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) October 26, 2023

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. below):

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

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

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

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

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

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

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

Emerging growth company  ☐

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

SEACOAST BANKING CORPORATION OF FLORIDA

Item 2.02    Results of Operations and Financial Condition

On October 26, 2023, Seacoast Banking Corporation of Florida (“Seacoast” or the “Company”) announced its financial results for the quarter ended September 30, 2023. A copy of the press release announcing Seacoast’s results for the quarter ended September 30, 2023, is attached hereto as Exhibit 99.1 and incorporated herein by reference.

Item 7.01    Regulation FD Disclosure

On October 27, 2023, Seacoast will hold an investor conference call to discuss its financial results for the quarter ended September 30, 2023. 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 September 30, 2023, 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 October 26, 2023, with respect to Seacoast's financial results for the quarter ended September 30, 2023
99.2	Data on website containing information used in the conference call to be held on October 27, 2023
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, and protections, of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements about future financial and operating results, cost savings, enhanced revenues, economic and seasonal conditions in the Company’s markets, and improvements to reported earnings that may be realized from cost controls, tax law changes, new initiatives and for integration of banks that the Company has acquired or expects to acquire, as well as statements with respect to Seacoast's objectives, strategic plans, expectations and intentions and other statements that are not historical facts. Actual results may differ from those set forth in the forward-looking statements.

Forward-looking statements include statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates and intentions about future performance and involve known and unknown risks, uncertainties and other factors, which may be beyond the Company’s control, and which may cause the actual results, performance or achievements of Seacoast Banking Corporation of Florida or its wholly-owned banking subsidiary, Seacoast National Bank, to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. You should not expect the Company to update any forward-looking statements.

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: October 26, 2023	/s/ Tracey L. Dexter
	TRACEY L. DEXTER
	Chief Financial Officer

EX-99.1

SEACOAST REPORTS THIRD QUARTER 2023RESULTS

Well-Positioned Balance Sheet with Strong Capital and Liquidity

Organic Deposit Growth Highlights Third Quarter Results

Robust Capital Position Builds Quarter over Quarter

STUART, Fla., October 26, 2023 /GLOBE NEWSWIRE/ -- Seacoast Banking Corporation of Florida ("Seacoast" or the "Company") (NASDAQ: SBCF) today reported net income in the third quarter of 2023 of $31.4 million, or $0.37 per diluted share, compared to $31.2 million, or $0.37 per diluted share in the second quarter of 2023 and $29.2 million, or $0.47 per diluted share in the third quarter of 2022. For the nine months ended September 30, 2023, net income was $74.5 million, or $0.89 per diluted share, a decrease of 10% compared to the nine months ended September 30, 2022.

Adjusted net income1 for the third quarter of 2023 was $39.7 million, or $0.46 per diluted share, compared to $49.2 million, or $0.58 per diluted share in the second quarter of 2023 and $32.8 million, or $0.53 per diluted share in the third quarter of 2022. Adjusted net income1 for the nine months ended September 30, 2023 was $118.2 million, or $1.41 per diluted share, an increase of 23% compared to the nine months ended September 30, 2022.

Pre-tax pre-provision earnings1 were $43.4 million in the third quarter of 2023, an increase of 6% compared to the second quarter of 2023 and an increase of 1% compared to the third quarter of 2022. Pre-tax pre-provision earnings1 for the nine months ended September 30, 2023 were $130.6 million, an increase of $11.7 million, or 10%, when compared to the nine months ended September 30, 2022. Adjusted pre-tax pre-provision earnings1 were $54.8 million in the third quarter of 2023, a decrease of 15% compared to the second quarter of 2023 and an increase of 12% compared to the third quarter of 2022. Adjusted pre-tax pre-provision earnings1 for the nine months ended September 30, 2023 were $190.7 million, an increase of $53.6 million, or 39%, when compared to the nine months ended September 30, 2022.

For the third quarter of 2023, return on average tangible assets was 1.04% and return on average tangible shareholders' equity was 11.90%, compared to 1.06% and 12.08%, respectively, in the prior quarter, and 1.17% and 11.53%, respectively, in the prior year quarter. Adjusted return on average tangible assets1 in the third quarter of 2023 was 1.12% and adjusted return on average tangible shareholders' equity1 was 12.79%, compared to 1.41% and 16.08%, respectively, in the prior quarter, and 1.27% and 12.48%, respectively, in the prior year quarter. For the nine months ended September 30, 2023, return on average tangible assets was 0.88% and return on average tangible shareholders' equity was 10.09%, compared to 1.11% and 10.82%, respectively, for the nine months ended September 30, 2022. For the nine months ended September 30, 2023, adjusted return on average tangible assets1 was 1.15% and adjusted return on average tangible shareholders' equity1 was 13.14%, compared to 1.24% and 12.13%, respectively, for the nine months ended September 30, 2022.

Charles M. Shaffer, Seacoast's Chairman and CEO said, "Seacoast continues to benefit from the strong deposit franchise, disciplined credit, and conservative balance sheet principles that have served us well over our 96-year history. Following a period of elevated acquisition activity and consistent with our relationship-driven approach, we concentrated during the quarter on organically generated deposit growth, using the funding to pay down brokered time deposits and wholesale borrowings while benefiting from the increase in our market share, to 15th from 18th, in the nation’s fastest-growing state.”

Shaffer added, “We continue to maintain strong credit quality, with non-performing loans declining from the prior quarter. Our balance sheet remains robust, with a Tier 1 capital ratio of 13.9% as of September 30, 2023, and the ratio of tangible common equity to tangible assets of 8.68%. Even if all held-to-maturity securities were adjusted to fair value, our tangible common equity to tangible assets ratio would be a very strong 7.89%. Our liquidity position is also strong with a loan-to-deposit ratio of 83%, providing balance sheet flexibility as we move forward.”

Shaffer concluded, "Given the backdrop of an inverted yield curve and slowing economic conditions, we are managing overhead carefully and completed our previously announced reduction in force late in the third quarter.

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

We will continue to position the Company prudently and manage overhead appropriately for the current operating environment.”

Financial Results

Income Statement

•Net income was $31.4 million, or $0.37 per diluted share, for the third quarter of 2023 compared to net income of $31.2 million, or $0.37 per diluted share, for the prior quarter, and $29.2 million, or $0.47 per diluted share, for the prior year quarter. For the nine months ended September 30, 2023, net income was $74.5 million, or $0.89 per diluted share, compared to $82.6 million, or $1.33 per diluted share, for the nine months ended September 30, 2022. The results for the nine months ended September 30, 2023 included the $26.6 million day-1 provision for credit losses on loans acquired in the Professional Bank acquisition. Adjusted net income1 for the third quarter of 2023 was $39.7 million, or $0.46 per diluted share, compared to $49.2 million, or $0.58 per diluted share, for the prior quarter, and $32.8 million, or $0.53 per diluted share, for the prior year quarter. For the nine months ended September 30, 2023, adjusted net income1 was $118.2 million, or $1.41 per diluted share, compared to $96.2 million, or $1.56 per diluted share, for the nine months ended September 30, 2022.

•Net revenues were $137.1 million in the third quarter of 2023, a decrease of $11.4 million, or 8%, compared to the prior quarter, and an increase of $32.7 million, or 31%, compared to the prior year quarter. For the nine months ended September 30, 2023, net revenues were $439.2 million, an increase of $144.3 million, or 49%, compared to the nine months ended September 30, 2022. Adjusted revenues1 were $137.5 million in the third quarter of 2023, a decrease of $11.2 million, or 8%, compared to the prior quarter, and an increase of $32.7 million, or 31%, compared to the prior year quarter. For the nine months ended September 30, 2023, adjusted revenues1 were $437.6 million, an increase of $141.6 million, or 48%, compared to the nine months ended September 30, 2022.

•Pre-tax pre-provision earnings1 were $43.4 million in the third quarter of 2023, an increase of 6% compared to the second quarter of 2023 and an increase of 1% compared to the third quarter of 2022. Pre-tax pre-provision earnings1 for the nine months ended September 30, 2023 were $130.6 million, an increase of $11.7 million, or 10%, when compared to the nine months ended September 30, 2022. Adjusted pre-tax pre-provision earnings1 were $54.8 million in the third quarter of 2023, a decrease of 15% compared to the second quarter of 2023 and an increase of 12% compared to the third quarter of 2022. Adjusted pre-tax pre-provision earnings1 for the nine months ended September 30, 2023 were $190.7 million, an increase of $53.6 million, or 39%, when compared to the nine months ended September 30, 2022

•Net interest income totaled $119.3 million in the third quarter of 2023, a decrease of $7.7 million, or 6%, from the second quarter of 2023 and an increase of $31.0 million, or 35%, compared to the third quarter of 2022. During the third quarter of 2023, higher interest expense on deposits was driven by higher rates, including new requirements by the Florida Bar Association for higher rates on certain trust accounts, and by changes in product mix. These were partially offset by higher interest income on securities and loans. Accretion on acquired loans totaled $14.8 million in the third quarter of 2023, $14.6 million in the second quarter of 2023, and $2.2 million in the third quarter of 2022. For the nine months ended September 30, 2023, net interest income was $377.4 million, an increase of $131.0 million, or 53%, compared to the nine months ended September 30, 2022. Accretion on acquired loans totaled $45.4 million for the nine months ended September 30, 2023, compared to $8.7 million for the nine months ended September 30, 2022.

•Net interest margin decreased 29 basis points to 3.57% in the third quarter of 2023 compared to 3.86% in the second quarter of 2023. Loan yields were 5.93%, up four basis points from the prior quarter, and reflected an increase of 148 basis points compared to the prior year quarter. The effect on loan yields of accretion of purchase discounts on acquired loans was an increase of 59 basis points in the third quarter of 2023, an increase of 58 basis points in the second quarter of 2023 and an increase of 14 basis points in the third quarter of 2022. Securities yields increased 19 basis points to 3.32%, compared to 3.13% in the prior quarter. The cost of deposits increased 41 basis points, from 1.38% in the prior quarter, to 1.79% for the third quarter of 2023.

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

•Noninterest income totaled $17.8 million in the third quarter of 2023, a decrease of $3.8 million, or 18%, compared to the prior quarter, and an increase of $1.7 million, or 10%, compared to the prior year quarter. Of the $3.8 million decrease in the third quarter of 2023, $3.4 million resulted from the impact of the Durbin amendment, which became effective for Seacoast on July 1, 2023, and limits network interchange fees earned on debit card transactions. Also in the third quarter of 2023, changes in the interest rate environment resulted in losses of $0.4 million recognized as a result of declines in the value of investments in mutual funds holding CRA-qualified debt securities.

•The provision for credit losses was $2.7 million in the third quarter of 2023, compared to a net benefit of $0.8 million in the second quarter of 2023 and a provision of $4.7 million in the third quarter of 2022.

•Noninterest expense was $93.9 million in the third quarter of 2023, a decrease of $14.0 million, or 13%, compared to the prior quarter, and an increase of $32.6 million, or 53%, compared to the prior year quarter. Noninterest expense was $309.3 million for the nine months ended September 30, 2023, compared to $176.4 million in the nine months ended September 30, 2022. Changes compared to the second quarter of 2023 included:

•During the third quarter of 2023, the Company completed its reduction in force, reducing headcount by 6%, and consolidated a branch location.

•Salaries and wages increased $1.3 million to $46.4 million in the third quarter of 2023. The third quarter of 2023 included $3.2 million in severance-related expenses arising from the Company’s reduction in workforce. This compares to $1.6 million in merger-related expenses in the second quarter of 2023.

•Outsourced data processing costs decreased $11.5 million, or 57%, to $8.7 million in the third quarter of 2023. Included in the second quarter of 2023 were $10.9 million in merger-related expenses.

•Telephone/data lines decreased $0.1 million to $1.4 million and furniture and equipment decreased $0.3 million to $2.1 million in the third quarter of 2023.

•Marketing decreased $0.2 million to $1.9 million in the third quarter of 2023. Marketing expenses are expected to be higher in the fourth quarter of 2023.

•Occupancy costs decreased $0.7 million to $6.3 million in the third quarter of 2023 reflecting branch consolidation and cost synergies from recent acquisitions, including one additional branch consolidation in July.

•Legal and professional fees decreased $1.4 million to $2.7 million in the third quarter of 2023, with $1.7 million of merger-related expenses incurred in the second quarter of 2023.

•Other noninterest expenses decreased $1.1 million to $7.2 million in the third quarter of 2023, the benefit of acquisition-related cost synergies.

•Seacoast recorded $9.1 million of income tax expense in the third quarter of 2023, compared to $10.2 million in the second quarter of 2023, and $9.1 million in the third quarter of 2022.

•The efficiency ratio was 62.60% in the third quarter of 2023, compared to 67.34% in the second quarter of 2023 and 57.13% in the prior year quarter. The adjusted efficiency ratio1 was 60.19% in the third quarter of 2023, compared to 56.44% in the second quarter of 2023 and 53.28% in the prior year quarter. The Company continues to remain keenly focused on disciplined expense control. The increase in the adjusted efficiency ratio in the third quarter of 2023 reflects the impact of higher deposit rates, including the first full quarter of the Florida Bar Association’s change to rates required to be paid on certain trust accounts, and the first time impact of the Durbin Amendment on interchange income. The adjusted efficiency ratio1 for the nine months ended September 30, 2023 was 56.47% compared to 53.73% for the nine months ended September 30, 2022.

