EXHIBIT 99.1

To 8-K dated July 30, 2007

NEWS RELEASE

SEACOAST BANKING CORPORATION OF FLORIDA

Dennis S. Hudson, III

Chairman and Chief Executive Officer

Seacoast Banking Corporation of Florida

(772) 288-6086

William R. Hahl

Executive Vice President/

Chief Financial Officer

 (772) 221-2825

SEACOAST REPORTS SECOND QUARTER RESULTS

STUART, FL., July 25, 2007 – Seacoast Banking Corporation of Florida (NASDAQ-NMS:  SBCF), a bank holding company whose principal subsidiary is Seacoast National Bank, today announced 2007 second quarter net income of $4.81 million or $0.25 diluted earnings per share (“DEPS”) compared to $6.43 million or $0.34 DEPS for the second quarter of 2006.  

For the first six months, net income totaled $7.58 million or $0.39 DEPS, compared to $12.30 million and $0.68 DEPS earned in 2006.  Core operating earnings, excluding investment securities gains and losses, totaled $10.87 million for the first half of 2007 or $0.57 DEPS, compared to $12.30 million or $0.68 DEPS for the same period in 2006.  

“The reduced core earnings growth for the second quarter is attributable to an increase in the provision for loan losses and higher overhead as a result of our investment in people and processes which will allow for continued strong loan and deposit growth.  The Company has also experienced slowing revenue growth due to an unfavorable yield curve and the continued drag resulting from the unwinding of the residential real estate bubble.  We believe that during this time of economic adjustment, it is best to stick with successful strategies which assure future earnings growth over many years,” said Dennis S. Hudson, III, Chairman and Chief Executive Officer.  

“Our long-term perspective shows an increase in franchise value from growth in households serviced, enhancement of products and services offered, expansion in attractive markets and continued solid asset quality.  As a result of our expansion activities and opportunities created by acquisition disruptions in our core markets, revenue producing personnel were added during the second quarter.  While we can expect to continue to feel the effects of slowing economic conditions in South Florida over the remainder of this year, the activities we are undertaking to further develop our franchise are expected to produce meaningful improvements in earnings in 2008 and beyond.”  

Other significant items during the first half of 2007 included:

•

A team of bankers in Broward County Florida was added and they have already garnered $3 million in deposits, closed $11 million in commercial lines and added $90 million to the Company’s loan pipelines;

•

Three commercial lenders joined the Treasure Coast market team.  Two of the lenders were formerly with the largest community bank competitor that was recently acquired by National City.  They have built their loan pipelines and should have funded loan balances in the second half of 2007;

•

Total noninterest income excluding securities transactions grew by 9.4 percent over the first six months of 2007 compared to the same period in 2006;

•

Mortgage banking revenues increased $331,000 in the first half of 2007 compared to the first six months of 2006, but with higher mortgage interest rates, production for the second half of 2007 may slow;

•

The Company engaged a nationally recognized bank consulting firm to assist the board and management with strategic planning and overhead ratio improvement through revenue generation;

•

Second quarter average interest bearing deposits increased 8.3 percent annualized; however, negative changes in mix resulted as higher cost money market and time deposits grew at a higher rate;

•

Loan growth increased during the second quarter as anticipated.  Total loans at June 30, 2007 were up $80 million or 9.2 percent annualized for the first six months.  Commercial loan production for the second quarter totaled $151 million, compared to $76 million in the first quarter and $106 million for the second quarter of 2006.  With the added lending capabilities, management expects loan growth to be at the high end of the Company’s projected 8-10 percent range for the full twelve months; and

•

Net interest income (fully tax equivalent) totaled $21.5 million for the second quarter, up slightly from the first quarter on a $93 million smaller average earning asset base of $2.1 billion.  As predicted, the net interest margin improved to 4.09 percent for the second quarter as a result of the investment portfolio restructuring announced in the first quarter 2007.  

Nonperforming assets increased $14.9 million from a year ago and $3 million from year-end to $15.5 million or 0.85 percent of loans and other real estate owned outstanding at June 30, 2007.  The increase this quarter consisted of several loans secured with real estate.  As indicated last quarter, nonperforming loan balances will experience variability over the next few quarters. Net charge-offs remained low at $143,000 for the second quarter, compared to $125,000 for the first quarter 2007.  For the first six months, annualized net charge-offs as a percent of average loans totaled 0.03 percent compared to recoveries of (0.02) percent a year earlier.  The allowance for loan losses as a percentage of loans totaled 0.84 percent at June 30, 2007, compared to 0.76 percent one year earlier.

