XML 84 R25.htm IDEA: XBRL DOCUMENT v3.24.0.1
Seacoast Banking Corporation of Florida (Parent Company Only) Financial Information
12 Months Ended
Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]  
Seacoast Banking Corporation of Florida (Parent Company Only) Financial Information Seacoast Banking Corporation of Florida (Parent Company Only) Financial Information
Balance Sheets
 December 31,
(In thousands)20232022
Assets  
Cash$466 $58 
Securities purchased under agreement to resell with subsidiary bank, maturing within 30 days101,191 111,698 
Investment in subsidiaries2,109,341 1,578,786 
Other assets
4,837 2,335 
 $2,215,835 $1,692,877 
Liabilities and Shareholders' Equity
Long-term debt$106,302 $84,533 
Other liabilities1,551 673 
Shareholders' equity2,107,982 1,607,671 
 $2,215,835 $1,692,877 
Statements of Income
 Year Ended December 31,
(In thousands)202320222021
Income   
Interest/other$3,573 $897 $167 
Dividends from subsidiary Bank40,655 48,424 47,684 
Total income44,228 49,321 47,851 
Interest expense7,408 3,090 1,683 
Other expenses996 1,023 765 
Total expenses8,404 4,113 2,448 
Income before income taxes and equity in undistributed income of subsidiaries35,824 45,208 45,403 
Income tax benefit(1,015)(675)(481)
Income before equity in undistributed income of subsidiaries36,839 45,883 45,884 
Equity in undistributed income of subsidiaries67,194 60,624 78,519 
Net income$104,033 $106,507 $124,403 
Statements of Cash Flows
 Year Ended December 31,
(In thousands)202320222021
Cash flows from operating activities   
Adjustments to reconcile net income to net cash provided
by operating activities:
   
Net Income$104,033 $106,507 $124,403 
Equity in undistributed income of subsidiaries(67,194)(60,624)(78,519)
Net increase in other assets
(3,029)(13,823)(489)
Net increase in other liabilities22,646 499 400 
Net cash provided by operating activities56,456 32,559 45,795 
Cash flows from investing activities
Net cash from bank acquisitions10,237 17,610 — 
Net advances with subsidiary270 (13,300)(28,324)
Net cash provided by (used in) investment activities10,507 4,310 (28,324)
Cash flows from financing activities
Dividends paid(60,591)(41,242)(22,506)
Stock based employment benefit plans4,904 4,374 5,022 
Repurchase of common stock(10,868)— — 
Net cash used in financing activities(66,555)(36,868)(17,484)
Net change in cash408 (13)
Cash at beginning of year58 57 70 
Cash at end of year$466 $58 $57 
Supplemental disclosure of cash flow information:
Cash paid during the period for interest$5,315 $2,890 $1,441