EXHIBIT 99.1

To 8-K dated July 25, 2006

NEWS RELEASE

SEACOAST BANKING CORPORATION OF FLORIDA

Dennis S. Hudson, III

Chairman and Chief Executive Officer

Seacoast Banking Corporation of Florida

(772) 288-6086

William R. Hahl

Executive Vice President/

Chief Financial Officer

 (772) 221-2825

SEACOAST REPORTS RECORD EARNINGS AND AN

IMPROVED NET INTEREST MARGIN

FOR THE SECOND QUARTER 2006

STUART, FL., July 25, 2006 – Seacoast Banking Corporation of Florida (NASDAQ:  SBCF), a bank holding company whose principal subsidiary is Seacoast National Bank, announced earnings and highlights for the quarter ending June 30, 2006, including:

•

Earnings of $0.37 diluted earnings per share (DEPS) in the second quarter of 2006, excluding $0.03 DEPS in merger and other nonrecurring charges, up nine percent linked quarter (reported GAAP earnings of $0.34 DEPS include merger and other nonrecurring charges);

•

Earnings of $0.71 DEPS for the first six months of 2006, excluding $0.03 DEPS in merger and other nonrecurring charges, up 22 percent compared to the $0.58 DEPS for the same period a year ago (reported GAAP earnings of $0.68 DEPS include merger and other nonrecurring charges);

•

Higher net interest margin and increased net interest income;

•

Excellent credit quality;

•

The successful integration of Big Lake Financial Corporation (“Big Lake”) which was acquired on April 1, 2006 and rebranding of Seacoast’s principal subsidiary; and

•

A lower overhead ratio compared to prior quarter.

“The earnings momentum continued in the second quarter driven by higher net interest income, an improved net interest margin and a better mix of earning assets,” said Seacoast Chairman and Chief Executive Officer Dennis S. Hudson, III.  “We are pleased with our progress so far this year and are particularly pleased with the success of our integration with Big Lake this quarter.  Next quarter we will complete our planned systems integration with our Orlando affiliate, Century National Bank.  Upon completion of these important projects we plan to bring greater focus on operating efficiency improvements for the company as a whole.”  

Net income for the first half of 2006 totaled $12,876,000 or $0.71 DEPS, excluding $0.03 DEPS in merger and other nonrecurring charges, up 37.5 percent compared to $9,361,000 or $0.58 DEPS for 2005.  (In 2005, the Company had no merger and other nonrecurring charges in the second quarter or for the first six months.)  Net income (GAAP) for the first half of 2006 totaled $12,300,000 or $0.68 DEPS.  

(continued)

Cash operating earnings for the second quarter of 2006 totaled $7,219,000 or $0.38 DEPS, up $1,761,000 or 32.3 percent over the same period last year and increased $1,276,000 or 21.5 percent from the first quarter 2006.   (The Company believes that cash operating earnings, excluding the impacts of noncash interest rate swap fair value changes, noncash amortization expense, the one-time merger costs related to the Big Lake acquisition, and costs associated with the name change for the Company’s primary banking subsidiary, is a better measurement of the Company’s trend in operating earnings growth.  Net cash payments and receipts from the interest rate swap have been immaterial for the periods presented.)

Taxable equivalent net interest income rose to $24,030,000, or 18.5 percent from first quarter 2006, and grew by 34.5 percent from last year’s second quarter, aided by further net interest margin expansion and strong organic loan growth, as well as the Big Lake acquisition.  

The Big Lake acquisition included loans of $204 million and deposits of $301 million at March 31, 2006.  This, together with strong growth in all markets served by the Company, resulted in total loan growth of $466 million or 40.6 percent since June 30, 2005.  At June 30, 2006, the mix of loans outstanding was: 25 percent residential mortgage loans, 60 percent commercial and commercial real estate loans, and 15 percent consumer loans.

