Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2013

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
	2013		2012
	(In thousands)
ASSETS
Cash	$	919	$	4,067
Securities purchased under agreement to resell with subsidiary bank, maturing within 30 days		792		2,922
Investment in subsidiaries		250,033		212,182
Other assets		493		13
	$	252,237	$	219,184
LIABILITIES AND SHAREHOLDERS’ EQUITY
Subordinated debt	$	53,610	$	53,610
Other liabilities		23		28
Shareholders’ equity		198,604		165,546
	$	252,237	$	219,184

Statements of Income (Loss)

	Year Ended December 31
	2013			2012			2011
	(In thousands)
Income
Dividends from subsidiary Bank	$	0		$	0		$	0
Interest/other		28			29			79
		28			29			79
Interest expense		958			1,057			1,152
Other expenses		450			575			405
Loss before income tax benefit and equity in undistributed income of subsidiaries		(1,380	)		(1,603	)		(1,478	)
Income tax benefit		(2,281	)		0			0
Income (loss) before equity in undistributed income of subsidiaries		901			(1,603	)		(1,478	)
Equity in undistributed income of subsidiaries		51,088			893			8,145
Net income (loss)	$	51,989		$	(710	)	$	6,667

Statement of Cash Flows

	Year Ended December 31
	2013			2012			2011
	(In thousands)
Cash flows from operating activities
Interest received	$	5		$	7		$	9
Interest paid		(957	)		(1,045	)		(3,288	)
Dividends received		23			22			70
Income taxes received (paid)		1,797			(32	)		(67	)
Other		(494	)		(703	)		(420	)
Net cash provided by (used in) operating activities		374			(1,751	)		(3,696	)
Cash flows from investing activities
Decrease in securities purchased under agreement to resell, maturing within 30 days, net		2,130			422			285
Net cash provided by investment activities		2,130			422			285
Cash flows from financing activities
Issuance of common stock, net of related expense		46,977			0			0
Repurchase of stock warrants, including related expense		0			(81	)		0
Stock based employment plans		190			196			123
Redemption of preferred stock		(50,000	)		0			0
Dividends paid on preferred shares		(2,819	)		(2,500	)		(6,875	)
Net cash used in financing activities		(5,652	)		(2,385	)		(6,752	)
Net change in cash		(3,148	)		(3,714	)		(10,163	)
Cash at beginning of year		4,067			7,781			17,944
Cash at end of year	$	919		$	4,067		$	7,781
RECONCILIATION OF INCOME (LOSS) TO CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES
Net income (loss)	$	51,989		$	(710	)	$	6,667
Adjustments to reconcile net income (loss) to net cash used in operating activities: Equity in undistributed income of subsidiaries		(51,088	)		(893	)		(8,145	)
Other, net		(527	)		(148	)		(2,218	)
Net cash provided by (used in) operating activities	$	374		$	(1,751	)	$	(3,696	)