EX-99.1

Dennis S. Hudson, III
Chairman and Chief Executive Officer
Seacoast Banking Corporation of Florida
(772) 288-6085

William R. Hahl
Executive Vice President/
Chief Financial Officer
(772) 221-2825

SEACOAST REPORTS IMPROVEMENT IN ASSET QUALITY AND RESULTS OF OPERATIONS FOR FOURTH QUARTER 2009

– Capital levels strengthened with closing of private placement as planned

Stuart, FL., January 28, 2010 – Seacoast Banking Corporation of Florida (NASDAQ-NMS: SBCF) today reported a fourth quarter net loss of $36.1 million compared with a net loss of $22.6 million for the fourth quarter of 2008. Including preferred stock dividends and accretion of discount of $937,000, the net loss applicable to common shareholders was $37.1 million or $0.69 per average common diluted share for the fourth quarter compared to a net loss of $22.7 million or $1.19 per average common diluted share for the fourth quarter of 2008.

During the quarter, we reduced large loan concentrations to more acceptable levels, which also produced a significant decline in the level of nonperforming loans and assets. Loan charge-offs were higher than anticipated due to the achievement of higher levels of loan sales. Continued aggressive collection and liquidation efforts, as well as the sale of approximately $68 million in problem assets during the quarter, helped reduce nonperforming loans by more than 36 percent. Nonperforming assets fell to 5.72 percent of assets at year end.

The Company’s capital position remains strong with a total risk-based capital ratio of approximately 15.2 percent at year-end 2009, compared to 16.2 percent at September 30, 2009 and 12.2 percent at December 31, 2008. In August 2009, the Company completed a common stock offering with gross proceeds of $89 million.

Over the past two years, the Company has aggressively reduced its exposure to construction and development loans in response to significant value declines for Florida real estate. Total construction and land development loans which peaked at 272 percent of tier 1 capital and the allowance for loan losses has been reduced to 68 percent at year-end. Total CRE exposure which peaked at 488 percent of tier 1 capital and the allowance for loan losses has been reduced to 295 percent. These levels are now below regulatory benchmarks for institutions having higher concentrations in construction or commercial real estate loans.

“Last quarter we reported that we had completed our goal of reducing our exposure to residential development loans and that nonaccrual loans had likely peaked”, said Dennis S. Hudson, III, Chairman and Chief Executive Officer. “This quarter our nonaccrual loans declined by 36.4 percent as our stronger capital base allowed us to increase our effort to reduce and resolve nonperforming loans through loan sales and by working with distressed borrowers. While painful, our comprehensive approach to lower the Company’s credit risk profile as quickly as possible has been successful. The number of large balance exposures was materially reduced during 2009, and as a result we expect lower loss severity and loss volatility going forward,” added Mr. Hudson.

Based on a significant reduction in larger balance problem loans and reductions in classified loan balances evidenced since June of 2009, the Company expects the deterioration of problem credits to moderate and, as a result, loan charge-offs are expected to decline significantly in the upcoming quarter.

Construction and land development portfolios are being run-off and risk is being reduced. These portfolios have been the primary source of increases in both nonperforming loans and loan losses over the past two years.

Liquidation of the construction and land development loan portfolio continued in the current quarter with commercial construction loans declining significantly by $51.2 million or 39.8 percent to $77.5 million. Overall liquidation of both the residential and commercial components of the construction portfolios has been achieved through early recognition of the potential for portfolio weakness in early 2007 as the housing market began to decline, as well as aggressive collection and liquidation activities with borrowers and the sale of a number of larger problem loans. Total construction and land development loans have been reduced to approximately one quarter of that reported at the high point in 2007, and a substantial portion of the remaining portfolio is currently classified nonaccrual, and is now in the process of liquidation in accordance with specific workout plans designed to achieve substantial liquidation in an orderly fashion over the next year.

Commercial real estate mortgage loans remain well diversified (as shown in the attached table) with all but three categories of exposure at less than 20 percent of tier 1 capital and the allowance for loan losses. The three largest categories of exposure are office buildings, retail trade and industrial at 55 percent, 68 percent and 37 percent, respectively, of tier 1 capital and the allowance for loan losses. While the Company may see further deterioration over time in this portfolio as a result of continuing economic weakness, we expect a much lower level of loss potential than recently experienced in our construction and land development portfolios.

Nonperforming assets declined substantially during the quarter due to a slowing of the deterioration of loans and the sale of approximately $68 million in nonperforming loans. The sale of loans included approximately $35 million in noncurrent or restructured residential mortgage loans. Total restructured loans grew substantially due to our focus on early intervention loss mitigation strategies in connection with several larger locally based commercial real estate mortgage borrowers. These restructures are supported with current cash flow projections supporting debt service requirements.

*Loans classified as nonaccrual (including restructured loans) and less than 30 days past due.

Nonaccruing loans fell during the quarter by $56 million to $98 million at year end, a reduction of 36.4 percent. During the quarter, nonaccruing and restructured residential mortgage loans fell significantly due to the previously mentioned loan sale and a significant reduction in new problem loans, including a significant reduction in customers seeking restructured mortgages. A total of 48 applications for residential mortgage modification were received in the final quarter of 2009, compared with 73 in the third quarter and 102 in the second quarter of the year.

Early stage delinquencies improved or remained stable for all portfolios during the quarter. Accruing residential mortgage loans (including home equity lines) 30-89 days past due totaled $5.7 million (or 1.1 percent of residential loans) compared to $7.1 million in the prior quarter. Commercial real estate and construction and land development loans 30-89 days past due totaled $2.2 million (or 0.3 percent) compared to $3.0 million in the prior quarter. Loans 90 days or more past due, not on nonaccrual, continued to be nominal for all portfolios.

Liquidity remains strong and stable, supported by the Bank’s diverse local retail and commercial deposit base with no overnight borrowings. The Company’s outstanding wholesale funding represents approximately 6.6 percent of total assets at year-end 2009, comprised of longer term Federal Home Loan Bank advances, subordinated debt and a small and declining portfolio of brokered certificates of deposit. During July 2008, the Company tested its ability to access the brokered certificates of deposit market. In addition, during the second half of 2008 and the year 2009, some the Bank’s existing customers utilized the CDARS program to obtain 100 percent FDIC insurance coverage for larger balance certificate of deposits which are required to be classified as brokered certificates of deposit. Brokered certificates of deposit totaled approximately $39 million at year end.

