Business Combinations (Tables)

9 Months Ended

Sep. 30, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Business Acquisitions

(In thousands, except per share data)	July 11, 2025
Number of Heartland shares receiving stock	378
Per share exchange ratio for Heartland shares receiving stock	4.9263
Number of shares of SBCF common stock issued	1,862
Multiplied by SBCF price per share at July 11, 2025	$	29.29
Value of SBCF common stock issued	$	54,547
Number of Heartland shares receiving cash	378
Per share cash consideration for Heartland shares receiving cash	$	147.10
Cash consideration paid to Heartland shareholders, including cash paid for fractional shares	$	55,623
Cash paid to Heartland option holders	1,054
Total purchase price	$	111,224

(In thousands, except per share data)	October 1, 2025
Number of VBI shares receiving stock	550
Per share exchange ratio for VBI shares receiving stock	38.5000
Number of shares of SBCF common stock issued	9,923
Number of shares of SBCF preferred stock issued1	11
Multiplied by SBCF price per share at October 1, 2025	$	30.50
Total Value of SBCF common and preferred stock issued	$	645,785
Number of VBI shares receiving cash	183
Per share exchange ratio for VBI shares receiving cash	$	1,000.00
Cash consideration paid to VBI shareholders, including cash paid for fractional shares	$	183,360
Total purchase price	$	829,145
1Preferred stock is 1/1000th share for every share of common stock

Schedule of Fair Value of Assets Acquired and Liabilities Assumed

The table below presents the provisional allocation of the purchase consideration.

(In thousands)	July 11, 2025
Assets:
Cash and cash equivalents	$	242,672
Investment securities	357,905
Loans	153,294
Bank premises and equipment	7,926
Core deposit intangibles	20,922
Goodwill	22,228
Other Assets	18,590
Total Assets	$	823,537
Liabilities:
Deposits	$	705,195
Other Liabilities	7,118
Total Liabilities	$	712,313

Schedule of Fair Value of Acquired Loans and Unpaid Principal Balance

The table below presents information with respect to the fair value and unpaid principal balance of acquired loans at the acquisition date.

	July 11, 2025
(In thousands)	Book Balance		Fair Value
Loans:
Construction and land development	$	7,575	$	7,496
CRE - owner occupied	31,504		30,790
CRE - non-owner occupied	40,239		38,992
Residential real estate	52,960		51,434
Commercial and financial	21,104		21,029
Consumer	3,614		3,553
Total acquired loans	$	156,996	$	153,294