Balance Sheet

•At September 30, 2023, the Company had total assets of $14.8 billion and totalshareholders' equity of $2.0 billion. Book value per share was $24.06 on September 30, 2023, compared to $24.14 on June 30, 2023, and

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

$20.95 on September 30, 2022. Tangible book value per share totaled $14.26 on September 30, 2023 compared to $14.24 on June 30, 2023 and $15.98 on September 30, 2022. Removing the impact of the change in accumulated comprehensive income, tangible book value per share would have been higher by $0.30, reaching $14.56, an increase of 8% on an annualized basis.

•Debt securities totaled $2.5 billion on September 30, 2023, a decrease of $90.8 million, or 3%, compared to June 30, 2023. Debt securities include approximately $1.8 billion in securities held at fair value and classified as available for sale. The unrealized loss on these securities is fully reflected in the value presented on the balance sheet. The portfolio also includes $691.4 million in securities classified as held to maturity with a fair value of $537.2 million. Held-to-maturity securities consist solely of mortgage-backed securities and collateralized mortgage obligations guaranteed by U.S. government agencies, each of which is expected to recover any price depreciation over its holding period as the debt securities move to maturity. The Company has significant liquidity and available borrowing capacity and has the intent and ability to hold these investments to maturity.

•Loans decreased $106.7 million when compared to the prior quarter, totaling $10.0 billion as of September 30, 2023.Loan originations were $244.6 million in the third quarter of 2023, a decrease of 53% compared to $518.9 million in the second quarter of 2023. New add on yields were near 8% during the third quarter of 2023. The Company continues to exercise a disciplined approach to lending, carefully underwriting loans to strict underwriting guidelines and setting high expectations for risk adjusted returns given the current environment.

•Loan pipelines (loans in underwriting and approval or approved and not yet closed) totaled $353.0 million on September 30, 2023, an increase of 24% from June 30, 2023, and a decrease of 43% from September 30, 2022.

•Commercial pipelines were $300.8 million as of September 30, 2023, an increase of 38% from $217.6 million at June 30, 2023, and a decrease of 43% from $530.4 million at September 30, 2022.

•Consumer pipelines were $24.5 million as of September 30, 2023, a decrease of $4.0 million from $28.4 million at June 30, 2023, and a decrease of 44% from $43.7 million at September 30, 2022.

•Residential saleable pipelines were $6.8 million as of September 30, 2023, compared to $11.5 million at June 30, 2023, and $6.6 million at September 30, 2022. Retained residential pipelines were $20.9 million as of September 30, 2023, compared to $27.1 million at June 30, 2023, and $60.7 million at September 30, 2022.

•Total deposits were $12.1 billion as of September 30, 2023, a decrease of $175.4 million when compared to June 30, 2023, and an increase of $3.3 billion, or 38%, compared to September 30, 2022. Excluding the paydown in brokered balances, total deposits increased $108.1 million, or 3.7% annualized, during the third quarter of 2023. Seacoast’s granular, longstanding deposit base is a hallmark of our franchise, and in the current economic environment serves as a significant source of strength.

•During the third quarter of 2023, the Company grew organic deposits 3.7% annualized and used the proceeds to pay down brokered deposits and FHLB borrowings, bolstering the balance sheet and supporting the net interest margin.

•At September 30, 2023, transaction account balances represented 55% of overall deposits.

•Noninterest demand deposits are a peer-leading 32% of overall deposits.

•The Company benefits from a granular deposit franchise, with the top ten depositors representing only 3% of total deposits.

•Average deposits per banking center were $157 million at September 30, 2023, unchanged from the prior quarter.

•Uninsured deposits represented only 34% of overall deposit accounts as of September 30, 2023. This includes public funds under the Florida Qualified Public Depository program, which provides loss protection to depositors beyond FDIC insurance limits. Excluding such balances, the uninsured and uncollateralized deposits were 29% of total deposits. The Company has liquidity sources including cash and lines of credit with the Federal Reserve and Federal Home Loan Bank that represent 154% of uninsured deposits, and 182% of uninsured and uncollateralized deposits.

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

•Consumer deposits represent 43% of overall deposit funding with an average consumer customer balance of $24 thousand. Commercial deposits represent 57% of overall deposit funding with an average business customer balance of $111 thousand.

•Year over year, the Company increased its deposit market share from #18 in 2022 to #15 in 2023.

•Federal Home Loan Bank advances totaled $110.0 million at September 30, 2023 with a weighted average interest rate of 2.88%. In the aggregate, borrowed funds, including FHLB advances, subordinated debt and brokered deposits represented only 4.1% of total liabilities as of September 30, 2023. During the third quarter of 2023, the Company paid down $333.4 million in FHLB advances and brokered deposits.

Asset Quality

•Net charge-offs of $12.7 million during the third quarter of 2023 included the complete charge-off of an $11.3 million acquired loan. The charge-off had no impact on earnings or capital, as the Company expected and fully reserved for the loss at acquisition through purchase accounting.

•Credit metrics remain strong with non-accruals and criticized assets at historically low levels. The Company remains diligent in its monitoring of these metrics, as well as changes in the broader economic environment.

•Nonperforming loans were $41.5 million at September 30, 2023, a decline from $48.3 million at June 30, 2023. Nonperforming loans to total loans outstanding were 0.41% at September 30, 2023, 0.48% at June 30, 2023, and 0.32% at September 30, 2022.

•Nonperforming assets to total assets decreased to 0.33% at September 30, 2023, compared to 0.37% at June 30, 2023, and increased from 0.23% at September 30, 2022.

•Theratio of allowance for credit losses to total loans was 1.49% at September 30, 2023, 1.58% at June 30, 2023, and 1.42% at September 30, 2022. The impact of the full charge-off of an $11.3 million acquired loan was partially offset by a build of allowance relating to macroeconomic outlook.

•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. Seacoast's average loan size is $306 thousand, and the average commercial loan size is $683 thousand, reflecting an ability to maintain granularity within the overall loan portfolio.

•Construction and land development and commercial real estate loans remain well below regulatory guidance at 51% and 248% of total bank-level risk-based capital, respectively, compared to 52% and 256%, respectively, at June 30, 2023. On a consolidated basis, construction and land development and commercial real estate loans represent 48% and 234%, respectively, of total consolidated risk-based capital.

Capital and Liquidity

•The Company continues to operate with a fortress balance sheet with a Tier 1 capital ratio at September 30, 2023 of 13.9% compared to 13.5% at June 30, 2023, and 16.5% at September 30, 2022. The Total capital ratio was 15.0%, the Common Equity Tier 1 capital ratio was 13.3%, and the Tier 1 leverage ratio was 10.6% at September 30, 2023. The Company is considered “well capitalized” based on applicable U.S. regulatory capital ratio requirements.

•Cash and cash equivalents at September 30, 2023 totaled $696.0 million.

•The Company’s loan to deposit ratio was 83% at September 30, 2023, providing liquidity and flexibility moving forward.

•Tangible common equity to tangible assets was 8.68% at September 30, 2023, compared to 8.53% at June 30, 2023, and 9.79% at September 30, 2022. If all held-to-maturity securities were adjusted to fair value, the tangible common equity ratio would have been 7.89%.

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

•At September 30, 2023, in addition to $696.0 million in cash, the Company had $5.7 billion in available borrowing capacity, including $4.8 billion in available collateralized lines of credit, $0.6 billion of unpledged debt securities available as collateral for potential additional borrowings, and available unsecured lines of credit of $0.3 billion. These liquidity sources as of September 30, 2023 represented 182% of uninsured and uncollateralized deposits.

•In September 2023, Kroll Bond Rating Agency (“KBRA”) affirmed Seacoast’s senior unsecured debt rating (BBB+) and subordinated debt rating (BBB), with a “Stable” outlook for all long-term ratings.

•Under its share repurchase program, the Company is authorized to purchase up to $100 million of its shares of outstanding common stock.

Recognition

•In October 2023, Seacoast was recognized among Fortune’sBest Workplaces for Women for 2023. Seacoast sets a leading example by fostering inclusivity, empowering women, and creating a workplace where every individual can reach their full potential.

•Seacoast has been Certified™by Great Place To Work® for 2023. As the global authority on workplace culture, Great Place To Work® brings 30 years of groundbreaking research and data to recognize workplaces that create the conditions for an overwhelmingly positive employee experience.

•Seacoast earned recognition from the South Florida Business Journal and the Orlando Business Journal as one of 2023’s Best Places to Work and has received similar honors the past two years from American Banker.

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
	3Q'23			2Q'23			1Q'23			4Q'22			3Q'22
Selected balance sheet data:
Gross loans	$	10,011,186		$	10,117,919		$	10,134,395		$	8,144,724		$	6,690,845
Total deposits	12,107,834			12,283,267			12,309,701			9,981,595			8,765,414
Total assets	14,823,007			15,041,932			15,255,408			12,145,762			10,345,235
Performance measures:
Net income	$	31,414		$	31,249		$	11,827		$	23,927		$	29,237
Net interest margin	3.57		%	3.86		%	4.31		%	4.36		%	3.67		%
Pre-tax pre-provision earnings1	43,383			40,864			46,321			45,999			43,143
Average diluted shares outstanding	85,666			85,536			80,717			71,374			61,961
Diluted earnings per share (EPS)	$	0.37		$	0.37		$	0.15		$	0.34		$	0.47
Return on (annualized):
Average assets (ROA)	0.84		%	0.84		%	0.34		%	0.78		%	1.10		%
Average tangible assets (ROTA)2	1.04			1.06			0.52			0.94			1.17
Average tangible common equity (ROTCE)2	11.90			12.08			5.96			10.36			11.53
Tangible common equity to tangible assets2	8.68			8.53			8.36			9.08			9.79
Tangible book value per share2	$	14.26		$	14.24		$	14.25		$	14.69		$	15.98
Efficiency ratio	62.60		%	67.34		%	65.43		%	63.39		%	57.13		%
Adjusted operating measures1:
Adjusted net income	$	39,737		$	49,203		$	29,241		$	39,926		$	32,837
Adjusted pre-tax pre-provision earnings	54,806			64,856			71,081			66,649			48,989
Adjusted diluted EPS	0.46			0.58			0.36			0.56			0.53
Adjusted ROTA2	1.12		%	1.41		%	0.90		%	1.36		%	1.27		%
Adjusted ROTCE2	12.79			16.08			10.34			15.05			12.48
Adjusted efficiency ratio	60.19			56.44			53.10			51.52			53.28
Net adjusted noninterest expense as a percent of average tangible assets2	2.34			2.40			2.47			2.42			2.16
Other data:
Market capitalization3	$	1,869,891		$	1,880,407		$	2,005,241		$	2,233,761		$	1,858,429
Full-time equivalent employees	1,570			1,670			1,650			1,490			1,156
Number of ATMs	97			96			97			100			79
Full-service banking offices	77			78			83			78			58
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.

OTHER INFORMATION

Conference Call Information

Seacoast will host a conference call October 27th, 2023, at 10:00 a.m. (Eastern Time) to discuss the third quarter 2023 earnings results and business trends. Investors may call in (toll-free) by dialing (800) 919-1728. 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.” Additionally, a recording of the call will be made available to individuals shortly after the conference call and can be accessed via a link at www.SeacoastBanking.com under the heading “Corporate Information.” The recording will be available for one year.

About Seacoast Banking Corporation of Florida (NASDAQ: SBCF)

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) is one of the largest community banks headquartered in Florida with approximately $14.8 billion in assets and $12.1 billion in deposits as of September 30, 2023. Seacoast provides integrated financial services including commercial and consumer banking, wealth management, and mortgage services to customers at 77 full-service branches across Florida, and through advanced mobile and online banking solutions. Seacoast National Bank is the wholly-owned subsidiary bank of Seacoast Banking Corporation of Florida. For more information about Seacoast, visit www.SeacoastBanking.com.

Cautionary Notice Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning, and protections, of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including, without limitation, statements about future financial and operating results, cost savings, enhanced revenues, economic and seasonal conditions in the Company’s markets, and improvements to reported earnings that may be realized from cost controls, tax law changes, new initiatives and for integration of banks that the Company has acquired, or expects to acquire, as well as statements with respect to Seacoast's objectives, strategic plans, expectations and intentions and other statements that are not historical facts. Actual results may differ from those set forth in the forward-looking statements.

Forward-looking statements include statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates and intentions about future performance and involve known and unknown risks, uncertainties and other factors, which may be beyond the Company’s control, and which may cause the actual results, performance or achievements of Seacoast Banking Corporation of Florida (“Seacoast” or the “Company”) or its wholly-owned banking subsidiary, Seacoast National Bank (“Seacoast Bank”), to be materially different from results, performance or achievements expressed or implied by such forward-looking statements. You should not expect the Company to update any forward-looking statements.