During the fourth quarter of 2008, the Company undertook a comprehensive review of its expense structure and developed a plan to reduce expenses. Reductions in overhead totaled $6.0 million in 2009, but were offset with higher credit related expenses and higher FDIC insurance assessments. The expense reductions during 2009 included: reduced salaries and employee benefits, outsourced data processing, furniture and equipment and marketing costs. Total noninterest expenses for the year ended 2009 (excluding noncash goodwill impairment) totaled $81.9 million, an increase of $3.0 million compared with 2008. Excluding net losses on OREO and other one-time expenditures, other operating expenses declined to $17.7 million in the fourth quarter, $2.4 million or 12.1 percent lower on a comparable basis to the fourth quarter last year.

Net interest income (on a tax equivalent basis) was $17.5 million for the fourth quarter 2009, the same as the fourth quarter 2008, but $1.6 million below third quarter 2009 as a result of a decline in loans and lower loan and investment yields. These adverse impacts were partially offset by reduced deposit costs, and produced higher net interest margin, which totaled 3.37 percent, up 5 basis points in the fourth quarter 2009, compared with 3.32 percent for the same quarter 2008, but lower than the 3.74 percent for the third quarter 2009.

Average loans outstanding (net of unearned income) during the fourth quarter 2009 were $260 million lower than the same quarter of 2008, and ending loans (net of unearned income) were $279 million or 16.7 percent lower than a year ago. The yield on loans in the fourth quarter 2009 was 50 basis points lower than the same period in 2008, reflecting the impact of higher average nonperforming and restructured loans. Average noninterest bearing deposits in the fourth quarter 2009 declined by $1.2 million, compared to the same period in 2008, but increased by $1.6 million compared to the third quarter 2009. Average interest bearing deposits in the fourth quarter totaled $1.52 billion, $44 million lower when compared to the same quarter for 2008, primarily as a result of a decline in brokered certificates of deposits. More recently, average interest bearing deposits increased $55.3 million during the fourth quarter 2009 compared with the third quarter of 2009. Average balances for certificates of deposits increased by $18 million compared to the third quarter to $711 million during the fourth quarter of 2009. The average rate paid in the fourth quarter 2009 for certificates of deposits was 2.20 percent, 139 basis points lower than the rate paid for the same period in 2008. The average cost of interest bearing liabilities for the fourth quarter 2009 totaled 1.38 percent, down 114 basis points from the fourth quarter of 2008, and the average cost of deposits declined 98 basis points to 1.15 percent when compared with the same period for 2008.

As reported throughout the year, the Company has been executing a retail core deposit strategy and has experienced strong growth in core deposit customer relationships when compared to the prior year’s results. Outstanding balances for noninterest bearing demand and savings accounts (including money market balances) increased during the fourth quarter by 7 and 25 percent annualized, respectively. These relationship balances have increased as a result of the retail deposit growth strategy, which has improved market share, increased average services per household and decreased customer attrition. Retail and commercial core deposits (total deposits excluding certificates of deposit greater than $100,000, brokered certificates and deposits from local governments) increased to $1.35 billion at year end, up $38.8 million or 3.0 percent (or 11.9 percent annualized) during the fourth quarter. Total deposits excluding brokered certificates increased by $30.8 million or 1.8 percent for the year ended 2009.

•

Loan loss reserves remained strong at 3.09 percent of total loans compared to 1.75 percent of total loans at the end of the prior year;

•

Residential loans in the process of foreclosure declined $10.3 million from the third quarter 2009 to $2.7 million at the end of the year;

•

Internally criticized and classified loans, which grew significantly over the past two years as a result of deteriorating market conditions, have declined steadily since June 30, 2009;

•

Net interest income totaled $73.8 million for the year, and the net interest margin was 3.55 percent, only 3 basis points lower than the prior year.

Earnings (before the provision for loan losses and taxes) for the quarter totaled approximately $3.4 million, down from $4.6 million in the third quarter 2009, the result of lower net interest income of $1.6 million and increased costs associated with one-time consulting projects and branch closures, up $1.5 million over the third quarter. It is expected that net interest income will benefit from the improved deposit mix and deposit re-pricing, offset by negative loan growth and declining asset yields. Pre-provision earnings are expected to remain in the $4 million range per quarter in 2010, provided the elevated credit costs are lower as a result of reduced problem assets.

Noninterest expenses totaled $20.9 million, increasing $135,000 from the prior year’s fourth quarter and $362,000 greater than the third quarter of 2009. Professional fees associated with strategic planning assistance and losses on closed branch facilities in the fourth quarter 2009 added $832,000 and $905,000, respectively, to total expenses compared to a year ago. The Company believes that the higher level of legal costs experienced this year should begin to decline in 2010, as the majority of loans which have accounted for these elevated expense levels have been significantly reduced.

The tax benefit for the net loss for the fourth quarter totaled $13.9 million. The deferred tax valuation allowance was increased by a like amount, and therefore there was no change in the carrying value of deferred tax assets which are supported by tax planning strategies. Due to limitations on the inclusion of deferred tax assets, regulatory capital ratios are unaffected by the reduced tax benefit for the quarter. Should the economy show signs of improvement and our credit losses moderate, we anticipate that we could place increased reliance on our forecast of future taxable earnings, which would support realization of the third and fourth quarter deferred tax assets and increase the Company’s common shareholders’ equity by up to $29.6 million.

Noninterest income, excluding securities gains and losses, declined 4.7 percent when compared to the fourth quarter of 2008, reflecting decreased revenues primarily from wealth management fees, marine finance fees, and service charges on deposits, offset by increases in mortgage banking and debit card fees. The tight credit markets were responsible for much lower marine finance activities. A more stable residential market and improved home affordability accounted for increased residential mortgage applications and closings in 2009. Merchant income, wealth management, and other revenue tied to transaction volumes were all lower as a result of the economic recession. The Company expects these revenue sources to be weaker until the economy in its markets begins to improve.

