income excluding PPP and accretion on acquired loans	$	65,540		$	62,055			$	57,920		$	56,987		$	59,268		$	242,502		$	236,252
Net Interest Margin	3.16			3.22				3.23			3.51			3.59			3.27			3.65
Impact of accretion on acquired loans	(0.15)			(0.15)				(0.14)			(0.15)			(0.23)			(0.15)			(0.21)
Impact of PPP loans	(0.10)			(0.18)				(0.06)			(0.11)			0.01			(0.11)			0.03
Net interest margin excluding PPP and accretion on acquired loans	2.91		%	2.89		%		3.03		%	3.25		%	3.37		%	3.01		%	3.47		%
Security interest income1	$	8,750		$	7,956			$	6,745		$	6,485		$	6,586		$	29,936		$	30,288
Tax equivalent adjustment on securities	(37)			(38)				(39)			(39)			(23)			(153)			(116)
Security interest income excluding tax equivalent adjustment	$	8,713		$	7,918			$	6,706		$	6,446		$	6,563		$	29,783		$	30,172
Loan interest income1	$	64,487		$	64,517			$	60,440		$	62,390		$	65,684		$	251,834		$	254,710
Tax equivalent adjustment on loans	(86)			(93)				(92)			(92)			(89)			(363)			(344)
Loan interest income excluding tax equivalent adjustment	$	64,401		$	64,424			$	60,348		$	62,298		$	65,595		$	251,471		$	254,366
Net Interest Income1	$	72,412		$	71,455			$	65,933		$	66,741		$	68,903		$	276,541		$	263,203
Tax equivalent adjustment on securities	(37)			(38)				(39)			(39)			(23)			(153)			(116)
Tax equivalent adjustment on loans	(86)			(93)				(92)			(92)			(89)			(363)			(344)
Net interest income excluding tax equivalent adjustment	$	72,289		$	71,324			$	65,802		$	66,610		$	68,791		$	276,025		$	262,743
1On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost.

EX-99.2

EARNINGS PRESENTATION FOURTH QUARTER 2021 20 21

2FOURTH QUARTER 2021 EARNINGS PRESENTATION This press release contains “forward-looking statements” within the meaning, and protections, of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements about future financial and operating results, cost savings, enhanced revenues, economic and seasonal conditions in the Company’s markets, and improvements to reported earnings that may be realized from cost controls, tax law changes, new initiatives and for integration of banks that the Company has acquired, or expects to acquire, including Florida Business Bank and Sabal Palm Bank, as well as statements with respect to Seacoast's objectives, strategic plans, expectations and intentions and other statements that are not historical facts, any of which may be impacted by the COVID-19 pandemic and any variants thereof and related effects on the U.S. economy. Actual results may differ from those set forth in the forward-looking statements. Forward-looking statements include statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates and intentions about future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond the Company’s control, and which may cause the actual results, performance or achievements of Seacoast to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. You should not expect the Company to update any forward-looking statements. All statements other than statements of historical fact could be forward-looking statements. You can identify these forward- looking statements through the use of words such as “may”, “will”, “anticipate”, “assume”, “should”, “support”, “indicate”, “would”, “believe”, “contemplate”, “expect”, “estimate”, “continue”, “further”, “plan”, “point to”, “project”, “could”, “intend”, “target” or other similar words and expressions of the future. These forward-looking statements may not be realized due to a variety of factors, including, without limitation: the effects of future economic and market conditions, including seasonality and the adverse effects of COVID-19 (economic and otherwise); government or regulatory responses to the COVID-19 pandemic; governmental monetary and fiscal policies, including interest rate policies of the Board of Governors of the Federal Reserve, as well as legislative, tax and regulatory changes including those that impact the money supply and inflation; changes in accounting policies, rules and practices, including the impact of the adoption of the current expected credit losses (“CECL”) methodology; participation in the Paycheck Protection Program (“PPP”); the risks of changes in interest rates on the level and composition of deposits, loan demand, liquidity and the values of loan collateral, securities, and interest rate sensitive assets and liabilities; interest rate risks, sensitivities and the shape of the yield curve; uncertainty related to the impact of LIBOR calculations on securities, loans and debt; changes in borrower credit risks and payment behaviors; changes in retail distribution strategies, customer preferences and behavior; changes in the availability and cost of credit and capital in the financial markets; changes in the prices, values and sales volumes of residential and commercial real estate; our ability to comply with any regulatory requirements; changes in the prices, values and sales volumes for residential and commercial real estate; our ability to comply with any regulatory requirements; the effects of problems encountered by other financial institutions that adversely affect Seacoast or the banking industry; the Company's concentration in commercial real estate loans and in real estate collateral in Florida; inaccuracies or other failures from the use of models, including the failure of assumptions and estimates, as well as differences in, and changes to, economic, market and credit conditions; the impact on the valuation of Seacoast’s investments due to market volatility or counterparty payment risk; statutory and regulatory dividend restrictions; increases in regulatory Cautionary Notice Regarding Forward-Looking Statements capital requirements for banking organizations generally; the risks of mergers, acquisitions and divestitures, including Seacoast’s ability to continue to identify acquisition targets, successfully acquire and integrate desirable financial institutions, and realize expected revenues and revenue synergies; changes in technology or products that may be more difficult, costly, or less effective than anticipated; the Company's ability to identify and address increased cybersecurity risks, including as a result of employees working remotely; inability of Seacoast’s risk management framework to manage risks associated with the Company's business; dependence on key suppliers or vendors to obtain equipment or services for the business on acceptable terms; reduction in or the termination of Seacoast’s ability to use the mobile-based platform that is critical to the Company's business growth strategy; the effects of war or other conflicts, acts of terrorism, natural disasters, health emergencies, epidemics or pandemics, or other catastrophic events that may affect general economic conditions; unexpected outcomes of and the costs associated with, existing or new litigation involving the Company, including as a result of the Company’s participation in the PPP; Seacoast’s ability to maintain adequate internal controls over financial reporting; potential claims, damages, penalties, fines and reputational damage resulting from pending or future litigation, regulatory proceedings and enforcement actions; the risks that deferred tax assets could be reduced if estimates of future taxable income from the Company's operations and tax planning strategies are less than currently estimated and sales of capital stock could trigger a reduction in the amount of net operating loss carryforwards that the Company may be able to utilize for income tax purposes; the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, non-bank financial technology providers, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions operating in the Company's market areas and elsewhere, including institutions operating regionally, nationally and internationally, together with such competitors offering banking products and services by mail, telephone, computer and the Internet; the failure of assumptions underlying the establishment of reserves for possible loan losses. Actual results and capital and other financial conditions may differ materially from those included in these statements due to a variety of factors. These factors include, among others described above, macroeconomic and other challenges and uncertainties related to the COVID-19 pandemic, such as the duration and severity of the impact on public health, including the potential negative impact of various state and local policies enacted as a result of the pandemic and the vaccines’ efficacy against the virus, including new variants, the U.S. and global economies, financial markets and consumer and corporate customers and clients, including economic activity and employment, as well as the various actions taken in response by governments, central banks and others, including Seacoast, and the precautionary statements included in this release. All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in the Company’s annual report on Form 10-K for the year ended December 31, 2020 and quarterly reports on Form 10-Q for the quarters ended March 31, 2021, June 30, 2021, and September 30, 2021 under “Special Cautionary Notice Regarding Forward-Looking Statements” and “Risk Factors”, and otherwise in the Company’s SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at www.sec.gov.