All statements other than statements of historical fact could be forward-looking statements. You can identify these forward-looking statements through the use of words such as "may", "will", "anticipate", "assume", "should", "support", "indicate", "would", "believe", "contemplate", "expect", "estimate", "continue", "further", "plan", "point to", "project", "could", "intend", "target" or other similar words and expressions of the future. These forward-looking statements may not be realized due to a variety of factors, including, without limitation: the impact of current and future economic and market conditions generally (including seasonality) and in the financial services industry, nationally and within Seacoast’s primary market areas, including the effects of inflationary pressures, changes in interest rates, slowdowns in economic growth, and the potential for high unemployment rates, as well as the financial stress on borrowers and changes to customer and client behavior and credit risk as a result of the foregoing; potential impacts of the recent adverse developments in the banking industry highlighted by high-profile bank failures, including impacts on customer confidence, deposit outflows, liquidity and the regulatory response thereto; governmental monetary and fiscal policies, including interest rate policies of the Board of Governors of the Federal Reserve, as well as legislative, tax and regulatory changes, including those that impact the money supply and inflation; the risks of changes in interest rates on the level and composition of deposits (as well as the cost of, and competition for, deposits), loan demand, liquidity and the values of loan collateral, securities, and interest rate sensitive assets and liabilities; interest rate risks, sensitivities and the shape of the yield curve; changes in

accounting policies, rules and practices; changes in retail distribution strategies, customer preferences and behavior generally and as a result of economic factors, including heightened inflation; 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; the Company’s concentration in commercial real estate loans and in real estate collateral in Florida; Seacoast’s ability to comply with any regulatory requirements; the effects of problems encountered by other financial institutions that adversely affect Seacoast or the banking industry; inaccuracies or other failures from the use of models, including the failure of assumptions and estimates, as well as differences in, and changes to, economic, market and credit conditions; the impact on the valuation of Seacoast’s investments due to market volatility or counterparty payment risk, as well as the effect of a decline in stock market prices on our fee income from our wealth management business; statutory and regulatory dividend restrictions; increases in regulatory capital requirements for banking organizations generally; the risks of mergers, acquisitions and divestitures, including Seacoast’s ability to continue to identify acquisition targets, successfully acquire and integrate desirable financial institutions and realize expected revenues and revenue synergies; changes in technology or products that may be more difficult, costly, or less effective than anticipated; the Company’s ability to identify and address increased cybersecurity risks; fraud or misconduct by internal or external actors, which Seacoast may not be able to prevent, detect or mitigate; inability of Seacoast’s risk management framework to manage risks associated with the Company’s business; dependence on key suppliers or vendors to obtain equipment or services for the business on acceptable terms, including the impact of supply chain disruptions; reduction in or the termination of Seacoast’s ability to use the online- or mobile-based platform that is critical to the Company’s business growth strategy; the effects of war or other conflicts, including the impacts related to or resulting from Russia’s military action in Ukraine, acts of terrorism, natural disasters, including hurricanes in the Company’s footprint, health emergencies, epidemics or pandemics, or other catastrophic events that may affect general economic conditions; unexpected outcomes of and the costs associated with, existing or new litigation involving the Company; Seacoast’s ability to maintain adequate internal controls over financial reporting; potential claims, damages, penalties, fines and reputational damage resulting from pending or future litigation, regulatory proceedings and enforcement actions; the risks that deferred tax assets could be reduced if estimates of future taxable income from the Company’s operations and tax planning strategies are less than currently estimated and sales of capital stock could trigger a reduction in the amount of net operating loss carryforwards that the Company may be able to utilize for income tax purposes; the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, non-bank financial technology providers, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions operating in the Company’s market areas and elsewhere, including institutions operating regionally, nationally and internationally, together with such competitors offering banking products and services by mail, telephone, computer and the Internet; the failure of assumptions underlying the establishment of reserves for possible credit losses; risks related to environmental, social and governance (“ESG”) matters, the scope and pace of which could alter Seacoast’s reputation and shareholder, associate, customer and third-party affiliations; and other factors and risks described under “Risk Factors” herein and in any of the Company's subsequent reports filed with the SEC and available on its website at www.sec.gov

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in the Company’s annual report on Form 10-K for the year ended December 31, 2022 and quarterly reports on Form 10-Q for the quarters ended March 31, 2023 and June 30, 2023 under "Special Cautionary Notice Regarding Forward-Looking Statements" and "Risk Factors", and otherwise in the Company’s SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at www.sec.gov.

FINANCIAL HIGHLIGHTS							(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	Quarterly Trends																Nine Months Ended
(Amounts in thousands, except ratios and per share data)	3Q'23			2Q'23				1Q'23			4Q'22			3Q'22			3Q'23			3Q'22
Summary of Earnings
Net income	$	31,414		$	31,249			$	11,827		$	23,927		$	29,237		$	74,490		$	82,580
Adjusted net income1	39,737			49,203				29,241			39,926			32,837			118,181			96,220
Net interest income2	119,505			127,153				131,351			119,858			88,399			378,009			246,803
Net interest margin2,3	3.57		%	3.86		%		4.31		%	4.36		%	3.67		%	3.91		%	3.44		%
Pre-tax pre-provision earnings1	43,383			40,864				46,321			45,999			43,143			130,568			118,819
Adjusted pre-tax pre-provision earnings1	54,806			64,856				71,081			66,649			48,989			190,743			137,124
Performance Ratios
Return on average assets-GAAP basis3	0.84		%	0.84		%		0.34		%	0.78		%	1.10		%	0.68		%	1.03		%
Return on average tangible assets-GAAP basis3,4	1.04			1.06				0.52			0.94			1.17			0.88			1.11
Adjusted return on average tangible assets1,3,4	1.12			1.41				0.90			1.36			1.27			1.15			1.24
Pre-tax pre-provision return on average tangible assets1,3,4	1.38			1.33				1.58			1.69			1.71			1.43			1.57
Adjusted pre-tax pre-provision return on average tangible assets1,3,4	1.55			1.85				2.18			2.28			1.89			1.85			1.77
Net adjusted noninterest expense to average tangible assets1,3,4	2.34			2.40				2.47			2.42			2.16			2.40			2.05
Return on average shareholders' equity-GAAP basis3	6.01			6.05				2.53			6.03			8.60			4.94			8.08
Return on average tangible common equity-GAAP basis3,4	11.90			12.08				5.96			10.36			11.53			10.09			10.82
Adjusted return on average tangible common equity1,3,4	12.79			16.08				10.34			15.05			12.48			13.14			12.13
Efficiency ratio5	62.60			67.34				65.43			63.39			57.13			65.19			58.45
Adjusted efficiency ratio1	60.19			56.44				53.10			51.52			53.28			56.47			53.73
Noninterest income to total revenue (excluding securities gains/losses)	13.22			14.63				14.55			12.84			15.72			14.16			16.74
Tangible common equity to tangible assets4	8.68			8.53				8.36			9.08			9.79			8.68			9.79
Average loan-to-deposit ratio	82.63			83.48				82.43			77.67			73.90			82.86			71.92
End of period loan-to-deposit ratio	82.71			82.42				82.35			81.63			76.35			82.71			76.35
Per Share Data
Net income diluted-GAAP basis	$	0.37		$	0.37			$	0.15		$	0.34		$	0.47		$	0.89		$	1.33
Net income basic-GAAP basis	0.37			0.37				0.15			0.34			0.48			0.89			1.35
Adjusted earnings1	0.46			0.58				0.36			0.56			0.53			1.41			1.56
Book value per share common	24.06			24.14				24.24			22.45			20.95			24.06			20.95
Tangible book value per share	14.26			14.24				14.25			14.69			15.98			14.26			15.98
Cash dividends declared	0.18			0.18				0.17			0.17			0.17			0.53			0.47
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											Nine Months Ended
(Amounts in thousands, except per share data)	3Q'23		2Q'23			1Q'23		4Q'22		3Q'22		3Q'23		3Q'22
Interest on securities:
Taxable	$	21,401	$	20,898		$	19,244	$	18,530	$	15,653	$	61,543	$	38,081
Nontaxable	97		97			105		130		138		299		416
Interest and fees on loans	149,871		148,265			135,168		105,322		73,970		433,304		210,395
Interest on federal funds sold and other investments	8,477		5,023			3,474		3,127		1,643		16,974		4,493
Total Interest Income	179,846		174,283			157,991		127,109		91,404		512,120		253,385
Interest on deposits	38,396		27,183			16,033		3,934		1,623		81,612		3,384
Interest on time certificates	16,461		14,477			5,552		1,358		380		36,490		1,284
Interest on borrowed money	5,683		5,660			5,254		2,108		1,117		16,597		2,264
Total Interest Expense	60,540		47,320			26,839		7,400		3,120		134,699		6,932
Net Interest Income	119,306		126,963			131,152		119,709		88,284		377,421		246,453
Provision for credit losses	2,694		(764)			31,598		14,129		4,676		33,528		12,054
Net Interest Income After Provision for Credit Losses	116,612		127,727			99,554		105,580		83,608		343,893		234,399
Noninterest income:
Service charges on deposit accounts	4,648		4,560			4,242		3,996		3,504		13,450		9,713
Interchange income	1,684		5,066			4,694		4,650		4,138		11,444		12,521
Wealth management income	3,138		3,318			3,063		2,886		2,732		9,519		8,165
Mortgage banking fees	410		576			426		426		434		1,412		3,052
Insurance agency income	1,183		1,160			1,101		805		—		3,444		—
SBA gains	613		249			322		105		108		1,184		737
BOLI income	2,197		2,068			1,916		1,526		1,363		6,181		4,046
Other	4,307		4,755			6,574		3,239		4,186		15,636		11,320
	18,180		21,752			22,338		17,633		16,465		62,270		49,554
Securities (losses) gains, net	(387)		(176)			107		18		(362)		(456)		(1,114)
Total Noninterest Income	17,793		21,576			22,445		17,651		16,103		61,814		48,440
Noninterest expenses:
Salaries and wages	46,431		45,155			47,616		45,405		28,420		139,202		84,695
Employee benefits	7,206		7,472			8,562		5,300		4,074		23,240		13,726
Outsourced data processing costs	8,714		20,222			14,553		9,918		5,393		43,489		17,592
Telephone / data lines	1,409		1,518			1,081		1,185		973		4,008		2,614
Occupancy	6,349		7,065			6,938		5,457		5,046		20,352		13,082
Furniture and equipment	2,052		2,345			2,267		1,944		1,462		6,664		4,476
Marketing	1,876		2,047			2,238		1,772		1,461		6,161		4,514
Legal and professional fees	2,679		4,062			7,479		9,174		3,794		14,220		11,529
FDIC assessments	2,258		2,116			1,443		889		760		5,817		2,248
Amortization of intangibles	7,457		7,654			6,727		4,763		1,446		21,838		4,338
Foreclosed property expense and net loss (gain) on sale	274		(57)			195		(411)		9		412		(1,123)
Provision for credit losses on unfunded commitments	—		—			1,239		—		1,015		1,239		1,157
Other	7,210		8,266			7,137		6,114		7,506		22,613		17,576
Total Noninterest Expense	93,915		107,865			107,475		91,510		61,359		309,255		176,424
Income Before Income Taxes	40,490		41,438			14,524		31,721		38,352		96,452		106,415
Income taxes	9,076		10,189			2,697		7,794		9,115		21,962		23,835
Net Income	$	31,414	$	31,249		$	11,827	$	23,927	$	29,237	$	74,490	$	82,580
Per share of common stock:
Net income diluted	$	0.37	$	0.37		$	0.15	$	0.34	$	0.47	$	0.89	$	1.33
Net income basic	0.37		0.37			0.15		0.34		0.48		0.89		1.35
Cash dividends declared	0.18		0.18			0.17		0.17		0.17		0.53		0.47
Average diluted shares outstanding	85,666		85,536			80,717		71,374		61,961		83,993		61,867
Average basic shares outstanding	85,142		85,022			80,151		70,770		61,442		83,457		61,327