Seacoast will host a conference call on Friday, January 29, 2010 at 9:30 a.m. (Eastern Time) to discuss the earnings results and business trends. Investors may call in (toll-free) by dialing (888) 517-2464 (access code: 8397217; leader: Dennis S. Hudson). Charts will be used during the conference call and may be accessed at Seacoast’s website at www.seacoastbanking.net by selecting “Presentations” under the heading “Investor Services”. A replay of the call will be available for one month, beginning the afternoon of January 29, by dialing (877) 213-9653 (domestic), using the passcode 8397217. Alternatively, individuals may listen to the live audio webcast of the presentation by visiting Seacoast’s website at www.seacoastbanking.net. The link is located in the subsection “Presentations” under the heading “Investor Services”. Beginning the afternoon of January 29, 2010, an archived version of the webcast can be accessed from this same subsection of the website. The archived webcast will be available for one year.

Seacoast Banking Corporation of Florida has approximately $2.2 billion in assets. It is one of the largest independent commercial banking organizations in Florida, headquartered on Florida’s Treasure Coast, one of the wealthiest and fastest growing areas in the nation.

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements about future financial and operating results, ability to realized deferred tax assets, cost savings, enhanced revenues, economic and seasonal conditions in our markets, and improvements to reported earnings that may be realized from cost controls and for integration of banks that we have acquired, as well as statements with respect to Seacoast’s objectives, expectations and intentions and other statements that are not historical facts. Actual results may differ from those set forth in the forward-looking statements.

Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance or achievements of Seacoast to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. You should not expect us to update any forward-looking statements.

You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “support”, “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “further”, “point to,” “project,” “could,” “intend” or other similar words and expressions of the future. These forward-looking statements may not be realized due to a variety of factors, including, without limitation: the effects of future economic and market conditions, including seasonality; governmental monetary and fiscal policies, as well as legislative, tax and regulatory changes; changes in accounting policies, rules and practices; the risks of changes in interest rates on the level and composition of deposits, loan demand, liquidity and the values of loan collateral, securities, and interest sensitive assets and liabilities; interest rate risks, sensitivities and the shape of the yield curve; the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions operating in our market areas and elsewhere, including institutions operating regionally, nationally and internationally, together with such competitors offering banking products and services by mail, telephone, computer and the Internet; and the failure of assumptions underlying the establishment of reserves for possible loan losses. The risks of mergers and acquisitions, include, without limitation: unexpected transaction costs, including the costs of integrating operations; the risks that the businesses will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than expected; the potential failure to fully or timely realize expected revenues and revenue synergies, including as the result of revenues following the merger being lower than expected; the risk of deposit and customer attrition; any changes in deposit mix; unexpected operating and other costs, which may differ or change from expectations; the risks of customer and employee loss and business disruption, including, without limitation, as the result of difficulties in maintaining relationships with employees; increased competitive pressures and solicitations of customers by competitors; as well as the difficulties and risks inherent with entering new markets.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 10-K for the year ended December 31, 2008 and in our quarterly report on Form 10-Q/A for the period ending September 30, 2009 under “Special Cautionary Notice Regarding Forward-Looking Statements” and “Risk Factors”, and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov.


FINANCIAL HIGHLIGHTS							(Unaudited)
SEACOAST BANKING	CORPORATION	OF FLORIDA AND				SUBSIDIARIES
		Three Months Ended										Twelve Months Ended
(Dollars in thousands,		December 31,										December 31,
except per share data)		2009						2008				2009					2008
Summary of Earnings
Net loss		$	(36,149	)			$		(22,596	)		$	(144,686	)	$			(45,597	)
Net loss available to common shareholders			(37,086	)					(22,679	)			(148,434	)				(45,712	)
Net interest income (1)			17,518						17,535				73,847					77,517
Performance Ratios
Return on average assets-GAAP basis (2),(3)			(6.55	)	%				(3.99	)	%		(6.49	)		%		(1.97	)	%
Return on average tangible assets (2),(3),(4)			(6.53	)					(4.05	)			(4.28	)				(1.99	)
Return on average shareholders’ equity–GAAP basis (2),(3)			(80.08	)					(45.92	)			(72,78	)				(22.25	)
Net interest margin (1),(2)			3.37						3.32				3.55					3.58
Per Share Data
Net loss diluted-GAAP basis		$	(0.69	)			$		(1.19	)		$	(4.68	)	$			(2.41	)
Net loss basic-GAAP basis			(0.69	)					(1.19	)			(4.68	)				(2.41	)
Cash dividends declared			0.00						0.01				0.01					0.34

(2)

These ratios are stated on an annualized basis and are not necessarily indicative of future periods.

(3)

The calculations of ROA and ROE do not include the mark-to-market unrealized gains (losses) because the unrealized gains (losses) are not included in net income (loss).

(4)

The Company believes that return on average assets and equity excluding the impacts of noncash amortization expense on intangible assets is a better measurement of the Company’s trend in earnings growth.

(5)

The Company defines tangible common equity as total shareholders equity less preferred stock and intangible assets.

(6)

The ratio of tangible common equity to tangible assets is a non-GAAP ratio used by the investment community to measure capital adequacy.


FINANCIAL (Unaudited)
HIGHLIGHTS (cont’d)
SEACOAST BANKING CORPORATION OF FLORIDA	AND SUBSIDIARIES
(Dollars in thousands,		December 31,						Increase/
except per share data)		2009			2008			(Decrease)
Credit Analysis
Net charge-offs year-to-date		$	108,963		$	81,148			34.3		%
Net charge-offs to average loans			6.86	%		4.45	%		54.2
Loan loss provision year-to-date		$	122,767		$	88,634			38.5
Allowance to loans at end of period			3.09	%		1.75	%		76.6
Nonperforming loans		$	97,876		$	86,970			12.5
Other real estate owned			25,385			5,035			404.2

