SEACOAST BANKING CORP OF FLORIDA, 10-Q filed on 5/6/2022
Quarterly Report
v3.22.1
Cover Page
 3 Months Ended
Mar. 31, 2022
shares
Cover [Abstract]  
Document Type 10-Q
Document Quarterly Report true
Document Period End Date Mar. 31, 2022
Document Transition Report false
Entity File Number 0-13660
Entity Registrant Name Seacoast Banking Corporation of Florida
Entity Incorporation, State or Country Code FL
Entity Tax Identification Number 59-2260678
Entity Address, Address Line One 815 COLORADO AVENUE,
Entity Address, City or Town STUART
Entity Address, State or Province FL
Entity Address, Postal Zip Code 34994
City Area Code (772)
Local Phone Number 287-4000
Title of 12(b) Security Common Stock
Trading Symbol SBCF
Security Exchange Name NASDAQ
Entity Current Reporting Status Yes
Entity Interactive Data Current Yes
Entity Filer Category Large Accelerated Filer
Entity Small Business false
Entity Emerging Growth Company false
Entity Shell Company false
Entity Common Stock, Shares Outstanding 61,238,897
Amendment Flag false
Document Fiscal Year Focus 2022
Document Fiscal Period Focus Q1
Entity Central Index Key 0000730708
Current Fiscal Year End Date --12-31
v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Income Statement [Abstract]    
Interest and fees on loans $ 67,118 $ 62,298
Interest and dividends on securities 10,181 6,446
Interest on interest bearing deposits and other investments 933 586
Total Interest Income 78,232 69,330
Interest on deposits 767 1,065
Interest on time certificates 468 1,187
Interest on borrowed money 475 468
Total Interest Expense 1,710 2,720
Net Interest Income 76,522 66,610
Provision for credit losses 6,556 (5,715)
Net Interest Income after Provision for Credit Losses 69,966 72,325
Noninterest income:    
Service charges on deposit accounts 2,801 2,338
Interchange income 4,128 3,820
Wealth management income 2,659 2,323
Mortgage banking fees 1,686 4,225
Marine finance fees 191 189
SBA gains 156 287
BOLI income 1,334 859
Other 2,870 3,744
Noninterest income, excluding securities gains (losses) 15,825 17,785
Securities losses, net (452) (114)
Total Noninterest Income 15,373 17,671
Noninterest Expense:    
Salaries and wages 28,219 21,393
Employee benefits 5,501 4,980
Outsourced data processing costs 6,156 4,468
Telephone / data lines 733 785
Occupancy 3,986 3,789
Furniture and equipment 1,426 1,254
Marketing 1,171 1,168
Legal and professional fees 4,789 2,582
FDIC assessments 789 526
Amortization of intangibles 1,446 1,211
Foreclosed property expense and net gain on sale (164) (65)
Provision for credit losses on unfunded commitments 142 0
Other 4,723 4,029
Total Noninterest Expense 58,917 46,120
Income Before Income Taxes 26,422 43,876
Provision for income taxes 5,834 10,157
Net Income $ 20,588 $ 33,719
Net income per share of common stock    
Diluted (in dollars per share) $ 0.33 $ 0.60
Basic (in dollars per share) $ 0.34 $ 0.61
Average common shares outstanding    
Diluted (in shares) 61,704 55,992
Basic (in shares) 61,127 55,271
v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Statement of Comprehensive Income [Abstract]    
Net Income $ 20,588 $ 33,719
Available-for-sale securities:    
Unrealized losses on available-for-sale securities, net of tax benefit of $20.6 million and $3.1 million for the three months ended March 31, 2022 and 2021, respectively (66,012) (10,851)
Amortization of unrealized gains and losses on securities transferred to held-to-maturity, net of tax expense of $7 thousand and $6 thousand for the three months ended March 31, 2022 and 2021, respectively 36 24
Available-for-sale securities, net of tax (65,976) (10,827)
Unrealized losses on derivatives designated as cash flow hedges, net of reclassifications to income, net of tax benefit of $22 thousand and $47 thousand for the three months ended March 31, 2022 and 2021, respectively (64) (138)
Total other comprehensive loss (66,040) (10,965)
Comprehensive (Loss) Income $ (45,452) $ 22,754
v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Statement of Comprehensive Income [Abstract]    
Unrealized losses on available-for-sale securities, tax benefit $ 20,600 $ 3,100
Amortization of unrealized gains and losses on securities transferred to held-to-maturity, tax expense 7 6
Unrealized losses on cash flow hedging derivatives, net of reclassifications, tax benefit $ 22 $ 47
v3.22.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Assets    
Cash and due from banks $ 351,128 $ 238,750
Interest bearing deposits with other banks 871,387 498,979
Total cash and cash equivalents 1,222,515 737,729