The second quarter’s net interest margin of 4.29 percent represented an increase from the 3.91 percent achieved in the second quarter of 2005, and was higher than the first quarter 2006’s results of 4.16 percent.  Continued disciplined balance sheet management, including modest deposit account rate increases, allowed the margin to climb 25 basis points over the past 6 months.  Overall net interest margin was favorably impacted by approximately 8 basis points in the second quarter as a result of the application of purchase accounting to the fixed rate loan and investment portfolios acquired from Big Lake.

Average noninterest bearing deposits and savings deposits (excluding certificates of deposits) in the second quarter of 2006 increased 17.9 percent from the same quarter a year ago, with a 14.2 percent year-over-year growth in average noninterest bearing deposits.  These growth rates include the impact of the average deposits acquired from Big Lake.  As anticipated, deposit growth slowed in the markets affected by the hurricanes that occurred in late 2004 and 2005, as insurance and other proceeds accumulated by customers were used to repair damages.   Total average organic deposit growth for the prior twelve months increased by 5.0 percent.  Average time deposits (excluding Big Lake) rose 24.6 percent, and increased this component of deposits to 26 percent of total deposits (after acquisition) from 24 percent a year ago.  The change in deposit mix and rate increases by the Federal Reserve totaling 200 basis points over the past year impacted the cost of deposits, which increased to 1.99 percent in the current quarter from 1.18 percent in the second quarter 2005.  

Credit quality was outstanding in the second quarter 2006.  Nonperforming assets totaled only $588,000, or 0.04 percent of loans and other real estate, representing a slight increase from the year-end total of $372,000, entirely attributable to the loans acquired from Big Lake.  Second quarter 2006 net loan recoveries totaled $76,000, compared to net loan recoveries of $80,000 for the first quarter of 2006.  The Company has maintained strong and consistent credit quality and low net charge-offs.  After a second quarter provision for loan losses of $280,000 and the acquired Big Lake allowance for loan losses of $2.5 million, the Company’s loan loss allowance totaled $12.2 million or 0.76 percent of total loans.

Noninterest income for the quarter, excluding interest rate swap profit (losses) and securities gains (losses), increased 22.1 percent when compared to the second quarter 2005.   Revenues from service charges on deposit accounts, fees from electronic fund transfers, and mortgage banking fees increased in the second quarter compared to the first quarter in 2006, mostly as a result of the acquisition.  Mortgage banking fees have been impacted by slowing production due to rates increasing and intense competition during the first six months of 2006.  However, the new markets, as a result of the acquisition, improved the overall production for the Company in the second quarter and, more importantly, going forward.  Marine finance fees and fees from wealth management services were higher than the prior year’s second quarter with no current impact from the Big Lake acquisition.  

Noninterest expenses totaled $19.9 million for the second quarter of 2006, a $3.8 million increase from the previous quarter, of which $2.8 million was related to the Big Lake acquisition including $202,000 for deposit base intangible amortization.  Also included in the increase was $304,000 in nonrecurring charges and costs associated with the principal bank subsidiary’s name change during the second quarter of 2006.  Of the $2.0 million increase in salaries and wages from the first quarter, $526,000 was related to higher commissions and incentives associated with costs tied directly to incremental revenue production, and $1.1 million was Big Lake salaries and wages.  The Company’s overhead ratio for the second quarter, excluding merger and other nonrecurring charges, was 61.1 percent, compared to 62.5 percent for the first quarter of 2006.

Seacoast will host a conference call on Wednesday, July 26 at 10:00 a.m. (Eastern Time) to discuss the earnings results and business trends.  Investors may call in (toll-free) by dialing (800) 640-9765 (access code: 15092209; leader: Dennis Hudson).  Charts will be used during the conference call and may be accessed at Seacoast’s website at www.seacoastbanking.net under “Presentations”.  A replay of the call will be available beginning the afternoon of July 26 by dialing (877) 213-9653 (domestic), using the passcode 15092209.