The provision for loan losses totaled $1.1 million, primarily as a result of the increased loan growth as noted above, as well as increased risk related to current market conditions.

Fully taxable net interest income for the second quarter 2007 was impacted by a smaller balance sheet as total deposit growth slowed as a result of normal seasonal trends and lower average balances for commercial customers that reduced noninterest bearing balances.  In addition, the increase in nonaccrual loans reduced the yield on average loans by approximately 8 basis points, while the cost of interest bearing deposits was up 19 basis points to 3.59 percent due to growth in higher cost deposit products.  As a result of the investment portfolio restructuring last quarter, the yield on average earning assets increased 18 basis points and the cost of total interest bearing liabilities increased by 5 basis points. This resulted in net interest margin increasing by 17 basis points to 4.09 percent from the first quarter 2007.   However, with the smaller balance sheet, net interest income increased only $36,000 compared to the first quarter when average earning assets were $93 million higher.  While net interest income is expected to grow during the remainder of the year due to loan growth, it is likely that the spread earned on the additional volumes will be lower than the second quarter’s net interest margin given a continued inverted yield curve.

During the second quarter, investments for the future were made by expanding into Ft. Lauderdale/Broward County, Florida, with the acquisition of a team of bankers from a successful nonpublic depository institution.  This overhead added a total of approximately $260,000 in expenses in the second quarter.  Other lending personnel additions increased salaries and wages by approximately $100,000 in the second quarter.  The added overhead caused the Company’s overhead ratio to increase to 69.5 percent in the second quarter and is expected to remain at this level for the remainder of 2007.  The added capabilities will allow us to produce more revenues and continue our growth and, if successful, will move the overhead ratio lower in 2008 as a result of greater revenue growth.  A similar strategy was utilized when the Company entered the Palm Beach County market in late 2002.  The group of bankers deployed was successful in building a franchise in that market consisting of $370 million in loans at June 30, 2007 and funding totaling $92 million.

During the current quarter, fees related to marine loan production increased $130,000 or 18 percent compared to the first quarter for 2007, and added $856,000 to second quarter 2007 revenues.  Brokerage commissions and fees totaled $989,000 for the second quarter, an improvement over the 2007 first quarter results of $754,000.  Trust revenues increased to $663,000 for the second quarter, but were lower compared to the prior year’s results of $801,000, and stand at $1,290,000 at June 30, 2007, compared to $1,513,000 for the first six months of 2006.  Trust income in 2006 included fees related to estate management services for which there were no comparable fees so far in 2007.

Seacoast will host a conference call on Thursday, July 26 at 10:00 a.m. (Eastern Time) to discuss the earnings results and business trends.  Investors may call in (toll-free) by dialing (800) 640-9765 (access code: 18327742; leader: Dennis S. Hudson).  Charts will be used during the conference call and may be accessed at Seacoast’s website at www.seacoastbanking.net by selecting Presentations under the heading Investor Services.  A replay of the call will be available beginning the afternoon of July 26 by dialing (877) 213-9653 (domestic), using the passcode 18327742.

Seacoast, with approximately $2.3 billion in assets, is one of the largest independent commercial banking organizations in Florida.  Seacoast has 43 offices in South and Central Florida and is headquartered on Florida’s Treasure Coast, which is one of the wealthiest and fastest growing areas in the nation.

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Cautionary Notice Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements about future financial and operating results, cost savings, enhanced revenues, economic and seasonal conditions in our markets, and improvements to reported earnings that may be realized from cost controls and for integration of banks that we have acquired, as well as statements with respect to Seacoast’s objectives, 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 our beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance or achievements of Seacoast to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. You should not expect us to update any forward-looking statements.  

