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) July 23, 2020

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	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 July 23, 2020, Seacoast Banking Corporation of Florida (“Seacoast” or the “Company”) announced its financial results for the quarter ended June 30, 2020. A copy of the press release announcing Seacoast’s results for the quarter ended June 30, 2020 is attached hereto as Exhibit 99.1 and incorporated herein by reference.

Item 7.01 Regulation FD Disclosure

On July 24, 2020, Seacoast will hold an investor conference call to discuss its financial results for the quarter ended June 30, 2020. 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 June 30, 2020, 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 July 23, 2020 with respect to Seacoast's financial results for the quarter ended June 30, 2020
99.2	Data on website containing information used in the conference call to be held on July 24, 2020
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 expect to acquire, including FBPB and Fourth Street, as well as statements with respect to Seacoast's objectives, strategic plans, including Vision 2020, 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.

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.

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; changes in accounting policies, rules and practices, including the impact of the adoption of CECL; 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; 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; 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 and successfully acquire desirable financial institutions; 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.

The risks relating to the FBPB merger and Fourth Street proposed merger include, without limitation: the timing to consummate the proposed merger; the risk that a condition to closing the proposed merger may not be satisfied; the risk that the merger is not completed at all; the diversion of management time on issues related to the proposed merger;unexpected transaction costs, including the costs of integrating operations; the risks that the businesses 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 mergers 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 expectation;the risks of customer and employee loss and business disruptions, including, without limitation, as the result of difficulties in maintaining relationships with employees; increased competitive pressures and solicitations of customers by competitors; as well as the difficulties and risks inherent with entering new markets.

Given the many unknowns and risks being heavily weighted to the downside, our forward-looking statements are subject to the risk that conditions will be substantially different than we are currently expecting. If efforts to contain COVID-19 are unsuccessful and restrictions on movement last into the third quarter or beyond, the recession would be much longer and much more severe. Ineffective fiscal stimulus, or an extended delay in implementing it, are also major downside risks. The deeper the recession is, and the longer it lasts, the more it will damage consumer

fundamentals and sentiment. This could both prolong the recession, and/or make any recovery weaker. Similarly, the recession could damage business fundamentals. And an extended global recession due to COVID-19 would weaken the U.S. recovery. As a result, the outbreak and its consequences, including responsive measures to manage it, have had and are likely to continue to have an adverse effect, possibly materially, on our business and financial performance by adversely affecting, possibly materially, the demand and profitability of our products and services, the valuation of assets and our ability to meet the needs of our customers.

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, 2019 and our quarterly report on Form 10-Q for the quarter ended March 31, 2020 under, 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: July 23, 2020	/s/ Tracey L. Dexter
	TRACEY L. DEXTER
	Chief Financial Officer

EX-99.1

SEACOAST REPORTS SECOND QUARTER 2020 RESULTS

Second Consecutive Quarter of Record Results in Mortgage Banking and Wealth Management

Well Positioned Balance Sheet with Strong Capital and Liquidity

STUART, Fla., July 23, 2020 /GLOBE NEWSWIRE/ -- Seacoast Banking Corporation of Florida ("Seacoast" or the "Company") (NASDAQ: SBCF) today reported net income in the second quarter of 2020 of $25.1 million, or $0.47 per diluted share, up 8% or $1.8 million year-over-year. The ratio of tangible common equity to tangible assets was 10.19%, tangible book value per share increased to $15.11 and Tier 1 capital increased to 16.4%.

For the second quarter of 2020, return on average tangible assets was 1.37%, return on average tangible shareholders' equity was 13.47%, and the efficiency ratio was 50.11%, compared to 0.11%, 0.95%, and 59.85%, respectively, in the prior quarter and 1.50%, 14.30%, and 53.48%, respectively, in the second quarter of 2019. Adjusted return on average tangible assets¹ was 1.33%, adjusted return on average tangible shareholders' equity¹ was 13.09%, and the adjusted efficiency ratio¹ was 49.81%, compared to 0.32%, 2.86%, and 53.61%, respectively, in the prior quarter and 1.59%, 15.17%, and 51.44%, respectively, in the second quarter of 2019.

Dennis S. Hudson, III, Seacoast's Chairman and CEO, said, "Maintaining support for our customers continues to be a top priority for us in this dynamic and challenging environment. Our branches remain open for drive-thru activity and lobby appointments only, and the significant majority of our non-retail associates are working effectively from home. We continue to maintain safety standards for both customers and associates, and I am grateful to the Seacoast associates for their continued dedication to serving our customers and communities in this unprecedented time."

Charles M. Shaffer, Seacoast's President and Chief Operating Officer said, "We have had a longstanding commitment to maintaining a fortress balance sheet and strong capital levels, positioning us with a solid foundation despite the uncertainty of the economic outlook. Seacoast is committed to supporting its communities while maintaining strict underwriting standards and a robust liquidity position. Our mortgage banking and wealth teams delivered another quarter of record results, and we delivered $591 million in Paycheck Protection Program funding to our business customers. We continue to grow tangible book value per share, ending the period at $15.11, up 11% over the prior year. As circumstances evolve, we will continue to manage our balance sheet carefully and will help support the economic recovery of our communities from a position of strength."

Paycheck Protection Program ("PPP") Loans

Seacoast worked with existing customers, and later with new customers, to help businesses access the Paycheck Protection Program. Through June 30, 2020, Seacoast has funded over 5,000 loans to companies totaling $591 million with an average loan size of $116,000 and a median loan size of $43,000. Fees earned by Seacoast, net of loan-specific costs, total $17 million and are deferred and recognized as an adjustment to yield over the expected life of the loans. Seacoast recognized net fees of $4.0 million and contractual interest of $1.1 million on PPP loans in the second quarter of 2020, resulting in a yield of 4.81%. There is significant uncertainty about how borrowers will seek and qualify for forgiveness, and therefore uncertainty about the expected life of these loans and the timing of recognition of the remaining $13 million in net fees.

Financial Results

Income Statement

•Net income was $25.1 million, or $0.47 per diluted share, compared to $0.7 million, or $0.01, for the prior quarter and $23.3 million, or $0.45, for the second quarter of 2019. For the six months ended June 30, 2020, net income was $25.8 million, or $0.49 per diluted share, compared to $46.0 million, or $0.88 for the six months ended June 30, 2019. Adjusted net income¹ was $25.5 million, or $0.48 per diluted share, compared to $5.5 million, or $0.10, for the prior quarter and $25.8 million, or $0.50, for the second quarter of 2019. For the six months ended June 30, 2020, adjusted net income¹ was $30.9 million, or $0.59 per diluted share, compared to $50.0 million, or $0.96, for the six months ended June 30, 2019.

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

•Net revenues were $82.3 million, an increase of $4.4 million, or 6%, compared to the prior quarter and an increase of $8.6 million, or 12%, compared to the second quarter of 2019. For the six months ended June 30, 2020, net revenues were $160.1 million, an increase of $12.8 million, or 9%, compared to the six months ended June 30, 2019. Adjusted revenues¹ were $81.0 million, an increase of $3.2 million, or 4%, from the prior quarter and an increase of $6.9 million, or 9%, from the second quarter of 2019. For the six months ended June 30, 2020, adjusted revenues¹ were $158.9 million, an increase of $11.1 million, or 8%, compared to the six months ended June 30, 2019.

•Net interest income totaled $67.3 million, an increase of $4.1 million, or 6%, from the prior quarter and an increase of $7.1 million, or 12%, from the second quarter of 2019. For the six months ended June 30, 2020, net interest income was $130.4 million, an increase of $9.5 million, or 8%, compared to the six months ended June 30, 2019. During the second quarter of 2020, net interest income includes $5.1 million in interest and fees earned on PPP loans.

•Net interest margin was 3.70% in the second quarter of 2020, 3.93% in the first quarter of 2020, and 3.94% in the second quarter of 2019. Compared to the first quarter of 2020, increased liquidity levels through higher cash and cash equivalent balances that position Seacoast conservatively for market uncertainty resulted in 17 basis points of margin compression. Accretion of purchase discounts on acquired loans increased net interest margin by 16 basis points in the second quarter of 2020, compared to 27 basis points in the first quarter of 2020 and 27 basis points in the second quarter of 2019, with the lower impact in the second quarter of 2020 resulting from lower levels of prepayments. The effect on net interest margin of interest and fees earned on PPP loans was 8 basis points in the second quarter of 2020. Excluding the impact of fee accretion on acquired loans and interest and fees earned on PPP loans, the yield on loans contracted 26 basis points, impacted by lower market rates. Reflecting Seacoast's continued attractive deposit franchise, the cost of deposits decreased 26 basis points to 0.31%, the result of higher deposit balances and lower rates paid on deposits.

•Noninterest income totaled $15.0 million, an increase of $0.3 million, or 2%, compared to the prior quarter and an increase of $1.4 million, or 11%, compared to the second quarter of 2019. For the six months ended June 30, 2020, noninterest income was $29.7 million, an increase of $3.3 million, or 12%, compared to the six months ended June 30, 2019. Results for the second quarter of 2020 included the following:

◦Mortgage banking fees increased $1.4 million, or 61%, compared to the first quarter of 2020 to a record $3.6 million, reflecting continued strong demand in the residential refinance market and strength in the Florida housing market.

◦Interchange revenue declined in April but recovered to pre-pandemic levels by June, resulting in overall results consistent with the first quarter of 2020.

◦Service charges on deposits decreased $0.9 million compared to the first quarter of 2020 with lower NSF and overdraft fees resulting from higher customer deposit balances.

◦Seacoast's wealth management division reported a record-breaking quarter of new production in assets under management, with assets increasing $125.0 million in the quarter, resulting in AUM of $707.6 million. A majority of the new assets under management came late in the quarter, which should benefit revenue in future periods.

◦A decrease of $1.2 million in other income reflects the recognition of $0.9 million in revenue from SBIC investments in the first quarter of 2020 which did not recur in the second quarter of 2020, as well as fees waived to assist customers in the pandemic.

◦Gains on the sale of securities represented $1.2 million in the second quarter of 2020, compared to negligible activity in the first quarter of 2020 and losses of $0.5 million on securities sales in the second quarter of 2019. Activity in the second quarter of 2020 included prudent repositioning of investments in collateralized lending obligation ("CLO") securities, with "A" rated securities sold and replaced with "AAA" rated securities.

•The provision for credit losses was $7.6 million compared to $29.5 million in the prior quarter and $2.6 million in the second quarter of 2019. In the first quarter of 2020, Seacoast adopted the new current expected

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

credit losses ("CECL") methodology, which requires that the allowance for credit losses reflect an estimate of the full amount of expected credit losses in the portfolio as of the measurement date. On March 31, 2020, the ratio of allowance for credit losses to total loans was 1.61%. The estimate on June 30, 2020 which, excluding PPP loans, totals 1.76%, builds prudent additional reserves in response to ongoing economic uncertainty.

•Noninterest expense was $42.4 million, a decrease of $5.4 million, or 11%, compared to the prior quarter and an increase of $1.4 million, or 3%, from the second quarter of 2019. For the six months ended June 30, 2020, noninterest expense was $90.2 million, an increase of $6.1 million, or 7%, compared to the six months ended June 30, 2019. Changes from the first quarter of 2020 consisted of the following:

◦Salaries and wages decreased by $3.5 million, or 15%. The first quarter of 2020 included $2.2 million in costs associated with the acquisition of First Bank of the Palm Beaches ("FBPB"), and $0.3 million in bonuses for retail associates who kept critical functions operating at full capacity through the early stages of the pandemic. In the second quarter, higher loan production driven by the PPP program resulted in higher deferrals of related salary costs, in accordance with ASC 310-20, lowering costs by $2.9 million. Offsetting increases resulted from the addition of staff from the FBPB acquisition, and temporary staffing in the customer support center to accommodate increased call volumes associated with the pandemic operating environment.

◦Employee benefits decreased by $0.9 million, or 21%, due to the seasonal impact on the first quarter of higher payroll taxes and 401(k) contributions, and lower health insurance costs in the second quarter of 2020.

◦Data processing costs decreased by $0.6 million. The first quarter of 2020 included merger-related costs of $0.8 million. In the second quarter of 2020, the Company incurred higher lending-related costs to support the administration of the PPP program.

◦Legal and professional fees reflect a decrease of $1.1 million attributed to merger-related costs incurred in the first quarter of 2020.

◦In the second quarter of 2020, the Company utilized the remainder of its previously issued FDIC small bank assessment credits to offset the current period expense. FDIC assessments expense is expected to be $0.5 million in each of the remaining quarters of 2020.

•Seacoast recorded $7.2 million of income tax expense in the second quarter of 2020, compared to a tax benefit of $0.2 million in the prior quarter and income tax expense of $6.9 million in the second quarter of 2019. Tax expense related to stock-based compensation totaled $0.2 million in the second quarter of 2020, compared to a tax benefit of $0.3 million in the first quarter of 2020 and a tax benefit of $0.1 million in the second quarter of 2019.

•Second quarter adjusted revenues¹ increased 4% compared to the prior quarter while adjusted noninterest expense¹ decreased 3%, generating 7% operating leverage.