Seacoast Banking Corporation of Florida has over $2.4 billion in assets.  It is one of the largest independent commercial banking organizations in Florida and is headquartered on Florida’s Treasure Coast, one of the wealthiest and fastest growing areas in the nation.

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Cautionary Notice Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements about the benefits of the integration and consolidation of Seacoast with Big Lake and Century, including future financial and operating results, cost savings, enhanced revenues, and accretion to reported earnings that may be realized from the merger, as well as statements with respect to Seacoast’s and Big Lake’s plans, objectives, expectations and intentions and other statements that are not historical facts.  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, estimates and intentions, 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.  

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”, “point to,” “project,” “could,” “intend” 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 conditions; governmental monetary and fiscal policies, as well as legislative and regulatory changes; the risks of changes in interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, securities, and interest sensitive assets and liabilities; interest rate risks and sensitivities; 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.  The risks of mergers and acquisitions, include, without limitation: unexpected transaction costs, including the costs of integrating operations; the risks that the businesses of Seacoast, Big Lake and Century will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than expected; the potential failure to fully or timely realize expected revenues and revenue synergies, including as the result of revenues following the merger being lower than expected; the risk of deposit and customer attrition; any changes in deposit mix; unexpected operating and other costs, which may differ or change from expectations; the risks of customer and employee loss and business disruption, including, without limitation, as the result of difficulties in maintaining relationships with employees; increased competitive pressures and solicitations of Big Lake and Century’s customers by competitors; as well as the difficulties and risks inherent with entering the Central Florida market.

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, 2005 under “Special Cautionary Notice Regarding Forward-Looking Statements,” and otherwise in our SEC reports and filings.  Such reports are available upon request from Seacoast, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov.

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FINANCIAL  HIGHLIGHTS	(Unaudited)
SEACOAST  BANKING  CORPORATION  OF  FLORIDA  AND  SUBSIDIARIES
	Three Months Ended				Six Months Ended
(Dollars in thousands,	June 30,				June 30,
except per share data)	2006		2005		2006		2005
Summary of Earnings
Net income (GAAP)	$           6,434	$	5,475		$       12,300	$	9,361
Merger and other nonrecurring charges	576		-		576		-
Earnings, excluding merger and other
nonrecurring charges	7,010		5,474		12,876		9,361
Amortization of core deposit premium	209		144		286		151
Net interest rate swap (profits) losses	-		(162	)	-		174
Cash operating earnings*	$           7,219	$	5,458		$       13,162	$	9,686
Net interest income  (1)	24,030		17,867		44,304		33,144
Performance Ratios
Return on average assets  (2), (3)
Using GAAP earnings	1.07	%	1.13	%	1.09	%	1.04	%
Using cash operating earnings* on average tangible assets	1.23		1.14		1.19		1.09
Return on average
shareholders' equity  (2), (3)
Using GAAP earnings	12.43		16.07		13.53		15.16
Using cash operating earnings* on average tangible equity	19.39		18.88		19.33		17.36
Net interest margin  (1), (2)	4.29		3.91		4.23		3.90
Per Share Data
Net income diluted (GAAP)	$             0.34	$	0.33		$           0.68	$	0.58
Merger and other nonrecurring charges	0.03		-		0.03		-
Earnings, excluding merger and other
Nonrecurring charges	0.37		0.33		0.71		0.58
Amortization of core deposit premium	0.01		0.01		0.01		0.01
Net interest rate swap (profits) losses	-		(0.01	)	-		0.01
Cash operating earnings* diluted	$             0.38	$	0.33		$           0.72	$	0.60
Net income basic (GAAP)	0.34		0.33		0.69		0.59
Cash dividends declared	0.15		0.14		0.30		0.28

(1)  Calculated on a fully taxable equivalent basis using amortized cost.

(2)  These ratios are stated on an annualized basis and are not necessarily indicative of future periods.

