Current Report Filing (8-k)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported) October 22, 2015

SEACOAST BANKING CORPORATION OF FLORIDA

(Exact Name of Registrant as Specified in Charter)

Florida

0-13660

59-2260678

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number

(IRS Employer

Identification No.)

815 Colorado Avenue, Stuart, FL		34994
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code (772) 287-4000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.)

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

SEACOAST BANKING CORPORATION OF FLORIDA

Item 2.02

Results of Operations and Financial Condition

On October 22, 2015, Seacoast Banking Corporation of Florida (“Seacoast” or the “Company”) announced its financial results for the third quarter ended September 30, 2015.

A copy of the press release announcing Seacoast’s results for the third quarter ended September 30, 2015 is attached hereto as Exhibit 99.1 and incorporated herein by reference.

Item 7.01

Regulation FD Disclosure

On October 23, 2015, Seacoast held an investor conference call to discuss its financial results for the third quarter ended September 30, 2015. A transcript of this conference call is attached hereto as Exhibit 99.2 and incorporated herein by reference. Also attached as Exhibit 99.3 are charts (available on the Company’s website at www.seacoastbanking.com) containing information used in the conference call and incorporated herein by reference. All information included in the transcript and the charts is presented as of September 30, 2015, and the Company does not assume any obligation to correct or update said information in the future.

The information in Items 2.02 and 7.01, as well as Exhibits 99.1, 99.2 and 99.3, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.

Item 9.01

Financial Statements and Exhibits

(d) Exhibits

Exhibit No.		Description

99.1		Press Release dated October 22, 2015 with respect to Seacoast’s financial results for the third quarter ended September 30, 2015

99.2		Transcript of Seacoast’s investor conference call held on October 23, 2015 to discuss the Company’s financial results for the third quarter ended September 30, 2015

99.3		Data on website containing information used in the conference call held on October 23, 2015

Exhibits 99.1, 99.2 and 99.3 referenced herein contain “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, 2014 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.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SEACOAST BANKING CORPORATION OF FLORIDA
	(Registrant)

Date: October 27, 2015	By:	/s/ Stephen A. Fowle
		Stephen A. Fowle
		Executive Vice President & Chief Financial Officer

EXHIBIT INDEX

Exhibit No.		Description

99.1		Press Release dated October 22, 2015 with respect to Seacoast’s financial results for the third quarter ended September 30, 2015

99.2		Transcript of Seacoast’s investor conference call held on October 23, 2015 to discuss the Company’s financial results for the third quarter ended September 30, 2015

99.3		Data on website containing information used in the conference call held on October 23, 2015

Exhibit 99.1

	CONTACTS:
	Stephen Fowle, EVP and CFO
	(772) 463-8977
	steve.fowle@seacoastbank.com

Seacoast Q3 Net Income Rises More Than 48% Year-over-Year to $4.4 Million

Revenue Growth Propels Adjusted Net Income Up 96% to $6.4 million, Adjusted Diluted Earnings Per Common Share Increases 46% to $0.19

Third Quarter 2015 Earnings Highlights

Revenues increased $2.6 million to a record $37.1 million, or 7.5% compared to Q2 2015, and $13.7 million, or 59% compared to Q3 2014.

Net interest margin increased 58 basis points year-over-year to 3.75% and net interest income improved $11.8 million or 69%, reflecting organic growth and acquisition activity.

Adjusted net income excluding merger costs and other adjustments¹ increased 96% to $6.4 million, or $ 0.19 per diluted share, compared to $3.3 million, or $0.13 per diluted share, in Q3 2014.

Third Quarter 2015 Growth Highlights

Loans increased $162 million or 8% compared to Q2 2015, and rose 51% year-over-year. Excluding acquisitions, loans increased $58 million or 3% compared to Q2 2015 and $227 million or 16% from Q3 2014.

Total households increased a strong 4% (not annualized) compared to Q2 2015 and 23% compared to Q3 2014. Excluding acquisition, household growth accelerated to 6% (annualized) over Q2 levels.

Seacoast closed the Grand Bankshares, Inc. acquisition and completed the conversion of Grand’s customers over the July 17 weekend, adding approximately $188 million in deposits and $112 million in gross loans in the attractive Palm Beach market with minimal customer attrition.

STUART, Fla., October 22, 2015 /PRNewswire/ — Seacoast Banking Corporation of Florida (NASDAQ: SBCF) today reported results for the third quarter of 2015. Third quarter revenue rose $2.6 million, or 7.5%, to $37.1 million compared to $34.5 million in the prior quarter. Net income increased $1.4 million, or 48%, to $4.4 million, compared to the third quarter of 2014, and adjusted net income¹ increased $3.1 million or 96% from year-ago levels. Diluted earnings per common share were $0.13 and adjusted diluted earnings per common share¹were $0.19 in the third quarter compared with $0.13 in the third quarter of 2014 and $0.19 in the second quarter of 2015.

¹Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures”

Net income improved 123% to $16.1 million, or $0.48 per diluted common share, for the first three quarters of 2015 from $7.2 million, or $0.28 per diluted common share, for the first three quarters of 2014.

Dennis S. Hudson, III, Chairman and CEO said, "We continue to build momentum, growing our top-line and improving earnings and profitability while investing for the future and managing risk. Our balanced expansion strategy, combining strong organic growth with strategic acquisitions in attractive Florida markets, positions Seacoast for continued success.”

"As we strengthen our franchise, we have invested for the future, especially in high quality employees. This quarter’s expenses reflect the first full quarter with our receivables funding team from First Growth Capital (FGC), nearly a full quarter of Grand Bankshares in Palm Beach, and new hires to support organic revenue initiatives,” continued Hudson. “We look forward to considerable positive impact from these investments in succeeding quarters.”

"In addition to successfully integrating Palm Beach-based Grand Bankshares during the third quarter,” Hudson said, “we recently announced an agreement to purchase BMO Harris Bank’s Orlando banking franchise, including retail and business banking employees and customers. This acquisition builds on our 2014 acquisition of BankFIRST and makes us a Top-10 bank in the attractive Orlando market, adding nearly 8,500 additional households. We look forward to welcoming these customers in early 2016.”

FINANCIAL HIGHLIGHTS (Dollars in thousands except per share data)	3Q15			2Q15			1Q15			4Q14			3Q14

Total Assets	$	3,378,108		$	3,233,588		$	3,231,956		$	3,093,335		$	2,361,813

Loans		2,099,447			1,937,399			1,854,487			1,821,885			1,391,082

Deposits		2,742,296			2,605,177			2,609,825			2,416,534			1,808,550

Net Income (Loss) Available to Common Shareholders		4,441			5,805			5,859			(1,517	)		2,996

Diluted Earnings Per Share		0.13			0.18			0.18			(0.05	)		0.12

Return on Average Assets		0.52	%		0.72	%		0.75	%		(0.20	%)		0.52	%

Net Interest Margin		3.75			3.50			3.62			3.56			3.17
Efficiency Ratio		76.3			68.6			68.3			104.5			82.8

Pretax, Pre-provision Income (1)	$	8,126		$	10,224		$	9,832		($	2,029	)	$	3,832

Average Diluted Shares Outstanding (000)		34,194			33,234			33,136			33,124			26,026
Adjusted Net Income (1)	$	6,433		$	6,172		$	6,177		$	4,179		$	3,286
Adjusted Diluted Earnings Per Share (1)		0.19			0.19			0.19			0.13			0.13

Adjusted Return on Average Assets (1)		0.76	%		0.77	%		0.79	%		0.55	%		0.57	%

Adjusted Efficiency Ratio (1)		68.2			67.5			67.5			74.8			79.6
Adjusted Pretax, Pre-provision Income (1)	$	11,328		$	10,815		$	10,342		$	7,464		$	4,341

Annualized Adjusted Core Operating Expenses as a Percent of Average Assets (1)		3.03	%		2.91	%		2.88	%		3.13	%		3.21	%

Acquisitions Update

Hudson noted that, “Seacoast continued to benefit from acquisitions integrated during the last four quarters. Our acquisition of Grand Bankshares on July 17 doubled our existing share in the attractive Palm Beach County market and made us the third-largest Florida-based bank doing business there.”

Nearly a year after completing our acquisition, customer metrics for Winter Park-based BankFIRST are extremely encouraging. Household growth for former BankFIRST customers was 7.5% annualized and cross-sell, the number of products used by each household, increased at a 9.4% annualized rate.

Florida Economic Update

"We continue to enjoy the tailwinds of a strong regional economy, with data showing that Florida is significantly outperforming the nation," said Hudson.

Wells Fargo’s Economics Group, in its report titled “Florida’s Economy Continues to See Solid Job Gains” stated, “On a year-over-year basis, nonfarm employment has risen a solid 3.3 percent throughout Florida, reflecting an increase of 261,500 jobs. The nation as a whole reported a gain of 2.1 percent over the year. Florida’s year-to-year job gains have exceeded the nation every month since April 2012.” The report noted that Florida’s unemployment rate dropped 0.2 percentage points to 5.3% in August with the steepest declines in areas hard hit by the housing slump and now recovering nicely.

The future also looks promising. In its “Southeast Florida 3^rd Quarter 2015 Market Outlook”, PNC Financial Services Group stated that, “…Southeast Florida’s economy will be an above-average performer in 2015 and 2016. A strengthening global economy will sustain trade and investment while rising real disposable income nationally will boost tourism.” The article continued, “Longer term, strong population growth, well-developed infrastructure and deep international linkages will give the region a higher trend rate of economic growth.”

Income Statement Highlights

Core Loan Growth and Acquisition Fuel Net Interest Income and Margin Expansion

Net interest income for the quarter totaled $29.0 million, an $11.8 million or 68% increase from third quarter 2014 levels. Net interest margin expanded to 3.75%, a 58 basis point, or an 18% increase from the prior year. Year-over-year net interest income and margin increases reflect acquisition activity, core deposit and loan growth, and the strategic investment of excess liquidity.