•The ratio of adjusted noninterest expense¹ to average tangible assets was 2.13% in the second quarter of 2020, compared to 2.44% in the prior quarter and 2.34% in the second quarter of 2019.

•Continuing Seacoast's commitment to careful expense management, the efficiency ratio was 50.1% compared to 59.8% in the prior quarter and 53.5% in the second quarter of 2019. The adjusted efficiency ratio¹ was 49.8% compared to 53.6% in the previous quarter and 51.4% in the second quarter of 2019.

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

Balance Sheet

•At June 30, 2020, the Company had total assets of $8.1 billion and totalshareholders' equity of $1.0 billion. Book value per share was $19.45, and tangible book value per share was $15.11, compared to $18.82 and $14.42, respectively, on March 31, 2020, and $18.08 and $13.65, respectively, on June 30, 2019. This resulted in a year-over-year increase in tangible book value per share of 11%.

•Debt securities totaled $1.2 billion on June 30, 2020, an increase of $40.4 million compared to March 31, 2020, and an increase of $1.2 million from June 30, 2019. During the quarter, $64.5 million of securities were sold resulting in a net gain of $1.2 million. Purchases of securities during the quarter totaled $165.0 million.

•Loans totaled $5.8 billion on June 30, 2020, an increase of $454.8 million, or 9%, compared to March 31, 2020, and an increase of $883.9 million, or 18%, from June 30, 2019. Excluding PPP loans, loans outstanding declined by $121.6 million compared to March 31, 2020.

◦Seacoast originated over 5,000 loans totaling $590.7 million through the PPP program through June 30, 2020, with an average loan size of $116,000.

◦Other loan originations were $310.8 million in the second quarter of 2020, compared to $323.5 million in the first quarter of 2020 and $406.6 million in the second quarter of 2019.

▪As anticipated, and reflecting the economic impact of the pandemic, commercial originations during the second quarter of 2020 were $106.9 million, compared to $183.3 million in the first quarter of 2020 and $238.1 million in the second quarter of 2019.

▪Residential saleable loan originations were robust at $122.5 million in the second quarter of 2020, compared to $62.9 million in the first quarter of 2020 and $61.4 million in the second quarter of 2019.

▪Closed residential loans retained in the portfolio totaled $23.5 million in the second quarter of 2020, compared to $25.8 million in the first quarter of 2020 and $51.8 million in the second quarter of 2019.

▪Consumer originations in the second quarter of 2020 were $58.0 million, compared to $51.5 million in the first quarter of 2020 and $55.4 million in the second quarter of 2019.

◦Seacoast provided borrowers affected by the pandemic the ability to defer payments of loan principal and interest for periods ranging from three to six months. As of June 30, 2020, $1.1 billion in loans were in payment deferral status, 39% of which are scheduled to return to regular payments in the third quarter of 2020, and 61% in the fourth quarter of 2020. During the payment deferral period, Seacoast continues to recognize interest income.

•Pipelines (loans in underwriting and approval or approved and not yet closed) totaled $255.6 million on June 30, 2020. Seacoast remains committed to maintaining strict and careful underwriting, given the unknown impact of the pandemic on the economy.

◦Commercial pipelines were $117.0 million as of June 30, 2020, compared to $171.1 million as of the prior quarter end and $300.2 million as of June 30, 2019. The decline in the pipeline quarter over quarter was the result of a continued conservative approach on new credits given the uncertain economic outlook.

◦Residential saleable pipelines were $94.7 million as of June 30, 2020, compared to $75.2 million as of the prior quarter end and $46.7 million as of June 30, 2019. The increase reflects the impact of a vibrant refinance market and strength in the Florida housing market. Retained residential pipelines were $13.2 million as of June 30, 2020, compared to $11.8 million as of the prior quarter end and $3.8 million as of June 30, 2019.

◦Consumer pipelines were $30.6 million as of June 30, 2020, compared to $29.1 million as of the prior quarter-end and $26.9 million as of June 30, 2019.

•Total deposits were $6.7 billion as of June 30, 2020, with Seacoast's strong deposit base showing an increase of $779.3 million, or 13%, sequentially and an increase of $1.1 billion, or 20%, from the prior year with increases

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

in transaction and money market accounts partially offset by a decline in CDs, highlighting a continued attractive deposit mix. Increases in transaction and money market deposit accounts reflect customer growth, lower overall consumer spending levels, and the impact of government support programs enacted in the second quarter of 2020, including PPP and individual stimulus payments.

◦The overall cost of deposits declined to 31 basis points in the second quarter of 2020 from 57 basis points in the prior quarter, following rate cuts by the Federal Reserve in March 2020.

◦Total transaction accounts increased 30% quarter-over-quarter and, as a percentage of overall deposit funding, increased to 55% of overall deposit funding from 50% at March 31, 2020.

◦Interest-bearing deposits (interest-bearing demand, savings, and money market deposits) increased year-over-year $403.1 million, or 14%, to $3.2 billion, noninterest-bearing demand deposits increased $597.6 million, or 36%, to $2.3 billion, and CDs (excluding brokered) decreased $178.6 million, or 23%, to $606.6 million.

◦On June 30, 2020, deposits per banking center were $133 million, compared to $118 million on March 31, 2020, and $113 million on June 30, 2019.

Asset Quality

•Nonperforming loans to totalloansoutstanding were 0.52% at June 30, 2020, 0.48% at March 31, 2020, and 0.47% at June 30, 2019.

•Nonperforming assets to total assets were 0.57% at June 30, 2020, 0.55% at March 31, 2020 and 0.50% at June 30, 2019.

•Theratio of allowance for credit losses to total loans was 1.58% at June 30, 2020, 1.61% at March 31, 2020, and 0.69% at June 30, 2019. The Company has assigned no allowance for credit losses to PPP loans, as the United States government contractually guarantees repayment. Excluding PPP loans, the ratio of allowance for credit losses to total loans at June 30, 2020, was 1.76%.

•Net charge-offs were $1.8 million, or 0.12%, of average loans for the second quarter of 2020 compared to $1.0 million, or 0.07%, of average loans in the first quarter of 2020 and $1.8 million, or 0.15% of average loans in the second quarter of 2019. Net charge-offs for the four most recent quarters averaged 0.15%.

•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 $384,000, reflecting an ability to maintain granularity within the overall loan portfolio.

•The Company does not have any purchased loan syndications, shared national credits, or mezzanine finance.

•Since the outbreak of COVID-19, the Company has not experienced any material increase in consumer or commercial line utilization.

•Construction and land development and commercial real estate loans remain well below regulatory guidance at 34% and 188% of total bank-level risk based capital, respectively, compared to 35% and 193% respectively, in the first quarter of 2020. On a consolidated basis, construction and land development and commercial real estate loans represent 32% and 176%, respectively, of total consolidated risk-based capital.

•In this uncertain time, Seacoast will remain vigilant in maintaining its conservative credit posture.

Capital and Liquidity

•The tier 1 capital ratio increased to 16.4% from 15.5% at March 31, 2020, and 14.6% June 30, 2019. The total capital ratio was 17.6% and the tier 1 leverage ratio was 11.4% at June 30, 2020.

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

•Tangible common equity to tangible assets was 10.19% at June 30, 2020, compared to 10.68% at March 31, 2020 and 10.65% at June 30, 2019. The decrease in the second quarter of 2020 when compared to the prior quarter was due to growth in the balance sheet, the result of PPP loans and associated liquidity increasing total assets.

•Cash and cash equivalents at June 30, 2020 totaled $524.3 million, an increase of $399.8 million from December 31, 2019, as Seacoast took a conservative stance at the outset of the pandemic.

•At June 30, 2020, the Company had available unsecured lines of credit of $135.0 million and lines of credit under lendable collateral value of $1.4 billion. $881.7 million of debt securities and $764.1 million in 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
	2Q'20			1Q'20			4Q'19			3Q'19			2Q'19
Selected Balance Sheet Data:
Total Assets	$	8,084,013		$	7,352,894		$	7,108,511		$	6,890,645		$	6,824,886
Gross Loans	5,772,052			5,317,208			5,198,404			4,986,289			4,888,139
Total Deposits	6,666,783			5,887,499			5,584,753			5,673,141			5,541,209
Performance Measures:
Net Income	$	25,080		$	709		$	27,176		$	25,605		$	23,253
Net Interest Margin	3.70		%	3.93		%	3.84		%	3.89		%	3.94		%
Average Diluted Shares Outstanding	53,308			52,284			52,081			51,935			51,952
Diluted Earnings Per Share (EPS)	$	0.47		$	0.01		$	0.52		$	0.49		$	0.45
Return on (annualized):
Average Assets (ROA)	1.27		%	0.04		%	1.54		%	1.49		%	1.38		%
Average Tangible Assets (ROTA)	1.37			0.11			1.66			1.61			1.50
Average Tangible Common Equity (ROTCE)	13.47			0.95			14.95			14.73			14.30
Tangible Common Equity to Tangible Assets2	10.19			10.68			11.05			11.05			10.65
Tangible Book Value Per Share	$	15.11		$	14.42		$	14.76		$	14.30		$	13.65
Efficiency Ratio	50.11		%	59.85		%	48.36		%	48.62		%	53.48		%
Adjusted Operating Measures1:
Adjusted Net Income	$	25,452		$	5,462		$	26,837		$	27,731		$	25,818
Adjusted Diluted EPS	0.48			0.10			0.52			0.53			0.50
Adjusted ROTA	1.33		%	0.32		%	1.57		%	1.67		%	1.59		%
Adjusted ROTCE	13.09			2.86			14.19			15.30			15.17
Adjusted Efficiency Ratio	49.81			53.61			47.52			48.96			51.44
Adjusted Noninterest Expense as a Percent of Average Tangible Assets2	2.13			2.44			2.11			2.22			2.34
Other Data:
Market capitalization3	$	1,081,009		$	965,097		$	1,574,775		$	1,303,010		$	1,309,158
Full-time equivalent employees	924			919			867			867			852
Number of ATMs	76			76			78			80			81
Full-service banking offices	50			50			48			48			49
Registered online users	117,273			113,598			109,684			107,241			104,017
Registered mobile devices	108,062			104,108			99,361			96,384			92,281
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.

Second Quarter Strategic Highlights

Capitalizing on Seacoast's Early Commitment to Digital Transformation

•The COVID-19 pandemic has influenced how customers interact with Seacoast, accelerating the shift to digital for many customer segments. While branches remain open by drive-thru or lobby appointments, customers are also seeking the convenient security of mobile banking. Mobile banking logins have increased 11% compared to pre-pandemic periods, and have increased 20% compared to one year ago.

•As the Paycheck Protection Program became available, Seacoast was able to adapt quickly to an automated solution with an existing technology partner to provide customers with faster access at the application stage. To support the forgiveness process, enhancements to the existing loan origination platform were rapidly developed, including a customer portal, which allows documents and loan information to be digitally uploaded directly onto the platform.

•Substantially all non-branch staff have been working remotely since the beginning of the pandemic. In April of 2020, Seacoast conducted an associate survey, gaining feedback on the organization's response to the pandemic. Of the respondents who were working remotely, 95% stated that their productivity had increased or stayed the same as a result of working from home.

Driving Improvements to Operations

•During the second quarter of 2020, Seacoast's website launched an artificial intelligence-enabled "chat-bot" tool that provides users with answers to frequently asked questions. This interactive self-service feature has facilitated nearly 10,000 interactions, giving customers quick access to the information they need while reducing call center volume and wait times.

•Low interest rates fueling refinance demand combined with a strong Florida housing market have driven record levels of mortgage volume. In the first quarter of 2020, Seacoast introduced digital closing and notarization capabilities for residential mortgages and, in the second quarter, rolled out an end-to-end fully-electronic closing capability.

Fourth Street Banking Company Acquisition

•Seacoast's acquisition of Fourth Street Banking Company, the holding company for Freedom Bank of St. Petersburg, is expected to be completed in August 2020, subject to shareholder approval and other customary closing conditions. Freedom Bank has also been supporting its customers in accessing the PPP program, with $55 million in PPP loans as of June 30, 2020. Loans on deferral represent 19% of Freedom Bank's total non-PPP loans outstanding. On June 30, 2020, Freedom Bank's total net loans were $312 million and total deposits were $359 million.

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

OTHER INFORMATION

Conference Call Information

Seacoast will host a conference call on July 24, 2020 at 10:00 a.m. (Eastern Time) to discuss the second quarter 2020 earnings results and business trends. Investors may call in (toll-free) by dialing (800) 774-6070 (passcode 6599 321#; host Dennis S. Hudson). 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 of July 24, 2020, by clicking here and using passcode 49804232.

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 "Investor Services." Beginning the afternoon of July 24, 2020, 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 is one of the largest community banks headquartered in Florida with approximately $8.1 billion in assets and $6.7 billion in deposits as of June 30, 2020. The Company provides integrated financial services including commercial and retail banking, wealth management, and mortgage services to customers through advanced banking solutions, and 50 traditional branches of its locally-branded, wholly-owned subsidiary bank, Seacoast Bank. Offices stretch from Fort Lauderdale, Boca Raton and West Palm Beach north through the Daytona Beach area, into Orlando and Central Florida and the adjacent Tampa market, and west to Okeechobee and surrounding counties. More information about the Company is available at www.SeacoastBanking.com.