(3) The calculations of ROA and ROE do not include the mark-to-market unrealized gains (losses) because the unrealized gains (losses) are not included in net income.

*

The Company believes that cash operating earnings excluding the impacts of noncash interest rate swap fair value changes, noncash amortization expense and the one-time merger costs related to the Big Lake acquisition which was completed on April 3, 2006, and costs associated with the name change announced for the Company’s primary banking subsidiary is a better measurement of the Company’s trend in operating earnings growth.  Net cash payments and receipts from the interest rate swap have been immaterial for the periods presented.

FINANCIAL  HIGHLIGHTS	(Unaudited)
SEACOAST  BANKING  CORPORATION  OF  FLORIDA  AND  SUBSIDIARIES
			June 30,					Increase/
			2006		2005			(Decrease)
Credit Analysis
Net charge-offs (recoveries) year-to-date		$	(156	)       $		202		(177.2	)%
Net charge-offs (recoveries) to
average loans			(0.02	)%		0.04	%	(150.0	)%
Loan loss provision year-to-date			560			707		(20.8	)
Allowance to loans at end of period			0.76	%		0.73	%	4.1
Nonperforming assets		$	588	$		200		194.0
Nonperforming assets to loans and other
real estate owned at end of period			0.04	%		0.02	%	100.0
Selected Financial Data
Total assets		$	2,415,242	$		2,052,175		17.7
Securities – Held for sale (at fair value)			367,766			461,685		(20.3	)
Securities – Held for investment (at amortized cost)			141,734			170,573		(16.9	)
Net loans			1,602,405			1,140,045		40.6
Deposits			2,028,605			1,743,895		16.3
Shareholders’ equity			202,843			146,877		38.1
Book value per share			10.70			8.63		24.0
Tangible book value per share			7.68			6.53		17.6
Average shareholders' equity
to average assets			8.09	%		6.87	%	17.8
Average Balances (Year-to-Date)
Total assets		$	2,267,127	$		1,811,927		25.1
Less: Intangible assets			45,996			11,950		284.9
Total average tangible assets		$	2,221,131	$		1,799,977		23.4
Total equity		$	183,306	$		124,525		47.2
Less: Intangible assets			45,996			11,950		284.9
Total average tangible equity		$	137,310	$		112,575		22.0

CONDENSED CONSOLIDATED STATEMENTS OF INCOME  (Unaudited)

SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

			Three Months Ended					Six Months Ended
			June 30,					June 30,
(Dollars in thousands, except per share data)			2006			2005		2006		2005
Interest on securities:
Taxable	$		6,120		$	5,707	$	11,517	$	10,677
Nontaxable			94			18		109		36
Interest and fees on loans			28,976			17,348		51,987		31,834
Interest on federal funds sold and interest bearing deposits			1,018			774		2,353		1,194
Total Interest Income			36,208			23,847		65,966		43,741
Interest on deposits			4,837			2,090		8,176		3,532
Interest on time certificates			5,206			2,797		9,298		5,210
Interest on borrowed money			2,203			1,121		4,281		1,916
Total Interest Expense			12,246			6,008		21,755		10,658
Net Interest Income			23,962			17,839		44,211		33,083
Provision for loan losses			280			269		560		707
Net Interest Income After Provision for Loan Losses				23,682		17,570		43,651		32,376
Noninterest income:
Service charges on deposit accounts			1,801			1,246		3,043		2,339
Trust income			801			684		1,513		1,267
Mortgage banking fees			331			425		540		995
Brokerage commissions and fees			1,042			634		1,818		1,368
Marine finance fees			868			836		1,661		1,534
Debit card income			558			441		1,021		857
Other deposit based EFT fees			102			109		199		230
Merchant income			619			605		1,298		1,175
Interest rate swap profits (losses)			0			249		0		(267)
Other income			397			359		730		651
			6,519			5,588		11,823		10,149
Securities gains (losses)			(97		)	41		(86	)	44
Total Noninterest Income			6,422			5,629		11,737		10,193
Noninterest expenses:
Salaries and wages			8,443			5,640		14,862		10,930
Employee benefits			1,769			1,499		3,569		2,931
Outsourced data processing			2,180			1,680		3,929		3,239
Occupancy expense			2,062			1,244		3,595		2,392
Furniture and equipment expense			591			520		1,127		1,035
Marketing expense			926			853		1,843		1,729
Legal and professional fees			699			639		1,236		1,180
FDIC assessments			79			60		138		104
Amortization of intangibles			321			222		440		233
Other expense			2,806			2,285		5,246		4,181
Total Noninterest Expenses			19,876			14,642		35,985		27,954
Income Before Income Taxes			10,228			8,557		19,403		14,615
Provision for income taxes			3,794			3,082		7,103		5,254
Net Income		$	6,434		$	5,475	$	12,300	$	9,361
Per share common stock:
Net income diluted		$	0.34		$	0.33	$	0.68	$	0.58
Net income basic			0.34			0.33		0.69		0.59
Cash dividends declared			0.15			0.14		0.30		0.28
Average diluted shares outstanding			19,103,077			16,706,162		18,200,400		16,202,134
Average basic shares outstanding			18,727,475			16,345,301		17,825,416		15,830,012