You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “support”, “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “further”, “point to,” “project,” “could,” “intend” 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 effects of future economic and market conditions, including seasonality; governmental monetary and fiscal policies, as well as legislative and regulatory changes; the risks of changes in interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, securities, and interest sensitive assets and liabilities; interest rate risks, sensitivities and the shape of the yield curve; the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions operating in our 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; and the failure of assumptions underlying the establishment of reserves for possible loan losses.  The risks of mergers and acquisitions, include, without limitation: unexpected transaction costs, including the costs of integrating operations; the risks that the businesses will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than expected; the potential failure to fully or timely realize expected revenues and revenue synergies, including as the result of revenues following the merger being lower than expected; the risk of deposit and customer attrition; any changes in deposit mix; unexpected operating and other costs, which may differ or change from expectations; the risks of customer and employee loss and business disruption, including, without limitation, as the result of difficulties in maintaining relationships with employees; increased competitive pressures and solicitations of customers by competitors; as well as the difficulties and risks inherent with entering new markets.

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 our annual report on Form 10-K for the year ended December 31, 2006 under “Special Cautionary Notice Regarding Forward-Looking Statements,” and otherwise in our SEC reports and filings.  Such reports are available upon request from Seacoast, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov.

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FINANCIAL HIGHLIGHTS	(Unaudited)
SEACOAST  BANKING  CORPORATION  OF  FLORIDA  AND  SUBSIDIARIES
	Three Months Ended				Six Months Ended
(Dollars in thousands,	June 30,				June 30,
except per share data)	2007		2006		2007		2006
Summary of Earnings
Net income	$      4,808	$	6,434	$	7,577	$	12,300
Net income, excluding securities        restructuring losses (5)	4,808		6,434		10,874		12,300
Net interest income  (1)	21,468		24,030		42,900		44,304
Performance Ratios
Return on average assets-GAAP earnings  (2), (3)	0.85	%	1.07	%	0.66	%	1.09	%
Return on average tangible assets (2), (3), (4), (5)	0.91		1.13		1.00		1.14
Return on average shareholders’ equity -
GAAP earnings (2), (3)	8.81		12.43		7.00		13.53
Return on average tangible shareholders’ equity (2), (3), (4), (5)	12.43		17.85		14.12		18.48
Net interest margin  (1), (2)	4.09		4.29		4.01		4.23
Per Share Data
Net income diluted-GAAP earnings	$       0.25	$	0.34	$	0.39	$	0.68
Net income basic-GAAP earnings	0.25		0.34		0.40		0.69
Net income diluted-excluding securities  restructuring losses (5)	0.25		0.34		0.57		0.68
Net income basic-excluding securities    restructuring losses (5)	0.25		0.34		0.57		0.69
Cash dividends declared	0.16		0.15		0.32		0.30

		June 30,					Increase/
		2007		2006			(Decrease)
Credit Analysis
Net charge-offs (recoveries) year-to-date	$	268	$		(156	)	n/m
Net charge-offs (recoveries) to average loans		0.03	%		(0.02	)%	n/m
Loan loss provision year-to-date	$	557	$		560		(0.5	)%
Allowance to loans at end of period		0.84	%		0.76	%	10.5
Nonperforming assets	$	15,495	$		588		2,535.2
Nonperforming assets to loans and other
real estate owned at end of period		0.85	%		0.04	%	2,025.0
Selected Financial Data
Total assets	$	2,260,173	$		2,415,242		(6.4	)
Securities – Trading (at fair value)		26,690			0		n/m
Securities – Available for sale (at fair value)		183,132			367,766		(50.2	)
Securities – Held for investment (at amortized cost)		33,863			141,734		(76.1	)
Net loans		1,797,883			1,602,405		12.2
Deposits		1,867,191			2,028,605		(8.0	)
Shareholders’ equity		217,071			202,843		7.0
Book value per share		11.32			10.70		5.8
Tangible book value per share		8.35			7.68		8.6
Average shareholders' equity
to average assets		9.38	%		8.09	%	15.9
Average Balances (Year-to-Date)
Total assets	$	2,328,427	$		2,267,127		2.7
Less: Intangible assets		57,268			45,996		24.5
Total average tangible assets	$	2,271,159	$		2,221,131		2.3
Total equity	$	218,430	$		183,306		19.2
Less: Intangible assets		57,268			45,996		24.5
Total average tangible equity	$	161,162	$		137,310		17.4

(1)

Calculated on a fully taxable equivalent basis.

(2)

These ratios are stated on an annualized basis and are not necessarily indicative of future periods.

(3)

The calculations of ROA and ROE do not include the mark-to-market unrealized gains (losses) because the unrealized gains (losses) on available for sale securities are not included in net income.