Net interest income increased $3.3 million or 13% and net interest margin expanded 25 basis points or 7% from 3.50% in the prior quarter. Linked quarter results reflect an improved balance sheet mix and acquisition activity. In addition, net interest income benefited from excess purchased loan accretion recognized from early loan payoffs, contributing approximately 10 basis points in margin to the quarter.

Noninterest Income

Noninterest income excluding security gains, totaled $8.1 million for the third quarter, an increase of $1.9 million or 31% from a year ago. Year-over-year growth in all categories of service fee income reflects strength in customer acquisition and cross sell, as well as benefits from acquisition activity.

Noninterest income declined from the prior quarter’s $8.8 million, the result of a $725,000 gain on a participated loan included in noninterest income in the second quarter. Excluding the gain on the participated loan, noninterest income was down slightly. A strong quarter for mortgage banking fees and wealth management was offset by seasonal volatility in marine lending fees.

Noninterest Expense Increases from Acquisition and Investments in Franchise

Noninterest expense increased $9.2 million or 46% from the third quarter 2014. Year-over-year expense increases reflect the acquisitions of The BANKshares, FGC and Grand Bankshares, merger related expenses and other one-time expenses totaling $3.0 million in the third quarter compared to $0.6 million in the prior year, and additional investments to promote organic growth.

Noninterest expense increased $4.8 million or 20% from the prior quarter. Excluding merger related charges and other one-time items, noninterest expenses grew $2.1 million or 9%. A significant amount of this increase is related to nearly a full quarter’s operating expense impact from the Grand Bankshares acquisition. Other areas of investment in the franchise include: a full quarter’s expense related to the acquisition of FGC during the second quarter 2015 which contributed approximately $309,000 in additional expense, production-driven commission and incentive expense which added approximately $352,000, core legal and professional fees that typically vary from quarter to quarter totaling $396,000, and marketing expense focused on customer acquisition and corporate brand awareness surrounding the Grand Bankshares Palm Beach footprint which contributed $133,000 to the increase.

Seacoast’s efficiency ratio was 76.3%, improving from 82.8% in the prior year. This decrease is related to improved operating leverage, as strong revenue growth outpaced expenses offset by a significant amount of merger related costs. Seacoast’s adjusted efficiency ratio¹ was 68.2%, a 14% improvement from the 79.6% one year ago and a slight increase from 67.5% in the second quarter 2015.

Balance Sheet Highlights

Deposit Growth Reflects Success of Core Customer Increase and Acquisitions

Total deposits increased 51.6% to $2.74 billion at September 30, 2015, from year ago levels. Core customer funding increased to $2.58 billion at September 30, 2015, an $898.2 million increase from the third quarter of 2014. Excluding acquisitions, core customer funding increased by $292.6 million or 17.4% from one year ago and total deposits increased $229.0 million or 12.7% from one year ago. Excluding Grand Bankshares, core customer funding decreased $45.5 million compared to the prior quarter, entirely due to seasonal declines in public funds.

Noninterest demand deposits grew $61.4 million, or 7.6% from the second quarter and $347.9 million or 66.6% from the third quarter of 2014. Noninterest demand deposits increased to 31.7% of total deposits, up from 28.9% one year ago.

¹Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures”

(Dollars in thousands)	Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014
Customer Relationship Funding
Noninterest demand	$	869,877		$	808,429		$	793,336		$	725,238		$	522,001
Interest-bearing demand		618,344			599,268			634,854			652,353			479,827
Money market		660,632			621,973			596,600			450,172			344,726
Savings		286,810			282,588			272,963			264,738			215,076
Time certificates of deposit		306,633			292,919			312,072			324,033			246,920
Total deposits		2,742,296			2,605,177			2,609,825			2,416,534			1,808,550
Customer sweep accounts		148,607			157,676			170,023			153,640			124,436
Total core customer funding (1)	$	2,584,270		$	2,469,934		$	2,467,776		$	2,246,141		$	1,686,066
Demand deposit mix (noninterest bearing)		31.7	%		31.0	%		30.4	%		30.0	%		28.9	%

(1)

Total deposits and customer sweep accounts, excluding time certificates of deposit.

Loans Up Substantially from Acquisition and Strong Core Growth

Total loans were $2.10 billion at September 30, 2015, an increase of $708 million or 51% from a year ago. Excluding acquired loans, loans increased $227 million or 16% from the prior year’s third quarter.

Commercial loan originations for the quarter were $71.8 million with the commercial pipeline (in underwriting and approval or approved and not yet closed) totaling a strong $104.9 million at September 30, 2015 only slightly below second quarter levels and well in excess of recent history. Consumer loan and small business originations (inclusive of lines of credit) totaled $51.1 million in the third quarter of 2015 compared to $55.3 million in the second quarter and $24.5 million one year ago.

Along with this strong loan growth, the portfolio continued to build granularity, with solid industry diversification. The average commercial and small business loan originated in the first three quarters of 2015 totaled only $278,000.

Closed residential production totaled $74.0 million compared with $66.0 million a year ago, with a total residential pipeline of $38.0 million at September 30, 2015 versus a pipeline of $22.6 million one year ago.

(Dollars in thousands)	3Q 15		2Q 15		1Q15		4Q14		3Q14

Commercial pipeline	$	104,915	$	108,538	$	82,143	$	60,136	$	45,534
Commercial loans closed		71,823		85,815		61,357		94,719		72,630
Total Commercial loan originations and pipeline	$	176,738	$	194,353	$	143,500	$	154,855	$	118,164

Residential pipeline	$	37,958	$	53,902	$	48,485	$	21,351	$	22,588
Residential loans retained		36,027		45,596		23,951		31,598		31,781
Residential loans sold		37,996		36,182		31,896		26,336		34,228
Total Residential loan originations and pipeline	$	111,981	$	135,680	$	104,332	$	79,285	$	88,597

Other Highlights

Credit Quality Remains Stable with Growth Trends

The provision for loan losses increased to $987,000 for the third quarter of 2015, up from a $1.4 million recapture in the third quarter 2014 and a $132,000 or 15% increase from $855,000 recorded in the second quarter 2015. The third quarter provision is attributable to loan growth during the quarter and was also impacted by $655,000 related to a single purchased credit impaired loan performing below our initial expectations. The allowance for loan losses for non-acquired loans was 1.11% of total loans, compared to 1.10% in the second quarter 2015.

Additional highlights include:

Nonperforming loans to total loans outstanding at the end of the third quarter was 0.8%, down from 1.4% at September 30, 2014;

Nonperforming assets to total assets declined to 0.7%, compared to 1.0% a year ago.

Capital Ratios Continue to Improve from Earnings Momentum

Capital ratios remain healthy and well above regulatory requirements for well-capitalized institutions. The common equity tier 1 capital ratio (CET1) is estimated at 12.9% and the total capital ratio is estimated at 15.5% at September 30, 2015. The tier 1 leverage ratio is estimated at 10.6% at September 30, 2015 compared to 10.1% at June 30, 2015.

Tangible book value increased $0.31 per share to $9.18 and book value per share increased $0.36 to $10.20 at September 30, 2015, versus the prior quarter. Average tangible common equity to assets was a strong 9.40% for the third quarter 2015.

Conference Call Information

Seacoast will host a conference call on Friday, October 23, 2015 at 1:00 p.m. (Eastern Time) to discuss the earnings results. Investors may call in (toll-free) by dialing (888) 517-2513 (passcode: 7789246; host: Dennis S. Hudson). Slides will be used during the conference call and may be accessed at Seacoast's website at SeacoastBanking.com by selecting "Presentations" under the heading "Investor Services." A replay of the call will be available for one month, beginning late afternoon of October 23, by dialing (888) 843-7419 (domestic), using the passcode 7789246.

Alternatively, individuals may listen to the live webcast of the presentation by visiting Seacoast's website at SeacoastBanking.com. The link is located in the subsection "Presentations" under the heading "Investor Services." Beginning the afternoon of October 23, 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.

About Seacoast Banking Corporation of Florida (NASDAQ: SBCF)

Seacoast Banking Corporation of Florida is one of the largest community banks headquartered in Florida with approximately $3.4 billion in assets and $2.7 billion in deposits as of September 30, 2015. The Company provides integrated financial services including commercial and retail banking, wealth management, and mortgage services to customers through advanced banking solutions, 43 traditional branches of its locally-branded wholly-owned subsidiary bank, Seacoast Bank, and five commercial banking centers. Offices stretch from Ft. Lauderdale, Boca Raton and West Palm Beach north through the Space Coast of Florida, into Orlando and Central Florida, and west to Okeechobee and surrounding counties. More information about the Company is available at SeacoastBanking.com.

Sources:

https://www08.wellsfargomedia.com/downloads/pdf/com/insights/economics/regional-reports/FL_Employment_09182015.pdf

http://www.fsfoa.org/documents/PNCMarketOutlook.pdf

Cautionary Notice Regarding Forward-Looking Statements

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.

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, 2014, 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.

Explanation of Certain Unaudited Non-GAAP Financial Measures

This press release contains financial information determined by methods other than Generally Accepted Accounting Principles ("GAAP"). The financial highlights provide reconciliations between GAAP net income and adjusted net income, GAAP income and adjusted pretax, pre-provision income. Management uses these non-GAAP financial measures in its analysis of the Company's performance and believes these presentations provide useful supplemental information, and a clearer understanding of the Company's performance. The Company believes the non-GAAP measures enhance investors' understanding of the Company's business and performance. These measures are also useful in understanding performance trends and facilitate comparisons with the performance of other financial institutions. The limitations associated with operating measures are the risk that persons might disagree as to the appropriateness of items comprising these measures and that different companies might calculate these measures differently. The Company provides reconciliations between GAAP and these non-GAAP measures. These disclosures should not be considered an alternative to GAAP.