CONDENSED CONSOLIDATED BALANCE SHEETS					(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	September 30,		June 30,		March 31,		December 31,		September 30,
(Amounts in thousands)	2023		2023		2023		2022		2022
Assets
Cash and due from banks	$	182,036	$	164,193	$	180,607	$	120,748	$	176,463
Interest bearing deposits with other banks	513,946		563,690		610,636		81,192		42,152
Total Cash and Cash Equivalents	695,982		727,883		791,243		201,940		218,615
Time deposits with other banks	4,357		2,987		3,236		3,236		4,481
Debt Securities:
Available for sale (at fair value)	1,841,845		1,916,231		2,015,967		1,871,742		1,860,734
Held to maturity (at amortized cost)	691,404		707,812		737,911		747,408		774,706
Total Debt Securities	2,533,249		2,624,043		2,753,878		2,619,150		2,635,440
Loans held for sale	2,979		5,967		2,838		3,151		1,620
Loans	10,011,186		10,117,919		10,134,395		8,144,724		6,690,845
Less: Allowance for credit losses	(149,661)		(159,715)		(155,640)		(113,895)		(95,329)
Net Loans	9,861,525		9,958,204		9,978,755		8,030,829		6,595,516
Bank premises and equipment, net	115,749		116,959		116,522		116,892		81,648
Other real estate owned	7,216		7,526		7,756		2,301		2,419
Goodwill	731,970		732,910		728,396		480,319		286,606
Other intangible assets, net	102,397		109,716		117,409		75,451		18,583
Bank owned life insurance	296,763		293,880		292,545		237,824		209,087
Net deferred tax assets	131,602		127,941		124,301		94,457		83,139
Other assets	339,218		333,916		338,529		280,212		208,081
Total Assets	$	14,823,007	$	15,041,932	$	15,255,408	$	12,145,762	$	10,345,235
Liabilities and Shareholders' Equity
Liabilities
Deposits
Noninterest demand	$	3,868,132	$	4,139,052	$	4,554,509	$	4,070,973	$	3,529,489
Interest-bearing demand	2,800,152		2,816,656		2,676,320		2,337,590		2,170,251
Savings	721,558		824,255		940,702		1,064,392		938,081
Money market	3,143,897		2,859,164		2,893,128		1,985,974		1,700,737
Other time certificates	821,406		628,036		598,483		369,389		312,840
Brokered time certificates	307,963		591,503		371,392		3,798		—
Time certificates of more than $250,000	444,726		424,601		275,167		149,479		114,016
Total Deposits	12,107,834		12,283,267		12,309,701		9,981,595		8,765,414
Securities sold under agreements to repurchase	276,450		290,156		267,606		172,029		94,191
Federal Home Loan Bank borrowings	110,000		160,000		385,000		150,000		—
Subordinated debt, net	106,136		105,970		105,804		84,533		71,857
Other liabilities	174,193		148,507		136,213		149,830		125,971
Total Liabilities	12,774,613		12,987,900		13,204,324		10,537,987		9,057,433
Shareholders' Equity
Common stock	8,515		8,509		8,461		7,162		6,148
Additional paid in capital	1,813,068		1,809,431		1,803,898		1,377,802		1,068,241
Retained earnings	453,117		437,087		421,271		423,863		412,166
Treasury stock	(14,035)		(14,171)		(13,113)		(13,019)		(11,539)
	2,260,665		2,240,856		2,220,517		1,795,808		1,475,016
Accumulated other comprehensive (loss) income, net	(212,271)		(186,824)		(169,433)		(188,033)		(187,214)
Total Shareholders' Equity	2,048,394		2,054,032		2,051,084		1,607,775		1,287,802
Total Liabilities & Shareholders' Equity	$	14,823,007	$	15,041,932	$	15,255,408	$	12,145,762	$	10,345,235
Common shares outstanding	85,150		85,086		84,609		71,618		61,476

CONSOLIDATED QUARTERLY FINANCIAL DATA							(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
(Amounts in thousands)	3Q'23			2Q'23			1Q'23			4Q'22			3Q'22
Credit Analysis
Net charge-offs (recoveries)	$	12,748		$	705		$	3,188		$	782		$	103
Net charge-offs (recoveries) to average loans	0.50		%	0.03		%	0.14		%	0.04		%	0.01		%
Allowance for credit losses	149,661			159,715			155,640			113,895			95,329
Non-acquired loans at end of period	6,343,121			6,264,044			6,048,453			5,944,194			5,653,357
Acquired loans at end of period	3,668,065			3,853,875			4,085,942			2,200,530			1,037,488
Total Loans	$	10,011,186		$	10,117,919		$	10,134,395		$	8,144,724		$	6,690,845
Total allowance for credit losses to total loans at end of period	1.49			1.58			1.54			1.40			1.42
Purchase discount on acquired loans at end of period	4.86			4.98			5.02			4.25			1.81
End of Period
Nonperforming loans	$	41,508		$	48,326		$	50,787		$	28,843		$	21,464
Other real estate owned	221			530			530			530			109
Properties previously used in bank operations included in other real estate owned	6,995			6,996			7,226			1,771			2,310
Total Nonperforming Assets	$	48,724		$	55,852		$	58,543		$	31,144		$	23,883
Nonperforming Loans to Loans at End of Period	0.41		%	0.48		%	0.50		%	0.35		%	0.32		%
Nonperforming Assets to Total Assets at End of Period	0.33			0.37			0.38			0.26			0.23
	September 30,			June 30,			March 31,			December 31,			September 30,
Loans	2023			2023			2023			2022			2022
Construction and land development	$	793,736		$	794,371		$	757,835		$	587,332		$	361,913
Commercial real estate - owner occupied	1,675,881			1,669,369			1,652,491			1,478,302			1,253,459
Commercial real estate - non-owner occupied	3,285,974			3,370,211			3,412,051			2,589,774			2,107,614
Residential real estate	2,418,903			2,396,352			2,354,394			1,849,503			1,599,765
Commercial and financial	1,584,050			1,610,895			1,650,485			1,348,636			1,182,384
Consumer	248,540			272,082			301,740			286,587			180,416
Paycheck Protection Program	4,102			4,639			5,399			4,590			5,294
Total Loans	$	10,011,186		$	10,117,919		$	10,134,395		$	8,144,724		$	6,690,845

AVERAGE BALANCES, INTEREST INCOME AND EXPENSES, YIELDS AND RATES 1									(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	3Q'23						2Q'23							3Q'22
	Average				Yield/		Average					Yield/		Average				Yield/
(Amounts in thousands)	Balance		Interest		Rate		Balance			Interest		Rate		Balance		Interest		Rate
Assets
Earning assets:
Securities:
Taxable	$	2,575,002	$	21,401	3.32	%	$	2,673,633		$	20,898	3.13	%	$	2,665,104	$	15,653	2.35	%
Nontaxable	15,280		119		3.11		15,621			120		3.08		22,064		174		3.15
Total Securities	2,590,282		21,520		3.32		2,689,254			21,018		3.13		2,687,168		15,827		2.36
Federal funds sold	547,576		7,415		5.37		327,433			4,313		5.28		203,815		1,062		2.07
Interest bearing deposits with other banks and other investments	90,039		1,062		4.68		90,783			710		3.14		45,193		581		5.10
Loans excluding PPP loans	10,039,270		150,037		5.93		10,096,394			148,420		5.90		6,597,828		73,730		4.43
PPP loans	4,341		11		1.01		4,834			12		1.00		10,114		320		12.54
Total Loans	10,043,611		150,048		5.93		10,101,228			148,432		5.89		6,607,942		74,050		4.45
Total Earning Assets	13,271,508		180,045		5.38		13,208,698			174,473		5.30		9,544,118		91,520		3.80
Allowance for credit losses	(158,440)						(156,207)							(91,348)
Cash and due from banks	168,931						165,625							331,947
Premises and equipment	116,704						117,726							76,357
Intangible assets	839,787						842,988							305,935
Bank owned life insurance	295,272						293,251							208,193
Other assets including deferred tax assets	372,241						415,208							210,136
Total Assets	$	14,906,003					$	14,887,289						$	10,585,338
Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing demand	$	2,804,243	$	15,013	2.12	%	$	2,666,314		$	7,560	1.14	%	$	2,215,899	$	757	0.14	%
Savings	770,503		465		0.24		906,936			427		0.19		944,128		65		0.03
Money market	2,972,495		22,918		3.06		2,806,672			19,196		2.74		1,806,014		802		0.18
Time deposits	1,619,572		16,461		4.03		1,425,344			14,477		4.07		445,840		380		0.34
Securities sold under agreements to repurchase	327,711		2,876		3.48		244,824			1,593		2.61		111,902		309		1.10
Federal Home Loan Bank borrowings	111,087		888		3.17		251,596			2,272		3.62		—		—		—
Subordinated debt	106,036		1,919		7.18		105,861			1,795		6.80		71,810		808		4.46
Total Interest-Bearing Liabilities	8,711,647		60,540		2.76		8,407,547			47,320		2.26		5,595,593		3,121		0.22
Noninterest demand	3,987,761						4,294,251							3,529,844
Other liabilities	133,846						114,962							110,426
Total Liabilities	12,833,254						12,816,760							9,235,863
Shareholders' equity	2,072,747						2,070,529							1,349,475
Total Liabilities & Equity	$	14,906,003					$	14,887,289						$	10,585,338
Cost of deposits					1.79	%						1.38	%					0.09	%
Interest expense as a % of earning assets					1.81	%						1.44	%					0.13	%
Net interest income as a % of earning assets			$	119,505	3.57	%				$	127,153	3.86	%			$	88,399	3.67	%
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
	Nine Months Ended September 30, 2023							Nine Months Ended September 30, 2022
	Average				Yield/			Average				Yield/
(Amounts in thousands, except ratios)	Balance		Interest		Rate			Balance		Interest		Rate
Assets
Earning assets:
Securities:
Taxable	$	2,649,127	$	61,543	3.10	%		$	2,530,742	$	38,081	2.01	%
Nontaxable	15,721		370		3.14			22,842		526		3.07
Total Securities	2,664,848		61,913		3.10			2,553,584		38,607		2.02
Federal funds sold	336,022		12,444		4.95			526,890		2,693		0.68
Interest bearing deposits with other banks and other investments	90,511		4,530		6.69			45,483		1,801		5.29
Loans excluding PPP loans	9,835,653		433,786		5.90			6,444,253		208,052		4.32
PPP loans	4,831		35		0.97			32,597		2,584		10.60
Total Loans	9,840,484		433,821		5.89			6,476,850		210,636		4.35
Total Earning Assets	12,931,865		512,708		5.30			9,602,807		253,737		3.53
Allowance for credit losses	(151,613)							(89,700)
Cash and due from banks	185,426							362,369
Premises and equipment	116,840							75,617
Intangible assets	811,483							305,895
Bank owned life insurance	287,756							206,854
Other assets including deferred tax assets	402,175							220,790
Total Assets	$	14,583,932						$	10,684,632
Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing demand	$	2,642,180	$	25,780	1.30	%		$	2,192,331	$	1,240	0.08	%
Savings	909,184		1,292		0.19			943,982		194		0.03
Money market	2,831,747		54,540		2.58			1,906,407		1,951		0.14
Time deposits	1,288,736		36,490		3.79			500,482		1,284		0.34
Securities sold under agreements to repurchase	249,242		5,333		2.86			116,805		442		0.51
Federal Home Loan Bank borrowings	214,415		5,936		3.70			—		—		—
Subordinated debt	103,469		5,328		6.88			71,741		1,823		3.40
Total Interest-Bearing Liabilities	8,238,973		134,699		2.19			5,731,748		6,934		0.16
Noninterest demand	4,204,389							3,462,931
Other liabilities	126,479							123,281
Total Liabilities	12,569,841							9,317,960
Shareholders' equity	2,014,083							1,366,672
Total Liabilities & Equity	$	14,583,932						$	10,684,632
Cost of deposits					1.33	%						0.07	%
Interest expense as a % of earning assets					1.39	%						0.10	%
Net interest income as a % of earning assets			$	378,009	3.91	%				$	246,803	3.44	%
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
	September 30,		June 30,			March 31,		December 31,		September 30,
(Amounts in thousands)	2023		2023			2023		2022		2022
Customer Relationship Funding
Noninterest demand
Commercial	$	3,089,488	$	3,304,761		$	3,622,441	$	3,148,778	$	2,827,591
Retail	570,727		615,536			673,686		764,274		447,848
Public funds	134,649		152,159			194,977		112,553		210,662
Other	73,268		66,596			63,405		45,368		43,388
Total Noninterest Demand	3,868,132		4,139,052			4,554,509		4,070,973		3,529,489
Interest-bearing demand
Commercial	1,618,755		1,555,486			1,233,845		886,894		759,286
Retail	994,224		1,058,993			1,209,664		1,191,192		1,199,112
Brokered	—		—			44,474		54,777		81,799
Public funds	187,173		202,177			188,337		204,727		130,054
Total Interest-Bearing Demand	2,800,152		2,816,656			2,676,320		2,337,590		2,170,251
Total transaction accounts
Commercial	4,708,243		4,860,247			4,856,286		4,035,672		3,586,877
Retail	1,564,951		1,674,529			1,883,350		1,955,466		1,646,960
Brokered	—		—			44,474		54,777		81,799
Public funds	321,822		354,336			383,314		317,280		340,716
Other	73,268		66,596			63,405		45,368		43,388
Total Transaction Accounts	6,668,284		6,955,708			7,230,829		6,408,563		5,699,740
Savings
Commercial	79,731		101,908			108,023		91,943		71,807
Retail	641,827		722,347			832,679		972,449		866,274
Total Savings	721,558		824,255			940,702		1,064,392		938,081
Money market
Commercial	1,625,455		1,426,348			1,542,220		932,518		788,009
Retail	1,362,390		1,275,721			1,279,712		984,561		857,914
Public funds	156,052		157,095			71,196		68,895		54,814
Total Money Market	3,143,897		2,859,164			2,893,128		1,985,974		1,700,737
Brokered time certificates	307,963		591,503			371,392		3,798		—
Other time certificates	1,266,132		1,052,637			873,650		518,868		426,856
	1,574,095		1,644,140			1,245,042		522,666		426,856
Total Deposits	$	12,107,834	$	12,283,267		$	12,309,701	$	9,981,595	$	8,765,414
Customer sweep accounts	$	276,450	$	290,156		$	267,606	$	172,029	$	94,191