CONDENSED CONSOLIDATED BALANCE SHEETS  (Unaudited)

SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

		June 30,		December 31,			June 30,
(Dollars in thousands)		2006		2005			2005
Assets
Cash and due from banks		$70,177	$		67,373	$	75,949
Federal funds sold and interest bearing deposits		100,514			153,120		116,600
Total Cash and Cash Equivalents		170,691			220,493		192,549
Securities:
Held for sale (at fair value)		367,766			392,952		461,685
Held for investement (at amortized cost)		141,734			150,072		170,573
Total Securities		509,500			543,024		632,258
Loans available for sale		3,362			2,440		5,887
Loans, net of unearned income		1,614,646			1,289,995		1,148,373
Less: Allowance for loan losses		(12,241)			(9,006)		(8,328)
Net Loans		1,602,405			1,280,989		1,140,045
Bank premises and equipment		37,320			22,218		21,166
Other real estate owned		139			0		0
Goodwill and other intangible assets		57,149			33,901		35,687
Other assets		34,676			29,109		24,583
		$2,415,242	$		2,132,174	$	2,052,175
Liabilities and Shareholders’ Equity
Liabilities
Deposits
Demand deposits (noninterest bearing)		$488,535	$		472,996	$	481,206
Savings deposits		1,000,385			882,031		860,405
Other time deposits		312,209			256,484		260,757
Time certificates of $100,000 or more		227,476			172,708		141,527
Total Deposits		2,028,605			1,784,219		1,743,895
Federal funds purchased and securities sold under agreements to repurchase, maturing within 30 days	104,941				96,786		87,742
Borrowed funds	26,218				45,485		43,854
Subordinated debt	41,238				41,238		20,619
Other liabilities	11,397				11,726		9,188
	2,212,399				1,979,454		1,905,298
Shareholders' Equity
Preferred stock	0				0		0
Common stock	1,897				1,710		1,710
Additional paid in capital	90,998				46,258		46,169
Retained earnings	119,108				112,271		106,008
Restricted stock awards	(4,001		)		(3,447)		(3,702)
Treasury stock	(121		)		(218)		(913)
	207,881				156,574		149,272
Accumulated other comprehensive loss	(5,038		)		(3,854	)	(2,395)
Total Shareholders’ Equity	202,843				152,720		146,877
	$2,415,242		$		2,132,174	$	2,052,175
Common Shares Outstanding	18,958,534				17,084,315		17,023,513

Note:  The balance sheet at December 31, 2005 has been derived from the audited financial statements at that date.