To better evaluate its earnings, the Company removes certain items to arrive at adjusted net income, adjusted pretax, pre-provision income and adjusted diluted earnings per share (non-GAAP measures) as detailed in the table below:

(Dollars in thousands except per share data)	Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014

Net income	$	4,441		$	5,805		$	5,859		$	(1,517	)	$	2,996

Severance		98			29			12			478			328

Merger related charges		2,692			337			275			2,722			399

Branch closure charges and costs related to expense initiatives		121			0			0			4,261			68

Marketing and brand refresh expense		0			0			0			697			0

Stock compensation expense and other incentive costs related to improved outlook		0			0			0			1,213			0

Security (gains)		(160	)		0			0			(108	)		(344	)

Miscellaneous losses (gains)		112			0			0			119			(45	)

Recovery of nonaccrual loan interest		0			0			0			0			(192	)

Net loss on OREO and repossessed assets		262			53			81			9			156

Asset dispositions expense		77			173			143			103			139

Effective tax rate on adjustments		(1,210	)		(225	)		(193	)		(3,798	)		(219	)

Adjusted Net Income (1)		6,433			6,172			6,177			4,179			3,286

Provision (recapture) for loan losses		987			855			433			118			(1,425	)

Income taxes		3,908			3,788			3,732			3,167			2,480

Adjusted pretax, pre-provision income (1)	$	11,328		$	10,815		$	10,342		$	7,464		$	4,341

Adjusted earnings per diluted share (1)	$	0.19		$	0.19		$	0.19		$	0.13		$	0.13

Average shares outstanding (000)		34,194			33,234			33,136			33,124			26,026

(1)

Non-GAAP measure

FINANCIAL HIGHLIGHTS	(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

(Dollars in thousands, except share data)	Three Months Ended									Nine Months Ended
	September 30,			June 30,			September 30,			September 30,			September 30,
	2015			2015			2014			2015			2014
Summary of Earnings
Net income	$	4,441		$	5,805		$	2,996		$	16,105		$	7,213
Net interest income (1)		29,130			25,788			17,282			80,752			50,338
Net interest margin (1), (2)		3.75			3.50			3.17			3.62			3.11
														.
Performance Ratios
Return on average assets-GAAP basis (2), (3)		0.52	%		0.72	%		0.52	%		0.66	%		0.42	%
Return on average shareholders' equity-GAAP basis (2), (3)		5.05			7.13			4.97			6.49			4.09
Return on average tangible shareholders' equity-GAAP basis (2), (3), (4)		5.94			8.20			5.19			7.50			4.31
Efficiency ratio (5)		76.29			68.57			82.78			71.23			85.49
Noninterest income to total revenue		21.79			25.63			26.30			23.16			25.97

Per Share Data
Net income diluted-GAAP basis	$	0.13		$	0.18		$	0.12		$	0.48		$	0.28
Net income basic-GAAP basis		0.13			0.18			0.12			0.48			0.28
Book value per share common		10.20			9.84			9.07			10.20			9.07
Tangible book value per share		9.18			8.87			9.06			9.18			9.06
Cash dividends declared		0.00			0.00			0.00			0.00			0.00

(1)

Calculated on a fully taxable equivalent basis using amortized cost.

(2)

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

(3)

The calculation 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.

(4)

The Company defines tangible common equity as total shareholder's equity less intangible assets.

(5)

Defined as (noninterest expense less foreclosed property expense and amortization of intangibles) divided by net operating revenue (net interest income on a fully taxable equivalent basis plus noninterest income excluding securities gains).

FINANCIAL HIGHLIGHTS

SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	September 30,			June 30,			September 30,
(Dollars in thousands, except share data)	2015			2015			2014

Selected Financial Data
Total assets	$	3,378,108		$	3,233,588		$	2,361,813
Securities available for sale (at fair value)		728,161			762,086			601,541
Securities held for investment (at amortized cost)		209,047			214,777			176,724
Net loans		2,080,119			1,918,608			1,373,511
Deposits		2,742,296			2,605,177			1,808,550
Total shareholders' equity		350,280			326,856			235,955

Average Balances (Year-to-Date)
Total average assets	$	3,250,855		$	3,188,334		$	2,299,291
Less: intangible assets		32,879			31,707			428
Total average tangible assets	$	3,217,976		$	3,156,627		$	2,298,863

Total average equity	$	331,966		$	323,359		$	235,837
Less: intangible assets		32,879			31,707			428
Total average tangible equity	$	299,087		$	291,652		$	235,409

Credit Analysis
Net charge-offs (recoveries) year-to-date - non-acquired loans	$	(854	)	$	(621	)	$	(1,107	)
Net charge-offs year-to-date - acquired loans		872			189			-
Total net charge-offs (recoveries) year-to-date	$	18		$	(432	)	$	(1,107	)

Net charge-offs (recoveries) to average loans (annualized) - non-acquired loans		(0.06	)%		(0.07	)%		(0.11	)%
Net charge-offs to average loans (annualized) - acquired loans		0.06			0.02			-
Total net charge-offs (recoveries) to average loans (annualized)		0.00			(0.05	)		(0.11	)

Loan loss provision (recapture) year-to-date - non-acquired loans	$	1,415		$	563		$	(3,604	)
Loan loss provision year-to-date - acquired loans		860			725			-
Total loan loss provision (recapture) year-to-date	$	2,275		$	1,288		$	(3,604	)

Allowance to loans at end of period - non-acquired loans		1.11	%		1.10	%		1.26	%
Discount to acquired loans at end of period		4.13			3.32			-

Nonperforming loans - non-acquired loans	$	14,474		$	15,054		$	18,942
Nonperforming loans - acquired loans		2,636			4,543			-
Other real estate owned - non-acquired		4,183			4,855			5,018
Other real estate owned - acquired		3,250			1,053			-
Total nonperforming assets	$	24,543		$	25,505		$	23,960

Restructured loans (accruing)	$	20,543		$	23,441		$	28,969

Purchased noncredit impaired loans	$	347,262		$	275,964		$	-
Purchased credit impaired loans		12,673			6,562			-
Total acquired loans	$	359,935		$	282,526		$	-

Nonperforming loans to loans at end of period - non-acquired loans		0.69	%		0.78	%		1.36	%
Nonperforming loans to loans at end of period - acquired loans		0.12			0.23			-
Total nonperforming loans to loans at end of period		0.81			1.01			1.36

Nonperforming assets to total assets - non-acquired		0.55	%		0.62	%		1.01	%
Nonperforming assets to total assets - acquired		0.18			0.17			-
Total nonperforming assets to total assets		0.73			0.79			1.01

CONDENSED CONSOLIDATED STATEMENTS OF INCOME	(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
(Dollars in thousands, except per share data)	2015		2014			2015		2014

Interest on securities:
Taxable	$	5,154	$	3,657		$	15,029	$	10,720
Nontaxable		144		8			441		29
Interest and fees on loans		25,276		14,615			69,285		42,516
Interest on federal funds sold and other investments		249		211			747		725
Total Interest Income		30,823		18,491			85,502		53,990

Interest on deposits		562		189			1,487		567
Interest on time certificates		295		370			963		1,163
Interest on borrowed money		955		704			2,665		2,086
Total Interest Expense		1,812		1,263			5,115		3,816

Net Interest Income		29,011		17,228			80,387		50,174
Provision (recapture) for loan losses		987		(1,425	)		2,275		(3,604	)
Net Interest Income After Provision for Loan Losses		28,024		18,653			78,112		53,778

Noninterest income:
Service charges on deposit accounts		2,217		1,753			6,334		4,744
Trust fees		781		817			2,341		2,191
Mortgage banking fees		1,177		825			3,297		2,341
Brokerage commissions and fees		604		408			1,621		1,197
Marine finance fees		258		281			947		875
Interchange income		1,925		1,452			5,695		4,369
Other deposit based EFT fees		88		70			298		251
BOLI income		366		0			1,030		0
Gain on participated loan		0		0			725		0
Other		666		543			1,948		1,635
		8,082		6,149			24,236		17,603
Securities gains, net		160		344			160		361
Total Noninterest Income		8,242		6,493			24,396		17,964

Noninterest expenses:
Salaries and wages		11,850		8,064			29,940		23,456
Employee benefits		2,430		2,049			7,386		6,312
Outsourced data processing costs		3,277		1,769			7,695		5,275
Telephone / data lines		446		313			1,385		912
Occupancy		2,396		1,879			6,430		5,605
Furniture and equipment		883		628			2,434		1,803
Marketing		1,099		925			3,300		2,413
Legal and professional fees		2,189		1,103			5,442		4,316
FDIC assessments		552		387			1,661		1,184
Amortization of intangibles		397		195			1,027		587
Asset dispositions expense		77		139			393		385
Net loss on other real estate owned and repossessed assets		262		156			396		301
Other		3,269		2,282			9,112		6,806
Total Noninterest Expenses		29,127		19,889			76,601		59,355

Income Before Income Taxes		7,139		5,257			25,907		12,387
Income taxes		2,698		2,261			9,802		5,174

Net Income	$	4,441	$	2,996		$	16,105	$	7,213

Per share of common stock:

Net income diluted	$	0.13	$	0.12		$	0.48	$	0.28
Net income basic		0.13		0.12			0.48		0.28
Cash dividends declared		0.00		0.00			0.00		0.00

Average diluted shares outstanding		34,193,540		26,025,693			33,524,718		25,894,881
Average basic shares outstanding		33,907,178		25,887,591			33,286,933		25,736,140

CONDENSED CONSOLIDATED STATEMENTS OF INCOME	(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	QUARTER
	2015						2014
(Dollars in thousands)	Third		Second		First		Fourth			Third

Interest on securities:
Taxable	$	5,154	$	4,977	$	4,898	$	4,728		$	3,657
Nontaxable		144		147		150		182			8
Interest and fees on loans		25,276		21,988		22,021		21,070			14,615
Interest on federal funds sold and other investments		249		249		249		292			211
Total Interest Income		30,823		27,361		27,318		26,272			18,491

Interest on deposits		562		524		401		297			189
Interest on time certificates		295		321		347		375			370
Interest on borrowed money		955		850		860		867			704
Total Interest Expense		1,812		1,695		1,608		1,539			1,263