(4)

The Company believes that return on average assets and equity excluding the impacts of noncash amortization expense on intangible assets is a better measurement of the Company’s trend in earnings growth.

(5)

Excluding securities restructuring losses of $5,118 (or $3,297, net of taxes) recorded in the first quarter 2007.

n/m = not meaningful

CONDENSED CONSOLIDATED BALANCE SHEETS  (Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
		June 30,			December 31,			June 30,
(Dollars in thousands)			2007		2006				2006
Assets
Cash and due from banks	$		66,067	$		89,803	$		70,177
Federal funds sold and other investments			15,190			2,412			100,514
Total Cash and Cash Equivalents			81,257			92,215			170,691
Securities:
Trading (at fair value)			26,690			0			0
Available for sale (at fair value)			183,132			313,983			367,766
Held for investment (at amortized cost)			33,863			129,958			141,734
Total Securities			243,685			443,941			509,500
Loans available for sale			4,204			5,888			3,362
Loans, net of unearned income			1,813,087			1,733,111			1,614,646
Less: Allowance for loan losses			(15,204)			(14,915)			(12,241)
Net Loans			1,797,883			1,718,196			1,602,405
Bank premises and equipment, net			38,688			37,070			37,320
Other real estate owned			288			0			139
Goodwill and other intangible assets			57,019			57,299			57,149
Other assets			37,149			34,826			34,676
	$		2,260,173	$		2,389,435	$		2,415,242
Liabilities and Shareholders’ Equity
Liabilities
Deposits
Demand deposits (noninterest bearing)	$		352,702	$		391,805	$		488,535
Savings deposits			885,851			929,444			1,000,385
Other time deposits			345,047			325,251			312,209
Time certificates of $100,000 or more			283,591			244,518			227,476
Total Deposits			1,867,191			1,891,018			2,028,605
Federal funds purchased and securities sold under agreements to repurchase, maturing within 30 days			96,927			206,476			104,941
Borrowed funds			14,521			26,522			26,218
Subordinated debt			53,610			41,238			41,238
Other liabilities			10,853			11,756			11,397
			2,043,102			2,177,010			2,212,399
Shareholders' Equity
Preferred stock			0			0			0
Common stock			1,914			1,899			1,897
Additional paid in capital			90,748			88,380			86,997
Retained earnings			126,293			124,811			119,108
Treasury stock			(34)			(310)			(121)
			218,921			214,780			207,881
Accumulated other comprehensive loss, net			(1,850)			(2,355)			(5,038)
Total Shareholders’ Equity			217,071			212,425			202,843
	$		2,260,173	$		2,389,435	$		2,415,242
Common Share Outstanding			19,172,239			18,974,295			18,958,534

Note:  The balance sheet at December 31, 2006 has been derived from the audited financial statements at that date.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME  (Unaudited)

SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

				Three Months Ended				Six Months Ended
				June 30,				June 30,
(Dollars in thousands, except per share data)				2007		2006		2007		2006
Interest on securities:
Taxable	$			3,566	$	6,120	$	8,305	$	11,517
Nontaxable				93		94		186		109
Interest and fees on loans				32,930		28,976		65,480		51,987
Interest on federal funds sold and other investments				662		1,018		913		2,353
Total Interest Income				37,251		36,208		74,884		65,966
Interest on deposits				5,937		4,837		11,499		8,176
Interest on time certificates				7,511		5,206		14,279		9,298
Interest on borrowed money				2,399		2,203		6,334		4,281
Total Interest Expense				15,847		12,246		32,112		21,755
Net Interest Income				21,404		23,962		42,772		44,211
Provision for loan losses				1,107		280		557		560
Net Interest Income After Provision for Loan Losses			20,297			23,682		42,215		43,651
Noninterest income:
Service charges on deposit accounts				1,928		1,801		3,661		3,043
Trust income				663		801		1,290		1,513
Mortgage banking fees				416		331		871		540
Brokerage commissions and fees				989		1,042		1,743		1,818
Marine finance fees				856		868		1,582		1,661
Debit card income				597		558		1,165		1,021
Other deposit based EFT fees				116		102		247		199
Merchant income				721		619		1,477		1,298
Other income				430		397		896		730
				6,716		6,519		12,932		11,823
Securities restructuring losses				0		0		(5,118	)	0
Securities gains (losses), net				26		(97	)	24		(86)
Total Noninterest Income				6,742		6,422		7,838		11,737
Noninterest expenses:
Salaries and wages				8,453		8,443		16,349		14,862
Employee benefits				2,032		1,769		3,719		3,569
Outsourced data processing costs				1,956		2,180		3,901		3,929
Occupancy				1,919		2,062		3,793		3,595
Furniture and equipment				699		591		1,351		1,127
Marketing				793		926		1,493		1,843
Legal and professional fees				843		699		1,675		1,236
FDIC assessments				56		79		114		138
Amortization of intangibles				314		321		629		440
Other				2,836		2,806		5,580		5,246
Total Noninterest Expenses				19,901		19,876		38,604		35,985
Income Before Income Taxes				7,138		10,228		11,449		19,403
Provision for income taxes				2,330		3,794		3,872		7,103
Net Income		$		4,808	$	6,434	$	7,577	$	12,300
Per share common stock:
Net income diluted		$		0.25	$	0.34	$	0.39	$	0.68
Net income basic				0.25		0.34		0.40		0.69
Cash dividends declared				0.16		0.15		0.32		0.30
Average diluted shares outstanding				19,221,438		19,103,077		19,188,343		18,200,400
Average basic shares outstanding				18,955,848		18,727,475		18,957,989		17,825,416

