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Pay vs Performance Disclosure
12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
  



Year
Summary Compensation Table Total for PEO (1)
($)

Compensation Actually Paid to PEO (2) (3)
($)
Average Summary Compensation Table Total for Non-PEO NEOs (1)
($)
Average Compensation Actually Paid to Non-PEO NEOs (2) (3)
($)
Value of Initial Fixed $100 Investment Based on:
Net Income (5)
(In Millions)
($)
Adjusted EPS
Growth (6)
(%)
Adjusted ROATE (6)
(%)
Total Shareholder Return
($)
Peer Group Total Shareholder Return (4)
($)
ShafferHudsonShafferHudson
20243,860,4174,700,1521,433,0551,785,21891.72137.17120.97(15.07)11.25
20233,091,7722,962,5911,236,7821,243,24798.73128.99104.03(13.42)12.80
20222,824,5762,295,8711,200,8531,090,130105.27120.74106.51(10.17)12.86
20212,771,4412,934,0321,089,5111,305,908117.04127.96124.4043.0413.97
20202,033,7032,235,460953,6901,022,27996.3490.6277.76(17.92)10.93
       
Named Executive Officers, Footnote Charles M. Shaffer served as our CEO from 2021-2024. Dennis S. Hudson, III served as CEO for 2020. The other NEOs for each year reported are as follows:
    2022-2024 – Tracey L. Dexter, Joseph M. Forlenza, Juliette P. Kleffel and Austen D. Carroll
    2021 – Dennis S. Hudson, III, Tracey L. Dexter, Joseph M. Forlenza and Juliette P. Kleffel
    2020 – Charles M. Shaffer, Tracey L. Dexter, Joseph M. Forlenza, and Juliette P. Kleffel
       
Peer Group Issuers, Footnote The peer group TSR is based on the S&P U.S. BMI Banks Southeast Region Index.        
Adjustment To PEO Compensation, Footnote SEC rules require certain adjustments be made to the “Summary Compensation Table” totals to determine “compensation actually paid” as reported in the “Pay versus Performance table” above. For purposes of the pension valuation adjustments shown below, there was no pension service or prior service cost. In addition, for purposes of the equity award adjustments shown below, no equity awards were cancelled due to a failure to meet vesting conditions. The following table details the applicable adjustments that were made to determine “compensation actually paid” (all amounts shown for Non-PEO NEOs are averages for the named executive officers other than the CEO):
PEONon-PEO NEOs
2024202320222021202020242023202220212020
Summary Compensation Table Total Compensation3,860,4173,091,7722,824,5762,771,4412,033,7031,433,0551,236,7821,200,8531,089,511953,690
Deduct Grant Date Fair Value of Stock Awards Granted in Fiscal Year(1,499,961)(1,200,002)(719,972)(1,449,990)(799,993)(474,972)(462,486)(362,493)(387,468)(257,477)
Add Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year2,599,9331,445,284653,9301,405,1251,322,099868,255557,019329,242375,479425,516
Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Years(59,614)(111,572)(193,746)165,821(68,704)(24,899)(42,046)(55,235)159,289(20,035)
Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years for which Applicable Vesting Conditions were Satisfied During Fiscal Year
(68,048)(128,742)(61,412)75,392(251,645)(16,222)(46,023)(22,236)69,097(79,415)
Deduct Change in Pension Value(132,575)(134,149)(207,504)(33,757)
Compensation Actually Paid4,700,1522,962,5912,295,8712,934,0322,235,4601,785,2181,243,2471,090,1301,305,9081,022,279
       
Non-PEO NEO Average Total Compensation Amount $ 1,433,055 $ 1,236,782 $ 1,200,853 $ 1,089,511 $ 953,690
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,785,218 1,243,247 1,090,130 1,305,908 1,022,279
Adjustment to Non-PEO NEO Compensation Footnote SEC rules require certain adjustments be made to the “Summary Compensation Table” totals to determine “compensation actually paid” as reported in the “Pay versus Performance table” above. For purposes of the pension valuation adjustments shown below, there was no pension service or prior service cost. In addition, for purposes of the equity award adjustments shown below, no equity awards were cancelled due to a failure to meet vesting conditions. The following table details the applicable adjustments that were made to determine “compensation actually paid” (all amounts shown for Non-PEO NEOs are averages for the named executive officers other than the CEO):
PEONon-PEO NEOs
2024202320222021202020242023202220212020
Summary Compensation Table Total Compensation3,860,4173,091,7722,824,5762,771,4412,033,7031,433,0551,236,7821,200,8531,089,511953,690
Deduct Grant Date Fair Value of Stock Awards Granted in Fiscal Year(1,499,961)(1,200,002)(719,972)(1,449,990)(799,993)(474,972)(462,486)(362,493)(387,468)(257,477)
Add Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year2,599,9331,445,284653,9301,405,1251,322,099868,255557,019329,242375,479425,516
Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Years(59,614)(111,572)(193,746)165,821(68,704)(24,899)(42,046)(55,235)159,289(20,035)
Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years for which Applicable Vesting Conditions were Satisfied During Fiscal Year
(68,048)(128,742)(61,412)75,392(251,645)(16,222)(46,023)(22,236)69,097(79,415)
Deduct Change in Pension Value(132,575)(134,149)(207,504)(33,757)
Compensation Actually Paid4,700,1522,962,5912,295,8712,934,0322,235,4601,785,2181,243,2471,090,1301,305,9081,022,279
       