Net Interest Income		29,011		25,666		25,710		24,733			17,228
Provision (recapture) for loan losses		987		855		433		118			(1,425	)
Net Interest Income After Provision for Loan Losses		28,024		24,811		25,277		24,615			18,653

Noninterest income:
Service charges on deposit accounts		2,217		2,115		2,002		2,208			1,753
Trust fees		781		759		801		795			817
Mortgage banking fees		1,177		1,032		1,088		716			825
Brokerage commissions and fees		604		576		441		417			408
Marine finance fees		258		492		197		445			281
Interchange income		1,925		2,033		1,737		1,603			1,452
Other deposit based EFT fees		88		96		114		92			70
BOLI income		366		334		330		252			0
Gain on participated loan		0		725		0		0			0
Other		666		684		598		613			543
		8,082		8,846		7,308		7,141			6,149
Securities gains, net		160		0		0		108			344
Total Noninterest Income		8,242		8,846		7,308		7,249			6,493

Noninterest expenses:
Salaries and wages		11,850		9,301		8,789		11,676			8,064
Employee benefits		2,430		2,541		2,415		2,461			2,049
Outsourced data processing costs		3,277		2,234		2,184		3,506			1,769
Telephone / data lines		446		443		496		419			313
Occupancy		2,396		2,011		2,023		2,325			1,879
Furniture and equipment		883		819		732		732			628
Marketing		1,099		1,226		975		1,163			925
Legal and professional fees		2,189		1,590		1,663		2,555			1,103
FDIC assessments		552		520		589		476			387
Amortization of intangibles		397		315		315		446			195
Asset dispositions expense		77		173		143		103			139
Branch closures and branding		0		0		0		4,958			0
Net loss on other real estate owned and repossessed assets		262		53		81		9			156
Other		3,269		3,062		2,781		3,182			2,282
Total Noninterest Expenses		29,127		24,288		23,186		34,011			19,889

Income Before Income Taxes		7,139		9,369		9,399		(2,147	)		5,257
Income taxes		2,698		3,564		3,540		(630	)		2,261

Net Income	$	4,441	$	5,805	$	5,859	$	(1,517	)	$	2,996

Per share of common stock:

Net income diluted	$	0.13	$	0.18	$	0.18	$	(0.05	)	$	0.12
Net income basic		0.13		0.18		0.18		(0.05	)		0.12
Cash dividends declared		0.00		0.00		0.00		0.00			0.00

Average diluted shares outstanding		34,193,540		33,233,508		33,135,618		33,123,525			26,025,693
Average basic shares outstanding		33,907,178		32,978,006		32,971,444		32,888,612			25,887,591

CONDENSED CONSOLIDATED BALANCE SHEETS	(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	September 30,			December 31,			September 30,
(Dollars in thousands, except share data)	2015			2014			2014

Assets
Cash and due from banks	$	69,650		$	64,411		$	39,934
Interest bearing deposits with other banks		30,991			36,128			18,962
Total Cash and Cash Equivalents		100,641			100,539			58,896

Securities:
Available for sale (at fair value)		728,161			741,375			601,541
Held for investment (at amortized cost)		209,047			207,904			176,724
Total Securities		937,208			949,279			778,265

Loans available for sale		16,738			12,078			18,484

Loans, net of deferred costs		2,099,447			1,821,885			1,391,082
Less: Allowance for loan losses		(19,328	)		(17,071	)		(17,571	)
Net Loans		2,080,119			1,804,814			1,373,511

Bank premises and equipment, net		54,900			45,086			34,809
Other real estate owned		7,433			7,462			5,018
Other intangible assets		8,991			7,454			130
Goodwill		25,864			25,309			0
Bank owned life insurance		43,251			35,679			0
Other assets		102,963			105,635			92,700
	$	3,378,108		$	3,093,335		$	2,361,813

Liabilities and Shareholders' Equity
Liabilities
Deposits
Noninterest demand	$	869,877		$	725,238		$	522,001
Interest-bearing demand		618,344			652,353			479,827
Savings		286,810			264,738			215,076
Money market		660,632			450,172			344,726
Other time certificates		163,028			173,247			138,595
Brokered time certificates		8,323			7,034			7,025
Time certificates of $100,000 or more		135,282			143,752			101,300
Total Deposits		2,742,296			2,416,534			1,808,550

Federal funds purchased and securities sold under agreements to repurchase, maturing within 30 days		148,607			233,640			204,436
Borrowed funds		50,000			50,000			50,000
Subordinated debt		69,891			64,583			53,610
Other liabilities		17,034			15,927			9,262
		3,027,828			2,780,684			2,125,858

Shareholders' Equity
Common stock		3,435			3,300			2,600
Additional paid in capital		398,067			379,249			302,346
Accumulated deficit		(48,894	)		(65,000	)		(63,482	)
Treasury stock		(38	)		(71	)		(216	)
		352,570			317,478			241,248
Accumulated other comprehensive (loss), net		(2,290	)		(4,827	)		(5,293	)
Total Shareholders' Equity		350,280			312,651			235,955
	$	3,378,108		$	3,093,335		$	2,361,813

Common Shares Outstanding		34,346,456			33,136,592			26,027,634

Note: The balance sheet at December 31, 2014 has been derived from the audited financial statements at that date.

CONSOLIDATED QUARTERLY FINANCIAL DATA	(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	QUARTERS
	2015									2014
(Dollars in thousands, except per share data)	Third			Second			First			Fourth			Third
Net income (loss)	$	4,441		$	5,805		$	5,859		$	(1,517	)	$	2,996

Operating Ratios
Return on average assets-GAAP basis (2),(3)		0.52	%		0.72	%		0.75	%		(0.20	)%		0.52	%
Return on average tangible assets (2),(3),(4)		0.56			0.75			0.79			(0.16	)		0.54
Return on average shareholders' equity-GAAP basis (2),(3)		5.05			7.13			7.42			(1.89	)		4.97
Efficiency ratio (5)		76.29			68.57			68.33			104.46			82.78
Noninterest income to total revenue		21.79			25.63			22.13			22.40			26.30

Net interest margin (1),(2)		3.75			3.50			3.62			3.56			3.17
Average equity to average assets		10.34			10.12			10.17			10.51			10.37

Credit Analysis Excluding Acquired Loans
Net charge-offs (recoveries) - non-acquired loans	$	(233	)	$	(358	)	$	(263	)	$	618		$	(856	)
Net charge-offs - acquired loans		683			143			46			-			-
Total net charge-offs (recoveries)	$	450		$	(215	)	$	(217	)	$	618		$	(856	)

Net charge-offs (recoveries) to average loans - non-acquired loans		(0.04	)%		(0.08	)%		(0.06	)%		0.14	%		(0.25	)%
Net charge-offs (recoveries) to average loans - acquired loans		0.12			0.03			0.01			-			-
Total net charge-offs (recoveries) to average loans		0.08			(0.05	)		(0.05	)		0.14			(0.25	)

Loan loss provision (recapture) - non-acquired loans	$	852		$	271		$	292		$	54		$	(1,425	)
Loan loss provision (recapture) - acquired loans		135			584			141			64			-
Total loan loss provision (recapture)	$	987		$	855		$	433		$	118		$	(1,425	)

Allowance to loans at end of period - non-acquired loans		1.11	%		1.10	%		1.13	%		1.14	%		1.26	%
Discount for credit losses to acquired loans at end of period		4.13			3.32			3.56			3.56			-

Nonperforming loans - non-acquired loans	$	14,474		$	15,054		$	16,860		$	18,563		$	18,942
Nonperforming loans - acquired loans		2,636			4,543			4,196			2,577			-
Other real estate owned - non-acquired		4,183			4,855			4,738			5,567			5,018
Other real estate owned - acquired		3,250			1,053			1,431			1,895			-
Total nonperforming assets	$	24,543		$	25,505		$	27,225		$	28,602		$	23,960

Restructured loans (accruing)	$	20,543		$	23,441		$	23,847		$	24,997		$	28,969

Purchased noncredit impaired loans	$	347,262		$	275,964		$	296,839		$	326,066		$	-
Purchased credit impaired loans		12,673			6,562			7,119			7,814			-
Total acquired loans	$	359,935		$	282,526		$	303,958		$	333,880		$	-

Nonperforming loans to loans at end of period - non-acquired loans		0.69	%		0.78	%		0.91	%		1.02	%		1.36	%
Nonperforming loans to loans at end of period - acquired loans		0.12			0.23			0.23			0.14			-
Total nonperforming loans to loans at end of period		0.81			1.01			1.14			1.16			1.36

Nonperforming assets to total assets - non-acquired		0.55	%		0.62	%		0.67	%		0.78	%		1.01	%
Nonperforming assets to total assets - acquired		0.18			0.17			0.17			0.14			-
Total nonperforming assets to total assets		0.73			0.79			0.84			0.92			1.01

Per Share Common Stock
Net income (loss) diluted-GAAP basis	$	0.13		$	0.18		$	0.18		$	(0.05	)	$	0.12
Net income (loss) basic-GAAP basis		0.13			0.18			0.18			(0.05	)		0.12

Cash dividends declared		0.00			0.00			0.00			0.00			0.00
Book value per share common		10.20			9.84			9.71			9.44			9.07

Average Balances
Total average assets	$	3,373,858		$	3,225,127		$	3,151,132		$	3,037,061		$	2,305,799
Less: Intangible assets		35,185			32,188			31,221			33,803			237
Total average tangible assets	$	3,338,673		$	3,192,939		$	3,119,911		$	3,003,258		$	2,305,562

Total average equity	$	348,901		$	326,338		$	320,346		$	319,233		$	239,031
Less: Intangible assets		35,185			32,188			31,221			33,803			237
Total average tangible equity	$	313,716		$	294,150		$	289,125		$	285,430		$	238,794

(1)

Calculated on a fully taxable equivalent basis using amortized cost.