Additional Information

Seacoast has filed a registration statement on Form S-4, as amended, with the United States Securities and Exchange Commission (the "SEC") in connection with the proposed merger of Fourth Street Banking Company ("Fourth Street") with and into Seacoast and Freedom Bank with and into Seacoast Bank. The registration statement in connection with the Fourth Street merger includes a proxy statement of Fourth Street and a prospectus of Seacoast. A definitive proxy statement/prospectus has been mailed to shareholders of Fourth Street. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. WE URGE INVESTORS TO READ THE PROXY STATEMENTS/PROSPECTUSES AND ANY OTHER DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE MERGERS OR INCORPORATED BY REFERENCE IN THE PROXY STATEMENTS/PROSPECTUSES BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.

Investors may obtain (when available) these documents free of charge at the SEC’s Web site (www.sec.gov). In addition, documents filed with the SEC by Seacoast will be available free of charge by contacting Investor Relations at (772) 288-6085.

Fourth Street, its directors, and executive officers and other members of management and employees may be considered participants in the solicitation of proxies in connection with the merger of the proposed merger of Fourth Street with and into Seacoast. Information regarding the participants in the proxy solicitation of Fourth Street and a description of its direct and indirect interests, by security holdings or otherwise, is contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC.

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, 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 expect to acquire, including FBPB

and Fourth Street, as well as statements with respect to Seacoast's objectives, strategic plans, including Vision 2020, 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.

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; changes in accounting policies, rules and practices, including the impact of the adoption of CECL; 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; 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; 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 and successfully acquire desirable financial institutions; 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.

The risks relating to the FBPB merger and Fourth Street proposed merger include, without limitation: the timing to consummate the proposed merger; the risk that a condition to closing of the proposed merger may not be satisfied; the risk that the merger is not completed at all; the diversion of management time on issues related to the proposed merger; unexpected transaction costs, including the costs of integrating operations; the risks that the businesses 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 mergers 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 disruptions, including, without limitation, as the result of difficulties in maintaining relationships with employees; increased competitive pressures and solicitations of customers by competitors; as well as the difficulties and risks inherent with entering new markets.

Given the many unknowns and risks being heavily weighted to the downside, our forward-looking statements are subject to the risk that conditions will be substantially different than we are currently expecting. If efforts to contain COVID-19 are unsuccessful and restrictions on movement last into the third quarter or beyond, the recession would be much longer and much more severe. Ineffective fiscal stimulus, or an extended delay in implementing it, are also major downside risks. The deeper the recession is, and the longer it lasts, the more it will damage consumer fundamentals and sentiment. This could both prolong the recession, and/or make any recovery weaker. Similarly, the recession could damage business fundamentals. And an extended global recession due to COVID-19 would weaken the U.S. recovery. As a result, the outbreak and its consequences, including responsive measures to manage it, have had and are likely to continue to have an adverse effect, possibly materially, on our business and financial performance by adversely affecting, possibly materially, the demand and profitability of our products and services, the valuation of assets and our ability to meet the needs of our customers.

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, 2019, and our quarterly report on Form 10-Q for the quarter ended March 31, 2020 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															Six Months Ended
(Amounts in thousands, except ratios and per share data)	2Q'20			1Q'20			4Q'19			3Q'19			2Q'19			2Q'20			2Q'19
Summary of Earnings
Net income	$	25,080		$	709		$	27,176		$	25,605		$	23,253		$	25,789		$	45,958
Adjusted net income1	25,452			5,462			26,837			27,731			25,818			30,914			50,023
Net interest income2	67,388			63,291			61,846			61,027			60,219			130,679			121,080
Net interest margin2,3	3.70		%	3.93		%	3.84		%	3.89		%	3.94		%	3.81		%	3.98		%
Performance Ratios
Return on average assets-GAAP basis3	1.27		%	0.04		%	1.54		%	1.49		%	1.38		%	0.69		%	1.37		%
Return on average tangible assets-GAAP basis3,4	1.37			0.11			1.66			1.61			1.50			0.78			1.49
Adjusted return on average tangible assets1,3,4	1.33			0.32			1.57			1.67			1.59			0.86			1.55
Adjusted noninterest expense to average tangible assets1,3,4	2.13			2.44			2.11			2.22			2.34			2.26			2.43
Return on average shareholders' equity-GAAP basis3	9.96			0.29			11.04			10.73			10.23			5.17			10.35
Return on average tangible common equity-GAAP basis3,4	13.47			0.95			14.95			14.73			14.30			7.27			14.57
Adjusted return on average tangible common equity1,3,4	13.09			2.86			14.19			15.30			15.17			8.02			15.14
Efficiency ratio5	50.11			59.85			48.36			48.62			53.48			54.88			55.01
Adjusted efficiency ratio1	49.81			53.61			47.52			48.96			51.44			51.68			53.62
Noninterest income to total revenue (excluding securities gains/losses)	17.00			18.84			18.30			19.53			18.93			17.90			18.19
Tangible common equity to tangible assets4	10.19			10.68			11.05			11.05			10.65			10.19			10.65
Average loan-to-deposit ratio	88.48			93.02			90.71			88.35			87.27			90.59			88.87
End of period loan-to-deposit ratio	87.40			90.81			93.44			88.36			88.53			87.40			88.53
Per Share Data
Net income diluted-GAAP basis	$	0.47		$	0.01		$	0.52		$	0.49		$	0.45		$	0.49		$	0.88
Net income basic-GAAP basis	0.47			0.01			0.53			0.50			0.45			0.49			0.89
Adjusted earnings1	0.48			0.10			0.52			0.53			0.50			0.59			0.96
Book value per share common	19.45			18.82			19.13			18.70			18.08			19.45			18.08
Tangible book value per share	15.11			14.42			14.76			14.30			13.65			15.11			13.65
Cash dividends declared	—			—			—			—			—			—			—
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										Six Months Ended
(Amounts in thousands, except per share data)	2Q'20		1Q'20		4Q'19		3Q'19		2Q'19		2Q'20		2Q'19
Interest on securities:
Taxable	$	7,573	$	8,696	$	8,500	$	8,802	$	8,933	$	16,269	$	18,052
Nontaxable	121		122		130		131		143		243		294
Interest and fees on loans	64,844		63,440		62,868		63,092		62,288		128,284		124,575
Interest on federal funds sold and other investments	684		734		788		800		873		1,418		1,791
Total Interest Income	73,222		72,992		72,286		72,825		72,237		146,214		144,712
Interest on deposits	1,203		3,190		3,589		4,334		4,825		4,393		8,698
Interest on time certificates	3,820		4,768		5,084		6,009		5,724		8,588		10,683
Interest on borrowed money	927		1,857		1,853		1,534		1,552		2,784		4,421
Total Interest Expense	5,950		9,815		10,526		11,877		12,101		15,765		23,802
Net Interest Income	67,272		63,177		61,760		60,948		60,136		130,449		120,910
Provision for credit losses	7,611		29,513		4,800		2,251		2,551		37,124		3,948
Net Interest Income After Provision for Credit Losses	59,661		33,664		56,960		58,697		57,585		93,325		116,962
Noninterest income:
Service charges on deposit accounts	1,939		2,825		2,960		2,978		2,894		4,764		5,591
Interchange income	3,187		3,246		3,387		3,206		3,405		6,433		6,806
Wealth management income	1,719		1,867		1,579		1,632		1,688		3,586		3,141
Mortgage banking fees	3,559		2,208		1,514		2,127		1,734		5,767		2,849
Marine finance fees	157		146		338		153		201		303		563
SBA gains	181		139		576		569		691		320		1,327
BOLI income	887		886		904		928		927		1,773		1,842
Other	2,147		3,352		2,579		3,197		2,503		5,499		4,769
	13,776		14,669		13,837		14,790		14,043		28,445		26,888
Securities gains (losses), net	1,230		19		2,539		(847)		(466)		1,249		(475)
Total Noninterest Income	15,006		14,688		16,376		13,943		13,577		29,694		26,413
Noninterest expenses:
Salaries and wages	20,226		23,698		17,263		18,640		19,420		43,924		37,926
Employee benefits	3,379		4,255		3,323		2,973		3,195		7,634		7,401
Outsourced data processing costs	4,059		4,633		3,645		3,711		3,876		8,692		7,721
Telephone / data lines	791		714		651		603		893		1,505		1,704
Occupancy	3,385		3,353		3,368		3,368		3,741		6,738		7,548
Furniture and equipment	1,358		1,623		1,416		1,528		1,544		2,981		3,301
Marketing	997		1,278		885		933		1,211		2,275		2,343
Legal and professional fees	2,277		3,363		2,025		1,648		2,033		5,640		4,880
FDIC assessments	266		—		—		56		337		266		825
Amortization of intangibles	1,483		1,456		1,456		1,456		1,456		2,939		2,914
Foreclosed property expense and net loss/(gain) on sale	245		(315)		3		262		(174)		(70)		(214)
Other	3,933		3,740		4,022		3,405		3,468		7,673		7,750
Total Noninterest Expense	42,399		47,798		38,057		38,583		41,000		90,197		84,099
Income Before Income Taxes	32,268		554		35,279		34,057		30,162		32,822		59,276
Income taxes	7,188		(155)		8,103		8,452		6,909		7,033		13,318
Net Income	$	25,080	$	709	$	27,176	$	25,605	$	23,253	$	25,789	$	45,958
Per share of common stock:
Net income diluted	$	0.47	$	0.01	$	0.52	$	0.49	$	0.45	$	0.49	$	0.88
Net income basic	0.47		0.01		0.53		0.50		0.45		0.49		0.89
Cash dividends declared	—		—		—		—		—		—		—
Average diluted shares outstanding	53,308		52,284		52,081		51,935		51,952		52,807		51,998
Average basic shares outstanding	52,985		51,803		51,517		51,473		51,446		52,394		51,403

CONDENSED CONSOLIDATED BALANCE SHEETS			(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	June 30,		March 31,		December 31,		September 30,		June 30,
(Amounts in thousands)	2020		2020		2019		2019		2019
Assets
Cash and due from banks	$	84,178	$	82,111	$	89,843	$	106,349	$	97,792
Interest bearing deposits with other banks	440,142		232,763		34,688		25,911		61,987
Total Cash and Cash Equivalents	524,320		314,874		124,531		132,260		159,779
Time deposits with other banks	2,496		3,742		3,742		4,579		4,980
Debt Securities:
Available for sale (at fair value)	976,025		910,311		946,855		920,811		914,615
Held to maturity (at amortized cost)	227,092		252,373		261,369		273,644		287,302
Total Debt Securities	1,203,117		1,162,684		1,208,224		1,194,455		1,201,917
Loans held for sale	54,943		29,281		20,029		26,768		17,513
Loans	5,772,052		5,317,208		5,198,404		4,986,289		4,888,139
Less: Allowance for credit losses	(91,250)		(85,411)		(35,154)		(33,605)		(33,505)
Net Loans	5,680,802		5,231,797		5,163,250		4,952,684		4,854,634
Bank premises and equipment, net	69,041		71,540		66,615		67,873		68,738
Other real estate owned	15,847		14,640		12,390		13,593		11,043
Goodwill	212,146		212,085		205,286		205,286		205,260
Other intangible assets, net	17,950		19,461		20,066		21,318		22,672
Bank owned life insurance	127,954		127,067		126,181		125,277		125,233
Net deferred tax assets	21,404		19,766		16,457		17,168		19,353
Other assets	153,993		145,957		141,740		129,384		133,764
Total Assets	$	8,084,013	$	7,352,894	$	7,108,511	$	6,890,645	$	6,824,886
Liabilities and Shareholders' Equity
Liabilities
Deposits
Noninterest demand	$	2,267,435	$	1,703,628	$	1,590,493	$	1,652,927	$	1,669,804
Interest-bearing demand	1,368,146		1,234,193		1,181,732		1,115,455		1,124,519
Savings	619,251		554,836		519,152		528,214		519,732
Money market	1,232,892		1,124,378		1,108,363		1,158,862		1,172,971
Other time certificates	445,176		489,669		504,837		537,183		553,107
Brokered time certificates	572,465		597,715		472,857		458,418		268,998
Time certificates of more than $250,000	161,418		183,080		207,319		222,082		232,078
Total Deposits	6,666,783		5,887,499		5,584,753		5,673,141		5,541,209
Securities sold under agreements to repurchase	92,125		64,723		86,121		70,414		82,015
Federal Home Loan Bank borrowings	135,000		265,000		315,000		50,000		140,000
Subordinated debt	71,225		71,155		71,085		71,014		70,944
Other liabilities	88,277		72,730		65,913		63,398		60,479
Total Liabilities	7,053,410		6,361,107		6,122,872		5,927,967		5,894,647
Shareholders' Equity
Common stock	5,299		5,271		5,151		5,148		5,146
Additional paid in capital	811,328		809,533		786,242		784,661		782,928
Retained earnings	204,719		179,646		195,813		168,637		143,032
Treasury stock	(8,037)		(7,422)		(6,032)		(6,079)		(6,137)
	1,013,309		987,028		981,174		952,367		924,969
Accumulated other comprehensive income, net	17,294		4,759		4,465		10,311		5,270
Total Shareholders' Equity	1,030,603		991,787		985,639		962,678		930,239
Total Liabilities & Shareholders' Equity	$	8,084,013	$	7,352,894	$	7,108,511	$	6,890,645	$	6,824,886
Common shares outstanding	52,991		52,709		51,514		51,482		51,461