3FOURTH QUARTER 2021 EARNINGS PRESENTATION • $9.7 billion in assets as of December 31, 2021, operating in the nation’s third-most populous state • Strong presence in Florida’s most attractive markets ▪ #1 Florida-based bank in Orlando MSA ▪ #1 market share in Port St Lucie MSA ▪ #2 Florida-based bank in West Palm Beach/Fort Lauderdale ▪ #2 Florida-based bank in St. Petersburg • Market Cap: $2.1 billion as of December 31, 2021 • Highly disciplined credit portfolio • Strong liquidity position • Prudent capital position to support further organic growth and opportunistic acquisitions • Steady increase in shareholder value with tangible book value per share increasing 10% year-over-year • Active board with a diverse range of experience and expertise Valuable Florida Franchise, Well Positioned for Growth with Strong Capital, Liquidity and Disciplined Credit Culture Seacoast Customer Map JACKSONVILLE MSA WEST PALM BEACH, FORT LAUDERDALE MSA PORT ST LUCIE MSA ORLANDO MSA TAMPA BAY MSA NAPLES MSA

4FOURTH QUARTER 2021 EARNINGS PRESENTATION Florida’s Economic Growth Continues • Companies and individuals seeking lower taxes, warmer weather, and easy flights back to the Northeast are migrating to Florida. • Florida's population grew 14.6% between 2010 and 2020. Double the rate of overall U.S. population growth. Source: US Census data ◦ At over 21.7 million people in 2021, Florida is the third most populous state. Source: US Census data ◦ Florida ranks #1 in net migration in the U.S. for fifth consecutive year. Source: US Census data ◦ Florida’s population grew by over 360,000 in 2020, the equivalent of adding a city larger than Orlando. Source: The Florida Legislature Office of Economic & Demographic Research • Major corporations have relocated or announced plans to relocate some or all of their operations to Florida.

5FOURTH QUARTER 2021 EARNINGS PRESENTATION • Net interest margin declined six basis points to 3.16%. Excluding the effect of PPP and accretion on acquired loans, net interest margin increased two basis points to 2.91%. • Steadily building shareholder value through consistent growth in tangible book value per share, ending the period at $17.84, an increase of 10% over the prior year. • Cost of deposits improved to six basis points. • Assets under management of $1.2 billion at December 31, 2021, a year-over-year increase of 42%. • In January 2022, completed the acquisitions of Sabal Palm Bank and Florida Business Bank, adding $615 million in assets. • Earnings per share of $0.62, an increase of 17% compared to 4Q’20. • Net income of $36.3 million, an increase of 24% compared to 4Q’20. • Adjusted net income1 of $36.9 million, an increase of 20% compared to 4Q’20. • Fourth quarter 2021 annualized loan growth of 8%. • Commercial loan originations increased 23% over the prior quarter and 47% over the prior year to a record $409 million. Record commercial pipeline of $398 million. • Record consumer loan originations of $73 million, increasing 9% from the prior quarter and 53% from the prior year. Fourth Quarter 2021 Highlights 1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP.

6FOURTH QUARTER 2021 EARNINGS PRESENTATION Net Interest Income and Margin ($ in th ou sa nd s) $68,903 $66,741 $65,933 $71,455 $72,412 3.59% 3.51% 3.23% 3.22% 3.16% 3.37% 3.25% 3.03% 2.89% 2.91% Net Interest Income Net Interest Margin NIM, excluding PPP and accretion on acquired loans 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 • Net interest income1 totaled $72.4 million, an increase of $1.0 million, or 1%, from the prior quarter. This included interest and fees earned on PPP loans of $3.4 million, compared to $5.9 million in the prior quarter. • Excluding the effect of PPP and accretion on acquired loans, net interest margin increased two basis points to 2.91%. • Securities yields declined two basis points to 1.57% with continued deployment of excess capital into securities purchases. Non-PPP loan yields declined 11 basis points to 4.18%, with a record $408.9 million in commercial loan originations during the fourth quarter of 2021. • Offsetting and favorable was the decline in excess liquidity including a strategic decline in brokered deposits, and a further decline in the cost of deposits to only six basis points. 1Calculated on a fully taxable equivalent basis using amortized cost.

