XML 41 R25.htm IDEA: XBRL DOCUMENT v3.22.4
Seacoast Banking Corporation of Florida (Parent Company Only) Financial Information
 12 Months Ended
Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]  
Seacoast Banking Corporation of Florida (Parent Company Only) Financial Information Seacoast Banking Corporation of Florida (Parent Company Only) Financial Information
Balance Sheets
 December 31,
(In thousands)20222021
Assets  
Cash$58 $57 
Securities purchased under agreement to resell with subsidiary bank, maturing within 30 days111,698 98,398 
Investment in subsidiaries1,578,786 1,286,478 
Other assets2,335 1,140 
 $1,692,877 $1,386,073 
Liabilities and Shareholders' Equity
Subordinated debt$84,533 $71,646 
Other liabilities673 3,795 
Shareholders' equity1,607,671 1,310,632 
 $1,692,877 $1,386,073 
Statements of Income
 Year Ended December 31,
(In thousands)202220212020
Income   
Interest/other$897 $167 $270 
Dividends from subsidiary Bank48,424 47,684 20,230 
Total income49,321 47,851 20,500 
Interest expense3,090 1,683 2,236 
Other expenses1,023 765 838 
Total expenses4,113 2,448 3,074 
Income before income taxes and equity in undistributed income of subsidiaries45,208 45,403 17,426 
Income tax benefit(675)(481)(589)
Income before equity in undistributed income of subsidiaries45,883 45,884 18,015 
Equity in undistributed income of subsidiaries60,624 78,519 59,749 
Net income$106,507 $124,403 $77,764 
Statements of Cash Flows
 Year Ended December 31,
(In thousands)202220212020
Cash flows from operating activities   
Adjustments to reconcile net income to net cash provided
by operating activities:		   
Net Income$106,507 $124,403 $77,764 
Equity in undistributed income of subsidiaries(60,624)(78,519)(59,749)
Net (increase) decrease in other assets(13,823)(489)1,772 
Net increase in other liabilities499 400 256 
Net cash provided by operating activities32,559 45,795 20,043 
Cash flows from investing activities
Net cash from bank acquisitions17,610 — (1,462)
Net advances with subsidiary(13,300)(28,324)(17,095)
Net cash provided by (used in) investment activities4,310 (28,324)(18,557)
Cash flows from financing activities
Dividends paid(41,242)(22,506)— 
Stock based employment benefit plans4,374 5,022 (1,486)
Net cash used in financing activities(36,868)(17,484)(1,486)
Net change in cash1 (13)— 
Cash at beginning of year57 70 70 
Cash at end of year$58 $57 $70 
Supplemental disclosure of cash flow information:
Cash paid during the period for interest$2,890 $1,441 $1,992