Exhibit 12.1

RATIO OF EARNINGS (LOSSES) TO COMBINED FIXED CHARGES AND PREFERNECE DIVIDENDS

Our consolidated ratio of earnings (losses) to combined fixed charges and preferred share dividends for each of the periods indicated is as follows:

	Years Ended December 31,
	2013		2012		2011		2010			2009
Ratio of Earnings (Losses) to Combined Fixed Charges and Preferred Share Dividends:
Including interest on deposits		2.39		0.94		1.41		(0.59	)		(4.09	)
Excluding interest on deposits		3.05		0.87		2.22		(5.00	)		(24.02	)

For purposes of computing the ratios above, earnings represent the sum of income (loss) from continuing operations before taxes plus fixed charges and preferred share dividend requirements. Fixed charges represent total interest expense, including and excluding interest on deposits. Preferred share dividend requirements represent the amount of pre-tax income required to pay the dividends on preferred shares. Our Fixed Rate Cumulative Perpetual Preferred Shares, Series A, par value $0.10 per share (the “Series A Preferred Stock”), issued on December 19, 2008, was redeemed in full on December 31, 2013.

			Years Ended December 31,
Dollars in thousands	2013		2012			2011		2010			2009
Income (Loss) Before Taxes	$	11,604	$	(710	)	$	6,667	$	(33,203	)	$	(158,511	)
Plus: Interest on Deposits		2,729		5,491			10,986		15,297			24,780
Plus: Interest on Federal Funds Purchased		—		—			—		—			—
Plus: Interest on Repurchase Agreements		286		340			276		237			431
Plus: Interest on FHLB Advances		1,608		1,612			1,607		1,607			2,051
Plus: Interest on SunTrust Term Loan		—		—			—		—			—
Plus: Interest on Subordinated Debt Supporting Trust                 Preferred Stock Issuances		934		1,035			917		1,025			1,320
Plus: Interest on Dividend Deferral for Trust                 Preferred Stock Issuances		—		—			167		163			34
Plus: Dividends on Preferred Stock		2,819		2,500			2,500		2,500			2,500
Plus: Interest Within Rental Expense*		—		—			—		—			—
Combined Fixed Charges and Preferred Dividends                 (Including Interest on Deposits)		8,376		10,978			16,453		20,829			31,116
Adjusted Earnings (Losses)	$	19,980	$	10,268		$	23,120	$	(12,374	)	$	(127,395	)

Earnings for the years ended December 31, 2010 and 2009 were inadequate to cover fixed charges and preferred stock dividends by $27,671 and $152,175, respectively, excluding interest on deposits, and $33,203 and $158,511, respectively, including interest on deposits.

*All of the Seacoast Banking Corporation of Florida’s leases are operating; none are capitalized.