(2)

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

(3)

The calculation 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)

	September 30,		December 31,		September 30,
SECURITIES	2015		2014		2014

U.S. Treasury and U.S. Government Agencies	$	3,929	$	3,899	$	100
Mortgage-backed		488,803		587,933		473,681
Collateralized loan obligations		123,447		125,225		121,500
Obligations of states and political subdivisions		33,037		24,318		6,260
Corporates		32,155		0		0
CMBS		39,027		0		0
Other		7,763		0		0
Securities Available for Sale		728,161		741,375		601,541

Mortgage-backed		167,747		182,076		176,724
Collateralized loan obligations		41,300		25,828		0
Securities Held for Investment		209,047		207,904		176,724
Total Securities	$	937,208	$	949,279	$	778,265

	September 30,		December 31,		September 30,
LOANS	2015		2014		2014

Construction and land development	$	96,036	$	87,036	$	57,851
Real estate mortgage		1,714,120		1,524,044		1,193,924
Installment loans to individuals		78,472		52,897		47,645
Commercial and financial		210,335		157,396		91,300
Other loans		484		512		362
Total Loans	$	2,099,447	$	1,821,885	$	1,391,082

AVERAGE BALANCES, INTEREST INCOME AND EXPENSES, YIELDS AND RATES ⁽¹⁾	(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	2015																2014
	Third Quarter								Second Quarter								Third Quarter
	Average					Yield/			Average					Yield/			Average					Yield/
(Dollars in thousands)	Balance			Interest		Rate			Balance			Interest		Rate			Balance			Interest		Rate
Assets
Earning assets:
Securities:
Taxable	$	966,764		$	5,154		2.13	%	$	957,374		$	4,977		2.08	%	$	698,274		$	3,656		2.09	%
Nontaxable		14,982			220		5.87			15,311			225		5.87			742			13		7.01
Total Securities		981,746			5,374		2.19			972,685			5,202		2.14			699,016			3,669		2.10

Federal funds sold and other investments		42,083			249		2.35			79,031			249		1.26			98,711			211		0.85

Loans, net		2,060,326			25,319		4.88			1,904,011			22,032		4.64			1,365,978			14,665		4.26

Total Earning Assets		3,084,155			30,942		3.98			2,955,727			27,483		3.73			2,163,705			18,545		3.40

Allowance for loan losses		(19,294	)							(18,247	)							(17,972	)
Cash and due from banks		70,292								71,858								44,172
Premises and equipment		54,436								49,275								34,717
Intangible assets		35,185								32,188								237
Bank owned life insurance		41,934								36,111								0
Other assets		107,150								98,215								80,940

	$	3,373,858							$	3,225,127							$	2,305,799

Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing demand	$	621,365		$	116		0.07	%	$	612,433		$	110		0.07	%	$	489,138		$	91		0.07	%
Savings		285,410			39		0.05			279,354			41		0.06			212,479			24		0.04
Money market		637,840			407		0.25			607,271			373		0.25			339,937			74		0.09
Time deposits		308,184			295		0.38			303,802			321		0.42			252,179			370		0.58
Federal funds purchased and other short term borrowings		183,494			112		0.24			168,068			77		0.18			153,696			69		0.18
Other borrowings		118,961			843		2.81			114,649			773		2.70			103,610			635		2.43

Total Interest-Bearing Liabilities		2,155,254			1,812		0.33			2,085,577			1,695		0.33			1,551,039			1,263		0.32

Noninterest demand		849,468								795,707								506,478
Other liabilities		20,235								17,505								9,251
Total Liabilities		3,024,957								2,898,789								2,066,768

Shareholders' equity		348,901								326,338								239,031

	$	3,373,858							$	3,225,127							$	2,305,799

Interest expense as a % of earning assets							0.23	%							0.23	%							0.23	%
Net interest income as a % of earning assets				$	29,130		3.75	%				$	25,788		3.50	%				$	17,282		3.17	%

(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.

CONSOLIDATED QUARTERLY FINANCIAL DATA	(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	2015						2014
(Dollars in thousands)	Third Quarter		Second Quarter		First Quarter		Fourth Quarter		Third Quarter

Customer Relationship Funding (Period End)
Noninterest demand
Commercial	$	619,960	$	561,742	$	546,876	$	481,327	$	301,630
Retail		182,381		180,484		191,262		190,120		162,392
Public funds		47,765		47,913		38,529		41,201		39,329
Other		19,771		18,290		16,669		12,590		18,650
		869,877		808,429		793,336		725,238		522,001

Interest-bearing demand
Commercial		69,037		60,411		66,532		58,173		41,131
Retail		443,022		410,601		416,766		407,653		324,690
Public funds		106,285		128,256		151,556		186,527		114,006
		618,344		599,268		634,854		652,353		479,827

Total transaction accounts
Commercial		688,997		622,153		613,408		539,500		342,761
Retail		625,403		591,085		608,028		597,773		487,082
Public funds		154,050		176,169		190,085		227,728		153,335
Other		19,771		18,290		16,669		12,590		18,650
		1,488,221		1,407,697		1,428,190		1,377,591		1,001,828

Savings		286,810		282,588		272,963		264,738		215,076

Money market
Commercial		225,629		191,061		185,668		172,417		118,385
Retail		306,138		272,853		274,203		264,725		218,376
Public funds		128,865		158,059		136,729		13,030		7,965
		660,632		621,973		596,600		450,172		344,726

Time certificates of deposit		306,633		292,919		312,072		324,033		246,920
Total Deposits	$	2,742,296	$	2,605,177	$	2,609,825	$	2,416,534	$	1,808,550

Customer sweep accounts	$	148,607	$	157,676	$	170,023	$	153,640	$	124,436

Total core customer funding (1)	$	2,584,270	$	2,469,934	$	2,467,776	$	2,246,141	$	1,686,066

(1)

Total deposits and customer sweep accounts, excluding certificates of deposits.

Exhibit 99.2

Seacoast Banking Corporation of Florida

3^rd Quarter Earnings Conference Call

October 23, 2015

1:00 pm Eastern Time

COMPANY PARTICIPANTS

Dennis Hudson – Chief Executive Officer

Steve Fowle – Chief Financial Officer

Chuck Cross – Commercial Banking

OTHER PARTICIPANTS

Stephen Scouten – Sandler O'Neill

Christopher Marinac – FIG Partners

PRESENTATION

Operator: Welcome to the Seacoast Third Quarter Earnings Conference call. My name is Ethan, and I will be your operator for today's call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. Please note that this conference is being recorded.

I’ll now turn the call over to Dennis S. Hudson, CEO. Mr. Hudson, you may begin.

Dennis Hudson: Thank you very much. Before we begin, I’ll direct your attention as we always do to the statement contained at the end of our press release regarding forward-looking statements that we may be making during our call. We’ll be discussing issues that constitute forward-looking statements within the meaning of the Securities and Exchange Act, and as a result our comments are intended to be covered within the meaning of the Act. The earnings release and the slides that go along with this call are also posted on our website at seacoastbanking and they can be found at Investor Services under Presentations.

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So thank you for joining us today on our third quarter earnings conference call. With me today is Steve Fowle, our Chief Financial Officer, who will be discussing our financial and operating results. Also joining us in the room are Chuck Cross, who leads Commercial Banking; Chuck Shaffer, who heads Community Banking and Jeff Lee, our Chief Marketing Officer. We’ll answer questions following the conclusion of a few remarks.

Turning to our third quarter, Seacoast posted strong results, as we continue to execute our balanced growth strategy. This strategy combines investments in organic growth from consumer and commercial banking with selective strategic transactions that strengthen our geographic presence and provides what we think are compelling financial returns.

Total revenue rose to $37.1 million, a 59% gain from last year’s third quarter and an increase of 7.5% sequentially. We pulled this growth to the bottom line with adjusted net income rising 96% to $6.4 million from the year ago period and our core efficiency ratio improved from a little under 80% to 68% during the current quarter.

Our operating metrics show that Seacoast challenger approach to traditional community banking is working. We posted strong gains in household growth, cross sells and banking activities executed outside the branch as investments in digital execution continued to bear fruits. Household grew 23% year-over-year. In September, 10% of new deposit accounts were opened outside the branch versus just 2% a year ago, and 17% of our consumer loans were made online or via our call center versus none in the third quarter of last year. We believe we’re still in the early stages of applying alternative approaches to customer acquisitions, product delivery and cross-selling, and we believe the implications on our cost structure are compelling.

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Our increased use of technology was not limited to our retail customers. In fact, 11% of our business loans were opened outside the branch in the month of September. Our innovative Accelerate small and medium sized business lending platform continues to prove itself as it contributed a very significant majority of loan growth this quarter.

Turning to acquired growth, many of you saw that last Thursday, we announced an agreement to acquire the Orlando banking operations of BMO Harris, including 14 Orlando area retail branches. This will add approximately $355 million in predominantly core deposits and about half of these deposits are comprised of no interest checking accounts and approximately $70 million in loans outstanding from their business banking customers. This transaction will net us a pickup of almost 9,000 households across the Orlando market. We are excited to welcome our new customers and associates to Seacoast bank and to share our approach to community banking, which blends innovative and technologically driven services with local Florida routes and personal service.

Successful integration of acquired banks is of course critical to an effective M&A component of our balanced growth strategy. We’re pleased that following our acquisition of Winter Park-based BankFIRST in late 2014, we saw a strong 7.5% annualized household growth in Orlando as a result of this successful integration.

We also integrated Grand Bankshares successfully in the third quarter of this year. Chuck Shaffer and Kathy Cavicchioli, our Head of Operations and Technology, and their teams worked tirelessly to ensure that both the employee and customers experienced a seamless transition. We have seen minimal attrition of Grand Bank customers since the integration began and are honored to serve these new customers and expand our footprint further in the Palm Beach County.

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Seacoast benefits from tailwinds created by Florida’s strong regional economy. According to a recent Wells Fargo Economics Group report, Florida’s year-over-year job gains exceeded the nation in every month since April of 2012 with over 261,000 jobs added in the last year and the state unemployment rate fell 20 basis points to 5.3% in the month of August. These statistics are strong indicators that Florida is on an upward sloping economic path.

With that I’d like to turn the call over to Steve Fowle, our Chief Financial Officer to discuss our results for the quarter.