CONSOLIDATED QUARTERLY FINANCIAL DATA   (Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
			Quarters
			2006					2005								Last 12
(Dollars in thousands, except per share data)			Second		First			Fourth					Third			Months
Net income (GAAP)	$		6,434	$     5,866			$5,833				$    5,565			$	23,698
Merger and other nonrecurring charges			576	--			--				--				576
Earnings, excluding merger and other
nonrecurring charges			7,010	5,866			5,833				5,565				24,274
Amortization of core deposit premium			209	77			77				118				481
Net interest rate swap (profits) losses			--	--			--				--				--
Cash operating earnings*	$		7,219	$   5,943			$5,910				$    5,683			$	24,755
Operating Ratios
Return on average assets (GAAP) (2),(3)
Using GAAP earnings			1.07%	1.13%			1.10		%		1.09			%	1.08		%
Using cash operating earnings* on average tangible assets			1.23	1.16			1.13				1.14				1.17
Return on average shareholders' equity (GAAP) (2),(3)
Using GAAP earnings			12.43	14.98			14.96				14.59				13.87
Using cash operating earnings* on average tangible equity			19.39	19.25			19.48				19.50				19.41
Net interest margin (1),(2)			4.29	4.16			4.04				4.01				4.01
Average equity to average assets			8.58	7.52			7.35				7.50				7.77
Credit Analysis
Net charge-offs (recoveries)			$   (76)	$(80)			$   (32)				(35)				$   (233)
Net charge-offs (recoveries) to average loans			(0.02) %	(0.02)%			(0.01)		%		(0.01)			%	(0.02)		%
Loan loss provision			$   280	$280			$   330				$ 280				$  1,170
Allowance to loans at end of period			0.76%	0.70%			0.70		%		0.71			%
Nonperforming assets			$   588	$240			$  372				$ 325
Nonperforming assets to loans and other real estate owned at end of period			0.04%	0.02%			0.03		%		0.03			%
Nonaccrual loans and accruing loans 90 days or more past due to loans outstanding at end of period			0.03	0.02			0.06				0.03
Per Share Common Stock
Net income diluted (GAAP)			$   0.34	$0.34			$  0.34				$ 0.32			$	1.34
Merger and other nonrecurring charges			0.03	--			--				--				0.03
Earnings, excluding merger and other
nonrecurring charges			0.37	0.34			0.34				0.32				1.37
Amortization of core deposit premium			0.01	--			--				0.01				0.02
Net interest rate swap (profit) losses			--	--			--				--				--
Cash operating earnings* diluted		$	0.38	$0.34		$  0.34				$  0.33				$	1.39
Net income basic (GAAP)			0.34	0.35			0.35					0.33			1.37
Cash dividends declared			0.15	0.15			0.15					0.15			0.60
Book value per share			10.70	9.09			8.94					8.76
Average Balances
Total assets		$	2,419,683	$2,112,876			$2,103,978		$			2,017,521
Less: Intangible assets			58,252	33,604			34,337					35,676
Total average tangible assets		$	2,361,431	$2,079,272			$2,069,641		$			1,981,845
Total equity		$	207,555	$158,787			$154,681		$			151,299
Intangible assets			58,252	33,604			34,337					35,676
Total average tangible equity	$		149,303	$125,183			120,344		$			115,623

 (1) Calculated on a fully taxable equivalent basis using amortized cost.

(2) These ratios are stated on an annualized basis and are not necessarily indicative of future periods.

(3) The calculations of ROA and ROE do not include the mark-to-market unrealized gains (losses), because the unrealized gains (losses) are not included in net income.

*

The Company believes that cash operating earnings excluding the impacts of noncash interest rate swap fair value changes, noncash amortization expense and the one-time merger costs related to the Big Lake acquisition which was completed on April 3, 2006, and costs associated with the name changes announced for the Company’s primary banking subsidiary is a better measurement of the Company’s trend in operating earnings growth.  Net cash payments and receipts from the interest rate swap have been immaterial for the periods presented.