CONSOLIDATED QUARTERLY FINANCIAL DATA	(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
(Amounts in thousands)	2Q'20			1Q'20			4Q'19			3Q'19			2Q'19
Credit Analysis
Net charge-offs - non-acquired loans	$	1,714		$	1,316		$	2,930		$	2,106		$	1,621
Net charge-offs (recoveries) - acquired loans	37			(343)			295			5			220
Total Net Charge-offs	1,751			973			3,225			2,111			1,841
TDR valuation adjustments	$	21		$	24		$	27		$	40		$	27
Net charge-offs to average loans - non-acquired loans	0.12		%	0.10		%	0.23		%	0.17		%	0.13		%
Net charge-offs (recoveries) to average loans - acquired loans	—			(0.03)			0.02			—			0.02
Total Net Charge-offs to Average Loans	0.12			0.07			0.25			0.17			0.15
Provision for credit losses - non-acquired loans	$	5,825		$	25,688		$	4,041		$	2,241		$	2,326
Provision for credit losses - acquired loans	1,786			3,825			759			10			225
Total Provision for Credit Losses	$	7,611		$	29,513		$	4,800		$	2,251		$	2,551
Allowance for credit losses - non-acquired loans	$	73,587		$	69,498		$	34,573		$	33,488		$	33,393
Allowance for credit losses - acquired loans	17,663			15,913			581			117			112
Total Allowance for Credit Losses	$	91,250		$	85,411		$	35,154		$	33,605		$	33,505
Non-acquired loans at end of period	$	4,315,892		$	4,373,378		$	4,317,919		$	4,010,299		$	3,817,358
Acquired loans at end of period	879,710			943,830			880,485			975,990			1,070,781
Paycheck Protection Program loans at end of period	576,450			—			—			—			—
Total Loans	$	5,772,052		$	5,317,208		$	5,198,404		$	4,986,289		$	4,888,139
Non-acquired loans allowance for credit losses to non-acquired loans at end of period	1.71		%	1.59		%	0.80		%	0.84		%	0.87		%
Total allowance for credit losses to total loans at end of period	1.58			1.61			0.68			0.67			0.69
Total allowance for credit losses to total loans, excluding PPP loans	1.76			1.61			0.68			0.67			0.69
Purchase discount on acquired loans at end of period	3.29			3.36			3.83			3.76			3.76
End of Period
Nonperforming loans - non-acquired	$	22,248		$	17,898		$	20,990		$	20,400		$	15,810
Nonperforming loans - acquired	7,803			7,684			5,965			5,644			6,986
Other real estate owned - non-acquired	10,836			10,676			5,177			5,177			66
Other real estate owned - acquired	131			372			372			1,574			1,612
Properties previously used in bank operations included in other real estate owned	4,880			3,592			6,842			6,842			9,365
Total Nonperforming Assets	$	45,898		$	40,222		$	39,346		$	39,637		$	33,839
Restructured loans (accruing)	$	10,338		$	10,833		$	11,100		$	12,395		$	14,534
Nonperforming loans to loans at end of period - non-acquired	0.52		%	0.41		%	0.49		%	0.51		%	0.41		%
Nonperforming loans to loans at end of period - acquired	0.89			0.81			0.68			0.58			0.65
Total Nonperforming Loans to Loans at End of Period	0.52			0.48			0.52			0.52			0.47
Nonperforming assets to total assets - non-acquired	0.47		%	0.44		%	0.46		%	0.47		%	0.37		%
Nonperforming assets to total assets - acquired	0.10			0.11			0.09			0.11			0.13
Total Nonperforming Assets to Total Assets	0.57			0.55			0.55			0.58			0.50
	June 30,			March 31,			December 31,			September 30,			June 30,
Loans	2020			2020			2019			2019			2019
Construction and land development	$	298,835		$	295,405		$	325,113		$	326,324		$	379,991
Commercial real estate - owner occupied	1,076,650			1,082,893			1,034,963			1,025,040			1,005,876
Commercial real estate - non-owner occupied	1,392,787			1,381,096			1,344,008			1,285,327			1,184,409
Residential real estate	1,468,171			1,559,754			1,507,863			1,409,946			1,400,184
Commercial and financial	757,232			796,038			778,252			722,286			701,747
Consumer	201,927			202,022			208,205			217,366			215,932
Paycheck Protection Program	576,450			—			—			—			—
Total Loans	$	5,772,052		$	5,317,208		$	5,198,404		$	4,986,289		$	4,888,139

AVERAGE BALANCES, INTEREST INCOME AND EXPENSES, YIELDS AND RATES 1									(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	2Q'20						1Q'20						2Q'19
	Average				Yield/		Average				Yield/		Average				Yield/
(Amounts in thousands)	Balance		Interest		Rate		Balance		Interest		Rate		Balance		Interest		Rate
Assets
Earning assets:
Securities:
Taxable	$	1,135,698	$	7,573	2.67	%	$	1,152,473	$	8,696	3.02	%	$	1,169,891	$	8,933	3.05	%
Nontaxable	19,347		152		3.14		19,740		152		3.09		24,110		179		2.96
Total Securities	1,155,045		7,725		2.68		1,172,213		8,848		3.02		1,194,001		9,112		3.05
Federal funds sold and other investments	433,626		684		0.63		87,924		734		3.36		91,481		873		3.83
Loans excluding PPP loans	5,304,381		59,861		4.54		5,215,234		63,524		4.90		4,841,751		62,335		5.16
PPP loans	424,171		5,068		4.81		—		—		—		—		—		—
Total Loans	5,728,552		64,929		4.56		5,215,234		63,524		4.90		4,841,751		62,335		5.16
Total Earning Assets	7,317,223		73,338		4.03		6,475,371		73,106		4.54		6,127,233		72,320		4.73
Allowance for credit losses	(84,965)						(56,931)						(32,806)
Cash and due from banks	103,919						90,084						91,160
Premises and equipment	71,173						67,585						69,890
Intangible assets	230,871						226,712						228,706
Bank owned life insurance	127,386						126,492						124,631
Other assets	147,395						126,230						126,180
Total Assets	$	7,913,002					$	7,055,543					$	6,734,994
Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing demand	$	1,298,639	$	297	0.09	%	$	1,173,930	$	834	0.29	%	$	1,118,703	$	1,150	0.41	%
Savings	591,040		165		0.11		526,727		348		0.27		513,773		586		0.46
Money market	1,193,969		741		0.25		1,128,757		2,008		0.72		1,179,345		3,089		1.05
Time deposits	1,293,766		3,820		1.19		1,151,750		4,768		1.67		1,089,020		5,724		2.11
Securities sold under agreements to repurchase	74,717		34		0.18		71,065		167		0.95		91,614		355		1.55
Federal funds purchased and Federal Home Loan Bank borrowings	199,698		312		0.63		250,022		968		1.56		51,571		329		2.56
Other borrowings	71,185		581		3.28		71,114		722		4.08		70,903		868		4.91
Total Interest-Bearing Liabilities	4,723,014		5,950		0.51		4,373,365		9,815		0.90		4,114,929		12,101		1.18
Noninterest demand	2,097,038						1,625,215						1,646,934
Other liabilities	79,855						62,970						61,652
Total Liabilities	6,899,907						6,061,550						5,823,515
Shareholders' equity	1,013,095						993,993						911,479
Total Liabilities & Equity	$	7,913,002					$	7,055,543					$	6,734,994
Cost of deposits					0.31	%					0.57	%					0.76	%
Interest expense as a % of earning assets					0.33	%					0.61	%					0.79	%
Net interest income as a % of earning assets			$	67,388	3.70	%			$	63,291	3.93	%			$	60,219	3.94	%
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
	Six Months Ended June 30, 2020							Six Months Ended June 30, 2019
	Average				Yield/			Average				Yield/
(Amounts in thousands, except ratios)	Balance		Interest		Rate			Balance		Interest		Rate
Assets
Earning assets:
Securities:
Taxable	$	1,144,086	$	16,269	2.84	%		$	1,178,087	$	18,052	3.06	%
Nontaxable	19,544		304		3.11			25,329		369		2.91
Total Securities	1,163,630		16,573		2.85			1,203,416		18,421		3.06
Federal funds sold and other investments	260,775		1,418		1.09			91,310		1,791		3.96
Loans excluding PPP loans	5,259,808		123,385		4.72			4,840,406		124,670		5.19
PPP loans	212,085		5,068		4.81			—		—		—
Total Loans	5,471,893		128,453		4.72			4,840,406		124,670		5.19
Total Earning Assets	6,896,298		146,444		4.27			6,135,132		144,882		4.76
Allowance for credit losses	(70,948)							(32,885)
Cash and due from banks	97,002							95,526
Premises and equipment	69,379							70,411
Intangible assets	228,791							229,382
Bank owned life insurance	126,939							124,172
Other assets	136,811							131,148
Total Assets	$	7,484,272						$	6,752,886
Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing demand	$	1,236,285	$	1,131	0.18	%		$	1,074,460	$	1,989	0.37	%
Savings	558,883		513		0.18			507,097		1,062		0.42
Money market	1,161,363		2,749		0.48			1,169,198		5,647		0.97
Time deposits	1,222,758		8,588		1.41			1,065,812		10,683		2.02
Securities sold under agreements to repurchase	72,891		201		0.55			138,065		905		1.32
Federal funds purchased and Federal Home Loan Bank borrowings	224,860		1,279		1.14			138,989		1,750		2.54
Other borrowings	71,149		1,304		3.69			70,870		1,766		5.03
Total Interest-Bearing Liabilities	4,548,189		15,765		0.70			4,164,491		23,802		1.15
Noninterest demand	1,861,126							1,629,836
Other liabilities	71,413							62,949
Total Liabilities	6,480,728							5,857,276
Shareholders' equity	1,003,544							895,610
Total Liabilities & Equity	$	7,484,272						$	6,752,886
Cost of deposits					0.43	%						0.72	%
Interest expense as a % of earning assets					0.46	%						0.78	%
Net interest income as a % of earning assets			$	130,679	3.81	%				$	121,080	3.98	%
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
	June 30,		March 31,			December 31,		September 30,		June 30,
(Amounts in thousands)	2020		2020			2019		2019		2019
Customer Relationship Funding
Noninterest demand
Commercial	$	1,844,288	$	1,336,352		$	1,233,475	$	1,314,102	$	1,323,743
Retail	314,723		271,916			246,717		241,734		251,879
Public funds	74,674		71,029			85,122		65,869		65,822
Other	33,750		24,331			25,179		31,222		28,360
Total Noninterest Demand	2,267,435		1,703,628			1,590,493		1,652,927		1,669,804
Interest-bearing demand
Commercial	412,846		349,315			319,993		342,376		323,818
Retail	733,772		671,378			641,762		622,833		634,099
Public funds	221,528		213,500			219,977		150,246		166,602
Total Interest-Bearing Demand	1,368,146		1,234,193			1,181,732		1,115,455		1,124,519
Total transaction accounts
Commercial	2,257,134		1,685,667			1,553,468		1,656,478		1,647,561
Retail	1,048,495		943,294			888,479		864,567		885,978
Public funds	296,202		284,529			305,099		216,115		232,424
Other	33,750		24,331			25,179		31,222		28,360
Total Transaction Accounts	3,635,581		2,937,821			2,772,225		2,768,382		2,794,323
Savings	619,251		554,836			519,152		528,214		519,732
Money market
Commercial	586,416		487,759			494,803		513,477		517,041
Retail	579,126		572,785			553,075		583,917		590,320
Public funds	67,350		63,834			60,485		61,468		65,610
Total Money Market	1,232,892		1,124,378			1,108,363		1,158,862		1,172,971
Brokered time certificates	572,465		597,715			472,857		458,418		268,998
Other time certificates	606,594		672,749			712,156		759,265		785,185
	1,179,059		1,270,464			1,185,013		1,217,683		1,054,183
Total Deposits	$	6,666,783	$	5,887,499		$	5,584,753	$	5,673,141	$	5,541,209
Customer sweep accounts	$	92,125	$	64,723		$	86,121	$	70,414	$	82,015