7FOURTH QUARTER 2021 EARNINGS PRESENTATION Continued Strength in Noninterest Income $14,948 $19,058 $18,330 $2,423 $2,495 $2,606 $3,596 $4,131 $4,135 $1,949 $2,562 $2,356 $3,646 $2,550 $2,030 $113 $812 $200 $2,332 $5,380 $5,708$889 $1,128 $1,295 BOLI Other Income SBA Gains Mortgage Banking Wealth Management Interchange Income Service Charges 4Q'20 3Q'21 4Q'21 $14,930 $19,028 $18,706 $2,423 $2,495 $2,606 $3,596 $4,131 $4,135 $1,949 $2,562 $2,356 $3,646 $2,550 $2,030 $113 $812 $200 $2,314 $5,350 $6,084$889 $1,128 $1,295 BOLI Other Income SBA Gains Mortgage Banking Wealth Management Interchange Income Service Charges 4Q'20 3Q'21 4Q'21 Adjusted Noninterest Income1 ($ in thousands) 2 3 Noninterest Income ($ in thousands) Noninterest income declined $0.3 million from the prior quarter to $18.7 million, and adjusted noninterest income1 declined $0.7 million to $18.3 million. Changes on an adjusted basis include: • Wealth management income was $2.4 million in the fourth quarter, a decrease of $0.2 million compared to the prior quarter. Higher trust-related fees in the prior quarter drove the comparative decline. Wealth management ended the year with $1.2 billion in assets under management, a 42% increase compared to prior year. • Mortgage banking fees were $2.0 million, compared to $2.5 million in the prior quarter, due to slowing refinance activity and continuing low housing inventory levels. • SBA gains were $0.2 million compared to $0.8 million in the prior quarter, on lower saleable production. • Other income increased by $0.3 million in the fourth quarter of 2021, including an increase of $0.7 million in gains from SBIC investments. Amounts recognized on SBIC investments will vary amongst periods. • Excluded from adjusted noninterest income is $0.8 million recognized on the sale of a website domain name obtained in a prior bank acquisition. 1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP. 2Other Income includes income and gains on SBIC investments, marine finance fees, a gain on the sale of a website domain name obtained in a prior bank acquisition, and other fees related to customer activity as well as securities losses of $184 thousand in 4Q’20, $30 thousand in 3Q'21 and $379 thousand in 4Q'21. 3Other Income on an adjusted basis includes income and gains on SBIC investments, marine finance fees, and other fees related to customer activity.

8FOURTH QUARTER 2021 EARNINGS PRESENTATION $41,906 $46,811 $48,309 $25,060 $28,691 $29,766 $4,265 $4,657 $5,157$5,629 $5,441 $5,546 $496 $2,131 $2,049 $6,456 $5,891 $5,791 Other Expense Legal & Professional Occupancy & Telephone Data Processing Cost Salaries & Benefits 4Q'20 3Q'21 4Q'21 $43,681 $55,268 $50,263 $25,405 $32,096 $29,768 $1,421 $1,306 $1,304 $4,233 $5,610 $5,165$5,645 $5,918 $5,693 $509 $4,151 $2,461 $6,468 $6,187 $5,872 Other Expense Legal & Professional Occupancy & Telephone Data Processing Cost Amortization of Intangibles Salaries & Benefits 4Q'20 3Q'21 4Q'21 Continued Focus on Disciplined Expense Control Adjusted Noninterest Expense1 ($ in thousands) 2 2 Noninterest Expense ($ in thousands) Noninterest expense decreased $5.0 million and adjusted noninterest expense1 increased $1.5 million sequentially. Changes quarter-over-quarter on an adjusted basis include: • Salaries and benefits increased $1.1 million to $29.8 million, primarily the result of investments in commercial banking talent and higher production-related incentives. • Data processing costs increased by $0.5 million, which includes expenses incurred as we prepare to launch a new online and mobile banking platform in the first quarter of 2022. 1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP. 2Other Expense includes marketing expenses, provision for credit losses on unfunded commitments, foreclosed property expense and net loss/(gain) on sale, and other expenses associated with ongoing business operations.

9FOURTH QUARTER 2021 EARNINGS PRESENTATION Palm Beach Community Bank and North Star Bank Acquisitions Pa lm B ea ch C om m un ity a nd N or th S ta r Ba nk A cq ui si tio n Efficiency Ratio Trend 66% 57% 53% 49% 48% 60% 50% 62% 48% 53% 55% 60% 54% 4Q '18 1Q '19 2Q '19 3Q '19 4Q '19 1Q '20 2Q '20 3Q '20 4Q '20 1Q '21 2Q '21 3Q '21 4Q '21 54% 56% 51% 49% 48% 54% 50% 55% 49% 52% 53% 51% 53% 4Q '18 1Q '19 2Q '19 3Q '19 4Q '19 1Q '20 2Q '20 3Q '20 4Q '20 1Q '21 2Q '21 3Q '21 4Q '21 GAAP - Efficiency Adjusted - Efficiency1 First Bank of the Palm Beaches First Green Bank Freedom Bank Legacy Bank of Florida • The efficiency ratio was 53.7% for the fourth quarter of 2021 compared to 59.5% in the prior quarter and 48.2% in the fourth quarter of 2020. Increases in the third quarter of 2021 reflect higher expenses resulting from the acquisition of Legacy Bank of Florida. • The adjusted efficiency ratio1 was 53.4% for the fourth quarter of 2021 compared to 51.5% in the prior quarter and 48.8% in the fourth quarter of 2020. 1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP.