Steve Fowle: Thank you, Denny, and thanks to all of you who are calling in for taking the time to join us this afternoon. Our third quarter reflected another successful period of year-over-year growth for Seacoast. We saw continued strong progress across our lines of business combined with strategic acquisitions that drove ongoing revenue gains. As Denny noted earlier, revenues increased a solid $2.6 million this quarter to $37.1 million. That’s a 7.5% not annualized linked quarter growth rate and an increase of 59% or $13.7 million compared to the same quarter last year.

During the quarter, we completed the acquisition and integration of Palm Beach County based Grand Bank. Noise, in the form of one-time charges and increased operating costs related to our acquisition makes the quarter difficult to compare especially since a fraction of cost savings have not been achieved. Reported earnings of $4.4 million or $0.13 per diluted share compared to $3 million or $0.12 a share a year ago, and are down from prior quarter’s $0.18 per share; however, adjusted net income excluding primarily merger charges was up 96% to $6.4 million from $3.3 million last year and up 4% sequentially. Adjusted earnings per diluted share were $0.19, up from $0.13 last year and flat with last quarter.

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As I mentioned, we have not fully implemented cost savings from the Grand Bank merger and believe an additional $200,000 or so can be saved going forward. While our results were augmented by recent acquisitions, our investment in our franchise, including effective use of digital marketing and analytics, continued to drive significant organic growth. Last quarter, we discussed the strength of our household growth rate and we saw continued acceleration with annualized household growth reaching 6%. And helping to prove our acquisition thesis, our Orlando market reached 7.5% household growth rate, one year after closing the BankFIRST acquisition.

Despite a seasonally slow quarter, we experienced strong loan growth with total loans growing 51% over the year ago period. Excluding acquired loans, we’re successful in achieving organic growth of $227 million or 16% over last year and $58 million or 12% annualized over the last quarter. We’ve been successful in promoting granularity and diversification while simultaneously building the portfolio. During the year, our average commercial loan was only $278,000 and we continue to maintain a very conservative house limit.

Deposits also increased 51.6% year-over-year to $2.74 billion and core customer funding increased nearly $900 million to $2.58 billion. Excluding acquisitions, core customer funding increased by $293 million or 17.4% from a year ago. Non-interest demand deposits grew $61.4 million or 7.6% from the second quarter and nearly $350 million or 67% from the third quarter of last year. Checking accounts now represent 58% of customer funding.

With respect to the income statement, a number of factors came together to positively impact our net interest income and margin during the quarter. Thoughtful management of our balance sheet facilitated margin growth as loan growth improved our balance sheet mix. Redeployment of excess liquidity and steps to improve our investment allocation added modest basis point gains to our margin quarter-over-quarter, the year-over-year impact was even greater. Acquisitions increased the pace in the balance sheet migration, as well as added loan mix that improved our overall loan yields.

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Finally, during the quarter, we recorded about $700,000 to $800,000 or 10 basis points in purchased loan accretion in excess of our expectations, largely due to modifications of current relationships. This one is in addition to approximately 12 basis points in normal or expected purchased loan accretion representing interest rate and credit marks on acquired loans. As a result of these factors and our successful growth, we improved margin 58 basis points and $11.8 million from last year and 25 basis points or $3.3 million from the prior quarter. We expect our margin to be in the low-to-mid 3.60s going forward, excluding additional acquisitions, with upside to that number based on our strong loan growth. However, I want to remind you that purchased loan accretion adds volatility to our margin in any particular quarter and we’ve underestimated the positive impact from this accretion during the past few quarters.

Our acquisition of the BMO Harris Orlando branches, while extremely strong from an IRR and EPS accretion standpoint, will reduce our margin percent in the short-term following integration of those branches while improving our net interest income in the first half of 2016.

Fee income, adjusted for securities and loan gains, was flat quarter-over-quarter. Continued strength in mortgage banking led to a solid increase in fees while our marine business slowed. This business tends to show volatility in revenues and has seen slower third quarter over recent years. Other categories showed typical seasonal trends. Seasonal trends, combined with our strong growth, suggest increases in the level of non-interest income over the next two quarters.

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Third quarter expenses reflect the impact of acquisitions, most notably the Grand Bank acquisition, as well as additional strategic spend. The year-over-year increase also reflects our significant entry into the Orlando market through the BankFIRST acquisition almost a year ago. The linked quarter increase of $4.8 million includes additional one-time acquisition type expense, so our operating increase is $2.2 million or 9% as follows. The largest increase is related to ongoing costs from acquired companies, a full quarter of Seacoast Business Funding and Factoring business purchased last quarter, and a portion of a quarter of Grand compromised about $1.4 million of the increase. As stated earlier, we have not recognized the full cost savings from Grand Bank as items like branch closures did not occur until the end of the quarter and as employees were retained for the transition period.

Related to the acquisition, we began a customer acquisition and brand campaign in Palm Beach which added $130,000 to third quarter. Incentives and commissions related to performance of our business added approximately $350,000, and other legal and professional fees, which tend to be volatile from quarter to quarter, increased nearly $400,000. That said, we are focused on expense management, which ultimately will allow Seacoast the flexibility to capture additional expansion opportunities and allocate our resources to serving our customers while driving bottom line results.

As we’ve discussed over the past several quarters, the community banking world is undergoing a tremendous transformation. At Seacoast we have embraced this change and are redefining the concept of community bank service, which includes convenience, trusted banker advice and sales to include digital and 24/7 service. As a result, we are seeing significant migration of non-consultative transactions to non-branch channels, as Denny mentioned, and significant growth in online sales. In line with last quarter's conversation, we continue to rationalize our branch structure closing an acquired location at the very end of the third quarter and announcing consolidation of an additional legacy branch in the coming quarter. We expect to continue to aggressively rationalize our footprint as we move forward.

As we look to the fourth quarter, I’d expect a similar level of normalized expense including one-time items to this quarter as we realize a full quarter of the integration of Grand Bank and support our significant growth. Longer-term, I anticipate our efficiency ratio to trend significantly downward. We will provide more color on our expectations for 2016 as part of our next quarter results.

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With that said, I will turn the call back over to Denny.

Dennis Hudson: Thanks, Steve. Our result this year, I think, are proving that we are capable clearly of creating sustainable growth rates that are among, frankly, the best in the industry and growth rates that are even exceeding some of the growth rates we're seeing across the state of Florida. Excluding the impact of acquisitions, we are growing in the mid-teens. Organic loan growth, as you heard, was up 16% over the past year; organic customer funding was up 17% over the past year; and organic deposit growth was up 13% over the last year. And it’s the right kind of growth. Our non-interest demand deposit mix grew from 29% a year ago and stand at 32% of deposits as of now and we see that number going up.

The total cost of deposits remain very low, I think this quarter around 13 basis points. And the loans we are making are spread against and across all loan categories, both commercial and consumer, and they are very granular with commercial loans averaging well under $300,000 so far this year. In fact, our individual loan hold limit is currently less than 20% of our legal lending limit. So we are not just producing strong organic growth, it’s the right kind of growth.

We are pleased with the progress and we know we have more work to do to achieve better results in terms of ROA and ROE. As our growth continues, we are planning for faster improvements in these metrics with more significant progress throughout 2016 as we demand greater improvement in our operating leverage.

So with that, I’d like to open the call to questions, and I’ll turn the call back to our operator. Ethan?

Page 9

Operator: Thank you. [Operator instructions] Our first question comes from Stephen Scouten from Sandler O'Neill.

Stephen Scouten: Thanks. Good morning, guys. So looking at the quarter, I was curious, I know, Steve, you gave a little color about the NIM and the level of accretion, and just the fact that obviously the BMO deposits will take that down somewhat, but can you give us a sense for what you feel like the overall trajectory of the NIM will be and just kind of how you’re thinking about compression just in this continued low rate environment?

Steve Fowle: Well, again, the rate environment definitely is a wild card. We are positioned asset sensitive and pretty significantly so, so that in an up 200 environment, the way most companies model the world, up 200 rate environment would help us by about 10% in our net interest margin. So again, we are positioned well for the up rate environment a forward curve would be a positive for us.

That said, we see our NIM in the low-to-mid 3.60s going forward, again, with an expected level of purchase accretion. We see a low-to-mid 3.60s with some upward opportunity related to our strong loan growth and the opportunity to realign our balance sheet.

Dennis Hudson: I think I’d just make one other comment. The biggest driver to our margin expansion really over the last 18 months or so has been our loan growth and creating the right kind of growth and the balance sheet. Yes, it’s been aided by some of the acquisition work we have done here recently, but the real driver is fundamental growth that we are producing in the balance sheet around the right kinds of assets and funding.

Stephen Scouten: Yeah, definitely. And in regards to that loan growth, I mean, I know the pipeline is still pretty strong heading into the next quarter, but a little bit down from the previous quarter I guess. So would you think the 4Q might have a little downside relative to the organic growth we saw in 3Q? And is your outlook still kind of to achieve double-digit loan growth into 2016?

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Dennis Hudson: I’ll turn the call over to Chuck Cross, just for a few comments.

Chuck Cross: Yeah, we continue to see strong and healthy loan growth. We just had a couple of deals slip in Q3 because the borrowers couldn’t close, and we see those loans closing in Q4. So we think we’ll stay right on stride with loan growth for the next few quarters.

Stephen Scouten: And maybe one last question for me as it pertains to expenses, and I appreciate kind of the breakdown you’re going through some of the movement quarter-over-quarter. One of the items that I still had a question on I guess in particular is the increase in data processing, and if that was just related to Grand or what drove that? And just kind of what we can expect to see in terms of the absolute level of expenses as you guys continue to make investments in technology and other things that should pay long-term dividends, but maybe in the near-term could lead the expense base higher or maybe give me some guidance there if you could.

Steve Fowle: So on the first question, the data processing cost, the reason for the significant up this quarter has to do with payments made for the Grand Bank’s data conversion. So that spike won’t be repeating next quarter and that line item should come back closer to where we were last quarter. Otherwise, long term, again, next quarter we see expenses probably, normalized, or adjusted, relatively flat with where we were this quarter. And again, as we move forward, very focused on operating leverage, making sure our revenues are significantly outpacing the increase in expenses.