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															Six Months Ended
(Amounts in thousands, except per share data)	2Q'20			1Q'20			4Q'19			3Q'19			2Q'19			2Q'20			2Q'19
Net Income	$	25,080		$	709		$	27,176		$	25,605		$	23,253		$	25,789		$	45,958
Total noninterest income	15,006			14,688			16,376			13,943			13,577			29,694			26,413
Securities (gains) losses, net	(1,230)			(19)			(2,539)			847			466			(1,249)			475
BOLI benefits on death (included in other income)	—			—			—			(956)			—			—			—
Total Adjustments to Noninterest Income	(1,230)			(19)			(2,539)			(109)			466			(1,249)			475
Total Adjusted Noninterest Income	13,776			14,669			13,837			13,834			14,043			28,445			26,888
Total noninterest expense	42,399			47,798			38,057			38,583			41,000			90,197			84,099
Merger related charges	(240)			(4,553)			(634)			—			—			(4,793)			(335)
Amortization of intangibles	(1,483)			(1,456)			(1,456)			(1,456)			(1,456)			(2,939)			(2,914)
Business continuity expenses	—			(307)			—			(95)			—			(307)			—
Branch reductions and other expense initiatives	—			—			—			(121)			(1,517)			—			(1,725)
Total Adjustments to Noninterest Expense	(1,723)			(6,316)			(2,090)			(1,672)			(2,973)			(8,039)			(4,974)
Total Adjusted Noninterest Expense	40,676			41,482			35,967			36,911			38,027			82,158			79,125
Income Taxes	7,188			(155)			8,103			8,452			6,909			7,033			13,318
Tax effect of adjustments	121			1,544			(110)			572			874			1,665			1,384
Effect of change in corporate tax rate on deferred tax assets	—			—			—			(1,135)			—			—			—
Total Adjustments to Income Taxes	121			1,544			(110)			(563)			874			1,665			1,384
Adjusted Income Taxes	7,309			1,389			7,993			7,889			7,783			8,698			14,702
Adjusted Net Income	$	25,452		$	5,462		$	26,837		$	27,731		$	25,818		$	30,914		$	50,023
Earnings per diluted share, as reported	$	0.47		$	0.01		$	0.52		$	0.49		$	0.45		$	0.49		$	0.88
Adjusted Earnings per Diluted Share	0.48			0.10			0.52			0.53			0.50			0.59			0.96
Average diluted shares outstanding	53,308			52,284			52,081			51,935			51,952			52,807			51,998
Adjusted Noninterest Expense	$	40,676		$	41,482		$	35,967		$	36,911		$	38,027		$	82,158		$	79,125
Foreclosed property expense and net (loss)/gain on sale	(245)			315			(3)			(262)			174			70			214
Net Adjusted Noninterest Expense	$	40,431		$	41,797		$	35,964		$	36,649		$	38,201		$	82,228		$	79,339
Revenue	$	82,278		$	77,865		$	78,136		$	74,891		$	73,713		$	160,143		$	147,323
Total Adjustments to Revenue	(1,230)			(19)			(2,539)			(109)			466			(1,249)			475
Impact of FTE adjustment	116			114			86			79			83			230			170
Adjusted Revenue on a fully taxable equivalent basis	$	81,163		$	77,961		$	75,684		$	74,861		$	74,262		$	159,124		$	147,968
Adjusted Efficiency Ratio	49.81		%	53.61		%	47.52		%	48.96		%	51.44		%	51.68		%	53.62		%
Net Interest Income	$	67,272		$	63,177		$	61,760		$	60,948		$	60,136		$	130,449		$	120,910
Impact of FTE adjustment	116			114			86			79			83			230			170
Net Interest Income including FTE adjustment	$	67,388		$	63,291		$	61,846		$	61,027		$	60,219		$	130,679		$	121,080
Total noninterest income	15,006			14,688			16,376			13,943			13,577			29,694			26,413
Total noninterest expense	42,399			47,798			38,057			38,583			41,000			90,197			84,099
Pre-Tax Pre-Provision Earnings	$	39,995		$	30,181		$	40,165		$	36,387		$	32,796		$	70,176		$	63,394
Total Adjustments to Noninterest Income	(1,230)			(19)			(2,539)			(109)			466			(1,249)			475
Total Adjustments to Noninterest Expense	(1,723)			(6,316)			(2,090)			(1,672)			(2,973)			(8,039)			(4,974)
Adjusted Pre-Tax Pre-Provision Earnings	$	40,488		$	36,478		$	39,716		$	37,950		$	36,235		$	76,966		$	68,843
Average Assets	$	7,913,002		$	7,055,543		$	6,996,214		$	6,820,576		$	6,734,994		$	7,484,272		$	6,752,886
Less average goodwill and intangible assets	(230,871)			(226,712)			(226,060)			(227,389)			(228,706)			(228,791)			(229,382)
Average Tangible Assets	$	7,682,131		$	6,828,831		$	6,770,154		$	6,593,187		$	6,506,288		$	7,255,481		$	6,523,504
Return on Average Assets (ROA)	1.27		%	0.04		%	1.54		%	1.49		%	1.38		%	0.69		%	1.37		%
Impact of removing average intangible assets and related amortization	0.10			0.07			0.12			0.12			0.12			0.09			0.12
Return on Average Tangible Assets (ROTA)	1.37			0.11			1.66			1.61			1.50			0.78			1.49
Impact of other adjustments for Adjusted Net Income	(0.04)			0.21			(0.09)			0.06			0.09			0.08			0.06
Adjusted Return on Average Tangible Assets	1.33			0.32			1.57			1.67			1.59			0.86			1.55

GAAP TO NON-GAAP RECONCILIATION				(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	Quarterly Trends																Six Months Ended
(Amounts in thousands, except per share data)	2Q'20			1Q'20			4Q'19				3Q'19			2Q'19			2Q'20			2Q'19
Average Shareholders' Equity	$	1,013,095		$	993,993		$	976,200			$	946,670		$	911,479		$	1,003,544		$	895,610
Less average goodwill and intangible assets	(230,871)			(226,712)			(226,060)				(227,389)			(228,706)			(228,791)			(229,382)
Average Tangible Equity	$	782,224		$	767,281		$	750,140			$	719,281		$	682,773		$	774,753		$	666,228
Return on Average Shareholders' Equity	9.96		%	0.29		%	11.04		%		10.73		%	10.23		%	5.17		%	10.35		%
Impact of removing average intangible assets and related amortization	3.51			0.66			3.91				4.00			4.07			2.10			4.22
Return on Average Tangible Common Equity (ROTCE)	13.47			0.95			14.95				14.73			14.30			7.27			14.57
Impact of other adjustments for Adjusted Net Income	(0.38)			1.91			(0.76)				0.57			0.87			0.75			0.57
Adjusted Return on Average Tangible Common Equity	13.09			2.86			14.19				15.30			15.17			8.02			15.14
Loan interest income excluding PPP and accretion on acquired loans	$	56,873		$	59,237		$	59,515			$	59,279		$	58,169		$	116,110		$	116,566
Accretion on acquired loans	2,988			4,287			3,407				3,859			4,166			7,275			8,104
Interest and fees on PPP loans	5,068			—			—				—			—			5,068			—
Loan interest income1	$	64,929		$	63,524		$	62,922			$	63,138		$	62,335		$	128,453		$	124,670
Yield on loans excluding PPP and accretion on acquired loans	4.31		%	4.57		%	4.63		%		4.76		%	4.82		%	4.44		%	4.86		%
Impact of accretion on acquired loans	0.21			0.33			0.26				0.30			0.34			0.27			0.33
Impact of PPP loans	0.04			—			—				—			—			0.01			—
Yield on loans	4.56			4.90			4.89				5.06			5.16			4.72			5.19
Net interest income excluding PPP and accretion on acquired loans	$	59,332		$	59,004		$	58,439			$	57,168		$	56,053		$	118,336		$	112,976
Accretion on acquired loans	2,988			4,287			3,407				3,859			4,166			7,275			8,104
Interest and fees on PPP loans	5,068			—			—				—			—			5,068			—
Net Interest Income1	$	67,388		$	63,291		$	61,846			$	61,027		$	60,219		$	130,679		$	121,080
Net interest margin excluding accretion on acquired loans	3.46		%	3.66		%	3.63		%		3.64		%	3.67		%	3.56		%	3.71		%
Impact of accretion on acquired loans	0.16			0.27			0.21				0.25			0.27			0.21			0.27
Impact of PPP loans	0.08			—			—				—			—			0.04			—
Net Interest Margin	3.70			3.93			3.84				3.89			3.94			3.81			3.98
Security interest income excluding tax equivalent adjustment	$	7,694		$	8,818		$	8,630			$	8,933		$	9,076		$	16,512		$	18,346
Tax equivalent adjustment on securities	31			30			32				33			36			61			75
Security interest income1	$	7,725		$	8,848		$	8,662			$	8,966		$	9,112		$	16,573		$	18,421
Loan interest income excluding tax equivalent adjustment	$	64,844		$	63,440		$	62,868			$	63,092		$	62,288		$	128,284		$	124,575
Tax equivalent adjustment on loans	85			84			54				46			47			169			95
Loan interest income1	$	64,929		$	63,524		$	62,922			$	63,138		$	62,335		$	128,453		$	124,670
Net interest income excluding tax equivalent adjustment	$	67,272		$	63,177		$	61,760			$	60,948		$	60,136		$	130,449		$	120,910
Tax equivalent adjustment on securities	31			30			32			0	33			36			61			75
Tax equivalent adjustment on loans	85			84			54				46			47			169			95
Net Interest Income1	$	67,388		$	63,291		$	61,846			$	61,027		$	60,219		$	130,679		$	121,080
1On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost.

EX-99.2

Earnings Presentation SECOND QUARTER 2020 RESULTS Contact: (email) Tracey.Dexter@SeacoastBank.com (phone) 772.403.0461 (web) www.SeacoastBanking.com

Cautionary Notice Regarding Forward-Looking Statements This press release contains “forward-looking statements” within the meaning, and protections, of banking industry; our concentration in commercial real estate loans; the failure of assumptions and Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, estimates, as well as differences in, and changes to, economic, market and credit conditions; the including, without limitation, statements about future financial and operating results, cost savings, impact on the valuation of our investments due to market volatility or counterparty payment risk; enhanced revenues, economic and seasonal conditions in our markets, and improvements to reported statutory and regulatory dividend restrictions; increases in regulatory capital requirements for earnings that may be realized from cost controls, tax law changes, new initiatives and for integration banking organizations generally; the risks of mergers, acquisitions and divestitures, including our of banks that we have acquired, or expect to acquire, including FBPB and Fourth Street, as well as ability to continue to identify acquisition targets and successfully acquire desirable financial statements with respect to Seacoast's objectives, strategic plans, including Vision 2020, expectations institutions; changes in technology or products that may be more difficult, costly, or less effective and intentions and other statements that are not historical facts, any of which may be impacted by than anticipated; our ability to identify and address increased cybersecurity risks; inability of our risk the COVID-19 pandemic and related effects on the U.S. economy. Actual results may differ from those management framework to manage risks associated with our business; dependence on key suppliers set forth in the forward-looking statements. 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 Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, strategy; the effects of war or other conflicts, acts of terrorism, natural disasters, health emergencies, expectations, anticipations, assumptions, estimates and intentions about future performance, and epidemics or pandemics, or other catastrophic events that may affect general economic conditions; involve known and unknown risks, uncertainties and other factors, which may be beyond our control, unexpected outcomes of and the costs associated with, existing or new litigation involving us; our and which may cause the actual results, performance or achievements of Seacoast to be materially ability to maintain adequate internal controls over financial reporting; potential claims, damages, different from future results, performance or achievements expressed or implied by such forward- penalties, fines and reputational damage resulting from pending or future litigation, regulatory looking statements. You should not expect us to update any forward-looking statements. 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 All statements other than statements of historical fact could be forward-looking statements. You can currently estimated and sales of our capital stock could trigger a reduction in the amount of net identify these forward-looking statements through our use of words such as “may”, “will”, operating loss carryforwards that we may be able to utilize for income tax purposes; the effects of “anticipate”, “assume”, “should”, “support”, “indicate”, “would”, “believe”, “contemplate”, “expect”, competition from other commercial banks, thrifts, mortgage banking firms, consumer finance “estimate”, “continue”, “further”, “plan”, “point to”, “project”, “could”, “intend”, “target” or other companies, credit unions, securities brokerage firms, insurance companies, money market and other similar words and expressions of the future. These forward-looking statements may not be realized mutual funds and other financial institutions operating in our market areas and elsewhere, including due to a variety of factors, including, without limitation: the effects of future economic and market institutions operating regionally, nationally and internationally, together with such competitors conditions, including seasonality and the adverse impact of COVID-19 (economic and otherwise); offering banking products and services by mail, telephone, computer and the Internet; and the failure governmental monetary and fiscal policies, including interest rate policies of the Board of Governors of assumptions underlying the establishment of reserves for possible loan losses. of the Federal Reserve, as well as legislative, tax and regulatory changes; changes in accounting policies, rules and practices, including the impact of the adoption of CECL; the risks of changes in All written or oral forward-looking statements attributable to us are expressly qualified in their interest rates on the level and composition of deposits, loan demand, liquidity and the values of loan entirety by this cautionary notice, including, without limitation, those risks and uncertainties collateral, securities, and interest sensitive assets and liabilities; interest rate risks, sensitivities and described in our annual report on Form 10-K for the year ended December 31, 2019, and quarterly the shape of the yield curve; uncertainty related to the impact of LIBOR calculations on securities and report on Form 10-Q for the quarter ended March 31, 2020 under “Special Cautionary Notice loans; changes in borrower credit risks and payment behaviors; changes in the availability and cost of Regarding Forward-Looking Statements” and “Risk Factors”, and otherwise in our SEC reports and credit and capital in the financial markets; changes in the prices, values and sales volumes of filings. Such reports are available upon request from the Company, or from the Securities and residential and commercial real estate; our ability to comply with any regulatory requirements; the Exchange Commission, including through the SEC’s Internet website at www.sec.gov. effects of problems encountered by other financial institutions that adversely affect us or the SECOND QUARTER 2020 EARNINGS PRESENTATION 2