Time deposits with other banks 5,975 0
Debt securities:    
Securities available-for-sale (at fair value) 1,706,619 1,644,319
Securities held-to-maturity (fair value $709.5 million at March 31, 2022 and $627.4 million at December 31, 2021) 747,004 638,640
Total debt securities 2,453,623 2,282,959
Loans held for sale (at fair value) 20,615 31,791
Loans 6,451,217 5,925,029
Less: Allowance for credit losses (89,838) (83,315)
Loans, net of allowance for credit losses 6,361,379 5,841,714
Bank premises and equipment, net 74,617 72,404
Other real estate owned 11,567 13,618
Goodwill 286,606 252,154
Other intangible assets, net 21,549 14,845
Bank owned life insurance 206,375 205,041
Net deferred tax assets 47,222 27,321
Other assets 192,774 201,857
Total Assets 10,904,817 9,681,433
Liabilities    
Deposits 9,243,768 8,067,589
Securities sold under agreements to repurchase, maturing within 30 days 120,922 121,565
Subordinated debt 71,716 71,646
Other liabilities 112,126 109,897
Total Liabilities 9,548,532 8,370,697
Shareholders' Equity    
Common stock, par value $0.10 per share, authorized 120,000,000 shares, issued 61,640,882 and outstanding 61,238,897 at March 31, 2022, and authorized 120,000,000, issued 58,909,369 and outstanding 58,504,250 shares at December 31, 2021 6,124 5,850
Other shareholders' equity 1,350,161 1,304,886
Total Shareholders' Equity 1,356,285 1,310,736
Total Liabilities and Shareholders' Equity $ 10,904,817 $ 9,681,433
v3.22.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Statement of Financial Position [Abstract]    
Held to maturity, fair value $ 709,492 $ 627,398
Common stock, par value (in dollars per share) $ 0.10 $ 0.10
Common stock, shares authorized (in shares) 120,000,000 120,000,000
Common stock, shares issued (in shares) 61,640,882 58,909,369
Common stock, shares outstanding (in shares) 61,238,897 58,504,250
v3.22.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities    
Net income $ 20,588 $ 33,719
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,420 1,440
Amortization of premiums and discounts on securities, net 361 2,362
Amortization of operating lease right-of-use assets 990 1,102
Other amortization and accretion, net (1,173) (4,437)
Stock based compensation 1,419 1,759
Origination of loans designated for sale (57,625) (163,863)
Sale of loans designated for sale 71,210 177,516
Provision for credit losses 6,556 (5,715)
Deferred income taxes 866 2,320
Gains on sale of loans (2,324) (5,570)
Gains on sale and write-downs of other real estate owned (255) (167)
Losses on disposition of fixed assets and write-downs upon transfer of bank premises to other real estate owned 31 315
Changes in operating assets and liabilities, net of effects from acquired companies:    
Net decrease in other assets 15,471 4,658
Net (decrease) increase in other liabilities (3,001) 1,659
Net cash provided by operating activities 54,534 47,098
Cash Flows from Investing Activities    
Maturities and repayments of debt securities available-for-sale 95,398 155,860
Maturities and repayments of debt securities held-to-maturity 26,430 43,291
Proceeds from sale of debt securities available-for-sale 26,011 0
Purchases of debt securities available-for-sale (244,551) (36,512)
Purchases of debt securities held-to-maturity (134,941) (160,031)
Maturities of time deposits with other banks 498 0
Net new loans and principal repayments (44,256) 79,353
Purchases of loans held for investment (111,292) 0
Proceeds from sale of other real estate owned 3,742 1,340
Additions to other real estate owned (319) (654)
Proceeds from sale of FHLB and Federal Reserve Bank Stock 0 2,704
Purchase of FHLB and Federal Reserve Bank Stock (3,347) (55)
Net cash from bank acquisitions 208,933 0
Additions to bank premises and equipment (825) (341)
Net cash used in investing activities (178,519) 84,955
Cash Flows from Financing Activities    
Net increase in deposits 613,899 453,188
Net decrease in repurchase agreements (643) (10,438)
Stock based employee benefit plans 3,509 434
Dividends paid (7,994) 0
Net cash provided by financing activities 608,771 443,184
Net increase in cash and cash equivalents 484,786 575,237
Cash and cash equivalents at beginning of period 737,729 404,088
Cash and cash equivalents at end of period 1,222,515 979,325
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 1,673 3,695
Recognition of operating lease right-of-use assets, other than through bank acquisitions 3,370 0
Recognition of operating lease liabilities, other than through bank acquisitions 3,370 0
Supplemental disclosure of non-cash investing activities:    