10FOURTH QUARTER 2021 EARNINGS PRESENTATION Ron York joins as Treasury Management Executive Previously with First Horizon 4Q 2020 Chris Rolle joins as West FL Regional Market President, formerly Director of Middle Market Banking at Synovus and Central FL Market President at BB&T Building Florida’s Leading Commercial Bank Dan Hilken joins as Central FL Regional Market President with a 30- year career, most recently with Wells Fargo Austen Carroll joins as Chief Lending Officer Previously Chief Banking Officer at Ameris Pam Notarantonio joins as Central FL Regional Credit Officer after 32 years with Wells Fargo James Norton joins as CRE Director, formerly Executive Director of Real Estate Banking at JPMorgan Chase Brannon Fitch formerly of BB&T, joins as Northeast FL Market President leading strategic geographic expansion Growth continues in Central FL Four bankers join in Orlando and Lakeland (JPMorgan Chase, Regions, TD Bank, Wells Fargo) 3Q 2020 1Q 2021 2Q 2021 3Q 2021 1Q 2022 4Q 2021 South Florida expansion continues Six bankers join in Palm Beach and Broward counties (TD Bank and Legacy Bank) West and North Florida expansion continues Eight bankers join to date in 2022 in Jacksonville, Naples, St. Pete (BB&T)

11FOURTH QUARTER 2021 EARNINGS PRESENTATION Seacoast's Lending Strategy Produced and Sustains a Diverse Loan Portfolio Commercial Real Estate - Owner Occupied $1,197,774 20% Construction and Land Development $230,824 4% Paycheck Protection Program $91,107 2% Consumer $174,175 3% Commercial & Financial $1,069,356 18% Commercial Real Estate - Non-Owner Occupied $1,736,439 29% Residential Real Estate $1,425,354 24% At December 31, 2021 ($ in thousands) The Company remains focused and committed to its strict credit underwriting standards. Construction and land development and commercial real estate loans, as defined in regulatory guidance, represent 19% and 162%, respectively, of total consolidated risk based capital. Portfolio diversification in terms of asset mix, industry, and loan type, has been a critical element of the Company’s lending strategy. Exposure across industries and collateral types is broadly distributed. Excluding PPP loans, Seacoast’s average commercial loan size is $479 thousand.

12FOURTH QUARTER 2021 EARNINGS PRESENTATION Disciplined Approach to Lending in an Expanding Florida Economy $5,735 $5,661 $5,437 $5,906 $5,925 $5,168 $5,079 $5,073 $5,715 $5,834 $567 $582 $364 $191 $91 4.42% 4.39% 4.33% 4.49% 4.31% 4.23% 4.15% 4.13% 4.03% 3.94% Yield Excluding PPP and Accretion on Acquired Loans Reported Yield PPP Loans Loans Excluding PPP 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 Total Loans Outstanding ($ in millions) Loans outstanding, excluding PPP, increased $119 million quarter-over-quarter, an annualized increase of 8%. Commercial loan originations increased 23% to $409 million, and the commercial pipeline increased 8% to $398 million. Consumer loan originations grew 9% to a record $73 million. The yield on non-PPP loans declined to 4.18% from 4.29% in the third quarter of 2021, and when further excluding accretion on acquired loans, declined to 3.94% from 4.03%.

13FOURTH QUARTER 2021 EARNINGS PRESENTATION Paycheck Protection Program Loans ($ in m ill io ns ) $576 $295 ($778) $93 December 31, 2020 Originations and Acquisitions Forgiveness December 31, 2021 PPP Fee Revenue Summary (in thousands) Fees earned from SBA to date (net of related costs) to originate PPP loans $ 27,641 Fees recognized in 2020 (7,774) Fees recognized in 2021 (17,496) Fees remaining to be recognized in future periods $ 2,371 5,169 loans $9.5 deferred fees 3,201 loans 7,423 loans 947 loans $2.4 deferred fees PPP Loans Rollforward As of December 31, 2021, $2.4 million in fees remain that will be recognized over the loans’ remaining contractual maturity, or earlier, as loans are forgiven.

14FOURTH QUARTER 2021 EARNINGS PRESENTATION Unrealized Gain (Loss) in Securities as of December 31, 2021 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value Available for Sale Government backed $ 6,466 $ 316 $ (3) $ 6,779 Agency mortgage backed 1,234,721 8,308 (20,309) 1,222,720 Private label MBS and CMOs 88,096 1,091 (420) 88,767 CLO 292,751 63 (124) 292,690 Municipal 31,624 1,740 (1) 33,363 Total Available for Sale $ 1,653,658 $ 11,518 $ (20,857) $ 1,644,319 Held to Maturity Agency mortgage backed $ 638,640 $ 3,828 $ (15,070) $ 627,398 Total Held to Maturity $ 638,640 $ 3,828 $ (15,070) $ 627,398 Total Securities $ 2,292,298 $ 15,346 $ (35,927) $ 2,271,717 ($ in m ill io ns ) $184 $527 $639 $1,398 $1,546 $1,644 1.73% 1.59% 1.57% HTM Securities AFS Securities Yield 4Q'20 3Q'21 4Q'21 Investment Securities Performance and Composition • Portfolio yield declined two basis points to 1.57% from 1.59% in the prior quarter. • AFS securities ended the year with a net unrealized loss of $9.3 million compared to an unrealized gain of $6.6 million at September 30, 2021, largely due to the steepening of the yield curve during the fourth quarter. • Net additions of approximately $210 million were primarily Agency CMOs with a weighted average duration of 3.2 and weighted average yield of 1.48%. • AFS portfolio duration declined to 3.06 from 3.16 in the prior quarter.

15FOURTH QUARTER 2021 EARNINGS PRESENTATION Strong Deposit Franchise Supported by Attractive Markets $6,933 $7,386 $7,836 $8,334 $8,068 $3,856 $4,333 $4,716 $4,932 $4,966 $2,246 $2,440 $2,618 $2,785 $2,547 $831 $613 $502 $617 $555 Transaction Accounts Savings & Money Market Time Deposits 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 62% Deposits Outstanding ($ in millions) Total deposits decreased $266 million quarter-over- quarter, primarily reflecting strategic outflows in brokered money market deposits, which returned to the balance sheet in January 2022. Transaction accounts increased 29% year-over-year and represent 62% of overall deposit funding. At December 31, 2021, $228 million in customer deposits are being held off-balance sheet through programs with third-party deposit networks. This compares to $233 million at September 30, 2021, and $113 million at December 31, 2020.