Valuable Florida Franchise, Well Positioned with Strong Capital, Liquidity and Disciplined Credit Culture Seacoast Customer Map • $8.1 billion in assets as of June 30, • Highly disciplined credit portfolio 2020, operating in the nation’s third- most populous state • Prudent liquidity position • Strong and growing presence in four of Florida’s most attractive MSAs • Strong capital position ▪ #1 Florida-based bank in the Orlando MSA • Steady increase in shareholder value ▪ Growing share in West Palm Beach with tangible book value per share increasing 11% year-over-year ▪ #2 share in Port St Lucie MSA ▪ Growing presence in Tampa MSA • Active board with a diverse range of • Market Cap: $1.1 billion as of June 30, experience and expertise 2020 Valuable Florida Franchise with Disciplined Growth Strategy, Benefiting from Fortress Balance Sheet with Robust Capital Generation, Prudent Liquidity Position, and Strict Credit Underwriting SECOND QUARTER 2020 EARNINGS PRESENTATION 3

COVID-19 Response Associates Operations and Service Levels • Substantially all non-retail associates working • Branches are open for appointments and drive-thru remotely • Heightened cleaning and protection protocols • Staggering shifts and locations, including for • Expanded call center staffing to support heightened leadership call volumes and distributed teams across three • Restricted travel for all associates locations. • All COVID-related medical treatment is free to • Customers are utilizing mobile and digital solutions, associates video chat, and interactive voice response tools • No visitors in operations centers • All ATMs fully accessible Relief Programs • Seacoast is an SBA Preferred Lender, actively supporting access for our customers to the Paycheck Protection Program (“PPP”) utilizing our fully digital origination platform. $591 million in total PPP loans were processed under the program through June 30, 2020. • Offering loan payment deferrals of three to six months upon request, with approximately 2,500 loans totaling $1.1 billion with deferred payments at June 30, 2020 SECOND QUARTER 2020 EARNINGS PRESENTATION 4

Seacoast’s Integrated Delivery Model Has Enabled The Bank To Effectively Serve Customers Throughout The Pandemic SECOND QUARTER 2020 EARNINGS PRESENTATION All metrics as of 2Q'20 5

Consistent Growth in NII, NIM Impacted by Lower Rates and Liquidity ($ In Thousands) $67,388 $63,291 $60,219 $61,027 $61,846 3.94% 3.89% 3.93% 3.84% 3.70% 3.67% 3.64% 3.63% 3.66% 3.54% 3.46% 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 Net Interest Income Net Interest Margin NIM, excluding accretion on acquired loans NIM, excluding PPP and accretion on acquired loans • Net interest income1 totaled $67.4 million, up $4.1 million or 6% from the prior quarter and up $7.2 million or 12% from the second quarter of 2019. Net interest margin1 decreased 23 basis points to 3.70% quarter-over-quarter. The decline is attributed to increased levels of liquidity and lower accretion as a result of lower prepayments. • The effect of accretion on acquired loans on net interest margin was 16 basis points in the current quarter compared to 27 basis points in the prior quarter. The effect of interest and fees earned on PPP loans was 8 basis points in the second quarter of 2020. SECOND QUARTER 2020 EARNINGS PRESENTATION 1Calculated on a fully taxable equivalent basis using amortized cost 6

Continued Strong Performance in Noninterest Income 1 Noninterest Income ($ in thousands) Adjusted Noninterest Income ($ in thousands) $14,688 $15,006 $14,669 $14,043 $13,577 $886 $887 $886 $13,776 $927 $927 $887 $3,534 $3,516 $2,704 $3,497 $2,304 BOLI $2,238 BOLI 2 3 Other Income $691 $139 $181 Other Income $691 $139 $181 SBA Gains $1,734 $2,208 SBA Gains $1,734 $2,208 Mortgage Banking $3,559 Mortgage Banking $3,559 Wealth Management $1,688 Wealth Management $1,688 Interchange Income $1,868 Interchange Income $1,868 Service Charges $1,719 Service Charges $1,719 $3,405 $3,246 $3,405 $3,246 $3,187 $3,187 $2,894 $2,825 $1,939 $2,894 $2,825 $1,939 2Q'19 1Q'20 2Q'20 2Q'19 1Q'20 2Q'20 Noninterest income increased $0.3 million sequentially to $15.0 million, and adjusted noninterest income1 decreased $0.9 million to $13.8 million sequentially. Results for the second quarter of 2020 included $1.2 million in realized gain on sales of securities. Other changes include: • Mortgage banking fees increased $1.4 million, or 61%, in the second quarter of 2020 to a record $3.6 million, reflecting continued strong demand in the residential refinance market and strength in the Florida housing market. • Seacoast's wealth management division reported a record-breaking quarter of new production in assets under management totaling $125.0 million. A majority of the new assets under management came late in the quarter, which should benefit revenue in future periods. • With higher customer deposit balances related to the effects of the COVID-19 pandemic, service charges on deposits decreased $0.9 million compared to the first quarter of 2020. • A decrease of $1.2 million in other income reflects the recognition of $0.9 million in revenue from SBIC investments in the first quarter of 2020. The remaining decline is primarily related to fees waived to assist customers in the COVID-19 pandemic. 1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP SECOND QUARTER 2020 EARNINGS PRESENTATION 2Other Income includes marine finance fees, swap related income and other fees related to customer activity as well as securities gains of $1.2 million in 2Q'20 and $19 thousand in 1Q'20 and securities losses of $0.5 million in 2Q'19. 7 3Other Income on an adjusted basis includes marine finance fees, swap related income and other fees related to customer activity.

Continued Focus on Disciplined Expense Control 1 Noninterest Expense ($ in thousands) Adjusted Noninterest Expense ($ in thousands) $47,798 $4,703 $42,399 $41,000 $41,482 $3,363 $40,676 $5,441 $38,027 $4,842 $4,570 2 $5,518 Other Expense $5,690 $2,277 Other Expense 2 $4,769 $2,242 Legal & Professional $2,033 Legal & Professional $2,044 Occupancy & Telephone $4,633 $5,534 Occupancy & Telephone $2,033 $5,433 Data Processing Cost $6,178 $5,522 Data Processing Cost Amortization of intangibles $1,456 $5,858 $4,059 Salaries & Benefits $3,798 Salaries & Benefits $3,876 $4,067 $1,456 $1,483 $3,876 $27,953 $25,439 $22,615 $23,605 $21,491 $23,525 2Q'19 1Q'20 2Q'20 2Q'19 1Q'20 2Q'20 Noninterest expense decreased $5.4 million and adjusted noninterest expense1 decreased $0.8 million sequentially. Results for the second quarter include $0.2 million of merger-related costs compared to $4.9 million in the first quarter of 2020. Merger-related costs are excluded on an adjusted basis. Changes quarter-over-quarter on an adjusted basis include: • Salaries and benefits combined decreased by $1.9 million. Higher loan production driven by the PPP program resulted in higher deferrals of related salary costs in accordance with ASC 310-20, lowering costs by $2.9 million. An additional $0.9 million decrease resulted from the seasonal impact on the first quarter of higher payroll taxes and 401(k) contributions and lower health insurance costs. Offsetting increases in the second quarter resulted from the addition of staff from the First Bank of the Palm Beaches acquisition and temporary staffing in the customer support center to accommodate increased call volumes associated with the COVID-19 pandemic operating environment. • Data processing costs increased by $0.3 million, the result of higher lending-related costs to support the administration of the PPP program. • Other expenses increased by $0.9 million and include $0.3 million for the return of FDIC assessment expense in the second quarter after applying all available credits, $0.2 million build to the reserve for unfunded commitments, and increases related to the administration of PPP and other expenses. 1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a SECOND QUARTER 2020 EARNINGS PRESENTATION reconciliation to GAAP 2Other Expense includes marketing expenses and other expenses associated with ongoing business operations. 8

Efficiency Ratio Trend GAAP - Efficiency Adjusted - Efficiency1 74% 66% 64% 61% 60% 59% 58% 58% 57% 58% 57% 57% 57% 56% 56% 54% 53% 53% 54% 51% 50% 50% 49% 49% 48% 48% 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 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 • The efficiency ratio was 50.1% compared to 59.8% in the prior quarter and 53.5% in the second quarter of 2019. • The adjusted efficiency ratio1 was 49.8% compared to 53.6% in the prior quarter and 51.4% in the second quarter of 2019, with the first quarter impacted by typical seasonality. SECOND QUARTER 2020 EARNINGS PRESENTATION 1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP 9

Loan Growth Increased as a Result of PPP Production Total Loans Outstanding ($ in millions) $5,772 • As of June 30, Seacoast has approved over 5,000 loans $5,198 $5,317 $576 under the Paycheck Protection Program ("PPP") totaling $4,888 $4,986 $5,196 $576 million. • Loans outstanding totaled $5.8 billion, an increase of $884 million, or 18%, year-over-year. 5.16% 5.06% • Excluding PPP, loans outstanding decreased by $121 million, 4.89% 4.90% or 2% quarter-over-quarter. 4.56% 4.82% 4.76% • New loan originations of $902 million, compared to $323 4.63% million in the prior quarter, contributed to net loan growth 4.57% 4.35% in the quarter of 34% on an annualized basis. Excluding PPP 4.31% originations, new loan originations were $311 million, a decrease of $13 million from the prior quarter. • Exiting the second quarter of 2020 , pipelines were $117 million in commercial, $31 million in consumer, and $108 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 million in residential mortgages. Yield Excluding PPP Yield Excluding Reported Yield and Accretion on Accretion on Acquired Loans Acquired Loans PPP Loans Loans Excluding PPP SECOND QUARTER 2020 EARNINGS PRESENTATION 10

Seacoast's Lending Strategy Has Resulted in a Diverse Loan Portfolio At June 30, 2020 ($ in thousands) Paycheck Acquisition, Protection Development Program & Construction • Construction and land development and commercial $576,450 $298,835 10% 5% real estate loans, as defined in regulatory guidance, Consumer Owner Occupied represent 32% and 176%, respectively, of total $201,927 Commercial Real Estate 3% $1,076,650 consolidated risk based capital. 19% • Portfolio diversification in terms of asset mix, industry, Commercial and loan type, has been a critical element of the & Financial Company's lending strategy. Exposure across $757,232 industries and collateral types is broadly distributed. 13% • The Company does not have any purchased loan syndications, shared national credits, or mezzanine finance. • Since the outbreak of COVID-19, the Company has not experienced any material increase in consumer or commercial line utilization. Commercial Real Estate • Excluding PPP loans, Seacoast's average commercial Residential loan size is $384 thousand. Real Estate $1,392,787 $1,468,171 24% 25% SECOND QUARTER 2020 EARNINGS PRESENTATION 11

Paycheck Protection Program ($ in thousands) PPP Balance # of PPP Loans 4,722 $301,206 $213,688 $61,557 322 23 Loan size < $350 Loan size $350 to $2,000 Loan size > $2,000 • $576.5 million outstanding at June 30, 2020, net of • Average SBA fee of 3.84%. deferred fees. • $5.1 million in interest and fees recognized in the second • Average loan size of $116,000. quarter of 2020, resulting in a yield of 4.81%. • Median loan size of $43,000. • $13 million in remaining deferred fees will be recognized • Repayment is guaranteed by the U.S. government; no in future periods with the timing dependent upon allowance for credit losses has been established. expectations of the timing of SBA forgiveness. SECOND QUARTER 2020 EARNINGS PRESENTATION 12

Deferred Loans At June 30, 2020 ($ in millions) Deferred Loans Loans Not Deferred 10% 32% $148 30% $445 $320 17% $1,320 $131 $947 $14 5% $756 $626 $18 9% $284 $184 Acquisition, Owner Occupied Commercial Residential Commercial Consumer Development Commercial Real Estate Real Estate Real Estate & Financial & Construction • At June 30, 2020, approximately 2,500 loans totaling $1.1 billion, or 21% of total loans excluding PPP, were on payment deferral. • 11% of deferred loans (by count) also obtained PPP funding. SECOND QUARTER 2020 EARNINGS PRESENTATION 13

Deferred Loans At June 30, 2020 ($ in millions) New Deferrals Deferral Expirations $583 $512 $339 $245 $110 $110 $115 $68 $46 $27 Mar Apr May Jun Jul Aug Sep Oct Nov Dec Payments are scheduled to resume on 39% of deferred loans in the third quarter of 2020 and 61% of deferred loans in the fourth quarter of 2020. SECOND QUARTER 2020 EARNINGS PRESENTATION 14

