Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Company Only Financial Information

Note O

Seacoast Banking Corporation of Florida

(Parent Company Only) Financial Information

Balance Sheets

	December 31
	2014		2013
	(In thousands)
ASSETS
Cash	$	480	$	919
Securities purchased under agreement to resell with subsidiary bank, maturing within 30 days		37,836		792
Investment in subsidiaries		341,302		250,033
Other assets		0		493
	$	379,618	$	252,237
LIABILITIES AND SHAREHOLDERS' EQUITY
Subordinated debt	$	64,584	$	53,610
Other liabilities		2,383		23
Shareholders' equity		312,651		198,604
	$	379,618	$	252,237

Statements of Income (Loss)

	Year Ended December 31
	2014		2013		2012
	(In thousands)
Income
Dividends from subsidiary Bank	$	0	$	0	$	0
Interest/other		43		28		29
		43		28		29
Interest expense		1,053		958		1,057
Other expenses		1,000		450		575
Loss before income tax benefit and equity in undistributed income of subsidiaries		(2,010)		(1,380)		(1,603)
Income tax benefit		(704)		(2,281)		0
Income (loss) before equity in undistributed income of subsidiaries		(1,306)		901		(1,603)
Equity in undistributed income of subsidiaries		7,002		51,088		893
Net income (loss)	$	5,696	$	51,989	$	(710)

Statement of Cash Flows

	Year Ended December 31
	2014		2013		2012
	(In thousands)
Cash flows from operating activities
Interest received	$	43	$	5	$	7
Interest paid		(1,058)		(957)		(1,045)
Dividends received		24		23		22
Income taxes received (paid)		573		1,797		(32)
Other		(964)		(494)		(703)
Net cash provided by (used in) operating activities		(1,382)		374		(1,751)
Cash flows from investing activities
Decrease (increase) in securities purchased under agreement to resell, maturing within 30 days, net		(37,044)		2,130		422
Net cash provided by (used in) investment activities		(37,044)		2,130		422
Cash flows from financing activities
Issuance of common stock, net of related expense		24,637		46,977		0
Subordinated debt increase		13,208		0		0
Repurchase of stock warrants, including related expense		0		0		(81)
Stock based employment plans		142		190		196
Redemption of preferred stock		0		(50,000)		0
Dividends paid on preferred shares		0		(2,819)		(2,500)
Net cash provided by (used in) financing activities		37,987		(5,652)		(2,385)
Net change in cash		(439)		(3,148)		(3,714)
Cash at beginning of year		919		4,067		7,781
Cash at end of year	$	480	$	919	$	4,067
RECONCILIATION OF INCOME (LOSS) TO CASH USED IN OPERATING ACTIVITIES
Net income (loss)	$	5,696	$	51,989	$	(710)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Equity in undistributed income of subsidiaries		(7,002)		(51,088)		(893)
Other, net		(76)		(527)		(148)
Net cash provided by (used in) operating activities	$	(1,382)	$	374	$	(1,751)