Total nonperforming assets		$	123,261		$	92,005			34.0

Restructured loans (accruing)		$	57,433		$	12,616			355.2
Nonperforming assets to loans and other real estate
owned at end of period			8.66	%		5.47	%		58.3
Nonperforming assets to total assets			5.72			3.97			44.1
Selected Financial Data
Total assets		$	2,153,315		$	2,314,436			(7.0	)
Securities – available for sale (at fair value)			393,648			318,030			23.8
Securities – held for investment (at amortized cost)			17,087			27,871			(38.7	)
Net loans			1,354,311			1,647,340			(17.8	)
Deposits			1,779,434			1,810,441			(1.7	)
Total shareholders’ equity			153,935			216,001			(28.7	)
Common shareholders’ equity			108,936			172,214			(36.7	)
Book value per share common			1.85			11.27			(83.6	)
Tangible book value per share			2.54			8.39			(69.7	)
Tangible common book value per share (5)			1.78			6.10			(70.8	)
Average shareholders’ equity to average assets			8.92	%		8.87	%		0.6
Tangible common equity to tangible assets (5),(6)			4.88			5.18			(5.8	)
Average Balances (Year-to-Date)
Total assets		$	2,228,418		$	2,311,052			(3.6	)
Less: intangible assets			29,446			55,817			(47.2	)

Total average tangible assets		$	2,198,972		$	2,255,235			(2.5	)

Total equity		$	198,798		$	204,933			(3.0	)
Less: intangible assets			29,446			55,817			(47.2	)

Total average tangible equity		$	169,352		$	149,116			13.6

(2)

These ratios are stated on an annualized basis and are not necessarily indicative of future periods.

(3)

The calculations of ROA and ROE do not include the mark-to-market unrealized gains (losses) because the unrealized gains (losses) are not included in net income (loss).

(4)

(5)

The Company defines tangible common equity as total shareholders equity less preferred stock and intangible assets.

(6)

The ratio of tangible common equity to tangible assets is a non-GAAP ratio used by the investment community to measure capital adequacy.


		Three Months Ended						Twelve Months Ended
		December 31,						December 31,
(Dollars in thousands, except per share data)		2009			2008 2009						2008
Interest on securities:
Taxable	$		3,862		$	3,663		$	16,357			$	14,198
Nontaxable			72			78			305				348
Interest and fees on loans			19,248			24,788			84,882				111,313
Interest on federal funds sold and other investments			241			151			661				1,225

Total Interest Income			23,423			28,680			102,205				127,084
Interest on deposits			1,247			3,179			6,031				17,295
Interest on time certificates			3,936			6,654			18,749				26,117
Interest on borrowed money			796			1,380			3,836				6,441

Total Interest Expense			5,979			11,213			28,616				49,853

Net Interest Income			17,444			17,467			73,589				77,231
Provision for loan losses			39,514			30,656			122,767				88,634

Net Interest Income (Loss) After Provision for Loan Losses			(22,070	)		(13,189	)		(49,178	)			(11,403	)
Noninterest income:
Service charges on deposit accounts			1,612			1,833			6,491				7,389
Trust income			543			574			2,098				2,344
Mortgage banking fees			422			184			1,746				1,118
Brokerage commissions and fees			321			447			1,416				2,097
Marine finance fees			228			318			1,153				2,304
Debit card income			658			574			2,613				2,453
Other deposit based EFT fees			79			83			331				359
Merchant income			409			487			1,764				2,399
Other			329			330			1,403				1,778

			4,601			4,830			19,015				22,241
Securities gains, net			2,188			0			5,399				355

Total Noninterest Income			6,789			4,830			24,414				22,596
Noninterest expenses:
Salaries and wages			6,446			7,083			26,693				30,159
Employee benefits			1,228			1,664			6,109				7,173
Outsourced data processing costs			1,741			1,812			7,143				7,612
Telephone / data lines			420			498			1,835				1,896
Occupancy expense			2,830			2,256			9,113				8,292
Furniture and equipment expense			697			706			2,701				2,841
Marketing expense			519			600			2,067				2,614
Legal and professional fees			2,336			2,117			6,984				5,662
FDIC assessments			1,042			1,034			4,952				2,028
Amortization of intangibles			315			315			1,259				1,259
Net loss on other real estate owned and other
asset dispositions			1,415			583			5,422				1,424
Goodwill impairment			0			0			49,813				0
Other expense			1,879			2,065			7,656				7,930

Total Noninterest Expenses			20,868			20,733			131,747				78,890
Loss Before Income Taxes			(36,149	)		(29,092	)		(156,511	)			(67,697	)
Benefit for income taxes			0			(6,496	)		(11,825	)			(22,100	)

Net Loss			(36,149	)		(22,596	)		(144,686	)			(45,597	)
Preferred Stock Dividends and Accretion on
Preferred Stock Discount			937			83			3,748				115
Net Loss Available to Common
Shareholders	$		(37,086	)	$	(22,679	)	$	(148,434	)		$	(45,712	)
Per share common stock:
Net loss diluted	$		(0.69	)	$	(1.19	)	$	(4.68	)		$	(2.41	)
Net loss basic			(0.69	)		(1.19	)		(4.68	)			(2.41	)
Cash dividends declared			0.00			0.01			0.01				0.34
Average diluted shares outstanding			53,790,905			19,044,853			31,733,260				18,997,757
Average basic shares outstanding			53,790,905			19,044,853			31,733,260				18,997,757

December 31,

December 31,

(Dollars in thousands, except share amounts)

2009

2008

Assets

Cash and due from banks

32,200

46,002

Federal funds sold

4,605

Interest bearing deposits with other banks

182,900

100,585

Total Cash and Cash Equivalents

215,100

151,192

Securities:

Available for sale (at fair value)

393,648

318,030

Held for investment (at amortized cost)

17,087

27,871

Total Securities

410,735

345,901

Loans available for sale

18,412

2,165

Loans, net of unearned income

1,397,503

1,676,728

Less: Allowance for loan losses

(43,192

)

(29,388

)

Net Loans

1,354,311

1,647,340

Bank premises and equipment, net

40,612

44,122

Other real estate owned

25,385

5,035

Goodwill and other intangible assets

4,121

55,193

Other assets

84,639

63,488

2,153,315

2,314,436

Liabilities and Shareholders’ Equity

Liabilities

Deposits

Demand deposits (noninterest bearing)

268,789

275,262

Savings deposits

838,288

802,201

Other time deposits

326,070

326,473

Brokered time certificates

38,656

100,463

Time certificates of $100,000 or more

307,631

306,042

Total Deposits

1,779,434

1,810,441

Federal funds purchased and securities sold under agreements to repurchase, maturing within 30 days

105,673

157,496

Borrowed funds

50,000

65,302

Subordinated debt

53,610

53,610

Other liabilities

10,663

11,586

1,999,380

2,098,435

Shareholders’ Equity

Preferred stock

44,999

43,787

Common stock

5,887

1,928

Additional paid in capital

178,133

99,788

Retained earnings

(76,237

)

70,278

Treasury stock

(855

)

(1,839

)

151,927

213,942

Accumulated other comprehensive gain, net

2,008

2,059

Total Shareholders’ Equity

153,935

216,001

2,153,315

2,314,436

Common Shares Outstanding

58,867,229

19,171,779

Note: The balance sheet at December 31, 2008 has been derived from the audited financial statements at that date.