OOCRE, CRE and AD&C Loans are Widely Distributed Across Asset Type and Industry Acquisition, OOCRE & Development Commercial & % of Total % of Category ($ in thousands) Real Estate Construction Total Loans Deferred Loans Deferred Office Building $ 708,635 $ 10,153 $ 718,788 12% $ 196,419 27% Retail 445,664 18,744 464,408 8% 177,528 38% Industrial & Warehouse 346,642 21,512 368,154 6% 74,995 20% Other Commercial Property 234,827 — 234,827 4% 67,364 29% Apartment Building / Condominium 199,038 26,887 225,925 4% 26,186 12% Health Care 193,230 20,967 214,197 4% 55,823 26% Hotel / Motel 121,955 — 121,955 2% 107,530 88% Vacant Lot — 74,304 74,304 1% 9,522 13% 1-4 Family Residence - Individual Borrowers — 73,197 73,197 1% 959 1% Convenience Store 55,775 — 55,775 1% 13,377 24% 1-4 Family Residence - Spec Home 2,258 47,152 49,410 1% — —% Restaurant 42,990 1,173 44,163 1% 27,109 61% Church 26,816 — 26,816 —% 5,274 20% School / Education 20,450 1,750 22,200 —% 9,350 42% Agriculture 22,027 — 22,027 —% 171 1% Manufacturing Building 18,658 — 18,658 —% 1,556 8% Recreational Property 14,217 — 14,217 —% 6,028 42% Other 16,256 2,996 19,252 —% 1,015 5% Total $ 2,469,438 $ 298,835 $ 2,768,273 48% $ 780,206 28% SECOND QUARTER 2020 EARNINGS PRESENTATION 15

The Commercial & Financial Portfolio Exhibits Significant Industry Diversification Commercial & % of Total % of Category ($ in thousands) Financial % of Total Loans Loans Deferred Loans Deferred Management of Companies1 $ 163,322 3% 4% $ 36,254 22% Professional, Scientific, Technical & Other Services 87,487 2% 2% 10,466 12% Construction 83,293 1% 1% 5,456 7% Real Estate Rental & Leasing 77,464 1% 1% 12,954 17% Heathcare & Social Assistance 52,107 1% 1% 12,532 24% Finance & Insurance 50,445 1% 1% 1,145 2% Manufacturing 41,050 1% 1% 3,767 9% Wholesale Trade 35,258 1% 1% 19,915 56% Transportation & Warehousing 34,453 1% 1% 7,647 22% Retail Trade 26,670 —% —% 5,060 19% Education 17,647 —% —% 468 3% Administrative & Support 13,523 —% —% 1,852 14% Accommodation & Food Services 14,497 —% —% 8,502 59% Public Administration 13,068 —% —% — —% Agriculture 12,221 —% —% 53 —% Other Industries 34,727 1% 1% 4,806 14% Total $ 757,232 13% 13% $ 130,877 17% SECOND QUARTER 2020 EARNINGS PRESENTATION 1Primarily corporate aircraft and marine vessels associated with high net worth individuals 16

Investment Securities Performance and Composition Portfolio yield declined 34 basis points to 2.68% from 3.02% in the prior quarter. 1Q'20 yield included 22 basis points of Agency CMBS make- whole prepayments, which declined to 11 basis points in 2Q'20, while the remainder of the yield decline can be attributed to faster prepays, rate resets, and lower yielding portfolio additions in the second quarter. The net unrealized gain increased from $15.1 million to $31.5 million, largely due to CLO appreciation from March levels. $1.2 million in gains on the sale of securities in the second quarter of 2020 included the repositioning of CLOs, with "A" rated securities sold and replaced with "AAA" rated securities. Unrealized Gain (Loss) in Securities as of June 30, 2020 Investment Securites Yield Amortized Unrealized Unrealized $1,202 $1,163 $1,203 (in thousands) Cost Gains Loss Fair Value Available for Sale Government backed $ 8,981 $ 418 $ (1) $ 9,398 Agency mortgage backed 636,528 24,747 (90) 661,185 Private label MBS and CMOs 75,756 1,645 (550) 76,851 $915 $910 $976 Municipal 27,819 1,958 (3) 29,774 CLO 204,258 3 (5,444) 198,817 ($ in thousands) 3.05% 3.02% Total Available for Sale $ 953,342 $ 28,771 $ (6,088) $ 976,025 2.68% $287 $252 $227 Held to Maturity Agency mortgage backed $ 227,092 $ 8,860 $ (6) $ 235,946 2Q'19 1Q'20 2Q'20 Total Held to Maturity $ 227,092 $ 8,860 $ (6) $ 235,946 HTM Securities AFS Securities Yield Total Securities $ 1,180,434 $ 37,631 $ (6,094) $ 1,211,971 SECOND QUARTER 2020 EARNINGS PRESENTATION 17

Investment Securities Performance and Composition Our portfolio remains primarily backed by U.S. government agencies. Non-guaranteed mortgage bonds are absent any hotels, shopping, or industrial exposure and is 100% comprised of housing collateral. The CLO portfolio includes only AAA and AA bonds. Investment Securities Ratings CLO Portfolio Non-Agency Mortgage Portfolio 2% 29% 2% Single Family 10% AAA 48% 52% AA Multi Family 71% Agency 13% AAA AA+ to AA- ($ in thousands) A+ to A- Other % of Credit Loan Level Collateral % of Credit Unrealized 73% CLO Rating Portfolio1 Support2 Market OC3 Type Portfolio Support1 Gain/(Loss) AAA 9% 36% 143% Single AA 8% 26% 126% Family 5% 27% $ (14) Portfolio 17% 31% 135% Multi Family 2% 11% 1,109 1Percentages based on face value 2Source Data (Bloomberg) Portfolio 7% 22% $ 1,095 3Loan Level Market Over-Collateralization calculated using market value of portfolio loans plus cash divided by liabilities 1Percentages based on face value SECOND QUARTER 2020 EARNINGS PRESENTATION 18

Strong Deposit Franchise Supported by Attractive Markets Deposits Outstanding ($ in millions) • Total deposits increased $779 million, or 13% , $6,667 quarter-over-quarter and increased $1.1 billion, or 20%, compared to the second quarter of 2019. $5,887 $1,179 $5,541 $5,673 $5,585 • Overall cost of deposits decreased to 31 basis points $1,270 from 57 basis points in the prior quarter, reflecting $1,054 $1,218 $1,185 the impact of rate cuts by the Federal Reserve $1,852 during the first quarter of 2020. $1,679 $1,693 $1,687 • Transaction accounts increased 30% year-over-year, $1,628 reflecting continued strong growth in core customer balances, and represent 55% of overall deposit 55% funding. $3,636 • Second quarter balances include a decrease of $25 $2,794 $2,768 $2,772 $2,938 million in brokered deposits. 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 Transaction Accounts Savings & Money Market Time Deposits SECOND QUARTER 2020 EARNINGS PRESENTATION 19

Cost of Deposits Deposit Mix and Cost of Deposits Trended Cost of Deposits 0.76% 0.73% 0.61% 0.57% 0.31% Fed Funds Cost of Deposits 9% 9% 9% 9% 9% 2.50%2.50%2.50% 20% 20% 21% 21% 20% 2.25% 2.00% 2.00% Cost of Deposits 1.75% 1.75% 21% 21% 20% 20% 18% Savings 1.50% Int Bearing Demand Money Market 11% 1.25%1.25% Time Deposits 14% 14% 14% 13% Brokered Deposits 1.00% 10% Non-Int Bearing 6% 7% 6% 8% 0.75% 0.76%0.73% 0.67% 0.61%0.57% 0.50% 0.54% 0.39%0.43% 32% 0.29%0.33% 0.31% 30% 29% 30% 29% 0.22% 0.25% 0.15%0.14%0.14%0.17% 0.25% 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 3Q'164Q'16 1Q'172Q'17 3Q'174Q'17 1Q'18 2Q'183Q'18 4Q'181Q'19 2Q'193Q'19 4Q'191Q'20 2Q'20 Our focus on organic growth and relationship-based funding, in combination with our innovative analytics platform, supports a well-diversified low-cost deposit portfolio. SECOND QUARTER 2020 EARNINGS PRESENTATION 20

Continued Strong Asset Quality Trends Through Second Quarter ($ in thousands) Net Charge-Offs Nonperforming Loans NCO NCO / Loans NPL - Non-Acquired NPL- Acquired Total NPL Ratio $3,225 $7,803 $5,965 $2,111 $5,644 $7,684 $1,841 $22,248 $1,751 $6,986 $20,400 $20,990 $17,898 $973 $15,810 0.25% 0.15% 0.17% 0.07% 0.12% 0.47% 0.52% 0.52% 0.48% 0.52% 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 1 2 Allowance for Credit Losses Classified and Criticized Assets ACL ACL Ratio ACL Ratio to Classified Criticized Excluding PPP Total Loans $85,411 $91,250 3% 3% 3% 3% 3% $33,505 $33,605 $35,154 1.61% 1.76% 12% 0.69% 0.67% 0.68% 11% 10% 1.61% 1.58% 9% 9% 0.69% 0.67% 0.68% 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 SECOND QUARTER 2020 EARNINGS PRESENTATION 1Adoption of CECL on January 1, 2020 resulted in an increase of $21.2 million, from 0.80% to 1.08% 2As a percentage of total risk-based capital 21

Conservative Liquidity Position Total liquidity resources of $3.7 billion at June 30, $3,681 2020: • Cash and cash equivalents of $524 million $3,372 • Unsecured lines of credit of $135 million $3,141 • Lines of credit under lendable collateral value of $1.4 billion $1,646 • $882 million debt securities and $764 million $1,681 loans available as collateral for potential borrowings $1,680 • Availability under PPP Liquidity Funding Available Collateral Lines Available Program up to all PPP loans outstanding. Unsecured Lines Cash & Cash Equivalents ($ in millions) Outstanding at June 30, 2020: $1,376 • $572 million Brokered CDs with an average rate of 1.05%, $339 million of which mature in $1,216 2020 $1,171 • $135 million FHLB advances with an average $135 rate of 0.67%, $80 million of which mature in $160 $524 2020 $130 $315 $160 2Q'19 1Q'20 2Q'20 SECOND QUARTER 2020 EARNINGS PRESENTATION 22

Strong Capital Tangible Book Value / Book Value Per Share Tangible Common Equity / Tangible Assets Tangible Book Value Per Share Book Value Per Share $19.45 11.1% 11.1% $18.70 $19.13 $18.82 10.7% 10.7% $18.08 10.2% $15.11 $14.30 $14.76 $14.42 $13.65 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 Return on Tangible Common Equity Total Risk Based and Tier 1 Capital 1 GAAP - ROTCE Adjusted - ROTCE Total Risk Based Capital Tier 1 Ratio 17.6% 16.5% 16.4% 15.2% 15.3% 15.0% 15.5% 15.7% 15.5% 14.3% 14.7% 14.2% 15.2% 14.6% 14.9% 15.0% 13.5% 13.1% 10.0%2 8.0%2 2.9% 1.0% 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 SECOND QUARTER 2020 EARNINGS PRESENTATION 1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP 23 2FDICIA defines well capitalized as 10.0% for total risk based capital and 8.0% for Tier 1 ratio at a total Bank level

Steady Increase in Shareholder Value $15.11 $14.76 $14.30 $14.42 $13.65 $12.98 $12.33 $12.01 $11.67 $11.39 $11.15 $10.95 $10.55 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 • Compounded annual growth rate of 12% in tangible book value per share in the last three years. • 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. Tangible book value per share was also modestly impacted by the acquisition of FBPB. SECOND QUARTER 2020 EARNINGS PRESENTATION 24

Contact Details: Seacoast Banking Corporation of Florida Tracey L. Dexter Executive Vice President Chief Financial Officer (772) 403-0461 INVESTOR RELATIONS NASDAQ: SBCF SECOND QUARTER 2020 EARNINGS PRESENTATION 25

Appendix SECOND QUARTER 2020 EARNINGS PRESENTATION 26

Loan Production and Pipeline Trend Quarterly Trend Six Months Ended (Amounts in thousands) 2Q'20 1Q'20 4Q'19 3Q'19 2Q'19 2Q'20 2Q'19 Commercial pipeline at period end $ 117,042 $ 171,125 $ 277,788 $ 396,422 $ 300,207 $ 117,042 $ 300,207 Commercial loan originations1 106,857 183,330 304,343 325,406 238,057 290,187 424,060 Residential pipeline-saleable at period end 94,666 75,226 18,995 35,136 46,723 94,666 46,723 Residential loans-sold 122,459 62,865 61,821 80,758 61,391 185,324 93,949 Residential pipeline-portfolio at period end 13,199 11,779 19,107 43,378 3,756 13,199 3,756 Residential loans-retained2 23,539 25,776 163,260 22,365 51,755 49,315 101,400 Consumer pipeline at period end 30,647 29,123 23,311 29,635 26,911 30,647 26,911 Consumer originations 57,956 51,516 57,659 59,933 55,380 109,472 96,956 PPP originations 590,718 — — — — 590,718 — Total Pipelines at Period End $ 255,554 $ 287,253 $ 339,201 $ 504,571 $ 377,597 $ 255,554 $ 377,597 Total Originations $ 901,529 $ 323,487 $ 587,083 $ 488,462 $ 406,583 $ 1,225,016 $ 716,365 1Includes commercial real estate loans purchased of $52 million in 3Q'19 and $20 million in 2Q'19 2Includes residential mortgages purchased of $99 million in 4Q'19, $6 million in 3Q'19 and $30 million in 2Q'19 SECOND QUARTER 2020 EARNINGS PRESENTATION 27