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																Nine Months Ended
(Amounts in thousands, except per share data)	3Q'23			2Q'23				1Q'23			4Q'22			3Q'22			3Q'23			3Q'22
Net Income	$	31,414		$	31,249			$	11,827		$	23,927		$	29,237		$	74,490		$	82,580
Total noninterest income	17,793			21,576				22,445			17,651			16,103			61,814			48,440
Securities losses (gains), net	387			176				(107)			(18)			362			456			1,114
BOLI benefits on death (included in other income)	—			—				(2,117)			—			—			(2,117)			—
Total Adjustments to Noninterest Income	387			176				(2,224)			(18)			362			(1,661)			1,114
Total Adjusted Noninterest Income	18,180			21,752				20,221			17,633			16,465			60,153			49,554
Total noninterest expense	93,915			107,865				107,475			91,510			61,359			309,255			176,424
Salaries and wages	—			(1,573)				(4,240)			(5,680)			—			(5,813)			(3,605)
Outsourced data processing costs	—			(10,904)				(6,551)			(2,582)			—			(17,455)			(1,052)
Legal and professional fees	—			(1,664)				(4,789)			(6,485)			(1,791)			(6,453)			(6,055)
Other categories	—			(1,507)				(1,952)			(1,393)			(263)			(3,459)			(1,073)
Total merger related charges	—			(15,648)				(17,532)			(16,140)			(2,054)			(33,180)			(11,785)
Amortization of intangibles	(7,457)			(7,654)				(6,727)			(4,763)			(1,446)			(21,838)			(4,338)
Branch reductions and other expense initiatives	(3,305)			(571)				(1,291)			(176)			(960)			(5,167)			(1,034)
Total Adjustments to Noninterest Expense	(10,762)			(23,873)				(25,550)			(21,079)			(4,460)			(60,185)			(17,157)
Total Adjusted Noninterest Expense	83,153			83,992				81,925			70,431			56,899			249,070			159,267
Income Taxes	9,076			10,189				2,697			7,794			9,115			21,962			23,835
Tax effect of adjustments	2,826			6,095				5,912			5,062			1,222			14,833			4,631
Adjusted Income Taxes	11,902			16,284				8,609			12,856			10,337			36,795			28,466
Adjusted Net Income	$	39,737		$	49,203			$	29,241		$	39,926		$	32,837		$	118,181		$	96,220
Earnings per diluted share, as reported	$	0.37		$	0.37			$	0.15		$	0.34		$	0.47		$	0.89		$	1.33
Adjusted Earnings per Diluted Share	0.46			0.58				0.36			0.56			0.53			1.41			1.56
Average diluted shares outstanding	85,666			85,536				80,717			71,374			61,961			83,993			61,867
Adjusted Noninterest Expense	$	83,153		$	83,992			$	81,925		$	70,431		$	56,899		$	249,070		$	159,267
Provision for credit losses on unfunded commitments	—			—				(1,239)			—			(1,015)			(1,239)			(1,157)
Foreclosed property expense and net (loss) gain on sale	(274)			57				(195)			411			(9)			(412)			1,123
Net Adjusted Noninterest Expense	$	82,879		$	84,049			$	80,491		$	70,842		$	55,875		$	247,419		$	159,233
Revenue	$	137,099		$	148,539			$	153,597		$	137,360		$	104,387		$	439,235		$	294,893
Total Adjustments to Revenue	387			176				(2,224)			(18)			362			(1,661)			1,114
Impact of FTE adjustment	199			190				199			149			115			588			350
Adjusted Revenue on a fully taxable equivalent basis	$	137,685		$	148,905			$	151,572		$	137,491		$	104,864		$	438,162		$	296,357
Adjusted Efficiency Ratio	60.19		%	56.44		%		53.10		%	51.52		%	53.28		%	56.47		%	53.73		%
Net Interest Income	$	119,306		$	126,963			$	131,152		$	119,709		$	88,284		$	377,421		$	246,453
Impact of FTE adjustment	199			190				199			149			115			588			350
Net Interest Income including FTE adjustment	$	119,505		$	127,153			$	131,351		$	119,858		$	88,399		$	378,009		$	246,803
Total noninterest income	17,793			21,576				22,445			17,651			16,103			61,814			48,440
Total noninterest expense	93,915			107,865				107,475			91,510			61,359			309,255			176,424
Pre-Tax Pre-Provision Earnings	$	43,383		$	40,864			$	46,321		$	45,999		$	43,143		$	130,568		$	118,819
Total Adjustments to Noninterest Income	387			176				(2,224)			(18)			362			(1,661)			1,114
Total Adjustments to Noninterest Expense	(11,036)			(23,816)				(26,984)			(20,668)			(5,484)			(61,836)			(17,191)
Adjusted Pre-Tax Pre-Provision Earnings	$	54,806		$	64,856			$	71,081		$	66,649		$	48,989		$	190,743		$	137,124
Average Assets	$	14,906,003		$	14,887,289			$	13,947,976		$	12,139,856		$	10,585,338		$	14,583,932		$	10,684,632
Less average goodwill and intangible assets	(839,787)			(842,988)				(750,694)			(521,412)			(305,935)			(811,483)			(305,895)
Average Tangible Assets	$	14,066,216		$	14,044,301			$	13,197,282		$	11,618,444		$	10,279,403		$	13,772,449		$	10,378,737
Return on Average Assets (ROA)	0.84		%	0.84		%		0.34		%	0.78		%	1.10		%	0.68		%	1.03		%
Impact of removing average intangible assets and related amortization	0.20			0.22				0.18			0.16			0.07			0.20			0.08
Return on Average Tangible Assets (ROTA)	1.04			1.06				0.52			0.94			1.17			0.88			1.11
Impact of other adjustments for Adjusted Net Income	0.08			0.35				0.38			0.42			0.10			0.27			0.13
Adjusted Return on Average Tangible Assets	1.12			1.41				0.90			1.36			1.27			1.15			1.24

GAAP TO NON-GAAP RECONCILIATION							(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	Quarterly Trends																Nine Months Ended
(Amounts in thousands, except per share data)	3Q'23			2Q'23				1Q'23			4Q'22			3Q'22			3Q'23			3Q'22
Pre-Tax Pre-Provision return on Average Tangible Assets	1.38		%	1.33		%		1.58		%	1.69		%	1.71		%	1.43		%	1.57		%
Impact of adjustments on Pre-Tax Pre-Provision earnings	0.17			0.52				0.60			0.59			0.18			0.42			0.20
Adjusted Pre-Tax Pre-Provision Return on Tangible Assets	1.55			1.85				2.18			2.28			1.89			1.85			1.77
Average Shareholders' Equity	$	2,072,747		$	2,070,529			$	1,897,045		$	1,573,704		$	1,349,475		$	2,014,083		$	1,366,672
Less average goodwill and intangible assets	(839,787)			(842,988)				(750,694)			(521,412)			(305,935)			(811,483)			(305,895)
Average Tangible Equity	$	1,232,960		$	1,227,541			$	1,146,351		$	1,052,292		$	1,043,540		$	1,202,600		$	1,060,777
Return on Average Shareholders' Equity	6.01		%	6.05		%		2.53		%	6.03		%	8.60		%	4.94		%	8.08		%
Impact of removing average intangible assets and related amortization	5.89			6.03				3.43			4.33			2.93			5.15			2.74
Return on Average Tangible Common Equity (ROTCE)	11.90			12.08				5.96			10.36			11.53			10.09			10.82
Impact of other adjustments for Adjusted Net Income	0.89			4.00				4.38			4.69			0.95			3.05			1.31
Adjusted Return on Average Tangible Common Equity	12.79			16.08				10.34			15.05			12.48			13.14			12.13
Loan interest income1	$	150,048		$	148,432			$	135,341		$	105,437		$	74,050		$	433,821		$	210,636
Accretion on acquired loans	(14,843)			(14,580)				(15,942)			(9,710)			(2,242)			(45,365)			(8,679)
Loan interest income excluding accretion on acquired loans	$	135,205		$	133,852			$	119,399		$	95,727		$	71,808		$	388,456		$	201,957
Yield on loans1	5.93			5.89				5.86			5.29			4.45			5.89			4.35
Impact of accretion on acquired loans	(0.59)			(0.58)				(0.69)			(0.49)			(0.14)			(0.61)			(0.18)
Yield on loans excluding accretion on acquired loans	5.34		%	5.31		%		5.17		%	4.80		%	4.31		%	5.28		%	4.17		%
Net Interest Income1	$	119,505		$	127,153			$	131,351		$	119,858		$	88,399		$	378,009		$	246,803
Accretion on acquired loans	(14,843)			(14,580)				(15,942)			(9,710)			(2,242)			(45,365)			(8,679)
Net interest income excluding accretion on acquired loans	$	104,662		$	112,573			$	115,409		$	110,148		$	86,157		$	332,644		$	238,124
Net Interest Margin	3.57			3.86				4.31			4.36			3.67			3.91			3.44
Impact of accretion on acquired loans	(0.44)			(0.44)				(0.53)			(0.35)			(0.09)			(0.47)			(0.12)
Net interest margin excluding accretion on acquired loans	3.13		%	3.42		%		3.78		%	4.01		%	3.58		%	3.44		%	3.32		%
Security interest income1	$	21,520		$	21,018			$	19,375		$	18,694		$	15,827		$	61,913		$	38,607
Tax equivalent adjustment on securities	(22)			(23)				(26)			(34)			(35)			(71)			(109)
Security interest income excluding tax equivalent adjustment	$	21,498		$	20,995			$	19,349		$	18,660		$	15,792		$	61,842		$	38,498
Loan interest income1	$	150,048		$	148,432			$	135,341		$	105,437		$	74,050		$	433,821		$	210,636
Tax equivalent adjustment on loans	(177)			(167)				(173)			(115)			(80)			(517)			(241)
Loan interest income excluding tax equivalent adjustment	$	149,871		$	148,265			$	135,168		$	105,322		$	73,970		$	433,304		$	210,395
Net Interest Income1	$	119,505		$	127,153			$	131,351		$	119,858		$	88,399		$	378,009		$	246,803
Tax equivalent adjustment on securities	(22)			(23)				(26)			(34)			(35)			(71)			(109)
Tax equivalent adjustment on loans	(177)			(167)				(173)			(115)			(80)			(517)			(241)
Net interest income excluding tax equivalent adjustment	$	119,306		$	126,963			$	131,152		$	119,709		$	88,284		$	377,421		$	246,453
1On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost.

EX-99.2

EARNINGS PRESENTATION THIRD QUARTER 2023 2023

2THIRD QUARTER 2023 EARNINGS PRESENTATION This presentation contains “forward-looking statements” within the meaning, and protections, of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements about future financial and operating results, cost savings, enhanced revenues, economic and seasonal conditions in the Company’s markets, and improvements to reported earnings that may be realized from cost controls, tax law changes, new initiatives and for integration of banks that the Company has acquired, or expects to acquire, as well as statements with respect to Seacoast's objectives, strategic plans, expectations and intentions and other statements that are not historical facts. Actual results may differ from those set forth in the forward-looking statements. Forward-looking statements include statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates and intentions about future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond the Company’s control, and which may cause the actual results, performance or achievements of Seacoast Banking Corporation of Florida (“Seacoast” or the “Company”) or its wholly-owned banking subsidiary, Seacoast National Bank (“Seacoast Bank”), to be materially different from results, performance or achievements expressed or implied by such forward-looking statements. You should not expect the Company to update any forward-looking statements. All statements other than statements of historical fact could be forward-looking statements. You can identify these forward-looking statements through the use of words such as "may", "will", "anticipate", "assume", "should", "support", "indicate", "would", "believe", "contemplate", "expect", "estimate", "continue", "further", "plan", "point to", "project", "could", "intend", "target" or other similar words and expressions of the future. These forward-looking statements may not be realized due to a variety of factors, including, without limitation: the impact of current and future economic and market conditions generally (including seasonality) and in the financial services industry, nationally and within Seacoast’s primary market areas, including the effects of inflationary pressures, changes in interest rates, slowdowns in economic growth, and the potential for high unemployment rates, as well as the financial stress on borrowers and changes to customer and client behavior and credit risk as a result of the foregoing; potential impacts of the recent adverse developments in the banking industry highlighted by high-profile bank failures, including impacts on customer confidence, deposit outflows, liquidity and the regulatory response thereto; governmental monetary and fiscal policies, including interest rate policies of the Board of Governors of the Federal Reserve, as well as legislative, tax and regulatory changes, including those that impact the money supply and inflation; the risks of changes in interest rates on the level and composition of deposits (as well as the cost of, and competition for, deposits), loan demand, liquidity and the values of loan collateral, securities, and interest rate sensitive assets and liabilities; interest rate risks, sensitivities and the shape of the yield curve; changes in accounting policies, rules and practices; changes in retail distribution strategies, customer preferences and behavior generally and as a result of economic factors, including heightened inflation; 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; the Company’s concentration in commercial real estate loans and in real estate collateral in Florida; Seacoast’s ability to comply with any regulatory requirements; the effects of problems encountered by other financial institutions that adversely affect Seacoast or the banking industry; inaccuracies or other failures from the use of models, including the failure of assumptions and estimates, as well as differences in, and changes to, economic, market and credit conditions; the impact on the valuation of Seacoast’s investments due to market volatility or counterparty payment risk, as well as the effect of a decline in stock market prices on our fee income from our wealth management business; statutory and regulatory dividend restrictions; increases in regulatory capital requirements for banking organizations generally; the risks of mergers, acquisitions and divestitures, including Seacoast’s ability to continue to identify acquisition targets, successfully acquire and integrate desirable financial institutions and realize expected revenues and revenue synergies; changes in technology or products that may be more difficult, costly, or less effective than anticipated; the Company’s ability to identify and address increased cybersecurity risks; fraud or misconduct by internal or external actors, which Seacoast may not be able to prevent, detect or mitigate; inability of Seacoast’s risk management framework to manage risks associated with the Company’s business; dependence on key suppliers or vendors to obtain equipment or services for the business on acceptable terms, including the impact of supply chain disruptions; reduction in or the termination of Seacoast’s ability to use the online- or mobile-based platform that is critical to the Company’s business growth strategy; the effects of war or other conflicts, including the impacts related to or resulting from Russia’s military action in Ukraine, acts of terrorism, natural disasters, including hurricanes in the Company’s footprint, health emergencies, epidemics or pandemics, or other catastrophic events that may affect general economic conditions; unexpected outcomes of and the costs associated with, existing or new litigation involving the Company; Seacoast’s ability to maintain adequate internal controls over financial reporting; potential claims, damages, penalties, fines and reputational damage resulting from pending or future litigation, regulatory proceedings and enforcement actions; the risks that deferred tax assets could be reduced if estimates of future taxable income from the Company’s operations and tax planning strategies are less than currently estimated and sales of capital stock could trigger a reduction in the amount of net operating loss carryforwards that the Company may be able to utilize for income tax purposes; the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, non-bank financial technology providers, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions operating in the Company’s market areas and elsewhere, including institutions operating regionally, nationally and internationally, together with such competitors offering banking products and services by mail, telephone, computer and the Internet; the failure of assumptions underlying the establishment of reserves for possible credit losses; risks related to environmental, social and governance (“ESG”) matters, the scope and pace of which could alter Seacoast’s reputation and shareholder, associate, customer and third-party affiliations; and other factors and risks described under “Risk Factors” herein and in any of the Company's subsequent reports filed with the SEC and available on its website at www.sec.gov All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in the Company’s annual report on Form 10-K for the year ended December 31, 2022 and quarterly reports on Form 10-Q for the quarters ended March 31, 2023 and June 30, 2023 under "Special Cautionary Notice Regarding Forward-Looking Statements" and "Risk Factors", and otherwise in the Company’s SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at www.sec.gov. Cautionary Notice Regarding Forward-Looking Statements