CONSOLIDATED QUARTERLY FINANCIAL DATA   (Unaudited) (continued)

SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

(Dollars in thousands)

SECURITIES		June 30, 2006			December 31, 2005					June 30, 2005
U.S. Treasury and U.S. Government Agencies	$		106,266	$		71,189	$			78,682
Mortgage-backed			257,639			319,906				382,196
Obligations of states and political subdivisions			2,020			0				114
Other securities			1,841			1,857				693
Securities Held for Sale			367,766			392,952				461,685
U.S. Treasury and U. S. Government Agencies			0			5,000				4,999
Mortgage-backed			135,101			143,877				164,152
Obligations of states and political subdivisions			6,633			1,195				1,422
Securities Held for Investment			141,734			150,072				170,573
Total Securities	$		509,500	$		543,024	$			632,258
LOANS		June 30, 2006		December 31, 2005						June 30, 2005
Construction and land development	$	511,480		$		427,216		$	351,457
Real estate mortgage		893,950				680,877			620,883
Installment loans to individuals		87,408				82,942			89,791
Commercial and financial		121,330				98,653			85,746
Other loans		478				307			496
Total Loans	$	1,614,646		$		1,289,995		$	1,148,373

AVERAGE BALANCES, YIELDS AND RATES (1) (Unaudited)

SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

		2006								2005
		Second Quarter		First Quarter						Second Quarter
		Average	Yield/			Average	Yield/			Average	Yield/
(Dollars in thousands)		Balance	Rate			Balance	Rate			Balance		Rate
Assets
Earning assets:
Securities:
Taxable	$	567,572	4.31	%	$	535,790	4.03	%	$	633,258		3.60	%
Nontaxable		8,666	6.42			1,195	7.70			1,423		7.59
Total Securities		576,238	4.34			536,985	4.04			634,681		3.61
Federal funds sold and other
investments		86,260	4.73			121,592	4.45			106,756		2.91
Loans, net		1,586,597	7.33			1,318,291	7.08			1,091,628		6.38
Total Earning Assets		2,249,095	6.47			1,976,868	6.11			1,833,065		5.22
Allowance for loan losses		(12,059	)			(9,184	)			(7,778		)
Cash and due from banks		74,788				71,065				63,988
Premises and equipment		32,771				23,432				21,008
Other assets		75,088				50,695				34,796
	$	2,419,683		$		2,112,876		$		1,945,079
Liabilities and Shareholders' Equity
Interest-bearing liabilities:
NOW	$	219,871	1.54	%	$	138,604	0.97	%	$	105,678		0.57	%
Savings deposits		166,563	0.74			145,094	0.51			171,715		0.50
Money market accounts		608,601	2.43			593,403	1.93			553,134		1.25
Time deposits		533,577	3.91			451,223	3.68			393,308		2.85
Federal funds purchased and other short term borrowings		105,140	4.12			109,206	3.80			81,178		2.36
Other borrowings		67,533	6.68			72,596	5.90			60,505		4.27
Total Interest-Bearing Liabilities		1,701,285	2.89			1,510,126	2.55			1,365,518		1.76
Demand deposits (noninterest-bearing)		496,308				434,692				434,777
Other liabilities		14,535				9,271				8,125
Total Liabilities		2,212,128				1,954,089				1,808,420
Shareholders' equity		207,555				158,787				136,659
	$	2,419,683				2,112,876				1,945,079
Interest expense as a % of earning assets			2.18	%			1.95	%				1.31	%
Net interest income as a % of earning assets			4.29				4.16					3.91

(1)

 On a fully taxable equivalent basis.  All yields and rates have been computed on an annualized basis using amortized cost.  Fees on loans have been included in interest on loans.  Nonaccrual loans are included in loan balances.