16FOURTH QUARTER 2021 EARNINGS PRESENTATION Continued Branch Optimization While Maintaining Low Cost of Deposits ($ in m ill io ns ) Trended Cost of Deposits and Deposits per Branch $116 $118 $135 $138 $138 $156 $166 $165 $154 1.75% 0.25% 0.25% 0.25% 0.25% 0.25% 0.25% 0.25% 0.25% 0.61% 0.57% 0.31% 0.24% 0.19% 0.13% 0.08% 0.07% 0.06% Cost of Deposits Fed Funds Deposits per branch 4Q'19 1Q'20 2Q'20 3Q'20 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 1Includes customer deposits held off-balance sheet through programs with third-parties. 1 Continued focus on organic growth and relationship-based funding, in combination with our innovative analytics platform, supports a well-diversified, low-cost deposit portfolio. Consistently low cost of deposits reflects the significant value of the deposit franchise. Seacoast continues to evolve its branch footprint by redirecting capacity to attractive growth markets, and has consolidated 27% of branches since 2017. During the quarter, two new branches were opened in Broward County, expanding our presence in the 7th largest MSA in the country. As of December 31, 2021, deposits per banking center were $154 million, a one-year increase of 12% and two-year increase of 33%. The decline from the third quarter of 2021 is due to the addition of two new branches and declines in brokered deposits.

17FOURTH QUARTER 2021 EARNINGS PRESENTATION A Continued Focus on Building Wealth Management $653 $870 $1,239 4Q'19 4Q'20 4Q’21 Assets Under Management ($ in millions) 33% CAG R Assets under management totaled $1.2 billion at December 31, 2021 increasing 42% from December 31, 2020. This is a result of the wealth management team’s continuing success at winning business with commercial relationships and high net worth families across the footprint. Wealth management income was $2.4 million in the fourth quarter of 2021, compared to $2.6 million in the prior quarter, and $1.9 million in the prior year quarter. Since December 31, 2019, assets under management have increased at a compound annual growth rate (“CAGR”) of 33%.

18FOURTH QUARTER 2021 EARNINGS PRESENTATION The total allowance for credit losses of $83.3 million as of December 31, 2021 represents management’s estimate of lifetime expected credit losses. The remaining unrecognized discount on acquired loans of $23.1 million will be earned as an adjustment to yield over the life of the loans. Additionally, a reserve for potential credit losses on lending-related commitments of $2.3 million is reflected within Other Liabilities. Allowance for Credit Losses and Purchase Discount ($ in thousands) Loans Outstanding Allowance for Credit Losses % of Category Purchase Discount % of Category Construction and Land Development $ 230,824 $ 2,751 1.19 % $ 500 0.22 % Owner Occupied Commercial Real Estate 1,197,774 8,578 0.72 3,850 0.32 Commercial Real Estate 1,736,439 36,618 2.11 13,251 0.76 Residential Real Estate 1,425,354 12,811 0.90 1,610 0.11 Commercial & Financial 1,069,356 19,744 1.85 3,776 0.35 Consumer 174,175 2,813 1.62 77 0.04 Total Excluding PPP $ 5,833,922 $ 83,315 1.43 % $ 23,064 0.40 % Paycheck Protection Program $ 91,107 $ — — % $ 13 0.01 % Total $ 5,925,029 $ 83,315 1.41 % $ 23,077 0.39 %

19FOURTH QUARTER 2021 EARNINGS PRESENTATION Continued Strong Asset Quality Trends Net Charge-Offs $3,127 $370 $655 $1,432 $570 0.21% 0.03% 0.05% 0.10% 0.04% NCO NCO/Total Loans 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 Nonperforming Loans $36,110 $35,328 $32,920 $32,612 $30,598 0.63% 0.62% 0.61% 0.55% 0.52% NPL NPL/Total Loans 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 $92,733 $86,643 $81,127 $87,823 $83,315 1.79% 1.71% 1.60% 1.54% 1.43% 1.62% 1.53% 1.49% 1.49% 1.41% ACL ACL/Total Loans Excluding PPP ACL/Total Loans 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 9% 9% 7% 10% 9% 7% 7% 6% 4% 4% Classified Special Mention 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 Allowance for Credit Losses ($ in thousands) Criticized Loans as a % of Risk-Based Capital

20FOURTH QUARTER 2021 EARNINGS PRESENTATION Strong Capital Supporting a Fortress Balance Sheet $16.16 $16.62 $17.08 $17.52 $17.84 $20.46 $20.89 $21.33 $22.12 $22.40 Tangible Book Value Per Share Book Value Per Share 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 11.0% 10.7% 10.4% 10.6% 11.1% 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 18.5% 19.1% 19.2% 18.6% 18.2%17.4% 18.1% 18.3% 17.7% 17.4% Total Risk Based Capital Tier 1 Ratio 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 13.9% 15.6% 13.9% 9.6% 14.3%14.0% 16.0% 14.3% 11.7% 14.1% GAAP - ROTCE Adjusted - ROTCE 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP. 2FDICIA defines well capitalized as 10.0% for total risk based capital and 8.0% for Tier 1 ratio at a total Bank level. Tangible Book Value and Book Value Per Share Tangible Common Equity / Tangible Assets Total Risk Based and Tier 1 CapitalReturn on Tangible Common Equity 1 10.0%2 8.0%2

21FOURTH QUARTER 2021 EARNINGS PRESENTATION Steady Increase in Shareholder Value $10.41 $10.55 $10.95 $11.15 $11.39 $11.67 $12.01 $12.33 $12.98 $13.65 $14.30 $14.76 $14.42 $15.11 $15.57 $16.16 $16.62 $17.08 $17.52 $17.84 1Q'17 2Q'17 3Q'17 4Q'17 1Q'18 2Q'18 3Q'18 4Q'18 1Q'19 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 3Q'20 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 • Compounded annual growth rate of 12% in tangible book value per share since the first quarter of 2017. • The decline in tangible book value per share during the first quarter of 2020 was primarily attributed to the Day-1 impact of the adoption of CECL. • Initiated a quarterly cash dividend of $0.13 in the second quarter of 2021.