3THIRD QUARTER 2023 EARNINGS PRESENTATION • $14.8 billion in assets as of September 30, 2023, operating in the nation’s fastest growing and third most populated state • Strong presence in Florida’s most attractive markets, increasing to #15 Florida market share in 2023 from #18 in 2022 ▪ #1 Florida-based bank in Orlando MSA ▪ #1 Florida-based bank in Palm Beach county ▪ #1 market share in Port St. Lucie MSA • A top three publicly traded community bank headquartered in Florida • Market Cap: $1.9 billion as of September 30, 2023 • Serving over 280,000 customers throughout Florida, with a wide variety of customer segments and industries • Strong capital position, supporting further organic growth and opportunistic acquisitions • Unique customer analytics capabilities, driving value creation with new, acquired, and existing customers Jacksonville MSA West Palm Beach Fort Lauderdale Miami MSA Port St. Lucie MSA Orlando MSA Tampa St. Petersburg MSA Naples Fort Myers MSA Valuable Florida Franchise with Strong Capital and Liquidity SEACOAST BANK FOOTPRINT

4THIRD QUARTER 2023 EARNINGS PRESENTATION • Increased Florida market share to #15 compared to #18. • 3.7% annualized organic deposit growth, with the additional liquidity used to pay down brokered deposits and FHLB borrowings. • Strong capital, with a Tier 1 capital ratio of 13.9% and the ratio of tangible common equity to tangible assets increasing to 8.68%. Adjusting all HTM securities to fair value, the tangible common equity to tangible assets ratio remains at a peer- leading 7.89%. • Loan-to-deposit ratio remains low at 83%, providing balance sheet flexibility moving forward. • Asset quality remains strong, with nonperforming and criticized loans each declining from the prior quarter. • Continued disciplined expense management, completing a reduction in force reducing headcount by 6%, and consolidating a branch location. • Tangible book value per share increased to $14.26. Removing the impact of the change in accumulated comprehensive income, tangible book value per share at September 30, 2023 would have been higher by $0.30, reaching $14.56, an increase of 8% on an annualized basis. Third Quarter 2023 Highlights 1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP. Comparisons are to the second quarter of 2023 unless otherwise stated

5THIRD QUARTER 2023 EARNINGS PRESENTATION Net Interest Income ($ in th ou sa nd s) $88,399 $119,858 $131,351 $127,153 $119,505 3.67% 4.36% 4.31% 3.86% 3.57% 3.58% 4.01% 3.78% 3.42% 3.13% Net Interest Income Net Interest Margin NIM, excluding accretion on acquired loans 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 • Net interest income1 totaled $119.5 million, a decrease of $7.6 million, or 6%, from the prior quarter. The decrease was driven by higher deposit costs, including new requirements by the Florida Bar Association for higher rates on certain trust accounts, and by changes in product mix. These were partially offset by higher interest income on securities and loans. • Net interest margin contracted 29 basis points to 3.57% and, excluding the effect of accretion on acquired loans, net interest margin decreased 29 basis points to 3.13%. The decline in the net interest margin from the prior quarter was due to the impact of rising deposit rates. • Securities yields expanded 19 basis points to 3.32%. • Loan yields increased four basis points from the prior quarter to 5.93%. Excluding the effect of accretion on acquired loans, yields increased to 5.34%, with increases from higher rates and new production partially offset by prepayments. • The cost of deposits increased 41 basis points to 1.79%, primarily the result of higher short term interest rates, and an increasingly competitive deposit market. 1Calculated on a fully taxable equivalent basis using amortized cost.

6THIRD QUARTER 2023 EARNINGS PRESENTATION $16,103 $21,576 $17,793 $3,504 $4,560 $4,648 $4,138 $5,066 $1,684 $2,732 $3,318 $3,138 $434 $576 $410 $3,932 $4,828 $4,533 $1,363 $2,068 $2,197 BOLI Other Income Insurance Agency Income Mortgage Banking Wealth Management Interchange Income Service Charges 3Q'22 2Q'23 3Q'23 $16,465 $21,752 $18,180 $3,504 $4,560 $4,648 $4,138 $5,066 $1,684 $2,732 $3,318 $3,138 $434 $576 $410 $4,294 $5,004 $4,920 $1,363 $2,068 $2,197 BOLI Other Income Insurance Agency Income Mortgage Banking Wealth Management Interchange Income Service Charges 3Q'22 2Q'23 3Q'23 Adjusted Noninterest Income1 ($ in thousands) 2 3 Noninterest Income ($ in thousands) 1 Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP. 2 Other Income includes income and gains on SBIC investments, SBA gains, marine finance fees, other fees related to customer activity and securities losses of $362 thousand in 3Q’22, $176 thousand in 2Q'23 and $387 thousand in 3Q'23. 3 Other Income on an adjusted basis includes income and gains on SBIC investments, SBA gains, marine finance fees, and other fees related to customer activity. Noninterest Income Noninterest income totaled $17.8 million in the third quarter of 2023, a decrease of $3.8 million, or 18%, compared to the prior quarter, and an increase of $1.7 million, or 10%, compared to the prior year quarter. Of the $3.8 million decrease in the third quarter of 2023, the $3.4 million decline in interchange income results from the impact of the Durbin amendment, which became effective for Seacoast on July 1, 2023, and limits network interchange fees earned on debit card transactions. $1,160 $1,160 $1,182 $1,182

7THIRD QUARTER 2023 EARNINGS PRESENTATION $793 $870 $1,025 $1,158 $1,161 $1,239 $1,228 $1,162 $1,228 $1,387 $1,518 $1,578 $1,579 3Q'20 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 1Q'22 2Q'22 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 Assets Under Management ($ in millions) 24% CAGR Continued Focus on Building Wealth Management Assets under management totaled $1.6 billion at September 30, 2023, increasing 29% from September 30, 2022. This is a result of the wealth management team’s continuing success at winning business with commercial relationships and high net worth families across the footprint. In the past three years, assets under management have increased at a compound annual growth rate (“CAGR”) of 24%.

8THIRD QUARTER 2023 EARNINGS PRESENTATION $56,899 $83,992 $83,153 $32,488 $50,511 $50,379$5,598 $9,318 $8,778 $6,518 $9,911 $9,724 $2,003 $2,397 $2,773 $9,532 $9,739 $9,241 Other Expense Legal & Professional Occupancy & Telephone FDIC Assessment Data Processing Cost Salaries & Benefits 3Q'22 2Q'23 3Q'23 $61,359 $107,865 $93,915 $32,494 $52,627 $53,637$1,446 $7,654 $7,457 $5,393 $20,222 $8,714 $7,481 $10,928 $9,810 $3,794 $4,062 $2,679 $9,991 $10,256 $9,360 Other Expense Legal & Professional Occupancy & Telephone FDIC Assessment Data Processing Cost Amortization of Intangibles Salaries & Benefits 3Q'22 2Q'23 3Q'23 Adjusted Noninterest Expense1 ($ in thousands) 2 2 Noninterest Expense ($ in thousands) Noninterest expense decreased $14.0 million on a GAAP basis and decreased $0.8 million on an adjusted basis. Changes quarter-over-quarter on an adjusted basis include: • Salaries and benefits decreased $0.1 million to $50.4 million in the third quarter of 2023, reflecting lower base salaries expense partially offset by lower service origination fees attributed to lower loan production. • Data processing cost decreased $0.5 million to $8.8 million in the third quarter of 2023 reflecting the benefits of acquisition-related system integration. • Occupancy and telephone decreased $0.2 million to $9.7 million in the third quarter of 2023 reflecting branch consolidation and cost synergies from recent acquisitions, including one additional branch consolidation in July. • Legal and professional fees increased by $0.4 million to $2.8 million in the third quarter of 2023, reflecting the impact of one-time projects during the third quarter. • Other expense decreased $0.5 million to $9.2 million in the third quarter of 2023, reflecting the benefit of acquisition-related cost synergies. 1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP. 2Other Expense includes marketing expenses, provision for unfunded commitments, foreclosed property expense and net loss/(gain) on sale and other expenses associated with ongoing business operations. Noninterest Expense $2,116 $2,116 $760 $760 $2,258 $2,258

9THIRD QUARTER 2023 EARNINGS PRESENTATION 62% 48% 53% 55% 60% 54% 62% 56% 57% 63% 65% 67% 63% 3Q '20 4Q '20 1Q '21 2Q '21 3Q '21 4Q '21 1Q '22 2Q '22 3Q '22 4Q '22 1Q '23 2Q '23 3Q '23 Efficiency Ratio Trend 55% 49% 52% 53% 51% 53% 55% 53% 53% 52% 53% 56% 60% 3Q '20 4Q '20 1Q '21 2Q '21 3Q '21 4Q '21 1Q '22 2Q '22 3Q '22 4Q '22 1Q '23 2Q '23 3Q '23 GAAP - Efficiency Adjusted - Efficiency1 • The efficiency ratio was 62.6% for the third quarter of 2023 compared to 67.3% in the prior quarter and 57.1% in the third quarter of 2022. • The adjusted efficiency ratio1 was 60.2% for the third quarter of 2023 compared to 56.4% in the prior quarter and 53.3% in the third quarter of 2022. 1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP. Freedom Bank Legacy Bank of Florida Sabal Palm Bank and Florida Business Bank Drummond Bank and Apollo Bank Professional Bank Increase in adjusted efficiency ratio reflects the impact of: • higher deposit rates, including the first full quarter of Florida’s IOTA rule change • first time impact of the Durbin Amendment on interchange income

10THIRD QUARTER 2023 EARNINGS PRESENTATION $6,691 $8,145 $10,134 $10,118 $10,011 4.45% 5.29% 5.86% 5.89% 5.93% 4.31% 4.80% 5.17% 5.31% 5.34% Yield Excluding Accretion on Acquired Loans Reported Yield Total Loans 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 Total Loans End-of-Period ($ in millions) Disciplined Approach to Lending in a Strong Florida Economy Loans outstanding declined by $107 million as the Company maintains its disciplined approach to lending. Loan yields increased four basis points from the prior quarter to 5.93%. Excluding the effect of accretion on acquired loans, yields increased to 5.34%, with increases from higher rates and new production partially offset by prepayments. New loan add on yields have increased to approximately 8%.

11THIRD QUARTER 2023 EARNINGS PRESENTATION Commercial Real Estate - Owner Occupied $1,675,881 17% Construction and Land Development $793,736 8% Consumer $248,540 2% Commercial & Financial $1,584,050 16% Commercial Real Estate - Non-Owner Occupied $3,285,974 33% Residential Real Estate $2,418,903 24% At September 30, 2023 ($ in thousands) Seacoast's Lending Strategy Sustains a Diverse Loan Portfolio The Company remains focused and committed to its strict credit underwriting standards. Construction and land development and commercial real estate loans, as defined in regulatory guidance, represent 48% and 234%, respectively, of total consolidated risk based capital. Seacoast’s average loan size is $306 thousand and the average commercial loan size is $683 thousand. 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 are broadly distributed. Construction & Land Development and CRE Loans to Total Risk Based Capital 276% 234% 64% 48% CRE Construction & Land Development Peers SBCF Peer Source: 2Q’23 S&P Capital Paycheck Protection Program $4,102 <1%

12THIRD QUARTER 2023 EARNINGS PRESENTATION At September 30, 2023 Loan Portfolio Mix CRE-Retail, 10.41% CRE-Office, 5.95% CRE-Multifamily 5+, 5.01% CRE-Hotel/Motel, 3.94% CRE-Industrial/Warehouse, 3.55% CRE-Other, 3.96% OOCRE-Office, 4.88% OOCRE-Other, 11.86% Construction & Land Development, 7.93% Commercial & Financial, 15.82% Residential, 24.16% Consumer, 2.48% PPP, 0.04% Segment Balance ($ in thousands) % of Balance Non-Owner Occupied CRE Retail $ 1,041,818 10.41 % Office 595,381 5.95 Multifamily 5+ 501,614 5.01 Hotel/Motel 394,367 3.94 Industrial/Warehouse 355,213 3.55 Other 397,581 3.96 Total Non-Owner Occupied CRE $ 3,285,974 32.82 % OOCRE-Office 488,431 4.88 % OOCRE-Other 1,187,450 11.86 Construction & Land Development 793,736 7.93 Commercial & Financial 1,584,050 15.82 Residential 2,418,903 24.16 Consumer 248,540 2.48 PPP 4,102 0.04 Total Loans $ 10,011,186 100.00 % Non-owner occupied commercial real estate are properties where the source of repayment is from the sale or lease of the property, or the owner does not occupy the property Owner-occupied CRE is used by the owner, where the primary source of repayment is the cash flow from business operations housed within the property.

