Shareholders' Equity

12 Months Ended

Dec. 31, 2019

Required Regulatory Capital

The Company is subject to various regulatory capital requirements administered by the Federal banking agencies. Failure to meet the minimum capital requirements can initiate certain mandatory and possible additional discretionary actions by the regulators, which could have a direct material impact on the financial statements. These requirements involve quantitative measures of assets, liabilities and certain off-balance sheet items calculated pursuant to regulatory guidance. The Company's capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.

Quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios of total, Tier 1 capital and common equity Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined) and of Tier 1 capital to average assets (as defined).

At December 31, 2019 and 2018, the Company and Seacoast Bank, its wholly-owned banking subsidiary, were both considered "well capitalized" based on the applicable U.S. regulatory capital ratio requirements as reflected in the table below:



					Minimum to meet "Well Capitalized" Requirements					Minimum for Capital Adequacy Purpose¹
(Dollars in thousands)	Amount		Ratio		Amount			Ratio		Amount			Ratio
Seacoast Banking Corporation of Florida
(Consolidated)

At December 31, 2019:
Total Risk-Based Capital Ratio (to risk-weighted assets)	$	860,934	15.71	%	n/a			n/a		$	438,506	≥	8.00	%
Tier 1 Capital Ratio (to risk-weighted assets)	825,640		15.06		n/a			n/a		328,880		≥	6.00
Common Equity Tier 1 Capital Ratio (to risk-weighted assets)	754,555		13.77		n/a			n/a		246,660		≥	4.50
Leverage Ratio (to adjusted average assets)	825,640		12.20		n/a			n/a		270,788		≥	4.00
At December 31, 2018:
Total Risk-Based Capital Ratio (to risk-weighted assets)	$	744,687	14.43	%	n/a			n/a		$	412,754	≥	8.00	%
Tier 1 Capital Ratio (to risk-weighted assets)	712,144		13.80		n/a			n/a		309,566		≥	6.00
Common Equity Tier 1 Capital Ratio (to risk-weighted assets)	641,340		12.43		n/a			n/a		232,174		≥	4.50
Leverage Ratio (to adjusted average assets)	712,144		11.16		n/a			n/a		255,167		≥	4.00

Seacoast National Bank
(A Wholly Owned Bank Subsidiary)
At December 31, 2019:
Total Risk-Based Capital Ratio (to risk-weighted assets)	$	804,058	14.68	%	$	547,440	≥	10.00	%	$	437,952	≥	8.00	%
Tier 1 Capital Ratio (to risk-weighted assets)	768,764		14.04		437,952		≥	8.00		328,464		≥	6.00
Common Equity Tier 1 Capital Ratio (to risk-weighted assets)	768,764		14.04		355,836		≥	6.50		246,348		≥	4.50
Leverage Ratio (to adjusted average assets)	768,764		11.38		337,787		≥	5.00		270,230		≥	4.00
At December 31, 2018:
Total Risk-Based Capital Ratio (to risk-weighted assets)	$	701,093	13.60	%	$	515,607	≥	10.00	%	$	412,486	≥	8.00	%
Tier 1 Capital Ratio (to risk-weighted assets)	668,550		12.97		412,486		≥	8.00		309,364		≥	6.00
Common Equity Tier 1 Capital Ratio (to risk-weighted assets)	668,550		12.97		335,145		≥	6.50		232,023		≥	4.50
Leverage Ratio (to adjusted average assets)	668,550		10.49		318,795		≥	5.00		255,036		≥	4.00
¹Excludes the Basel III capital conservation buffer of 2.5% for 2019 and 1.875% for 2018, which if not exceeded may constrain dividends, equity repurchases and compensation.
n/a - not applicable

The Company has reserved 300,000 common shares for issuance in connection with an employee stock purchase plan and 1,000,000 common shares for issuance in connection with an employee profit sharing plan.

Holders of common stock are entitled to one vote per share on all matters presented to shareholders as provided in the Company’s Articles of Incorporation. The Company implemented a dividend reinvestment plan during 2007, issuing no shares from treasury stock under this plan during 2019 or 2018.