Stephen Scouten: Well, thanks, guys. I appreciate you taking my questions.

Page 11

Dennis Hudson: Thanks, Steven.

Operator: Our next question comes from Christopher Marinac from FIG Partners.

Christopher Marinac: Thanks, good afternoon. Dennis or Steve, I was wondering if you look beyond just the short term in closing the Orlando branch deal, where should we see the loan to deposit ratio shake out next year? Should that be kind of the general higher than we see it today?

Steve Fowle: So, obviously, as we close the Orlando deal, we’re picking up significant amount more in deposits than we are in loans. So where we’re about a 77%, 78% loan to deposit ratio, that should drop before recovering in the longer term. We see a lot of opportunities with what we’re doing digitally and with people that we’re picking up through the Grand acquisition, through the acquisition up in Orlando and through the work we’re doing internally, through our Accelerate and traditional offerings to be able to really make some upward momentum as we’ve been doing recently in our loan to deposit ratio.

Dennis Hudson: Right. I’d also say we’ll look carefully as we approach closing of that transaction, we’ll look carefully at other funding sources that we may want to tamp down a little bit. So we’re mindful of that as well.

Christopher Marinac: This is a seasonal time of the year where you tend to historically have had more deposits. I was curious if that also plays into this management sign?

Dennis Hudson: Yeah. And it certainly will. Particularly we’re thinking we would close the BMO transaction, I think we’re thinking second quarter, didn’t we say, early second quarter. And if that occurs, as you know, that kind of coincides with a seasonal high, all things considered, in funding. So a lot of liquidity coming in.

Page 12

Christopher Marinac: And then, Denny, the 17% statistic that you mentioned in your remarks I guess on the consumer side, either coming from digital or from call centers, what’s the rough split between the call center piece and the digital piece?

Dennis Hudson: Between call center and digital, I don’t think we’ve broadcast that, but go ahead.

Jeff Lee: Yeah. If you think about deposit accounts opened outside of the branch, about 40% to 50% of those are coming through direct, the rest are being closed by our call center and it’s really up to the customer to choose whatever is most convenient for them and that’s why we’re really focused around both channels.

Christopher Marinac: Got it. So you can call it roughly half, but I understand what you’re saying on that. And then last comment would just be a question about sort of raising deposits virtually and are you doing some of that or are there opportunities for you to do that down the road?

Jeff Lee: Yeah. I think there are opportunities to continue to move forward. I think right now we’re trying to source things directly online, but at the same time, we’re also doing quite a bit of lead generation work through people in the field. We think it’s very important to continue to support the sales staff through digital means, the ability to geo-target around branches, and so we really see it as using both opportunities to drive direct sales, but also to drive lead generation to support the staff that we have.

Dennis Hudson: Chris, getting this right over the next couple of years has very significant implications on our cost structure as we look ahead a little further down the road and we’re very mindful of that. And ultimately, our highest level goal here is to continue to bring down the costs to serve and the costs to acquire, while bringing up and improving the way we interact with customers, both on the phone, digitally and face to face and in our branches, and it’s a pretty exciting thing for us as we begin to discover how to move faster.

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Christopher Marinac: Sounds good, Denny. Thanks very much for the color.

Dennis Hudson: Thank you. Ethan, do you have any more questions?

Operator: It appears we have no further questions at this time. I would like to turn the call over back to Mr. Hudson for any final remarks.

Dennis Hudson: Great. Well, thank you very much for joining us today. We look forward to speaking with you in early 2016 to discuss our full year results.

Operator: Thank you, ladies and gentlemen, this concludes today’s conference. Thank you for participating. You may now disconnect.

Exhibit 99.3

Third Quarter 2015 October 23, 2015 Contact : (email) Steve.Fowle@SeacoastBank.com (phone) 772.463.8977 (web) www.SeacoastBanking.com

Third Quarter 2015 Cautionary Notice Regarding Forward - Looking Statements 2 These slides contain “forward - looking statements” within the meaning of Section 27 A of the Securities Act of 1933 and Section 21 E 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 , 2014 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 .

Third Quarter 2015 3 Financial Highlights Growth Highlights Q3 2015 Financial and Growth Highlights • Loans increased $162 million or 8% compared to Q2 2015, and rose 51% year - over - year. Excluding acquisitions, loans increased $238 million or 3% compared to Q2 2014 and $227 or 16% from Q3 2014. • Total households increased a strong 4% (not annualized) from Q2 and 23% compared to Q3 2014. Excluding acquisition, household growth accelerated to 6% (annualized) from the prior quarter. • Seacoast completed the Grand Bancshares, Inc. acquisition and completed the conversion of Grand’s customers over the July 17 weekend, adding approximately $188 million in deposits and $112 million in gross loans in the attractive Palm Beach market with minimal customer attrition . • Adjusted net income (1) increased 96% to $6.4 million, or $0.19 per diluted share, compared to $3.3 million, or $0.13 per diluted share, in Q2 2014. • Revenues increased $2.6 million, or 7.5%, sequentially to $ 37.5 million compared to Q2 2015, and $13.7 million, or 59%, compared to Q3 2014. • Net interest margin increased 58 basis points to 3.75% year - over - year, and net interest income improved $11.8 million or 69% from prior year, reflecting organic growth and acquisition . (1) Non - GAAP measure, excludes merger related charges, branch closure expenses, and other adjustments (See Appendix for reconciliation to GAA P)

Third Quarter 2015 • About Seacoast • Florida Economic Updates • Acquisitions Update • Earnings Highlights • Balance Sheet Trends • Income Statement Highlights • Appendix 4

Third Quarter 2015 Agenda • $3.4B bank in the nation’s third most - populous state • Strong and growing presence in two of Florida’s most attractive MSAs • Third - generation CEO; strong, engaged and independent board • Investing in innovative commercial banking platform and digital customer acquisition and cross sell • Growth - oriented culture • Market Cap: $ 515M Seacoast Bank [NASDAQ: SBCF] Attractive Geography, Deep Local Roots, Benefiting from Investments in Commercial Loan Platform and Digital Marketing 5 Orlando MSA West Palm Beach MSA Retail Location Commercial Banking Location

Third Quarter 2015 Agenda Investment Thesis Successfully Executing a New Model for Community Bankin g 6 • Reaping benefits from strategic investments in organic growth • Successful commercial banking platform – Accelerate • Leader in using digital technology to drive customer acquisition, enable cross - sell, eliminate costs • Consistent growth in fee - generating businesses • Track record of completing value - creating acquisitions • Opportunistic deals that expand our footprint and strengthen our franchise • Proven integration capabilities • Opportunity to acquire un - optimized customer sets • Ready supply of potential targets • Robust risk management and controls yielding consistent results • Action - oriented management team, engaged and experienced board that is aligned with shareholders • Well - positioned to benefit from resurgent Florida economy

Third Quarter 2015 • About Seacoast • Florida Economic Updates • Acquisitions Update • Earnings Highlights • Balance Sheet Trends • Income Statement Highlights • Appendix 7

8 Third Quarter 2015 Florida’s Unemployment Rate

Third Quarter 2015 Agenda Florida’s Economic Improvement 9 Investor Presentation Retail Location Commercial Banking Location • Employment overall grew 3.3% YOY in Florida vs 2.1% for the nation. • Unemployment in August was down to 5.3%, a drop of 0.2% from June levels. • Strongest sectors were education and health services, leisure & hospitality, education & health, trade, transportation and utilities, and financial . • Florida is home to six of the top 10 metro areas in nation for the highest forecasted employment growth.

Third Quarter 2015 • About Seacoast • Florida Economic Updates • Acquisitions Update • Earnings Highlights • Balance Sheet Trends • Income Statement Highlights • Appendix 10

Third Quarter 2015 Acquired BMO Harris Bank’s retail and business banking operations in Orlando MSA with 14 branches, $355 MM in deposits and $70 MM in pass - rated business banking loans High quality, low cost deposit base. Most recent quarter cost of deposits: 0.23% Deposit premium of 3.0% of total deposits Anticipated closing 1H/2016 Transaction Overview 11 Transaction Overview Strategic Rationale Become top 10 player in highly attractive Orlando MSA, largest Florida - based community bank in the market A top Florida market with a diverse growing economy, low unemployment and significant anticipated population growth Orlando becomes 2nd largest market for Seacoast after Port St. Lucie Acquisition of nearly 9,000 consumer and business banking households and BMO employees. Significant opportunity for cross sell Financially attractive with IRR in excess of 20%. Earnings accretion of 6% in 2016 (prior to realization of full synergies, excluding restructuring charge) Pro Forma Branch Map BMO Harris SBCF Past Acquisition Success Significant success in leveraging BankFirst customers and market following 2014 acquisition 2015 Orlando market Household growth rate running 7.5% annualized (following BankFIRST acquisition) compared to 6% for Seacoast Cross sell ratio for Orlando increasing at a rate nearly 4% greater than Seacoast

Third Quarter 2015 • About Seacoast • Florida Economic Updates • Acquisitions Update • Earnings Highlights • Balance Sheet Trends • Income Statement Highlights • Appendix 12

Third Quarter 2015 Earnings Improvement Trend 13 (1) Non - GAAP measure, excludes merger related charges, branch closure expenses, and other adjustments (See Appendix for reconciliation to GAA P) • Net Income increased to $4.4 million, a $1.4 million or 48% increase from Q3 2014 • Adjusted net income (1) of $6.4 million was up $3.1 million or 96% from the prior year (Dollars in thousands) Third Quarter 2015 Second Quarter 2015 First Quarter 2015 Fourth Quarter 2014 Third Quarter 2014 GAAP Net Income $4,441 $5,805 $5,859 ($1,517) $2,996 GAAP Earnings per diluted share $0.13 $ 0.18 $0.18 ($0.05) $ 0.12 Adjusted Net Income (1) $6,433 $ 6,172 $6,177 $4,179 $3,286 Adjusted Pretax, pre - provision income (1) $11,328 $ 10,815 $10,342 $7,464 $4,341 Adjusted Earnings per diluted share (1) $0.19 $0.19 $ 0.19 $0.13 $0.13 Average shares outstanding (000) 34,194 33,234 33,136 33,124 26,026

Third Quarter 2015 • About Seacoast • Florida Economic Updates • Acquisitions Update • Earnings Highlights • Balance Sheet Trends • Income Statement Highlights • Appendix 14

Third Quarter 2015 Loan Growth Momentum Continues 15 $1,391 $1,822 $1,854 $ 1,937 $2,099 $1,000 $1,200 $1,400 $1,600 $1,800 $2,000 $2,200 Q3-14 Q4-14 Q1-15 Q2-15 Q3-15 Total Loans Outstanding Total loans were $2.1 billion at September 30, 2015, up $162 million or 8.4% from the second quarter.