CONSOLIDATED QUARTERLY FINANCIAL DATA	(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
			QUARTERS
			2009																				Last 12
(Dollars in thousands, except per share data)			Fourth					Third					Second				First						Months

Net loss		$		(36,149	)		$		(40,777	)	$			(63,000	)		$		(4,760	)	$			(144,686	)
Operating Ratios
Return on average assets-GAAP basis (2),(3)				(6.55	)	%			(7.55	)		%		(11.19	)	%			(0.83	)		%		(6.49	)	%
Return on average tangible assets (2),(3),(4)				(6.53	)				(7.53	)				(2.36	)				(0.82	)				(4.28	)
Return on average shareholders’ equity -GAAP basis (2),(3)				(80.08	)				(86.49	)				(119.80	)				(8.83	)				(72.78	)
Net interest margin (1),(2)				3.37					3.74					3.65					3.44					3.55
Average equity to average assets				8.13					8.73					9.34					9.45					8.92
Credit Analysis
Net charge-offs		$		45,172			$		40,142				$	15,109					8,540				$	108,963
Net charge-offs to average loans				12.12		%			10.14			%		3.71		%			2.07			%		6.86		%
Loan loss provision		$		39,514			$		45,374				$	26,277				$	11,652				$	122,767
Allowance to loans at end of period				3.09		%			3.25			%		2.75		%			1.99			%
Restructured loans (accruing)		$		57,433			$		16,061				$	14,789				$	3,309
Nonperforming loans		$		97,876			$		153,981				$	126,758				$	109,381
Other real estate owned				25,385					26,819					23,259					12,684

Nonperforming assets		$		123,261			$		180,800				$	150,017				$	122,065

Nonperforming assets to loans and other real estate owned at end of
period				8.66		%			11.80			%		9.33		%			7.42			%
Nonperforming assets to total assets				5.72					8.45					6.86					5.29
Nonaccrual loans and accruing loans 90 days or more past due to loans
outstanding at end of period				7.01					10.23					8.09					6.97
Per Share Common Stock
Net loss diluted-GAAP basis		$		(0.69	)		$		(1.21	)			$	(3.35	)			$	(0.30	)			$	(4.68	)
Net loss basic-GAAP basis				(0.69	)				(1.21	)				(3.35	)				(0.30	)				(4.68	)
Cash dividends declared				0.00					0.00					0.00					0.01					0.01
Book value per share common				1.85					2.57					8.03					8.86
Average Balances
Total assets		$		2,189,699			$		2,142,228		$			2,258,792			$		2,313,125
Less: intangible assets				4,274					4,590					54,717					55,033

Total average tangible assets		$		2,185,425			$		2,137,638		$			2,204,075			$		2,258,092

Total equity		$		179,093			$		187,057				$	210,997				$	218,609
Less: intangible assets				4,274					4,590					54,717					55,033

Total average tangible equity		$		174,819			$		182,467				$	156,280				$	163,576

(2)

These ratios are stated on an annualized basis and are not necessarily indicative of future periods.

(3)

The calculations of ROA and ROE do not include the mark-to-market unrealized gains (losses) because the unrealized gains (losses) on available for sale securities are not included in net income (loss).

(4)

December 31,

December 31,

SECURITIES

2009

2008

U.S. Treasury and U.S. Government Agencies

3,688

22,380

Mortgage-backed

384,864

290,423

Obligations of states and political subdivisions

2,063

2,070

Other securities

3,033

3,157

Securities Available for Sale

393,648

318,030

Mortgage-backed

12,853

22,248

Obligations of states and political subdivisions

4,234

5,623

Securities Held for Investment

17,087

27,871

Total Securities

410,735

345,901

December 31,

December 31,

LOANS

2009

2008

Construction and land development

162,868

395,243

Real estate mortgage

1,109,077

1,125,465

Installment loans to individuals

64,024

72,908

Commercial and financial

61,058

82,765

Other loans

476

347

Total Loans

1,397,503

1,676,728


	2009														2008
	Fourth Quarter					Third Quarter									Fourth Quarter

	Average			Yield/				Average			Yield/				Average			Yield/
(Dollars in thousands)	Balance			Rate				Balance			Rate				Balance			Rate

Assets
Earning assets:
Securities:
Taxable	$	368,830			4.19		%	$	348,770			4.90		%	$	299,410			4.89	%
Nontaxable		6,393			6.76				6,742			6.59				7,886			5.93

Total Securities		375,223			4.23				355,512			4.93				307,296			4.92
Federal funds sold and other
investments		211,685			0.45				97,215			0.67				55,101			1.09
Loans, net		1,478,126			5.18				1,571,186			5.26				1,737,896			5.68

Total Earning Assets		2,065,034			4.51				2,023,913			4.98				2,100,293			5.45
Allowance for loan losses		(41,662	)						(43,124	)						(31,489	)
Cash and due from banks		34,553							28,614							36,743
Premises and equipment		41,872							42,636							44,121
Other assets		89,902							90,189							105,368

	$	2,189,699				$			2,142,228				$			2,255,036

Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
NOW	$	53,109			0.52		%	$	50,662			0.51		%	$	56,161			1.23	%
Savings deposits		101,005			0.24				102,429			0.28				99,155			0.64
Money market accounts		654,250			0.68				618,240			0.64				670,094			1.69
Time deposits		710,955			2.20				692,616			2.45				737,906			3.59
Federal funds purchased and other short term borrowings		92,466			0.25				82,264			0.33				88,253			0.83
Other borrowings		110,479			2.64				118,745			2.71				118,697			4.01

Total Interest-Bearing Liabilities		1,722,264			1.38				1,668,956			1.50				1,770,266			2.52
Demand deposits (noninterest-bearing)		275,589							273,972							276,759
Other liabilities		12,753							12,243							12,241

Total Liabilities		2,010,606							1,955,171							2,059,266
Shareholders’ equity		179,093							187,057							195,770

	$	2,189,699				$			2,142,228				$			2,255,036

Interest expense as a % of earning assets					1.15		%					1.23		%					2.12	%
Net interest income as a % of earning assets					3.37							3.74							3.32

(1) On a fully taxable equivalent basis. All yields and rates have been computed on an annualized basis using amortized cost. Fees on loans have been included in interest on loans. Nonaccrual loans are included in loan balances.