Loan Portfolio at June 30, 2020 (Excluding PPP) Balances on Payment Allowance for Purchase ($ in thousands) Outstandings Deferral % of Category Credit Losses % of Category Discount % of Category Acquisition, Development & Construction $ 298,835 $ 14,488 5 % $ 7,283 2.44 % $ 639 0.21 % Owner Occupied Commercial Real Estate 1,076,650 320,406 30 5,290 0.49 5,515 0.51 Commercial Real Estate 1,392,787 445,311 32 36,349 2.61 16,860 1.21 Residential Real Estate 1,468,171 148,035 10 20,427 1.39 3,400 0.23 Commercial & Financial 757,232 130,877 17 18,445 2.44 2,437 0.32 Consumer 201,927 17,926 9 3,456 1.71 147 0.07 Total $ 5,195,602 $ 1,077,043 21 % $ 91,250 1.76 % $ 28,998 0.56 % SECOND QUARTER 2020 EARNINGS PRESENTATION 28

Explanation of Certain Unaudited Non-GAAP Financial Measures This presentation contains financial information determined by These measures are also useful in understanding performance trends methods other than Generally Accepted Accounting Principles and facilitate comparisons with the performance of other financial (“GAAP”). The financial highlights provide reconciliations between institutions. The limitations associated with operating measures are GAAP and adjusted financial measures including net income, the risk that persons might disagree as to the appropriateness of noninterest income, noninterest expense, tax adjustments and other items comprising these measures and that different companies financial ratios. Management uses these non-GAAP financial might define or calculate these measures differently. The Company measures in its analysis of the Company’s performance and believes provides reconciliations between GAAP and these non-GAAP these presentations provide useful supplemental information, and a measures. These disclosures should not be considered an alternative clearer understanding of the Company’s performance. The Company to GAAP. 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. SECOND QUARTER 2020 EARNINGS PRESENTATION 29

GAAP to Non-GAAP Reconciliation Quarterly Trend Six Months Ended (Amounts in thousands except per share data) 2Q'20 1Q'20 4Q'19 3Q'19 2Q'19 2Q'20 2Q'19 Net Income $ 25,080 $ 709 $ 27,176 $ 25,605 $ 23,253 $ 25,789 $ 45,958 Total noninterest income 15,006 14,688 16,376 13,943 13,577 29,694 26,413 Securities (gains)/losses, net (1,230) (19) (2,539) 847 466 (1,249) 475 BOLI benefits on death (included in other income) — — — (956) — — — Total Adjustments to Noninterest Income (1,230) (19) (2,539) (109) 466 (1,249) 475 Total Adjusted Noninterest Income 13,776 14,669 13,837 13,834 14,043 28,445 26,888 Total noninterest expense 42,399 47,798 38,057 38,583 41,000 90,197 84,099 Merger related charges (240) (4,553) (634) — — (4,793) (335) Amortization of intangibles (1,483) (1,456) (1,456) (1,456) (1,456) (2,939) (2,914) Business continuity expenses — (307) — (95) — (307) — Branch reductions and other expense initiatives — — — (121) (1,517) — (1,725) Total Adjustments to Noninterest Expense (1,723) (6,316) (2,090) (1,672) (2,973) (8,039) (4,974) Total Adjusted Noninterest Expense 40,676 41,482 35,967 36,911 38,027 82,158 79,125 Income Taxes 7,188 (155) 8,103 8,452 6,909 7,033 13,318 Tax effect of adjustments 121 1,544 (110) 572 874 1,665 1,384 Effect of change in corporate tax rate on deferred tax assets — — — (1,135) — — — Total Adjustments to Income Taxes 121 1,544 (110) (563) 874 1,665 1,384 Adjusted Income Taxes 7,309 1,389 7,993 7,889 7,783 8,698 14,702 Adjusted Net Income $ 25,452 $ 5,462 $ 26,837 $ 27,731 $ 25,818 $ 30,914 $ 50,023 Earnings per diluted share, as reported $ 0.47 $ 0.01 $ 0.52 $ 0.49 $ 0.45 $ 0.49 $ 0.88 Adjusted Earnings per Diluted Share 0.48 0.10 0.52 0.53 0.50 0.59 0.96 Average shares outstanding 53,308 52,284 52,081 51,935 51,952 52,807 51,998 SECOND QUARTER 2020 EARNINGS PRESENTATION 30

GAAP to Non-GAAP Reconciliation Quarterly Trend Six Months Ended (Amounts in thousands except per share data) 2Q'20 1Q'20 4Q'19 3Q'19 2Q'19 2Q'20 2Q'19 Adjusted Noninterest Expense $ 40,676 $ 41,482 $ 35,967 $ 36,911 $ 38,027 $ 82,158 $ 79,125 Foreclosed property expense and net gain/(loss) on sale (245) 315 (3) (262) 174 70 214 Net Adjusted Noninterest Expense $ 40,431 $ 41,797 $ 35,964 $ 36,649 $ 38,201 $ 82,228 $ 79,339 Revenue $ 82,278 $ 77,865 $ 78,136 $ 74,891 $ 73,713 $ 160,143 $ 147,323 Total Adjustments to Revenue (1,230) (19) (2,539) (109) 466 (1,249) 475 Impact of FTE adjustment 116 114 86 79 83 230 170 Adjusted Revenue on a Fully Taxable Equivalent Basis $ 81,163 $ 77,961 $ 75,684 $ 74,861 $ 74,262 $ 159,124 $ 147,968 Adjusted Efficiency Ratio 49.81 % 53.61 % 47.52 % 48.96 % 51.44 % 51.68 % 53.62 % Net Interest Income $ 67,272 $ 63,177 $ 61,760 $ 60,948 $ 60,136 $ 130,449 $ 120,910 Impact of FTE adjustment 116 114 86 79 83 230 170 Net Interest Income including FTE adjustment $ 67,388 $ 63,291 $ 61,846 $ 61,027 $ 60,219 $ 130,679 $ 121,080 Total noninterest income 15,006 14,688 16,376 13,943 13,577 29,694 26,413 Total noninterest expense 42,399 47,798 38,057 38,583 41,000 90,197 84,099 Pre-Tax Pre-Provision Earnings $ 39,995 $ 30,181 $ 40,165 $ 36,387 $ 32,796 $ 70,176 $ 63,394 Total Adjustments to Noninterest Income (1,230) (19) (2,539) (109) 466 (1,249) 475 Total Adjustments to Noninterest Expense (1,723) (6,316) (2,090) (1,672) (2,973) (8,039) (4,974) Adjusted Pre-Tax Pre-Provision Earnings $ 40,488 $ 36,478 $ 39,716 $ 37,950 $ 36,235 $ 76,966 $ 68,843 Average Assets $ 7,913,002 $ 7,055,543 $ 6,996,214 $ 6,820,576 $ 6,734,994 $ 7,484,272 $ 6,752,886 Less average goodwill and intangible assets (230,871) (226,712) (226,060) (227,389) (228,706) (228,791) (229,382) Average Tangible Assets $ 7,682,131 $ 6,828,831 $ 6,770,154 $ 6,593,187 $ 6,506,288 $ 7,255,481 $ 6,523,504 Return on Average Assets (ROA) 1.27 % 0.04 % 1.54 % 1.49 % 1.38 % 0.69 % 1.37 % Impact of removing average intangible assets and related 0.10 0.07 0.12 0.12 0.12 0.09 0.12 amortization Return on Average Tangible Assets (ROTA) 1.37 0.11 1.66 1.61 1.50 0.78 1.49 Impact of other adjustments for Adjusted Net Income (0.04) 0.21 (0.09) 0.06 0.09 0.08 0.06 Adjusted Return on Average Tangible Assets 1.33 0.32 1.57 1.67 1.59 0.86 1.55 SECOND QUARTER 2020 EARNINGS PRESENTATION 31

GAAP to Non-GAAP Reconciliation Quarterly Trend Six Months Ended (Amounts in thousands except per share data) 2Q'20 1Q'20 4Q'19 3Q'19 2Q'19 2Q'20 2Q'19 Average Shareholders' Equity $ 1,013,095 $ 993,993 $ 976,200 $ 946,670 $ 911,479 $ 1,003,544 $ 895,610 Less average goodwill and intangible assets (230,871) (226,712) (226,060) (227,389) (228,706) (228,791) (229,382) Average Tangible Equity $ 782,224 $ 767,281 $ 750,140 $ 719,281 $ 682,773 $ 774,753 $ 666,228 Return on Average Shareholders' Equity 9.96 % 0.29 % 11.04 % 10.73 % 10.23 % 5.17 % 10.35 % Impact of removing average intangible assets and related amortization 3.51 0.66 3.91 4.00 4.07 2.10 4.22 Return on Average Tangible Common Equity (ROTCE) 13.47 0.95 14.95 14.73 14.30 7.27 14.57 Impact of other adjustments for Adjusted Net Income (0.38) 1.91 (0.76) 0.57 0.87 0.75 0.57 Adjusted Return on Average Tangible Common Equity 13.09 2.86 14.19 15.30 15.17 8.02 15.14 Loan interest income excluding PPP and accretion on acquired loans $ 56,873 $ 59,237 $ 59,515 $ 59,279 $ 58,169 $ 116,110 $ 116,566 Accretion on acquired loans 2,988 4,287 3,407 3,859 4,166 7,275 8,104 Interest and fees on PPP loans 5,068 — — — — 5,068 — Loan Interest Income1 $ 64,929 $ 63,524 $ 62,922 $ 63,138 $ 62,335 $ 128,453 $ 124,670 Yield on loans excluding PPP and accretion on acquired loans 4.31 % 4.57 % 4.63 % 4.76 % 4.82 % 4.44 % 4.86 % Impact of accretion on acquired loans 0.21 0.33 0.26 0.30 0.34 0.27 0.33 Impact of PPP Loans 0.04 — — — — 0.01 — Yield on Loans1 4.56 4.90 4.89 5.06 5.16 4.72 5.19 Net interest income excluding PPP and accretion on acquired loans $ 59,332 $ 59,004 $ 58,439 $ 57,168 $ 56,053 $ 118,336 $ 112,976 Accretion on acquired loans 2,988 4,287 3,407 3,859 4,166 7,275 8,104 Interest and fees on PPP loans 5,068 — — — — 5,068 — Net Interest Income1 $ 67,388 $ 63,291 $ 61,846 $ 61,027 $ 60,219 $ 130,679 $ 121,080 1On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost. SECOND QUARTER 2020 EARNINGS PRESENTATION 32

GAAP to Non-GAAP Reconciliation Quarterly Trend Six Months Ended (Amounts in thousands except per share data) 2Q'20 1Q'20 4Q'19 3Q'19 2Q'19 2Q'20 2Q'19 Net interest margin excluding PPP and accretion on acquired loans 3.46 % 3.66 % 3.63 % 3.64 % 3.67 % 3.56 % 3.71 % Impact of accretion on acquired loans 0.16 0.27 0.21 0.25 0.27 0.21 0.27 Impact of PPP loans 0.08 — — — — 0.04 — Net Interest Margin1 3.70 3.93 3.84 3.89 3.94 3.81 3.98 Security interest income excluding tax equivalent adjustment $ 7,694 $ 8,818 $ 8,630 $ 8,933 $ 9,076 $ 16,512 $ 18,346 Tax equivalent adjustment on securities 31 30 32 33 36 61 75 Security Interest Income1 $ 7,725 $ 8,848 $ 8,662 $ 8,966 $ 9,112 $ 16,573 $ 18,421 Loan interest income excluding tax equivalent adjustment $ 64,844 $ 63,440 $ 62,868 $ 63,092 $ 62,288 $ 128,284 $ 124,575 Tax equivalent adjustment on loans 85 84 54 46 47 169 95 Loan Interest Income1 $ 64,929 $ 63,524 $ 62,922 $ 63,138 $ 62,335 $ 128,453 $ 124,670 Net interest income excluding tax equivalent adjustments $ 67,272 $ 63,177 $ 61,760 $ 60,948 $ 60,136 $ 130,449 $ 120,910 Tax equivalent adjustment on securities 31 30 32 33 36 61 75 Tax equivalent adjustment on loans 85 84 54 46 47 169 95 Net Interest Income1 $ 67,388 $ 63,291 $ 61,846 $ 61,027 $ 60,219 $ 130,679 $ 121,080 1On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost. SECOND QUARTER 2020 EARNINGS PRESENTATION 33

GAAP to Non-GAAP Reconciliation $240 $1,483 $(121) $(1,230) $25,452 $25,080 ($ in thousands) Net Income Amortization Merger Tax Effect Securities Adjusted of Intangibles Related of Adjustments Gains, Net Net Income Charges SECOND QUARTER 2020 EARNINGS PRESENTATION 34

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Cover Page	Jul. 23, 2020
Cover [Abstract]
Document Type	8-K
Document Period End Date	Jul. 23, 2020
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
Trading Symbol	SBCF
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Entity Central Index Key	0000730708
Amendment Flag	false