Business Combinations (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of summarizing the purchase price calculation

The purchase price consisted of stock, and additionally the Company paid approximately $1.48 million in cash for all of Grand’s outstanding shares of preferred B stock, representing the par value of $1,000 per share of preferred B stock. Each share of Grand common stock and Preferred A stock was exchanged for 0.3114 shares of the Company’s common stock, or approximately 1.09 million shares of Company stock. Based on the price of the Company’s common stock of $15.75 per share on July 17, 2015, plus cash paid for Grand’s outstanding shares of preferred B stock, the total purchase price was $18.7 million.

	July 15, 2015
Grand preferred B shares exchanged for cash	$	1,481,000

Number of Grand common shares outstanding		3,501,185
Per share exchange ratio		0.3114
Number of shares of common stock issued		1,090,269
Multiplied by comon stock price per share on July 17, 2015	$	15.75
Value of common stock issued		17,171,737

Total purchase price	$	18,652,737

Schedule of Business Acquisitions, by Acquisition

The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition. As previously disclosed the fair value initially assigned to assets acquired and liabilities assumed were preliminary and could change for up to one year after the closing date of the acquisition as new information and circumstances relative to closing date fair values are known. Based on recoveries of principal and interest on loans previously charged off and OREO appraisals received subsequent to the acquisition date, the Company adjusted its initial fair value estimates at acquisition date as indicated in the table below. Determining fair values of assets and liabilities, especially the loan portfolio and foreclosed real estate, is a complicated process involving significant judgment regarding methods and assumptions used to calculate estimated fair values. Adjustments under ASU Topic 805 resulted in a bargain purchase gain of $416,000 that was recorded in noninterest income in the fourth quarter of 2015.

			Measurement
	July 17, 2015		Period		July 17, 2015
	(Initially Reported)		Adjustments		(As Adjusted)
	(in thousands)
Assets:
Cash	$	34,408	$	0	$	34,408
Investment securities		46,366		0		46,366
Loans, net		109,988		1,304		111,292
Fixed assets		4,191		0		4,191
OREO		2,424		437		2,861
Core deposit intangibles		2,564		0		2,564
Goodwill		555		(555)		0
Other assets		14,163		(770)		13,393
	$	214,659	$	416	$	215,075

Liabilities:
Deposits	$	188,469	$	0	$	188,469
Borrowings		1,658		0		1,658
Subordinated debt		5,151		0		5,151
Other liabilities		728		0		728
	$	196,006	$	0	$	196,006
Bargain purchase gain			$	(416)

Fair Value, Assets Measured on Recurring Basis

The table below presents information with respect to the fair value of acquired loans, as well as their unpaid principal balance (“Book Balance”) at acquisition date.

	July 17, 2015
(Dollars in thousands)	Book Balance		Fair Value
Loans:
Single family residential real estate	$	6,158	$	6,379
Commercial real estate		82,782		81,191
Construction/development/land		979		913
Commercial loans		2,393		1,516
Consumer and other loans		14,575		13,692
Purchased credit-impaired		10,993		7,601
Total acquired loans	$	117,880	$	111,292

Schedule of Contractually required principal and interest payments

Contractually required principal and interest payments have been adjusted for estimated prepayments.

(Dollars in thousands)	July 17, 2015

Contractually required principal and interest	$	12,552
Non-accretable difference		(4,249)
Cash flows expected to be collected		8,303
Accretable yield		(702)
Total purchased credit impaired loans acquired	$	7,601

Floridian Financial Group, Inc [Member]

Business Acquisition [Line Items]

Schedule of summarizing the purchase price calculation

The Company acquired 100% of the outstanding common stock of Floridian. Under the terms of the definitive agreement, Floridian shareholders received, at their election, (i) the combination of $4.29 in cash and 0.5291 shares of Seacoast common stock, (ii) $12.25 in cash, or (iii) 0.8140 shares of Seacoast common stock, subject to a customary proration mechanism so that the aggregate consideration mix equals 35% cash and 65% Seacoast shares (based on Seacoast’s closing price of $15.47 per share on March 11, 2016).