QUARTERLY TRENDS – LOANS AT END OF PERIOD
(Dollars in Millions)		(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
						2008
				1st Qtr		2nd Qtr		3rd Qtr		4th Qtr

Construction and Land Development
Residential:
Condominiums			>$4 million	$	30.6	$	26.3	$	19.6	$	8.6
			<$4 million		26.6		21.1		13.0		8.8
Town homes			>$4 million		19.4		17.1		17.1		-
			<$4 million		4.4		2.9		4.6		6.1
Single Family
Residences			>$4 million		20.8		21.2		13.5		11.9
			<$4 million		35.9		28.3		23.7		14.9
Single Family
Land & Lots			>$4 million		85.1		64.3		40.3		22.1
			<$4 million		27.0		30.8		29.9		30.7
Multifamily			>$4 million		7.8		7.8		7.8		7.8
			<$4 million		24.8		26.2		22.9		19.0

	TOTAL		>$4 million		163.7		136.7		98.3		50.4
	TOTAL		<$4 million		118.7		109.3		94.1		79.5
GRAND TOTAL				$	282.4	$	246.0	$	192.4	$	129.9


QUARTERLY TRENDS – LOANS AT END OF PERIOD
(Dollars in Millions)		(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
						2009						Nonperforming
				1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		4th Qtr		Number

Construction and Land Development
Residential:
Condominiums			>$4 million	$	8.4	$	7.9	$	5.3	$	-	$	-		-
			<$4 million		7.9		8.8		3.7		6.1		6.1		3
Town homes			>$4 million		-		-		-		-		-		-
			<$4 million		4.2		2.3		—		—		—		—
Single Family
Residences			>$4 million		6.6		6.5		-		-		-		-
			<$4 million		13.9		10.3		7.1		4.1		0.9		7
Single Family
Land & Lots			>$4 million		21.8		21.8		5.9		5.9		5.9		1
			<$4 million		29.6		21.5		19.5		16.6		5.6		18
Multifamily			>$4 million		7.8		7.8		6.6		6.6		6.6		1
			<$4 million		17.0		9.8		9.5		8.3		3.0		4

	TOTAL		>$4 million		44.6		44.0		17.8		12.5		12.5		2
	TOTAL		<$4 million		72.6		52.7		39.8		35.1		15.6		32
GRAND TOTAL				$	117.2	$	96.7	$	57.6	$	47.6	$	28.1		34


	2007		2008
	4th Qtr		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr

Construction and land development
Residential
Condominiums	$	60.2	$	57.2	$	47.4	$	32.6	$	17.4
Townhomes		25.0		23.8		20.0		21.7		6.1
Single family residences		59.0		56.7		49.5		37.2		26.8
Single family land and lots		116.4		112.1		95.1		70.2		52.8
Multifamily		34.5		32.6		34.0		30.7		26.8

		295.1		282.4		246.0		192.4		129.9
Commercial
Office buildings		30.9		29.1		31.1		27.8		17.3
Retail trade		69.0		60.4		63.6		68.5		68.7
Land		82.6		92.5		75.4		73.9		73.3
Industrial		13.0		16.9		20.8		20.7		13.3
Healthcare		1.0		1.0		1.0		—		—
Churches and educational facilities		—		—		0.1		—		—
Lodging		11.2		—		—		—		—
Convenience stores		1.7		1.8		—		—		—
Marina		23.1		26.8		28.9		30.5		30.7
Other		9.9		11.3		6.3		5.4		6.0

		242.4		239.8		227.2		226.8		209.3
Individuals
Lot loans		39.4		39.4		40.0		38.4		35.7
Construction		32.7		32.4		27.1		27.4		20.3

		72.1		71.8		67.1		65.8		56.0

Total construction and land development		609.6		594.0		540.3		485.0		395.2
Real estate mortgages
Residential real estate
Adjustable		319.5		317.6		318.8		316.5		329.0
Fixed rate		87.5		89.1		90.2		93.4		95.5
Home equity mortgages		91.4		91.7		93.1		84.3		84.8
Home equity lines		59.1		56.3		59.4		59.7		58.5

		557.5		554.7		561.5		553.9		567.8
Commercial real estate
Office buildings		131.7		144.3		142.3		143.6		146.4
Retail trade		76.2		83.8		93.5		101.6		111.9
Land		5.3		—		—		0.6		—
Industrial		105.5		104.3		93.3		92.2		94.7
Healthcare		32.4		39.9		33.6		31.6		29.2
Churches and educational facilities		40.2		40.2		36.5		35.6		35.2
Recreation		3.0		2.8		1.8		1.8		1.7
Multifamily		13.8		20.0		19.1		19.2		27.2
Mobile home parks		3.9		3.2		3.1		3.1		3.0
Lodging		22.7		27.9		28.0		26.7		26.6
Restaurant		8.2		8.0		9.0		8.6		6.2
Agricultural		12.9		12.4		9.0		8.7		8.5
Convenience stores		23.2		23.1		24.9		23.6		23.5
Other		38.3		40.1		41.6		42.5		43.6

		517.3		550.0		535.7		539.4		557.7

Total real estate mortgages		1,074.8		1,104.7		1,097.2		1,093.3		1,125.5
Commercial & financial		126.7		93.9		94.8		88.5		82.8
Installment loans to individuals
Automobile and trucks		25.0		24.1		23.0		21.9		20.8
Marine loans		33.2		33.3		25.2		26.0		26.0
Other		28.2		27.5		27.9		27.4		26.1

