Cash, Dividend and Loan Restrictions

12 Months Ended

Dec. 31, 2018

Cash, Dividend and Loan Restrictions [Abstract]

Cash, Dividend and Loan Restrictions

Cash, Dividend and Loan Restrictions

In the normal course of business, the Company and Seacoast Bank enter into agreements, or are subject to regulatory agreements that result in cash, debt and dividend restrictions. A summary of the most restrictive items follows:

Seacoast Bank may be required to maintain average reserve balances with the Federal Reserve Bank; the average amount of those reserve balances was $0.9 million for 2018 and $0.5 million for 2017.

Under Federal Reserve regulation, Seacoast Bank is limited as to the amount it may loan to its affiliates, including the Company, unless such loans are collateralized by specified obligations. At December 31, 2018, the maximum amount available for transfer from Seacoast Bank to the Company in the form of loans approximated $82.4 million, if the Company has sufficient acceptable collateral. There were no loans made to affiliates during the periods ending December 31, 2018 and 2017.