Tracey L. Dexter Executive Vice President Chief Financial Officer (772) 403-0461 INVESTOR RELATIONS NASDAQ: SBCF

23FOURTH QUARTER 2021 EARNINGS PRESENTATION Appendix

24FOURTH QUARTER 2021 EARNINGS PRESENTATION Quarterly Trend Twelve Months Ended (Amounts in thousands) 4Q'21 3Q'21 2Q'21 1Q'21 4Q'20 4Q'21 4Q'20 Commercial pipeline at period end $ 397,822 $ 368,907 $ 322,014 $ 240,871 $ 166,735 397,822 166,735 Commercial loan originations1 408,948 331,618 193,028 204,253 277,389 1,137,847 655,821 Residential pipeline-saleable at period end 30,102 42,847 60,585 92,141 92,017 30,102 92,017 Residential loans-sold 69,224 95,136 120,099 138,337 161,628 422,796 509,420 Residential pipeline-portfolio at period end 25,589 35,387 54,132 72,448 25,083 25,589 25,083 Residential loans-retained2 49,065 250,820 118,126 46,620 54,464 464,631 129,183 Consumer pipeline at period end 29,739 30,980 31,748 28,127 18,207 29,739 18,207 Consumer originations 72,626 66,400 63,702 46,745 47,529 249,473 219,294 PPP originations — — 23,529 232,478 — 256,007 598,994 Total Pipelines at Period End $ 483,252 $ 478,121 $ 468,479 $ 433,587 $ 302,042 $ 483,252 $ 302,042 Total Originations $ 599,863 $ 743,974 $ 518,484 $ 668,433 $ 541,010 $ 2,530,754 $ 2,112,712 1Includes purchases of $19.3 million in 4Q’21 and $17.1 million in 3Q’21. 2Includes purchases of $180.8 million in 3Q'21 and $38.4 million in 2Q’21. Loan Production and Pipeline Trend

25FOURTH QUARTER 2021 EARNINGS PRESENTATION January 2022 Acquisition of Business Bank of Florida, Corp. Balances Prior to Acquisition (Excludes Purchase Accounting and Fair Value Adjustments) (In thousands) December 31, 2021 Selected Assets: Cash and equivalents $ 38,297 Loans by segment: Construction and land development 9,245 Commercial real estate - owner-occupied 45,290 Commercial real estate - non owner-occupied 51,546 Residential real estate 5,368 Commercial and financial 10,146 Consumer 60 PPP loans 1,923 Total loans $ 123,578 Selected Liabilities: Noninterest bearing deposits $ 75,038 Interest bearing deposits 80,267 Time deposits 11,024 Total Deposits $ 166,329 Loan Portfolio Valuation and CECL Impact Valuation work is in process. Preliminary effort suggests that less than 5% of total loans will be identified as PCD. • Estimated credit losses on loans identified as PCD will be recorded directly to the ACL as an increase to the loans’ amortized cost basis. • Estimated credit losses on non-PCD loans will be recorded through the provision for credit losses at the date of acquisition. Purchase Price (Preliminary) (In thousands, except per share data) January 3, 2022 Number of Business Bank of Florida common shares outstanding 1,112 Per share exchange ratio 0.7997 Number of shares of SBCF common stock issued 890 Multiplied by SBCF price per share at closing $ 35.39 Value of SBCF common stock issued 31,480 Fair value of options converted 497 Total purchase price (preliminary) $ 31,977

26FOURTH QUARTER 2021 EARNINGS PRESENTATION January 2022 Acquisition of Sabal Palm Bancorp, Inc. Balances Prior to Acquisition (Excludes Purchase Accounting and Fair Value Adjustments) (In thousands) December 31, 2021 Selected Assets: Cash and equivalents $ 169,865 Loans by segment: Construction and land development 9,227 Commercial real estate - owner-occupied 61,187 Commercial real estate - non owner-occupied 110,402 Residential real estate 46,479 Commercial and financial 17,800 Consumer 238 PPP loans 3,265 Total loans $ 248,598 Selected Liabilities: Noninterest bearing deposits $ 156,499 Interest bearing deposits 217,604 Time deposits 22,061 Total Deposits $ 396,164 Loan Portfolio Valuation and CECL Impact Valuation work is in process. Preliminary effort suggests that less than 5% of total loans will be identified as PCD. • Estimated credit losses on loans identified as PCD will be recorded directly to the ACL as an increase to the loans’ amortized cost basis. • Estimated credit losses on non-PCD loans will be recorded through the provision for credit losses at the date of acquisition. Purchase Price (Preliminary) (In thousands, except per share data) January 3, 2022 Number of Sabal Palm Bancorp, Inc. common shares outstanding 7,537 Per share exchange ratio 0.2203 Number of shares of SBCF common stock issued 1,660 Multiplied by SBCF price per share at closing $ 35.39 Value of SBCF common stock issued 58,762 Fair value of options converted 3,336 Total purchase price (preliminary) $ 62,098

27FOURTH QUARTER 2021 EARNINGS PRESENTATION Integrated Delivery Model Supports Growth Strategy Strong momentum in usage of digital tools and other non-branch delivery channels, and tools to equip our teams to outperform Open - Digital numbers to be provided. All metrics compare 4Q’21 to 4Q’20 Consumer Business % consumer deposits completed outside of the branch % increase in consumer online users % business deposits completed outside of the branch % increase in business online users 61% 11% 45% 11% 25K $850MMNumber of outreach calls triggered by Seacoast’s proprietary Connections platform PPP loan forgiveness to date supported by fully digital platform

28FOURTH QUARTER 2021 EARNINGS PRESENTATION Explanation of Certain Unaudited Non-GAAP Financial Measures This presentation contains financial information determined by methods other than Generally Accepted Accounting Principles (“GAAP”). The financial highlights provide reconciliations between GAAP and adjusted financial measures including net income, noninterest income, noninterest expense, tax adjustments and other financial ratios. Management uses these non-GAAP financial measures in its analysis of the Company’s performance and believes these presentations provide useful supplemental information, and a clearer understanding of the Company’s performance. The Company believes the non-GAAP measures enhance investors’ understanding of the Company’s business and performance and if not provided would be requested by the investor community. These measures are also useful in understanding performance trends and facilitate comparisons with the performance of other financial institutions. The limitations associated with operating measures are the risk that persons might disagree as to the appropriateness of items comprising these measures and that different companies might define or calculate these measures differently. The Company provides reconciliations between GAAP and these non-GAAP measures. These disclosures should not be considered an alternative to GAAP.