13THIRD QUARTER 2023 EARNINGS PRESENTATION Non-owner Occupied Commercial Real Estate in Florida’s Strongest Markets Non-owner Occupied Commercial Real Estate by MSA Balance ($ in thousands) Balance % of Total Loans Miami / Dade County $ 617,179 6.15 % Orlando-Kissimmee, FL MSA 444,550 4.44 Ft. Lauderdale / Broward County 369,720 3.69 West Palm Beach / Palm Beach County 329,032 3.29 Tampa-St. Petersburg-Clearwater, FL 192,758 1.93 Sarasota-Bradenton-Venice, FL MSA 138,826 1.39 Deltona-Daytona Beach-Ormond Beach, FL MSA 111,714 1.12 Port St. Lucie, FL MSA 105,146 1.05 Jacksonville, FL MSA 97,944 0.98 Palm Bay-Melbourne-Titusville, FL MSA 97,255 0.97 All Other FL 609,253 6.09 Outside FL 172,597 1.72 13% of total loans in vibrant, South Florida tri- county area. Between 2010 and 2020, Florida’s population grew 14.6%, twice the rate of overall U.S. population growth. Florida has been the top state for net in-migration for the past five years. Compared to national market, Florida office continues to report lower vacancy rates and increasing rental rates. Sources: U.S. Census data, JLL

14THIRD QUARTER 2023 EARNINGS PRESENTATION Non-owner Occupied Commercial Real Estate CRE Non-Owner Occupied ($ in ‘000s) Balance Balance % of Total Loans Average Loan Size 30+ Days Past- Accruing Non Accrual Weighted LTV Retail $ 1,041,818 10.41 % $ 1,996 $ — $ — 52 % Office 595,381 5.95 1,637 106 231 55 Multifamily 5+ 501,614 5.01 953 301 272 56 Hotel/Motel 394,367 3.94 3,749 205 1,012 52 Industrial/Warehouse 355,213 3.55 1,758 — 1,106 53 Other 397,581 3.96 743 — 7,029 53 Total $ 3,285,974 32.82 % $ 1,645 $ 612 $ 9,650 54 % Retail Segment: Targets grocery or credit tenant anchored shopping plazas, single credit tenant retail buildings, smaller outparcels and other retail units. • 10.41% of total loans. • 52% weighted average loan-to-value, low leverage. • $2.0 million average loan size. • 14 loans over $10 million. Office Segment: Targets low to mid-rise suburban offices, broadly diversified across many professional services. • 5.95% of total loans. • 55% weighted average loan-to-value, low leverage. • $1.6 million average loan size. • 6 loans over $10 million.

15THIRD QUARTER 2023 EARNINGS PRESENTATION Allowance for Credit Losses and Purchase Discount ($ in thousands) Loans Outstanding Allowance for Credit Losses % of Category Purchase Discount % of Category Construction and Land Development $ 793,736 $ 7,685 0.97 % $ 10,235 1.29 % Owner Occupied Commercial Real Estate 1,675,881 6,065 0.36 28,614 1.71 Commercial Real Estate 3,285,974 52,441 1.60 85,251 2.59 Residential Real Estate 2,418,903 38,735 1.60 34,027 1.41 Commercial & Financial 1,584,050 31,525 1.99 24,830 1.57 Consumer 248,540 13,210 5.32 3,498 1.41 Total Excluding PPP $ 10,007,084 $ 149,661 1.50 % $ 186,455 1.86 % Paycheck Protection Program $ 4,102 $ — — % $ — — % Total $ 10,011,186 $ 149,661 1.49 % $ 186,455 1.86 % The total allowance for credit losses of $149.7 million as of September 30, 2023, represents management’s estimate of lifetime expected credit losses. Combined with the $186.5 million remaining unrecognized discount on acquired loans, a total of $336.1 million, or 3.4%, of total loans is available to cover potential losses. As acquired loans are repaid, the unrecognized discount is earned as an adjustment to yield over the life of the loans. Additionally, a reserve for potential credit losses on lending-related commitments of $4.7 million is reflected within Other Liabilities.

16THIRD QUARTER 2023 EARNINGS PRESENTATION Net Charge-Offs $12,748 NCO NCO/Average Loans 3Q’22 4Q’22 1Q’23 2Q’23 3Q’23 ($ in thousands) Nonperforming Loans and Criticized and Classified Loans $21,464 $28,843 $50,787 $48,326 $41,508 0.32% 0.35% 0.50% 0.48% 0.41% 0.80% 1.42% 1.60% 1.40% 1.36% NPL NPL/Total Loans Criticized + Classified Loans/Total Assets 3Q’22 4Q’22 1Q’23 2Q’23 3Q’23 $95,329 $113,895 $155,640 $159,715 $149,661 1.42% 1.40% 1.54% 1.58% 1.49% ACL ACL/Total Loans 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 Allowance for Credit Losses Continued Strong Asset Quality Trends Credit metrics remain strong, with nonperforming and criticized and classified loans at historically low levels. Net charge-offs during the third quarter of 2023 include the complete charge-off of an $11.3 million acquired loan. This had no impact on earnings or capital, as the Company expected and fully reserved for the loss at acquisition through purchase accounting. The increase in the allowance for credit losses to total loans in the first quarter of 2023 reflects the acquisition of the Professional Bank portfolio. 0.01% 0.03% $103 0.04% $782 0.14% $3,188 $705 0.50%

17THIRD QUARTER 2023 EARNINGS PRESENTATION Investment Securities Performance and Composition Unrealized Loss in Securities as of September 30, 2023 (in thousands) Amortized Cost Fair Value Net Unrealized Gain /(Loss) Δ from 2Q’23 Available for Sale Government backed $ 39,388 $ 38,436 $ (952) $ (643) Agency mortgage backed 1,593,306 1,326,639 (266,667) (36,278) Private label MBS and CMOs 139,089 125,187 (13,902) (565) CLO 307,664 304,168 (3,496) 3,708 Municipal 21,768 19,652 (2,116) (612) Other debt securities 27,293 27,763 470 182 Total Available for Sale $ 2,128,508 $ 1,841,845 $ (286,663) $ (34,208) Held to Maturity Agency mortgage backed $ 691,404 $ 537,218 $ (154,186) $ (23,960) Total Held to Maturity $ 691,404 $ 537,218 $ (154,186) $ (23,960) Total Securities $ 2,819,912 $ 2,379,063 $ (440,849) $ (58,168) ($ in m ill io ns ) $775 $747 $738 $708 $691 $1,861 $1,872 $2,016 $1,916 $1,842 2.36% 2.77% 2.85% 3.13% 3.32% HTM Securities AFS Securities Yield 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 • Portfolio yield increased 19 basis points to 3.32% from 3.13% in the prior quarter. • AFS securities ended the quarter with a net unrealized loss of $286.7 million compared to a net unrealized loss of $252.5 million at June 30, 2023. • HTM securities ended the quarter with a net unrealized loss of $154.2 million compared to a net unrealized loss of $130.2 million at June 30, 2023. • High quality portfolio consisting of 81% agency backed securities, with the remainder comprised primarily of highly-rated investment grade bonds. CLO portfolio is entirely AA/ AAA rated. • AFS portfolio duration of 4.1, total portfolio duration of 4.7.

18THIRD QUARTER 2023 EARNINGS PRESENTATION Deposits End-of-Period ($ in millions) $8,765 $9,982 $12,310 $12,283 $12,108 3.25% 4.50% 5.00% 5.25% 5.50% 0.09% 0.21% 0.77% 1.38% 1.79% Total Deposits Fed Funds Cost of Deposits 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 Distinctive Deposit Franchise Supported by Attractive Markets 3.7% annualized organic deposit growth, with the resulting additional liquidity used to pay down brokered deposits and FHLB borrowings. Continued focus on organic growth and relationship-based funding, in combination with our innovative analytics platform, supports a well-diversified, low-cost deposit portfolio. Transaction accounts represent 55% of overall deposit funding. Average deposits per banking center were $157 million, unchanged from the prior quarter.

19THIRD QUARTER 2023 EARNINGS PRESENTATION Deposits End-of-Period ($ in millions) $8,765 $9,982 $12,310 $12,283 $12,108 Transaction Accounts Savings Money Market Brokered Other Time Deposits 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 Granular, Diverse and Relationship-Focused Deposit Base Excluding brokered deposits, total deposits increased by $108 million, or 3.7% annualized. Noninterest demand deposits are a peer-leading 32% of overall deposits. The Company benefits from a granular deposit franchise, with the top ten depositors representing approximately 3% of total deposits. Consumer deposits represent 43% of total deposits, with an average balance per account of $24 thousand. Business deposits represent 57% of total deposits, with an average balance per account of $111 thousand. The average tenure for a Seacoast customer is 9.7 years. 64% 11% 19% 5% 64% 11% 20% 5% 58% 8% 24% 7% 57% 7% 23% 8% 10% 26% 6% 55% 1% 1% 3% 5% 3%

20THIRD QUARTER 2023 EARNINGS PRESENTATION Liquidity Sources vs Uninsured Deposits Cash and Borrowing Capacity vs. Uninsured Deposits ($ in millions) $6,445 $3,536 $696 $2,647 $369 $1,808 $300 $625 Borrowing Capacity + Cash Uninsured and Uncollateralized Deposits Total Cash & Borrowing Capacity = $6.4 Billion Uninsured and Uncollateralized Deposits = $3.5 Billion Uninsured and uncollateralized deposits represent 29% of total deposits. Total liquidity sources of $6.4 billion compared to uninsured and uncollateralized deposits of $3.5 billion, representing a 182% coverage ratio. Without using FHLB borrowing capacity, lines of credit, or liquidating unpledged securities, SBCF could fund the loss of all uninsured and uncollateralized deposits with cash and borrowing capacity at the Federal Reserve. Uninsured deposits represent 34% of overall deposit accounts. This includes public funds, which are protected from loss beyond FDIC insurance limits. Unpledged Securities Lines of Credit Discount Window Cash BTFP FHLB

21THIRD QUARTER 2023 EARNINGS PRESENTATION $15.98 $14.69 $14.25 $14.24 $14.26 $20.95 $22.45 $24.24 $24.14 $24.06 Tangible Book Value Per Share Book Value Per Share 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 9.8% 9.1% 8.4% 8.5% 8.7% 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 17.5% 15.8% 14.6% 14.7% 15.0% 16.5% 14.8% 13.4% 13.5% 13.9% Total Risk Based Capital Tier 1 Ratio 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 11.5% 10.4% 6.0% 12.1% 11.9%12.5% 15.1% 10.3% 16.1% 12.8% GAAP - ROTCE Adjusted - ROTCE 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP. 2FDICIA defines well capitalized as 10.0% for total risk based capital and 8.0% for Tier 1 ratio at a total Bank level. Tangible Book Value and Book Value Per Share Tangible Common Equity / Tangible Assets Total Risk Based and Tier 1 CapitalReturn on Tangible Common Equity 1 10.0%2 8.0%2 Robust Capital Position Supporting a Fortress Balance Sheet

Tracey L. Dexter Chief Financial Officer Tracey.Dexter@SeacoastBank.com (772) 403-0461 Michael Young Treasurer & Director of Investor Relations Michael.Young@SeacoastBank.com (772) 403-0451 INVESTOR RELATIONS NASDAQ: SBCF

23THIRD QUARTER 2023 EARNINGS PRESENTATION Appendix

24THIRD QUARTER 2023 EARNINGS PRESENTATION Quarterly Trend Nine Months Ended (Amounts in thousands) 3Q'23 2Q'23 1Q'23 4Q'22 3Q'22 3Q'23 3Q'22 Commercial pipeline at period end $ 300,798 $ 217,574 $ 297,380 $ 395,652 $ 530,430 $ 300,798 $ 530,430 Commercial loan originations 106,497 317,378 321,665 489,605 340,438 745,540 1,175,279 Residential pipeline-saleable at period end 6,820 11,492 6,614 4,207 6,563 6,820 6,563 Residential loans-sold 17,625 19,078 13,935 10,652 16,381 50,638 110,269 Residential pipeline-portfolio at period end 20,945 27,110 48,371 17,149 60,684 20,945 60,684 Residential loans-retained 43,962 85,294 90,058 74,272 69,272 219,314 347,725 Consumer pipeline at period end 24,482 28,446 38,742 36,585 43,732 24,482 43,732 Consumer originations 76,531 97,184 110,602 88,746 133,093 284,317 342,887 Total Pipelines at Period End $ 353,045 $ 284,622 $ 391,107 $ 453,593 $ 641,409 $ 353,045 $ 641,409 Total Originations $ 244,615 $ 518,934 $ 536,260 $ 663,275 $ 559,184 $ 1,299,809 $ 1,976,160 Loan Production and Pipeline Trend

25THIRD QUARTER 2023 EARNINGS PRESENTATION Recognition In October 2023, Seacoast was recognized among Fortune’s Best Workplaces for Women for 2023. Seacoast sets a leading example by fostering inclusivity, empowering women, and creating a workplace where every individual can reach their full potential. Seacoast has been Certified™ by Great Place To Work® for 2023. As the global authority on workplace culture, Great Place To Work® brings 30 years of groundbreaking research and data to recognize workplaces that create the conditions for an overwhelmingly positive employee experience. Seacoast earned recognition from the South Florida Business Journal and the Orlando Business Journal as one of 2023’s Best Places to Work and has received similar honors the past two years from American Banker.

