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Business Combinations (Tables)
 9 Months Ended
Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of Purchase Price Calculation
(In thousands, except per share data)January 3, 2022
Number of BBFC common shares outstanding1,112 
Per share exchange ratio0.7997
Number of shares of common stock issued889 
Multiplied by common stock price per share on January 3, 2022$35.39 
Value of common stock issued31,480 
Fair value of options converted497 
Total purchase price$31,977 
(In thousands, except per share data)January 3, 2022
Number of Sabal Palm common shares outstanding7,536 
Per share exchange ratio0.2203
Number of shares of common stock issued1,660 
Multiplied by common stock price per share on January 3, 2022$35.39 
Value of common stock issued58,762 
Fair value of options converted3,336 
Total purchase price$62,098 
(In thousands, except per share data)August 6, 2021
Number of Legacy Bank common shares outstanding15,778 
Per share exchange ratio0.1703
Number of shares of common stock issued2,687 
Multiplied by common stock price per share on August 6, 2021$32.19 
Value of common stock issued86,487 
Cash paid for fractional shares7 
Fair value of options converted4,736 
Total purchase price$91,230 
(In thousands, except per share data)October 7, 2022
Number of Apollo Bancshares, Inc. common shares outstanding3,766,412 
Per share exchange ratio1.006529
Number of shares of SBCF common stock issued3,790,848 
Number of Apollo Bank minority interest shares outstanding608,635 
Per share exchange ratio1.195651
Number of shares of SBCF common stock issued727,714 
Total number of shares of SBCF common stock issued4,518,562
Multiplied by common stock price per share at October 7, 2022$30.83 
Value of SBCF common stock issued$139,307 
Cash paid for fractional shares5 
Fair value of Apollo Bancshares, Inc. options and warrants converted6,530 
Total purchase price $145,842 
(In thousands, except per share data)October 7, 2022
Number of Drummond Banking Company. common shares outstanding98,846 
Per share exchange ratio51.9561
Number of shares of SBCF common stock issued5,135,631 
Multiplied by common stock price per share at October 7, 2022$30.83 
Total purchase price$158,332 
Schedule of Business Acquisitions
(In thousands)Initially Measured
January 3, 2022
Assets:
Cash$38,332 
Investment securities26,011 
Loans121,774 
Bank premises and equipment2,102 
Core deposit intangibles2,621 
Goodwill7,962 
Total assets$198,802 
Liabilities:
Deposits166,326 
Other liabilities499 
Total liabilities$166,825 
(In thousands)Initially Measured
January 3, 2022
Assets: 
Cash$170,609 
Time deposits with other banks6,473 
Loans246,152 
Bank premises and equipment1,745 
Core deposit intangibles5,587 
Goodwill26,489 
Other assets5,189 
Total assets$462,244 
Liabilities:
Deposits395,952 
Other liabilities4,194 
Total liabilities$400,146 
(In thousands)Initially Measured
August 6, 2021
Assets: 
Cash$98,107 
Investment securities992 
Loans477,215 
Bank premises and equipment2,577 
Core deposit intangibles3,454 
Goodwill30,978 
Other assets15,532 
Total assets$628,855 
Liabilities:
Deposits494,921 
Other liabilities42,705 
Total liabilities$537,626 
Schedule of Fair Value of Acquired Loans, Unpaid Principal Balance, Purchase Price and Allowance for Credit Losses
The table below presents information with respect to the fair value and unpaid principal balance of acquired loans at the acquisition date.
January 3, 2022
(In thousands)Book BalanceFair Value
Loans: 
Construction and land development$8,677 $8,414 
Commercial real estate - owner-occupied45,403 44,564 
Commercial real estate - non owner-occupied53,065 52,034 
Residential real estate 5,377 5,421 
Commercial and financial9,376 9,321 
Consumer59 61 
PPP loans1,959 1,959 
Total acquired loans$123,916 $121,774 
The table below presents information with respect to the fair value and unpaid principal balance of acquired loans at the acquisition date.
January 3, 2022
(In thousands)Book BalanceFair Value
Loans:  
Construction and land development$9,256 $9,009 
Commercial real estate - owner-occupied57,690 56,591 
Commercial real estate - non owner-occupied89,153 87,280 
Residential real estate 71,469 72,227 
Commercial and financial17,797 17,501 
Consumer233 232 
PPP loans3,312 3,312 
Total acquired loans$248,910 $246,152 
The table below presents information with respect to the fair value and unpaid principal balance of acquired loans at the acquisition date.
August 6, 2021
(In thousands)Book BalanceFair Value
Loans:  
Construction and land development$37,558 $36,651 
Commercial real estate - owner-occupied35,765 35,363 
Commercial real estate - non owner-occupied241,322 237,091 
Residential real estate 71,118 70,541 
Commercial and financial61,274 58,324 
Consumer647 647 
PPP loans38,598 38,598 
Total acquired loans$486,282 $477,215 
Schedule Purchase Credit Deteriorated Loans Acquired
The table below presents the carrying amount of loans for which, at the date of acquisition, there was evidence of more than insignificant deterioration of credit quality since origination:
(In thousands)January 3, 2022
Book balance of loans at acquisition$714 
Allowance for credit losses at acquisition(15)
Non-credit related discount(48)
Total PCD loans acquired$651 
The table below presents the carrying amount of loans for which, at the date of acquisition, there was evidence of more than insignificant deterioration of credit quality since origination:
(In thousands)January 3, 2022
Book balance of loans at acquisition$3,703 
Allowance for credit losses at acquisition(37)
Non-credit related discount(663)
Total PCD loans acquired$3,003 
The table below presents the carrying amount of loans for which, at the date of acquisition, there was evidence of more than insignificant deterioration of credit quality since origination:
(In thousands)August 6, 2021
Book balance of loans at acquisition$66,371 
Allowance for credit losses at acquisition(3,046)
Non-credit related discount(736)
Total PCD loans acquired$62,589 
Schedule of Pro-Forma Data Pro-forma data presents information as if the acquisition of Legacy Bank occurred at the beginning of 2020, and the acquisitions of BBFC and Sabal Palm occurred at the beginning of 2021, as follows:
Three Months Ended September 30,Nine Months Ended September 30,
(In thousands, except per share amounts)2022202120222021
Net interest income$88,284 $79,030 $246,453 $235,175 
Net income29,237 29,950 87,262 98,700 
EPS - basic$0.48 $0.48 $1.42 $1.61 
EPS - diluted0.47 0.48 1.41 1.60