Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2012

Parent Company Only Financial Information [Abstract]

Financial Information

Note    O

Seacoast Banking Corporation of Florida

(Parent Company Only) Financial Information

Balance Sheets

	December 31
	2012		2011
	(In thousands)
ASSETS
Cash	$	4,067	$	7,781
Securities purchased under agreement to resell with subsidary bank, maturing within 30 days		2,922		3,344
Investment in subsidiaries		212,182		212,583
Other assets		13		14
	$	219,184	$	223,722
LIABILITIES AND SHAREHOLDERS’ EQUITY
Subordinated debt	$	53,610	$	53,610
Other liabilities		28		35
Shareholders’ equity		165,546		170,077
	$	219,184	$	223,722

Statements of Income (Loss)

	Year Ended December 31
	2012			2011			2010
	(In thousands)
Income
Dividends from subsidiary Bank	$	0		$	0		$	0
Interest/other		29			79			12
		29			79			12
Interest expense		1,057			1,152			1,187
Other expenses		575			405			879
Loss before income tax benefit and equity in undistributed income (loss) of subsidiaries		(1,603	)		(1,478	)		(2,054	)
Income tax benefit		0			0			0
Loss before equity in undistributed income (loss) of subsidiaries		(1,603	)		(1,478	)		(2,054	)
Equity in undistributed income (loss) of subsidiaries		893			8,145			(31,149	)
Net income (loss)	$	(710	)	$	6,667		$	(33,203	)

Statement of Cash Flows

	Year Ended December 31
	2012			2011			2010
	(In thousands)
Cash flows from operating activities
Interest received	$	7		$	9		$	12
Interest paid		(1,045	)		(3,288	)		0
Dividends received		22			70			0
Income taxes paid		(32	)		(67	)		63
Other		(703	)		(420	)		(893	)
Net cash used in operating activities		(1,751	)		(3,696	)		(818	)
Cash flows from investing activities
Decrease in securities purchased under agreement to resell, maturing within 30 days, net		422			285			1,601
Investments in subsidiaries		0			0			(38,000	)
Net cash provided by (used in) investment activities		422			285			(36,399	)
Cash flows from financing activities
Issuance of common stock, net of related expense		0			0			47,127
Repurchase of stock warrants, including related expense		(81	)		0			0
Stock based employment plans		196			123			180
Dividend reinvestment plan		0			0			20
Dividends paid on preferred shares		(2,500	)		(6,875	)		0
Net cash provided by (used in) financing activities		(2,385	)		(6,752	)		47,327
Net change in cash		(3,714	)		(10,163	)		10,110
Cash at beginning of year		7,781			17,944			7,834
Cash at end of year	$	4,067		$	7,781		$	17,944
RECONCILIATION OF INCOME (LOSS) TO CASH USED IN OPERATING ACTIVITIES
Net income (loss)	$	(710	)	$	6,667		$	(33,203	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Equity in undistributed (income) loss of subsidiaries		(893	)		(8,145	)		31,149
Other, net		(148	)		(2,218	)		1,236
Net cash used in operating activities	$	(1,751	)	$	(3,696	)	$	(818	)