Compensation Actually Paid vs. Total Shareholder Return
The following graphs illustrate the comparison from 2020-2024 between:
Our PEO’s CAP and the average non-PEO NEO’s CAP amounts and Seacoast’s TSR and the Peer Group’s TSR;
Our PEO’s CAP and the average non-PEO NEO’s CAP amounts and our Net Income;
Our PEO’s CAP and the average non-PEO NEO’s CAP amounts and our Adjusted EPS Growth; and
Our PEO’s CAP and the average non-PEO NEO’s CAP amounts and our Adjusted ROATE
Changes in CAP from year to year are impacted by numerous factors, including stock price volatility, outstanding award vesting, job performance, increase in duties and responsibilities of our PEO and non-PEO NEOs and the amount of progress made towards company goals.
CAP-Left_1.jpg38604CAP-TSR-Right.jpg
       
Compensation Actually Paid vs. Net Income
The following graphs illustrate the comparison from 2020-2024 between:
Our PEO’s CAP and the average non-PEO NEO’s CAP amounts and Seacoast’s TSR and the Peer Group’s TSR;
Our PEO’s CAP and the average non-PEO NEO’s CAP amounts and our Net Income;
Our PEO’s CAP and the average non-PEO NEO’s CAP amounts and our Adjusted EPS Growth; and
Our PEO’s CAP and the average non-PEO NEO’s CAP amounts and our Adjusted ROATE
Changes in CAP from year to year are impacted by numerous factors, including stock price volatility, outstanding award vesting, job performance, increase in duties and responsibilities of our PEO and non-PEO NEOs and the amount of progress made towards company goals.
CAP-Left_1.jpg38608CAP-NetIncome.jpg
Non-GAAP measure; for more information and reconciliation to GAAP, refer to Appendix A – Information Regarding Non-GAAP Financial Measures.
       
Total Shareholder Return Vs Peer Group
The following graphs illustrate the comparison from 2020-2024 between:
Our PEO’s CAP and the average non-PEO NEO’s CAP amounts and Seacoast’s TSR and the Peer Group’s TSR;
Our PEO’s CAP and the average non-PEO NEO’s CAP amounts and our Net Income;
Our PEO’s CAP and the average non-PEO NEO’s CAP amounts and our Adjusted EPS Growth; and
Our PEO’s CAP and the average non-PEO NEO’s CAP amounts and our Adjusted ROATE
Changes in CAP from year to year are impacted by numerous factors, including stock price volatility, outstanding award vesting, job performance, increase in duties and responsibilities of our PEO and non-PEO NEOs and the amount of progress made towards company goals.
CAP-Left_1.jpg38604CAP-TSR-Right.jpg
       