Third Quarter 2015 Deposit Balances Extend Growth Trends 16 $506 $728 $754 $796 $849 $1,042 $1,307 $1,416 $1,499 $1,545 $252 $327 $318 $304 $308 $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 Q3-14 Q4-14 Q1-15 Q2-15 Q3-15 Non Interest Bearing Low Cost Deposits Time Deposits Average Deposit Balances (in millions) $2,362 $2,488 $1,800 Total deposits increased 51.6% to $ 2.74 billion at September 30 , 2015 from year - ago levels. Cost of deposits at a low 13 basis points. $2,599 $2,702

Third Quarter 2015 • About Seacoast • Florida Economic Updates • Acquisitions Update • Earnings Highlights • Balance Sheet Trends • Income Statement Highlights • Appendix 17

Third Quarter 2015 Net Interest Income and Margin Expands from Acquisition and Core Growth Activity 18 $17,282 $24,883 $25,834 $25,788 $29,130 3.17% 3.56% 3.62% 3.50% 3.75% 3.00% 3.20% 3.40% 3.60% 3.80% 4.00% 4.20% $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 Q3-14 Q4-14 Q1-15 Q2-15 Q3-15 Net Interest Income and Net Interest Margin ($ in thousands) • Net interest margin for the quarter increased to 3.75%, versus prior quarter of 3.50% and 3.17% in Q3 – 2014 • Net interest income for the quarter totaled $29.1 million, up $3.3 million versus prior quarter, excluding acquired loans, up 12% annualized

Third Quarter 2015 Non Interest Income 19 $1,753 $2,208 $2,002 $2,115 $2,217 $1,452 $1,603 $1,737 $2,033 $1,925 $1,225 $1,212 $1,242 $1,335 $1,385 $825 $716 $1,088 $1,032 $1,177 $894 $1,150 $909 $1,272 $1,012 $252 $330 $334 $366 $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 $9,000 $10,000 Q3-14 Q4-14 Q1-15 Q2-15 Q3-15 BOLI Other Income Mortgage Banking Fees Wealth Management Fees Interchange Income Service Charges Non Interest Income (in thousands)* $7,141 $7,308 $6,149 *Non interest income before: securities gains, net ** Q2 - 15 excludes $725,000 gain on participation loans • Noninterest income excluding security gains, totaled $8.1 million for the third quarter, an increase of $1.9 million or 31% from a year ago $8,121 $8,082

Third Quarter 2015 Non Interest Expense 20 $9,917 $12,459 $11,192 $11,814 $13,236 $1,769 $1,925 $2,184 $2,235 $2,279 $2,820 $3,426 $3,251 $3,272 $3,604 $4,338 $6,598 $6,048 $6,376 $6,645 $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 Q3-14 Q4-14 Q1-15 Q2-15 Q3-15 Other Occupancy / Telephone Data Processing Cost Salaries and Benefits Non Interest Expense (1) (in Thousands) $24,408 $22,675 $18,844 • Excluding merger related charges and other one - time items, noninterest expenses grew $ 2.1 million or 9 % • A significant amount of this increase is related to nearly a full quarter’s operating expense impact from the Grand Bankshares acquisition, our acquisition of FGC in Q2, production driven commission and incentive expense, and brand awareness relating to the acquisition of Grand Bank $23,697 $25,764 (1) Non - GAAP measure, excludes merger related charges, branch closure expenses, and other adjustments (See Appendix for reconciliation to GAA P)

21 Transforming Our Business Outside of Branch September 2015 September 2014 % of Checks Deposited 26.6% 20.3% % of Deposit Accounts Opened 9.82% 1.88% % of Consumer Loans Opened 16.53% 0.00% % of Business Loans Opened 10.96% 0.00% Still in the early innings of our transformation, but already seeing results which position us as unique to other community banks. x Alternative Sales x Alternative Service x Online Fulfillment x Analytics x Marketing Automation x Cross Sell x Training x Digital Marketing $8,000 $9,000 $10,000 $11,000 $12,000 $13,000 $14,000 $15,000 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Oct-13 Jan-14 Apr-14 Jul-14 Oct-14 Jan-15 Apr-15 Jul-15 Oct-15 Deposits ($) Per Square Foot

Third Quarter 2015 • About Seacoast • Florida Economic Updates • Acquisitions Update • Earnings Highlights • Balance Sheet Trends • Income Statement Highlights • Appendix 22

Explanation of Certain Unaudited Non - GAAP Financial M easures This presentation contains financial information determined by methods other than Generally Accepted Accounting Principles (“GAAP”) . The financial highlights provide reconciliations between GAAP net income and adjusted net income, GAAP income and adjusted pretax, preprovision income . Management uses these non - GAAP financial measures in its analysis of the Company’s performance and believes these presentations provide useful supplemental information, and a clearer understanding of the Company’s performance . The Company believes the non - GAAP measures enhance investors’ understanding of the Company’s business and performance . These measures are also useful in understanding performance trends and facilitate comparisons with the performance of other financial institutions . The limitations associated with operating measures are the risk that persons might disagree as to the appropriateness of items comprising these measures and that different companies might calculate these measures differently . The Company provides reconciliations between GAAP and these non - GAAP measures . These disclosures should not be considered an alternative to GAAP . 23 Investor Presentation

Net Income - GAAP to Non - GAAP Reconciliation (Q3 14 – Q3 15) Presented below is net income excluding adjustments for merger related charges, branch closure charges, and other non core expenses. The Company believes that these results of operations are a more meaningful depiction of the underlying fundamentals of its business and ove rall performance. (1) Non - GAAP measure, excludes merger related charges, branch closure expenses, and other adjustments (See Appendix for reconciliation to GAA P) 24 Investor Presentation (Dollars in thousands except per share data) Third Quarter 2015 Second Quarter 2015 First Quarter 2015 Fourth Quarter 2014 Third Quarter 2014 Net income $4,441 $5,805 $5,859 ($1,517) $2,996 Severance 98 29 12 478 328 Merger related charges 2,692 337 275 2,722 399 Branch closure charges and costs related to expense initiatives 121 0 0 4,261 68 Marketing and brand refresh expense 0 0 0 697 0 Stock compensation expense and other incentive costs related to improved outlook 0 0 0 1,213 0 Security (gains) (160) 0 0 (108) (344) Miscellaneous losses (gains) 112 0 0 119 (45) Recovery of nonaccrual loan interest 0 0 0 0 (192) Net loss on OREO and repossessed assets 262 53 81 9 156 Asset dispositions expense 77 173 143 103 139 Effective tax rate on adjustments (1,210) (225) (193) (3,798) (219) Adjusted Net Income (1) 6,433 6,172 6,177 4,179 3,286 Provision (recapture) for loan losses 987 855 433 118 (1,425) Income taxes 3,908 3,788 3,732 3,167 2,480 Adjusted pretax, pre-provision income (1) $11,328 $10,815 $10,342 $7,464 $4,341 Adjusted earnings per diluted share (1) $0.19 $0.19 $0.19 $0.13 $0.13 Average shares outstanding (000) 34,194 33,234 33,136 33,124 26,026

Net Income - GAAP to Non - GAAP Reconciliation (Q3 14 – Q3 15) Presented below is net income excluding adjustments for merger related charges, branch closure charges, and other non core expenses. The Company believes that these results of operations are a more meaningful depiction of the underlying fundamentals of its business and ove rall performance. (1) Non - GAAP measure, excludes merger related charges, branch closure expenses, and other adjustments (See Appendix for reconciliation to GAA P) 25 Investor Presentation Third Second First Fourth Third (Dollars in thousands) Quarter Quarter Quarter Quarter Quarter 2015 2015 2015 2014 2014 Noninterest Expense: Salaries and wages 10,806$ 9,273$ 8,777$ 9,998$ 7,880$ Employee benefits 2,430 2,541 2,415 2,461 2,049 Outsourced data processing costs 2,279 2,235 2,184 1,925 1,769 Telephone / data lines 446 443 496 419 313 Occupancy expense 2,275 2,010 2,023 2,325 1,879 Furniture and equipment expense 883 819 732 683 628 Marketing expense 1,063 1,225 975 1,072 717 Legal and professional fees 1,651 1,255 1,388 1,741 884 FDIC assessments 552 520 589 476 387 Amortization of intangibles 397 315 315 446 195 Other 2,982 3,061 2,781 2,862 2,143 Total Core Operating Expense 25,763 23,697 22,675 24,408 18,844 Non-GAAP adjustments Severance and organizational changes 98 29 12 478 328 Legal and professional fees for acquisition and expense initiatives 2,692 337 275 2,722 467 Branch Closure 121 0 0 4,261 0 Brand refresh expenses 0 0 0 697 0 Additional incentives for quarter and year performance 0 0 0 1,213 0 Miscellaneous losses 112 0 0 119 (45) Recovery of prior legal fees 0 0 0 0 0 Net loss on OREO and repossessed assets 262 53 81 9 156 Asset disposition expense 77 173 143 103 139 Total Adjusted Operating Expenses 29,126$ 24,288$ 23,186$ 34,011$ 19,889$

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