	March 11, 2016
Floridian shares exchanged for cash	$	26,699,000

Number of Floridian common shares outstanding		6,222,119
Per share exchange ratio		0.5289
Number of shares of common stock issued		3,291,066
Multiplied by common stock price per share on March 11, 2016	$	15.47
Value of common stock issued		50,912,791

Total purchase price	$	77,611,791

Schedule of Business Acquisitions, by Acquisition

The acquisition is accounted for under the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations. The Company recognized goodwill on this acquisition which is nondeductible for tax purposes as this acquisition is a nontaxable transaction. The goodwill was calculated based on the fair values of the assets acquired and liabilities assumed as of the acquisition date. Loans that were nonaccrual and all loan relationships identified as impaired as of the acquisition date were considered by management to be credit impaired and were accounted for pursuant to ASC Topic 310-30.

			Measurement
	March 11, 2016		Period		March 11, 2016
	(Initially Reported)		Adjustments		(As Adjusted)
	(in thousands)
Assets:
Cash	$	28,243	$	0	$	28,243
Investment securities		66,912		95		67,007
Loans, net		268,249		(2,112)		266,137
Fixed assets		7,801		(628)		7,173
Core deposit intangibles		3,375		0		3,375
Goodwill		29,985		1,647		31,632
Other assets		12,879		998		13,877
	$	417,444	$	0	$	417,444

Liabilities:
Deposits	$	337,341	$	0	$	337,341
Other liabilities		2,492		0		2,492
	$	339,833	$	0	$	339,833

Fair Value, Assets Measured on Recurring Basis

The table below presents information with respect to the fair value of acquired loans, as well as their unpaid principal balance (“Book Balance”) at acquisition date.

	March 11, 2016
(Dollars in thousands)	Book Balance		Fair Value
Loans:
Single family residential real estate	$	38,304	$	37,367
Commercial real estate		172,531		167,105
Construction/development/land		20,546		18,108
Commercial loans		39,070		37,804
Consumer and other loans		3,385		3,110
Purchased credit-impaired		6,186		2,643
Total acquired loans	$	280,022	$	266,137

Schedule of Contractually required principal and interest payments

Contractually required principal and interest payments have been adjusted for estimated prepayments.

(Dollars in thousands)	March 11, 2016

Contractually required principal and interest	$	8,031
Non-accretable difference		(4,820)
Cash flows expected to be collected		3,211
Accretable yield		(568)
Total purchased credit impaired loans acquired	$	2,643

Business Acquisition, Pro Forma Information

The operating results of the Company for the twelve months ended December 31, 2016 include the operating results of the acquired assets and assumed liabilities since the date of acquisition of March 11, 2016. Pro-forma data for the twelve months ended December 31, 2016 and 2015 listed in the table below present pro-forma information as if the acquisition occurred at the beginning of 2015.

	Twelve Months Ended
	December 31,
(Dollars in thousands, except per share amounts)	2016		2015

Net interest income	$	142,354	$	122,413
Net income available to common shareholders		30,466		27,070
EPS - basic	$	0.81	$	0.74
EPS - diluted		0.80		0.73

BMO Harris Bank [Member]

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The fair values listed are preliminary and are subject to adjustment. The acquisition is accounted for under the acquisition method in accordance with ASC Topic 805, Business Combinations. The fair values initially assigned to assets acquired and liabilities assumed are preliminary and could change for up to one year after the closing date of the acquisition as new information and circumstances relative to closing date fair values are known. Determining fair values of assets and liabilities, especially the loan portfolio and bank premises and leases related to the fourteen branches acquired, is a complicated process involving significant judgment regarding methods and assumptions used to calculate estimated fair values.

			Measurement
	June 3, 2016		Period		June 3, 2016
	(Initially Reported)		Adjustments		(As Adjusted)
	(in thousands)
Assets:
Cash from BMO (net of payable)	$	234,094	$	0	$	234,094
Loans, net		62,671		0		62,671
Fixed assets		3,715		0		3,715
Core deposit intangibles		5,223		(135)		5,088
Goodwill		7,645		163		7,808
Other assets		952		(28)		924
	$	314,300	$	0	$	314,300

Liabilities:
Deposits	$	314,248	$	0	$	314,248
Other liabilities		52		0		52
	$	314,300	$	0	$	314,300

Fair Value, Assets Measured on Recurring Basis

The table below presents information with respect to the fair value of acquired loans, as well as their unpaid principal balance (“Book Balance”) at acquisition date.

	June 3, 2016
(Dollars in thousands)	Book Balance		Fair Value
Loans:
Commercial real estate	$	31,564	$	31,200
Commercial loans		32,479		31,471
Purchased credit-impaired		0		0
Total acquired loans	$	64,043	$	62,671