Tabular List, Table
Adjusted Net Income;
Adjusted EPS Growth; and
Adjusted ROATE
       
Total Shareholder Return Amount $ 91.72 98.73 105.27 117.04 96.34
Peer Group Total Shareholder Return Amount 137.17 128.99 120.74 127.96 90.62
Net Income (Loss) $ 120,970,000 $ 104,030,000.00 $ 106,510,000 $ 124,400,000 $ 77,760,000
PEO Name Charles M. Shaffer Charles M. Shaffer Charles M. Shaffer Charles M. Shaffer Dennis S. Hudson
Additional 402(v) Disclosure Fair value or change in fair value, as applicable, of equity awards in the “Compensation Actually Paid” columns was determined by reference to (1) for stock options, the fair value calculated using the Black-Scholes option pricing model as of the applicable year-end or vesting date(s), determined based on the same methodology as used to determine grant date fair values but using the closing stock price on the applicable revaluation date as the current market price and the volatility, dividend rates and risk free interest rates determined as of the revaluation date, (2) for RSA awards, the closing price on applicable year-end dates or, in the case of vesting dates, the actual vesting price, and (3) for PSU awards, the same valuation methodology as RSA awards above except year-end and vesting date values are multiplied by the probability of achievement as of each such date. The estimated probability of achievement of the 2019 PSUs was 100% at fiscal year-end (“FYE”) 2019 and FYE 2020, 125% at FYE 2021 and 111% at vesting in 2022. The estimated probability of achievement of the 2020 PSUs was 100% at FYE 2020, FYE 2021, FYE 2022 and 96% at vesting in 2023. The estimated probability of achievement of the 2021 PSUs was 100% at FYE 2021 and FYE 2022, 125% at FYE 2023 and 102% at at vesting in 2024. The estimated probability of achievement of the 2022 PSUs was 100% at FYE 2022, FYE 2023 and FYE 2024. The estimated probability of achievement of the 2023 PSUs was 100% at FYE 2023 and 75% at FYE 2024. The estimated probability of achievement of the 2024 PSUs was 100% at FYE 2024.As reported in the Company’s consolidated financial statements in our 2024 Annual Report on Form 10-K.        
Measure:: 1          
Pay vs Performance Disclosure          
Name Adjusted Net Income        
Measure:: 2          
Pay vs Performance Disclosure          
Compensation Actually Paid vs. Other Measure
The following graphs illustrate the comparison from 2020-2024 between:
Our PEO’s CAP and the average non-PEO NEO’s CAP amounts and Seacoast’s TSR and the Peer Group’s TSR;
Our PEO’s CAP and the average non-PEO NEO’s CAP amounts and our Net Income;
Our PEO’s CAP and the average non-PEO NEO’s CAP amounts and our Adjusted EPS Growth; and
Our PEO’s CAP and the average non-PEO NEO’s CAP amounts and our Adjusted ROATE
Changes in CAP from year to year are impacted by numerous factors, including stock price volatility, outstanding award vesting, job performance, increase in duties and responsibilities of our PEO and non-PEO NEOs and the amount of progress made towards company goals.
CAP-Left_1.jpg38765CAP-EPSGrowth-RIGHT.jpg
       
Other Performance Measure, Amount (0.1507) (0.1342) (0.1017) 0.4304 (0.1792)
Name Adjusted EPS Growth        
Non-GAAP Measure Description Non-GAAP measure, for more information and reconciliation to GAAP, refer to Appendix A – Information Regarding Non-GAAP Financial Measures.        
Measure:: 3          
Pay vs Performance Disclosure          
Compensation Actually Paid vs. Other Measure
The following graphs illustrate the comparison from 2020-2024 between:
Our PEO’s CAP and the average non-PEO NEO’s CAP amounts and Seacoast’s TSR and the Peer Group’s TSR;
Our PEO’s CAP and the average non-PEO NEO’s CAP amounts and our Net Income;
Our PEO’s CAP and the average non-PEO NEO’s CAP amounts and our Adjusted EPS Growth; and
Our PEO’s CAP and the average non-PEO NEO’s CAP amounts and our Adjusted ROATE
Changes in CAP from year to year are impacted by numerous factors, including stock price volatility, outstanding award vesting, job performance, increase in duties and responsibilities of our PEO and non-PEO NEOs and the amount of progress made towards company goals.
CAP-Left_1.jpg38772CAP-ROTCE-RIGHT.jpg
       
Other Performance Measure, Amount 0.1125 0.1280 0.1286 0.1397 0.1093
Name Adjusted ROATE        
Non-GAAP Measure Description Non-GAAP measure, for more information and reconciliation to GAAP, refer to Appendix A – Information Regarding Non-GAAP Financial Measures.        
Shaffer [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount $ 3,860,417 $ 3,091,772 $ 2,824,576 $ 2,771,441  
PEO Actually Paid Compensation Amount 4,700,152 2,962,591 2,295,871 2,934,032  
Hudson [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount         $ 2,033,703
PEO Actually Paid Compensation Amount         2,235,460
PEO | Shaffer [Member] | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (132,575) (134,149) (207,504) (33,757)  
PEO | Shaffer [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,499,961) (1,200,002) (719,972) (1,449,990)  
PEO | Shaffer [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,599,933 1,445,284 653,930 1,405,125  
PEO | Shaffer [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (59,614) (111,572) (193,746) 165,821  
PEO | Shaffer [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (68,048) (128,742) (61,412) 75,392  
PEO | Hudson [Member] | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         0
PEO | Hudson [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         (799,993)
PEO | Hudson [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         1,322,099
PEO | Hudson [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         (68,704)
PEO | Hudson [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         (251,645)
Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (474,972) (462,486) (362,493) (387,468) (257,477)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 868,255 557,019 329,242 375,479 425,516
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (24,899) (42,046) (55,235) 159,289 (20,035)
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (16,222) $ (46,023) $ (22,236) $ 69,097 $ (79,415)