29FOURTH QUARTER 2021 EARNINGS PRESENTATION GAAP to Non-GAAP Reconciliation Quarterly Trend Twelve Months Ended (Amounts in thousands except per share data) 4Q'21 3Q'21 2Q'21 1Q'21 4Q'20 4Q'21 4Q'20 Net Income $ 36,330 $ 22,944 $ 31,410 $ 33,719 $ 29,347 $ 124,403 $ 77,764 Total noninterest income 18,706 19,028 15,322 17,671 14,930 70,727 61,570 Securities losses/(gains), net 379 30 55 114 18 578 (1,235) Gain on sale of domain name (included in other income) (755) — — — — (755) — Total Adjustments to Noninterest Income (376) 30 55 114 18 (177) (1,235) Total Adjusted Noninterest Income 18,330 19,058 15,377 17,785 14,948 70,550 60,335 Total noninterest expense 50,263 55,268 45,784 46,120 43,681 197,435 185,552 Merger related charges (482) (6,281) (509) (581) — (7,853) (9,074) Amortization of intangibles (1,304) (1,306) (1,212) (1,211) (1,421) (5,033) (5,857) Business continuity expenses — — — — — — (307) Branch reductions and other expense initiatives (168) (870) (663) (449) (354) (2,150) (818) Total Adjustments to Noninterest Expense (1,954) (8,457) (2,384) (2,241) (1,775) (15,036) (16,056) Total Adjusted Noninterest Expense 48,309 46,811 43,400 43,879 41,906 182,399 169,496 Income Taxes 8,344 7,049 8,785 10,157 8,793 34,335 22,818 Tax effect of adjustments 280 2,081 598 577 440 3,536 3,635 Effect of change in corporate tax rate on deferred tax assets 774 — — — — 774 — Total Adjustments to Income Taxes 1,054 2,081 598 577 440 4,310 3,635 Adjusted Income Taxes 9,398 9,130 9,383 10,734 9,233 38,645 26,453 Adjusted Net Income $ 36,854 $ 29,350 $ 33,251 $ 35,497 $ 30,700 $ 134,952 $ 88,950 Earnings per diluted share, as reported $ 0.62 $ 0.40 $ 0.56 $ 0.60 $ 0.53 $ 2.18 $ 1.44 Adjusted Earnings per Diluted Share 0.62 0.51 0.59 0.63 0.55 2.36 1.65 Average diluted shares outstanding 59,016 57,645 55,901 55,992 55,739 57,088 53,930

30FOURTH QUARTER 2021 EARNINGS PRESENTATION GAAP to Non-GAAP Reconciliation Quarterly Trend Twelve Months Ended (Amounts in thousands except per share data) 4Q'21 3Q'21 2Q'21 1Q'21 4Q'20 4Q'21 4Q'20 Adjusted Noninterest Expense $ 48,309 $ 46,811 $ 43,400 $ 43,879 $ 41,906 $ 182,399 $ 169,496 Foreclosed property expense and net (loss)/gain on sale 175 (66) 90 65 (1,821) 264 (2,263) Provision for unfunded commitments — (133) — — 795 (133) (185) Net Adjusted Noninterest Expense $ 48,484 $ 46,612 $ 43,490 $ 43,944 $ 40,880 $ 182,530 $ 167,048 Revenue $ 90,995 $ 90,352 $ 81,124 $ 84,281 $ 83,721 $ 346,752 $ 324,313 Total Adjustments to Revenue (376) 30 55 114 18 (177) (1,235) Impact of FTE adjustment 123 131 131 131 112 516 460 Adjusted Revenue on a Fully Taxable Equivalent Basis $ 90,742 $ 90,513 $ 81,310 $ 84,526 $ 83,851 $ 347,091 $ 323,538 Adjusted Efficiency Ratio 53.43 % 51.50 % 53.49 % 51.99 % 48.75 % 52.59 % 51.63 % Net Interest Income $ 72,289 $ 71,324 $ 65,802 $ 66,610 $ 68,791 $ 276,025 $ 262,743 Impact of FTE adjustment 123 131 131 131 112 516 460 Net Interest Income including FTE adjustment $ 72,412 $ 71,455 $ 65,933 $ 66,741 $ 68,903 $ 276,541 $ 263,203 Total noninterest income 18,706 19,028 15,322 17,671 14,930 70,727 61,570 Total noninterest expense 50,263 55,268 45,784 46,120 43,681 197,435 185,552 Pre-Tax Pre-Provision Earnings $ 40,855 $ 35,215 $ 35,471 $ 38,292 $ 40,152 $ 149,833 $ 139,221 Total Adjustments to Noninterest Income (376) 30 55 114 18 (177) (1,235) Total Adjustments to Noninterest Expense (1,779) (8,656) (2,294) (2,176) (2,801) (14,905) (18,504) Adjusted Pre-Tax Pre-Provision Earnings $ 42,258 $ 43,901 $ 37,820 $ 40,582 $ 42,971 $ 164,561 $ 156,490 Average Assets $ 10,061,382 $ 9,753,734 $ 9,025,846 $ 8,485,354 $ 8,376,396 $ 9,337,054 $ 7,860,000 Less average goodwill and intangible assets (267,692) (254,980) (235,964) (237,323) (238,631) (249,089) (231,267) Average Tangible Assets $ 9,793,690 $ 9,498,754 $ 8,789,882 $ 8,248,031 $ 8,137,765 $ 9,087,965 $ 7,628,733