CONSOLIDATED QUARTERLY FINANCIAL DATA   (Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
				Quarters
				2007								2006						Last 12
(Dollars in thousands, except per share data)				Second			First					Fourth		Third				Months
Net income			$	4,808	$		2,769	$			5,685		$		5,869	$		19,131
Net income, excluding securities restructuring losses (5)				4,808			6,066				5,685				5,869			22,428
Operating Ratios
Return on average assets-GAAP earnings (2), (3)				0.85	%		0.47	%			0.95		%		0.99	%		0.82	%
Return on average tangible assets (2), (3), (4), (5)				0.91			1.09				1.01				1.05			1.02
Return on average shareholders' equity-GAAP earnings  (2), (3)				8.81			5.16				10.57				11.03			8.89
Return on average tangible shareholders’ equity (2), (3), (4), (5)				12.43			15.83				14.87				15.64			14.68
Net interest margin  (1), (2)				4.09			3.92				3.95				4.22			4.05
Average equity to average assets				9.62			9.15				8.99				8.98			9.18
Credit Analysis
Net charge-offs			$	143		$	125		$		27		$		23		$	318
Net charge-offs to average loans				0.03	%		0.03	%			0.01		%		0.01	%		0.02	%
Loan loss provision			$	1,107	$		(550)			$	2,250		$		475	$		3,282
Allowance to loans at end of period				0.84	%		0.82	%			0.86		%		0.77	%
Nonperforming assets			$	15,495	$		4,088	$			12,465		$		10,437
Nonperforming assets to loans and other real estate owned at end of period				0.85	%		0.23	%			0.72		%		0.63	%
Nonaccrual loans and accruing loans 90 days or more past due to loans outstanding at end of period				0.89			0.27				0.72				0.71
Per Share Common Stock
Net income diluted-GAAP earnings	$			0.25	$		0.14	$			0.30		$		0.31	$		1.00
Net income basic-GAAP earnings				0.25			0.15				0.30				0.31			1.01
Net income diluted-excluding securities  restructuring losses (5)				0.25			0.32				0.30				0.31			1.18
Net income basic-excluding securities restructuring losses (5)				0.25			0.32				0.30				0.31			1.18
Cash dividends declared				0.16			0.16				0.16				0.15			0.63
Book value per share				11.32			11.34				11.20				10.99
Average Balances
Total assets		$		2,277,678	$		2,379,739	$			2,372,784		$		2,350,862
Less:  Intangible assets				57,322			57,213				56,230				56,945
Total average tangible assets		$		2,220,356	$		2,322,526	$			2,316,554		$		2,293,917
Total equity		$		219,020	$		217,834	$			213,354		$		211,024
Less:  Intangible assets				57,322			57,213				56,230				56,945
Total average tangible equity		$		161,698	$		160,621	$			157,124		$		154,079

(1)

Calculated on a fully taxable equivalent basis using amortized cost.