		86.4		84.9		76.1		75.3		72.9
Other		0.9		0.5		0.4		0.5		0.3

	$	1,898.4	$	1,878.0	$	1,808.8	$	1,742.6	$	1,676.7


	2009
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr

Construction and land development
Residential
Condominiums	$	16.3	$	16.8	$	9.0	$	6.1
Townhomes		4.2		2.3		—		—
Single family residences		20.5		16.7		7.1		4.1
Single family land and lots		51.4		43.3		25.4		22.6
Multifamily		24.8		17.6		16.1		14.8

		117.2		96.7		57.6		47.6
Commercial
Office buildings		17.4		13.8		13.8		13.9
Retail trade		70.0		55.9		23.0		3.9
Land		60.9		51.2		50.8		45.6
Industrial		9.0		8.5		8.2		2.5
Healthcare		5.7		6.0		4.8		4.8
Churches and educational facilities		—		—		—		—
Lodging		0.6		—		—		—
Convenience stores		—		—		—		—
Marina		31.6		30.0		28.1		6.8
Other		6.2		1.4		—		—

		201.4		166.8		128.7		77.5
Individuals
Lot loans		34.0		32.4		30.7		29.3
Construction		16.2		11.8		11.1		8.5

		50.2		44.2		41.8		37.8

Total construction and land development		368.8		307.7		228.1		162.9
Real estate mortgages
Residential real estate
Adjustable		333.1		328.0		325.9		289.4
Fixed rate		90.8		90.6		89.5		88.6
Home equity mortgages		85.5		83.8		83.9		86.8
Home equity lines		60.3		60.1		59.7		60.1

		569.7		562.5		559.0		524.9
Commercial real estate
Office buildings		140.6		141.6		144.2		132.3
Retail trade		109.1		120.0		151.4		164.6
Land		—		—		—		—
Industrial		95.3		93.0		89.3		88.4
Healthcare		28.3		30.9		25.4		24.7
Churches and educational facilities		34.8		34.6		30.8		29.6
Recreation		1.7		1.4		3.3		3.0
Multifamily		27.2		31.7		35.1		29.7
Mobile home parks		3.0		5.6		5.6		5.4
Lodging		26.3		26.3		25.6		25.5
Restaurant		6.1		5.1		5.0		4.7
Agricultural		8.2		11.8		12.0		11.7
Convenience stores		23.3		23.2		22.8		22.1
Other		43.0		47.6		34.0		42.4

		546.9		572.8		584.5		584.1

Total real estate mortgages		1,116.6		1,135.3		1,143.5		1,109.0
Commercial & financial		75.5		71.8		66.0		61.1
Installment loans to individuals
Automobile and trucks		19.4		18.0		16.6		15.3
Marine loans		26.3		26.9		26.8		26.4
Other		25.7		24.3		23.3		22.3

		71.4		69.2		66.7		64.0
Other		0.3		0.3		0.3		0.5

	$	1,632.6	$	1,584.3	$	1,504.6	$	1,397.5


	2007			2008
	4th Qtr			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr

Construction and land development
Residential
Condominiums	$	(12.3	)	$	(3.0	)	$	(9.8	)	$	(14.8	)	$	(15.2	)
Townhomes		—			(1.2	)		(3.8	)		1.7			(15.6	)
Single family residences		(4.9	)		(2.3	)		(7.2	)		(12.3	)		(10.4	)
Single family land and lots		(12.0	)		(4.3	)		(17.0	)		(24.9	)		(17.4	)
Multifamily		0.7			(1.9	)		1.4			(3.3	)		(3.9	)

		(28.5	)		(12.7	)		(36.4	)		(53.6	)		(62.5	)
Commercial
Office buildings		8.5			(1.8	)		2.0			(3.3	)		(10.5	)
Retail trade		18.8			(8.6	)		3.2			4.9			0.2
Land		(3.6	)		9.9			(17.1	)		(1.5	)		(0.6	)
Industrial		(3.9	)		3.9			3.9			(0.1	)		(7.4	)
Healthcare		—			—			—			(1.0	)		—
Churches and educational facilities		(1.9	)		—			0.1			(0.1	)		—
Lodging		—			(11.2	)		—			—			—
Convenience stores		0.3			0.1			(1.8	)		—			—
Marina		1.2			3.7			2.1			1.6			0.2
Other		1.3			1.4			(5.0	)		(0.9	)		0.6

		20.7			(2.6	)		(12.6	)		(0.4	)		(17.5	)
Individuals
Lot loans		(1.3	)		—			0.6			(1.6	)		(2.7	)
Construction		(8.3	)		(0.3	)		(5.3	)		0.3			(7.1	)

		(9.6	)		(0.3	)		(4.7	)		(1.3	)		(9.8	)

Total construction and land development		(17.4	)		(15.6	)		(53.7	)		(55.3	)		(89.8	)
Real estate mortgages
Residential real estate
Adjustable		6.5			(1.9	)		1.2			(2.3	)		12.5
Fixed rate		(0.6	)		1.6			1.1			3.2			2.1
Home equity mortgages		0.6			0.3			1.4			(8.8	)		0.5
Home equity lines		4.0			(2.8	)		3.1			0.3			(1.2	)

		10.5			(2.8	)		6.8			(7.6	)		13.9
Commercial real estate
Office buildings		6.1			12.6			(2.0	)		1.3			2.8
Retail trade		1.3			7.6			9.7			8.1			10.3
Land		2.7			(5.3	)		—			0.6			(0.6	)
Industrial		5.3			(1.2	)		(11.0	)		(1.1	)		2.5
Healthcare		(0.8	)		7.5			(6.3	)		(2.0	)		(2.4	)
Churches and educational facilities		4.2			—			(3.7	)		(0.9	)		(0.4	)
Recreation		(1.7	)		(0.2	)		(1.0	)		—			(0.1	)
Multifamily		2.5			6.2			(0.9	)		0.1			8.0
Mobile home parks		(0.1	)		(0.7	)		(0.1	)		—			(0.1	)
Lodging		0.4			5.2			0.1			(1.3	)		(0.1	)
Restaurant		1.0			(0.2	)		1.0			(0.4	)		(2.4	)
Agricultural		(6.7	)		(0.5	)		(3.4	)		(0.3	)		(0.2	)
Convenience stores		(0.3	)		(0.1	)		1.8			(1.3	)		(0.1	)
Other		(1.4	)		1.8			1.5			0.9			1.1