31FOURTH QUARTER 2021 EARNINGS PRESENTATION GAAP to Non-GAAP Reconciliation Quarterly Trend Twelve Months Ended (Amounts in thousands except per share data) 4Q'21 3Q'21 2Q'21 1Q'21 4Q'20 4Q'21 4Q'20 Return on Average Assets (ROA) 1.43 % 0.93 % 1.40 % 1.61 % 1.39 % 1.33 % 0.99 % Impact of removing average intangible assets and related amortization 0.08 0.07 0.08 0.09 0.10 0.08 0.09 Return on Average Tangible Assets (ROTA) 1.51 1.00 1.48 1.70 1.49 1.41 1.08 Impact of other adjustments for Adjusted Net Income (0.02) 0.23 0.04 0.05 0.01 0.07 0.09 Adjusted Return on Average Tangible Assets 1.49 1.23 1.52 1.75 1.50 1.48 1.17 Average Shareholders' Equity $ 1,303,686 $ 1,248,547 $ 1,170,395 $ 1,136,416 $ 1,111,073 $ 1,215,312 $ 1,045,219 Less average goodwill and intangible assets (267,692) (254,980) (235,964) (237,323) (238,631) (249,089) (231,267) Average Tangible Equity $ 1,035,994 $ 993,567 $ 934,431 $ 899,093 $ 872,442 $ 966,223 $ 813,952 Return on Average Shareholders' Equity 11.06 % 7.29 % 10.76 % 12.03 % 10.51 % 10.24 % 7.44 % Impact of removing average intangible assets and related amortization 3.23 2.27 3.12 3.59 3.36 3.03 2.66 Return on Average Tangible Common Equity (ROTCE) 14.29 9.56 13.88 15.62 13.87 13.27 10.10 Impact of other adjustments for Adjusted Net Income (0.18) 2.16 0.39 0.39 0.13 0.70 0.83 Adjusted Return on Average Tangible Common Equity 14.11 11.72 14.27 16.01 14.00 13.97 10.93 Loan Interest Income1 $ 64,487 $ 64,517 $ 60,440 $ 62,390 $ 65,684 $ 251,834 $ 254,710 Accretion on acquired loans (3,520) (3,483) (2,886) (2,868) (4,448) (12,757) (14,977) Interest and fees on PPP loans (3,352) (5,917) (5,127) (6,886) (5,187) (21,282) (11,974) Loan interest income excluding PPP and accretion on acquired loans $ 57,615 $ 55,117 $ 52,427 $ 52,636 $ 56,049 $ 217,795 $ 227,759 Yield on Loans1 4.31 % 4.49 % 4.33 % 4.39 % 4.42 % 4.38 % 4.49 % Impact of accretion on acquired loans (0.24) (0.24) (0.21) (0.20) (0.30) (0.22) (0.27) Impact of PPP loans (0.13) (0.22) 0.01 (0.04) 0.11 (0.10) 0.11 Yield on loans excluding PPP and accretion on acquired loans 3.94 % 4.03 % 4.13 % 4.15 % 4.23 % 4.06 % 4.33 % 1On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost.

32FOURTH QUARTER 2021 EARNINGS PRESENTATION Quarterly Trend Twelve Months Ended (Amounts in thousands except per share data) 4Q'21 3Q'21 2Q'21 1Q'21 4Q'20 4Q'21 4Q'20 Net Interest income1 $ 72,412 $ 71,455 $ 65,933 $ 66,741 $ 68,903 $ 276,541 $ 263,203 Accretion on acquired loans (3,520) (3,483) (2,886) (2,868) (4,448) (12,757) (14,977) Interest and fees on PPP loans (3,352) (5,917) (5,127) (6,886) (5,187) (21,282) (11,974) Net interest income excluding PPP and accretion on acquired loans $ 65,540 $ 62,055 $ 57,920 $ 56,987 $ 59,268 $ 242,502 $ 236,252 Net Interest Margin1 3.16 % 3.22 % 3.23 % 3.51 % 3.59 % 3.27 % 3.65 % Impact of accretion on acquired loans (0.15) (0.15) (0.14) (0.15) (0.23) (0.15) (0.21) Impact of PPP loans (0.10) (0.18) (0.06) (0.11) 0.01 (0.11) 0.03 Net interest margin excluding PPP and accretion on acquired loans 2.91 % 2.89 % 3.03 % 3.25 % 3.37 % 3.01 % 3.47 % Security Interest Income1 $ 8,750 $ 7,956 $ 6,745 $ 6,485 $ 6,586 $ 29,936 $ 30,288 Tax equivalent adjustment on securities (37) (38) (39) (39) (23) (153) (116) Security interest income excluding tax equivalent adjustment $ 8,713 $ 7,918 $ 6,706 $ 6,446 $ 6,563 $ 29,783 $ 30,172 Loan Interest Income1 $ 64,487 $ 64,517 $ 60,440 $ 62,390 $ 65,684 $ 251,834 $ 254,710 Tax equivalent adjustment on loans (86) (93) (92) (92) (89) (363) (344) Loan interest income excluding tax equivalent adjustment $ 64,401 $ 64,424 $ 60,348 $ 62,298 $ 65,595 $ 251,471 $ 254,366 Net Interest Income1 $ 72,412 $ 71,455 $ 65,933 $ 66,741 $ 68,903 $ 276,541 $ 263,203 Tax equivalent adjustment on securities (37) (38) (39) (39) (23) (153) (116) Tax equivalent adjustment on loans (86) (93) (92) (92) (89) (363) (344) Net interest income excluding tax equivalent adjustment $ 72,289 $ 71,324 $ 65,802 $ 66,610 $ 68,791 $ 276,025 $ 262,743 1On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost. GAAP to Non-GAAP Reconciliation

XML

Cover Page	Jan. 27, 2022
Cover [Abstract]
Document Type	8-K
Document Period End Date	Jan. 27, 2022
Entity Registrant Name	SEACOAST BANKING CORPORATION OF FLORIDA
Entity Incorporation, State or Country Code	FL
Entity File Number	000-13660
Entity Tax Identification Number	59-2260678
Entity Address, Address Line One	815 COLORADO AVENUE,
Entity Address, City or Town	STUART
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	34994
City Area Code	772
Local Phone Number	287-4000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, $0.10 par value
Trading Symbol	SBCF
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Entity Central Index Key	0000730708
Amendment Flag	false