(2)

These ratios are stated on an annualized basis and are not necessarily indicative of future periods.

(3)

The calculations of ROA and ROE do not include the mark-to-market unrealized gains (losses) because the unrealized gains (losses) on available for sale securities are not included in net income.

(4)

The Company believes that cash operating earnings excluding the impacts of noncash amortization expense on intangible assets is a better measurement of the Company’s trend in earnings growth.  

(5)

Excludes securities restructuring losses of $5,118 (or $3,297, net of taxes) recorded in first quarter 2007.

CONSOLIDATED QUARTERLY FINANCIAL DATA   (Unaudited) (continued)

SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

(Dollars in thousands)

SECURITIES		June 30, 2007				December 31, 2006				June 30, 2006
U.S. Treasury and U. S. Government Agencies	$		26,690	$			0	$			0
Securities – Trading			26,690				0				0
U.S. Treasury and U. S. Government Agencies			35,044				94,676				106,266
Mortgage-backed			143,325				214,661				257,639
Obligations of states and political subdivisions			2,071				2,049				2,020
Other securities			2,692				2,597				1,841
Securities – Available for Sale			183,132				313,983				367,766
Mortgage-backed			27,693				123,587				135,101
Obligations of states and political subdivisions			6,170				6,371				6,633
Securities – Held for Investment			33,863				129,958				141,734
Total Securities	$		243,685	$			443,941	$			509,500
LOANS		June 30, 2007			December 31, 2006						June 30, 2006
Construction and land development	$		601,552	$			571,133		$		511,480
Real estate mortgage			991,320				949,824				893,950
Installment loans to individuals			79,616				83,428				87,408
Commercial and financial			139,014				128,101				121,330
Other loans			1,585				625				478
Total Loans	$		1,813,087	$			1,733,111		$		1,614,646

AVERAGE BALANCES, YIELDS AND RATES  (Unaudited)

SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

		2007								2006
		Second Quarter		First Quarter						Second Quarter
		Average	Yield/			Average	Yield/			Average	Yield/
(Dollars in thousands)		Balance	Rate			Balance	Rate			Balance	Rate
Assets
Earning assets:
Securities:
Taxable	$	267,308	5.34	%	$	427, 743	4.43	%	$	567,572	4.31	%
Nontaxable		8,323	6.58			8,390	6.53			8,666	6.42
Total Securities		275,631	5.37			436,133	4.47			576,238	4.34
Federal funds sold and other investments		48,140	5.52			16,284	6.25			86,260	4.73
Loans, net		1,783,156	7.41			1,747,797	7.52			1,586,597	7.33
Total Earning Assets		2,106,927	7.10			2,200,214	6.92			2,249,095	6.47
Allowance for loan losses		(14,358)				(14,973)				(12,059	)
Cash and due from banks		70,274				77,101				74,788
Premises and equipment		38,445				37,646				32,771
Other assets		76,390				79,751				75,088
	$	2,277,678		$		2,379,739		$		2,419,683
Liabilities and Shareholders' Equity
Interest-bearing liabilities:
NOW	$	170,588	2.61	%	$	195,025	2.38	%	$	219,871	1.54	%
Savings deposits		121,159	0.71			130,985	0.71			166,563	0.74
Money market accounts		591,403	3.13			567,647	2.99			608,601	2.43
Time deposits		617,905	4.88			576,972	4.76			533,577	3.91
Federal funds purchased and other  short-term borrowings		110,123	4.40			225,805	4.95			105,140	4.12
Other borrowings		67,816	7.04			67,772	7.05			67,533	6.68
Total Interest-Bearing Liabilities		1,678,994	3.79			1,764,206	3.74			1,701,285	2.89
Demand deposits (noninterest-bearing)		370,953				387,299				496,308
Other liabilities		8,711				10,400				14,535
Total Liabilities		2,058,658				2,161,905				2,212,128
Shareholders' equity		219,020				217,834				207,555
	$	2,277,678		$		2,379,739		$		2,419,683
Interest expense as a % of earning assets			3.02	%			3.00	%			2.18	%
Net interest income as a % of earning assets			4.09				3.92				4.29

(1)

 On a fully taxable equivalent basis.  All yields and rates have been computed on an annualized basis using amortized cost.  Fees on loans have been included in interest on loans.  Nonaccrual loans are included in loan balances.