		12.5			32.7			(14.3	)		3.7			18.3

Total real estate mortgages		23.0			29.9			(7.5	)		(3.9	)		32.2
Commercial & financial		(8.4	)		(32.8	)		0.9			(6.3	)		(5.7	)
Installment loans to individuals
Automobile and trucks		0.2			(0.9	)		(1.1	)		(1.1	)		(1.1	)
Marine loans		8.4			0.1			(8.1	)		0.8			—
Other		(0.8	)		(0.7	)		0.4			(0.5	)		(1.3	)

		7.8			(1.5	)		(8.8	)		(0.8	)		(2.4	)
Other		0.3			(0.4	)		(0.1	)		0.1			(0.2	)

	$	5.3		$	(20.4	)	$	(69.2	)	$	(66.2	)	$	(65.9	)


	2009
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr

Construction and land development
Residential
Condominiums	$	(1.1	)	$	0.5		$	(7.8	)	$	(2.9	)
Townhomes		(1.9	)		(1.9	)		(2.3	)		—
Single family residences		(6.3	)		(3.8	)		(9.6	)		(3.0	)
Single family land and lots		(1.4	)		(8.1	)		(17.9	)		(2.8	)
Multifamily		(2.0	)		(7.2	)		(1.5	)		(1.3	)

		(12.7	)		(20.5	)		(39.1	)		(10.0	)
Commercial
Office buildings		0.1			(3.6	)		—			0.1
Retail trade		1.3			(14.1	)		(32.9	)		(19.1	)
Land		(12.4	)		(9.7	)		(0.4	)		(5.2	)
Industrial		(4.3	)		(0.5	)		(0.3	)		(5.7	)
Healthcare		5.7			0.3			(1.2	)		—
Churches and educational facilities		—			—			—			—
Lodging		0.6			(0.6	)		—			—
Convenience stores		—			—			—			—
Marina		0.9			(1.6	)		(1.9	)		(21.3	)
Other		0.2			(4.8	)		(1.4	)		—

		(7.9	)		(34.6	)		(38.1	)		(51.2	)
Individuals
Lot loans		(1.7	)		(1.6	)		(1.7	)		(1.4	)
Construction		(4.1	)		(4.4	)		(0.7	)		(2.6	)

		(5.8	)		(6.0	)		(2.4	)		(4.0	)

Total construction and land development		(26.4	)		(61.1	)		(79.6	)		(65.2	)
Real estate mortgages
Residential real estate
Adjustable		4.1			(5.1	)		(2.1	)		(36.5	)
Fixed rate		(4.7	)		(0.2	)		(1.1	)		(0.9	)
Home equity mortgages		0.7			(1.7	)		0.1			2.9
Home equity lines		1.8			(0.2	)		(0.4	)		0.4

		1.9			(7.2	)		(3.5	)		(34.1	)
Commercial real estate
Office buildings		(5.8	)		1.0			2.6			(11.9	)
Retail trade		(2.8	)		10.9			31.4			13.2
Land		—			—			—			—
Industrial		0.6			(2.3	)		(3.7	)		(0.9	)
Healthcare		(0.9	)		2.6			(5.5	)		(0.7	)
Churches and educational facilities		(0.4	)		(0.2	)		(3.8	)		(1.2	)
Recreation		—			(0.3	)		1.9			(0.3	)
Multifamily		—			4.5			3.4			(5.4	)
Mobile home parks		—			2.6			—			(0.2	)
Lodging		(0.3	)		—			(0.7	)		(0.1	)
Restaurant		(0.1	)		(1.0	)		(0.1	)		(0.3	)
Agricultural		(0.3	)		3.6			0.2			(0.3	)
Convenience stores		(0.2	)		(0.1	)		(0.4	)		(0.7	)
Other		(0.6	)		4.6			(13.6	)		8.4

		(10.8	)		25.9			11.7			(0.4	)

Total real estate mortgages		(8.9	)		18.7			8.2			(34.5	)
Commercial & financial		(7.3	)		(3.7	)		(5.8	)		(4.9	)
Installment loans to individuals
Automobile and trucks		(1.4	)		(1.4	)		(1.4	)		(1.3	)
Marine loans		0.3			0.6			(0.1	)		(0.4	)
Other		(0.4	)		(1.4	)		(1.0	)		(1.0	)

		(1.5	)		(2.2	)		(2.5	)		(2.7	)
Other		—			—			—			0.2

	$	(44.1	)	$	(48.3	)	$	(79.7	)	$	(107.1	)


							Restructured
	Nonaccrual Loans						Loans (Accruing)
Dollars in thousands	Non Current		Current*		Total

Construction and land development
Residential	$	14,638	$	13,387	$	28,025	$	4,867
Commercial		30,013		0		30,013		0
Individual		1,515		256		1,771		1,056
Residential Mortgage		8,944		3,846		12,790		9,833
Commercial Real Estate Mortgage		13,503		10,361		23,864		40,678
Commercial and Financial		210		326		536		0
Installment loans to individuals		877		0		877		999
TOTAL	$	69,700	$	28,176	$	97,876	$	57,433


Construction
and Land																Dec. 31,
Development Loans				Dec. 30, 2008			Mar. 31, 2009		June 30, 2009				Sept. 30, 2009			2009
Dollars in millions	High Point
Residential	$	351.6	3/31/2007	$	129.9			$117.2		$	96.7		$	57.6		$	47.6
Commercial		242.4	12/31/2007		209.3			201.4			166.8			128.7			77.5
Individuals		91.3	12/31/2006		56.0			50.2			44.2			41.8			37.8
TOTAL		627.0	9/30/2007	$	395.2			$368.8		$	307.7		$	228.1		$	162.9

Total as a percentage
of total loans					23.6	%		22.6%			19.4	%		15.2	%		11.7	%
Total as a percentage
of tier 1 risk-based
capital and
Allowance for loan
Losses					164.7	%		154.5%			133.6	%		83.6	%		67.8	%