26THIRD QUARTER 2023 EARNINGS PRESENTATION Florida Population Trends Florida’s economic strength is evident. Individual and business migration has surged, and the economy has diversified across finance and technology. Florida’s population growth has roughly doubled the national average. That trend is projected to continue over the next 5 years. Between 2010 and 2020, Florida’s population grew at twice the rate of overall U.S. population growth 14.6% Florida was the top state for net in-migration for the fifth consecutive year #1 2023 2010-2023 2023 2023-2028 2023-2028 MSA Market Rank1 Number of Branches1 Deposits In Market ($000)1 Deposit Market Share (%)1 Percent of National Franchise (%)1 Total Population (Actual) Population Change (%) Projected Population Change (%) Median Household Income ($) Projected HH Income Change (%) Miami-Fort Lauderdale-Pompano Beach, FL 15 22 $ 3,970,923 1.19 % 32.33 % 6,162,977 10.75 % 1.95 % $ 66,672 10.76 % Port St. Lucie, FL 1 11 3,180,325 24.20 25.89 511,894 20.70 7.53 68,090 11.74 Orlando-Kissimmee-Sanford, FL 8 13 1,732,373 2.38 14.10 2,778,772 30.19 6.35 68,251 10.63 Tampa-St. Petersburg-Clearwater, FL 24 5 555,404 0.45 4.52 3,268,872 17.45 5.19 65,247 11.68 Gainesville, FL 3 7 571,640 8.90 4.65 348,186 14.13 4.87 53,785 13.52 Sources: S&P Capital IQ. 1FDIC data as of June 30, 2023.

27THIRD QUARTER 2023 EARNINGS PRESENTATION This presentation contains financial information determined by methods other than Generally Accepted Accounting Principles (“GAAP”). The financial highlights provide reconciliations between GAAP and adjusted financial measures including net income, noninterest income, noninterest expense, tax adjustments and other financial ratios. Management uses these non-GAAP financial measures in its analysis of the Company’s performance and believes these presentations provide useful supplemental information, and a clearer understanding of the Company’s performance. The Company believes the non-GAAP measures enhance investors’ understanding of the Company’s business and performance and if not provided would be requested by the investor community. These measures are also useful in understanding performance trends and facilitate comparisons with the performance of other financial institutions. The limitations associated with operating measures are the risk that persons might disagree as to the appropriateness of items comprising these measures and that different companies might define or calculate these measures differently. The Company provides reconciliations between GAAP and these non-GAAP measures. These disclosures should not be considered an alternative to GAAP. Explanation of Certain Unaudited Non-GAAP Financial Measures

28THIRD QUARTER 2023 EARNINGS PRESENTATION Quarterly Trend (Amounts in thousands except per share data) 3Q'23 2Q'23 1Q'23 4Q'22 3Q'22 Net Income $ 31,414 $ 31,249 $ 11,827 $ 23,927 $ 29,237 Total noninterest income 17,793 21,576 22,445 17,651 16,103 Securities losses/(gains), net 387 176 (107) (18) 362 BOLI benefits on death (included in other income) — — (2,117) — — Total Adjustments to Noninterest Income 387 176 (2,224) (18) 362 Total Adjusted Noninterest Income 18,180 21,752 20,221 17,633 16,465 Total noninterest expense 93,915 107,865 107,475 91,510 61,359 Salaries and wages — (1,573) (4,240) (5,680) — Outsourced data processing costs — (10,904) (6,551) (2,582) — Legal and professional fees — (1,664) (4,789) (6,485) (1,791) Other categories — (1,507) (1,952) (1,393) (263) Total merger-related charges — (15,648) (17,532) (16,140) (2,054) Amortization of intangibles (7,457) (7,654) (6,727) (4,763) (1,446) Branch reductions and other expense initiatives (3,305) (571) (1,291) (176) (960) Total Adjustments to Noninterest Expense (10,762) (23,873) (25,550) (21,079) (4,460) Total Adjusted Noninterest Expense 83,153 83,992 81,925 70,431 56,899 Income Taxes 9,076 10,189 2,697 7,794 9,115 Tax effect of adjustments 2,826 6,095 5,912 5,062 1,222 Adjusted Income Taxes 11,902 16,284 8,609 12,856 10,337 Adjusted Net Income $ 39,737 $ 49,203 $ 29,241 $ 39,926 $ 32,837 Earnings per diluted share, as reported $ 0.37 $ 0.37 $ 0.15 $ 0.34 $ 0.47 Adjusted Earnings per Diluted Share 0.46 0.58 0.36 0.56 0.53 Average diluted shares outstanding 85,666 85,536 80,717 71,374 61,961 GAAP to Non-GAAP Reconciliation

29THIRD QUARTER 2023 EARNINGS PRESENTATION Quarterly Trend (Amounts in thousands except per share data) 3Q'23 2Q'23 1Q'23 4Q'22 3Q'22 Adjusted Noninterest Expense $ 83,153 $ 83,992 $ 81,925 $ 70,431 $ 56,899 Provision for unfunded commitments — — (1,239) — (1,015) Foreclosed property expense and net (loss) gain on sale (274) 57 (195) 411 (9) Net Adjusted Noninterest Expense $ 82,879 $ 84,049 $ 80,491 $ 70,842 $ 55,875 Revenue $ 137,099 $ 148,539 $ 153,597 $ 137,360 $ 104,387 Total Adjustments to Revenue 387 176 (2,224) (18) 362 Impact of FTE adjustment 199 190 199 149 115 Adjusted Revenue on a Fully Taxable Equivalent Basis $ 137,685 $ 148,905 $ 151,572 $ 137,491 $ 104,864 Adjusted Efficiency Ratio 60.19 % 56.44 % 53.10 % 51.52 % 53.28 % Net Interest Income $ 119,306 $ 126,963 $ 131,152 $ 119,709 $ 88,284 Impact of FTE adjustment 199 190 199 149 115 Net Interest Income Including FTE adjustment $ 119,505 $ 127,153 $ 131,351 $ 119,858 $ 88,399 Total noninterest income 17,793 21,576 22,445 17,651 16,103 Total noninterest expense 93,915 107,865 107,475 91,510 61,359 Pre-Tax Pre-Provision Earnings $ 43,383 $ 40,864 $ 46,321 $ 45,999 $ 43,143 Total Adjustments to Noninterest Income 387 176 (2,224) (18) 362 Total Adjustments to Noninterest Expense (11,036) (23,816) (26,984) (20,668) (5,484) Adjusted Pre-Tax Pre-Provision Earnings $ 54,806 $ 64,856 $ 71,081 $ 66,649 $ 48,989 Average Assets $ 14,906,003 $ 14,887,289 $ 13,947,976 $ 12,139,856 $ 10,585,338 Less average goodwill and intangible assets (839,787) (842,988) (750,694) (521,412) (305,935) Average Tangible Assets $ 14,066,216 $ 14,044,301 $ 13,197,282 $ 11,618,444 $ 10,279,403 GAAP to Non-GAAP Reconciliation

30THIRD QUARTER 2023 EARNINGS PRESENTATION Quarterly Trend (Amounts in thousands except per share data) 3Q'23 2Q'23 1Q'23 4Q'22 3Q'22 Return on Average Assets (ROA) 0.84 % 0.84 % 0.34 % 0.78 % 1.10 % Impact of removing average intangible assets and related amortization 0.20 0.22 0.18 0.16 0.07 Return on Average Tangible Assets (ROTA) 1.04 1.06 0.52 0.94 1.17 Impact of other adjustments for Adjusted Net Income 0.08 0.35 0.38 0.42 0.10 Adjusted Return on Average Tangible Assets 1.12 1.41 0.90 1.36 1.27 Pre-Tax Pre-Provision return on Average Tangible Assets 1.38 1.33 1.58 1.69 1.71 Impact of adjustments on Pre-Tax Pre-Provision earnings 0.17 0.52 0.60 0.59 0.18 Adjusted Pre-Tax Pre-Provision Return on Tangible Assets 1.55 1.85 2.18 2.28 1.89 Average Shareholders' Equity $ 2,072,747 $ 2,070,529 $ 1,897,045 $ 1,573,704 $ 1,349,475 Less average goodwill and intangible assets (839,787) (842,988) (750,694) (521,412) (305,935) Average Tangible Equity $ 1,232,960 $ 1,227,541 $ 1,146,351 $ 1,052,292 $ 1,043,540 Return on Average Shareholders' Equity 6.01 % 6.05 % 2.53 % 6.03 % 8.60 % Impact of removing average intangible assets and related amortization 5.89 6.03 3.43 4.33 2.93 Return on Average Tangible Common Equity (ROTCE) 11.90 12.08 5.96 10.36 11.53 Impact of other adjustments for Adjusted Net Income 0.89 4.00 4.38 4.69 0.95 Adjusted Return on Average Tangible Common Equity 12.79 16.08 10.34 15.05 12.48 Loan Interest Income1 $ 150,048 $ 148,432 $ 135,341 $ 105,437 $ 74,050 Accretion on acquired loans (14,843) (14,580) (15,942) (9,710) (2,242) Loan interest income excluding accretion on acquired loans $ 135,205 $ 133,852 $ 119,399 $ 95,727 $ 71,808 1On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost. GAAP to Non-GAAP Reconciliation

31THIRD QUARTER 2023 EARNINGS PRESENTATION Quarterly Trend (Amounts in thousands except per share data) 3Q'23 2Q'23 1Q'23 4Q'22 3Q'22 Yield on Loans1 5.93 % 5.89 % 5.86 % 5.29 % 4.45 % Impact of accretion on acquired loans (0.59) (0.58) (0.69) (0.49) (0.14) Yield on loans excluding accretion on acquired loans 5.34 % 5.31 % 5.17 % 4.80 % 4.31 % Net Interest income1 $ 119,505 $ 127,153 $ 131,351 $ 119,858 $ 88,399 Accretion on acquired loans (14,843) (14,580) (15,942) (9,710) (2,242) Net interest income excluding accretion on acquired loans $ 104,662 $ 112,573 $ 115,409 $ 110,148 $ 86,157 Net Interest Margin1 3.57 % 3.86 % 4.31 % 4.36 % 3.67 % Impact of accretion on acquired loans (0.44) (0.44) (0.53) (0.35) (0.09) Net interest margin excluding accretion on acquired loans 3.13 % 3.42 % 3.78 % 4.01 % 3.58 % Security Interest Income1 $ 21,520 $ 21,018 $ 19,375 $ 18,694 $ 15,827 Tax equivalent adjustment on securities (22) (23) (26) (34) (35) Security interest income excluding tax equivalent adjustment $ 21,498 $ 20,995 $ 19,349 $ 18,660 $ 15,792 Loan Interest Income1 $ 150,048 $ 148,432 $ 135,341 $ 105,437 $ 74,050 Tax equivalent adjustment on loans (177) (167) (173) (115) (80) Loan interest income excluding tax equivalent adjustment $ 149,871 $ 148,265 $ 135,168 $ 105,322 $ 73,970 Net Interest Income1 $ 119,505 $ 127,153 $ 131,351 $ 119,858 $ 88,399 Tax equivalent adjustment on securities (22) (23) (26) (34) (35) Tax equivalent adjustment on loans (177) (167) (173) (115) (80) Net interest income excluding tax equivalent adjustment $ 119,306 $ 126,963 $ 131,152 $ 119,709 $ 88,284 1On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost. GAAP to Non-GAAP Reconciliation

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Cover Page	Oct. 26, 2023
Cover [Abstract]
Document Type	8-K
Document Period End Date	Oct. 26, 2023
Entity Registrant Name	SEACOAST BANKING CORPORATION OF FLORIDA
Entity Incorporation, State or Country Code	FL
Entity File Number	000-13660
Entity Tax Identification Number	59-2260678
Entity Address, Address Line One	815 COLORADO AVENUE,
Entity Address, City or Town	STUART
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	34994
City Area Code	772
Local Phone Number	287-4000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, $0.10 par value
Trading Symbol	SBCF
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Entity Central Index Key	0000730708
Amendment Flag	false