Transfer of debt securities from available-for-sale to held-to-maturity 0 210,805
Transfers from bank premises to other real estate owned $ 1,008 $ 3,318
v3.22.1
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Paid-in Capital
Retained Earnings
Treasury Stock
Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2020   55,243        
Beginning balance at Dec. 31, 2020 $ 1,130,402 $ 5,524 $ 856,092 $ 256,701 $ (8,285) $ 20,370
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Comprehensive income 22,754     33,719   (10,965)
Stock based compensation expense 1,759   1,759      
Common stock transactions related to stock based employee benefit plans (in shares)   20        
Common stock transactions related to stock based employee benefit plans (406) $ 2     (408)  
Common stock issued for stock options (in shares)   31        
Common stock issued for stock options 840 $ 3 837      
Increase (decrease) in shares during period (in shares)   51        
Increase (decrease) in stockholders' equity during period 24,947 $ 5 2,596 33,719 (408) (10,965)
Ending balance (in shares) at Mar. 31, 2021   55,294        
Ending balance at Mar. 31, 2021 1,155,349 $ 5,529 858,688 290,420 (8,693) 9,405
Beginning balance (in shares) at Dec. 31, 2021   58,504        
Beginning balance at Dec. 31, 2021 1,310,736 $ 5,850 963,851 358,598 (10,569) (6,994)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Comprehensive income (45,452)     20,588   (66,040)
Stock based compensation expense 1,419   1,419      
Common stock transactions related to stock based employee benefit plans (in shares)   7        
Common stock transactions related to stock based employee benefit plans 106 $ 1 (5)   110  
Common stock issued for stock options (in shares)   178        
Common stock issued for stock options 3,403 $ 18 3,385      
Issuance of common stock, pursuant to acquisition (in shares)   2,550        
Issuance of common stock, pursuant to acquisitions 90,234 $ 255 89,979      
Conversion of options, pursuant to acquisitions 3,833   3,833      
Dividends on common stock (7,994)     (7,994)    
Increase (decrease) in shares during period (in shares)   2,735        
Increase (decrease) in stockholders' equity during period 45,549 $ 274 98,611 12,594 110 (66,040)
Ending balance (in shares) at Mar. 31, 2022   61,239        
Ending balance at Mar. 31, 2022 $ 1,356,285 $ 6,124 $ 1,062,462 $ 371,192 $ (10,459) $ (73,034)
v3.22.1
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical)
 3 Months Ended
Mar. 31, 2022
$ / shares
Statement of Stockholders' Equity [Abstract]  
Dividends on common stock (in dollars per share) $ 0.13
v3.22.1
Basis of Presentation
 3 Months Ended
Mar. 31, 2022
Accounting Policies [Abstract]  
Basis of Presentation Basis of Presentation
Basis of Presentation: The accompanying unaudited condensed consolidated financial statements of Seacoast Banking Corporation of Florida and its subsidiaries (the “Company”) have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Certain prior period amounts have been reclassified to conform to the current period presentation.
Operating results for the three months ended March 31, 2022, are not necessarily indicative of the results that may be expected for the year ending December 31, 2022, or any other period. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.
Use of Estimates: The preparation of these condensed consolidated financial statements requires management to make judgments in the application of certain accounting policies that involve significant estimates and assumptions. The Company has established policies and control procedures that are intended to ensure valuation methods are well controlled and applied consistently from period to period. These estimates and assumptions, which may materially affect the reported amounts of certain assets, liabilities, revenues and expenses, are based on information available as of the date of the financial statements, and changes in this information over time and the use of revised estimates and assumptions could materially affect amounts reported in subsequent financial statements. Specific areas, among others, requiring the application of management’s estimates include determination of the allowance for credit losses, acquisition accounting and purchased loans, intangible assets and impairment testing, other fair value measurements and contingent liabilities.
Recently Issued Accounting Standards, Not Yet Adopted
In March 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022-02, Financial Instruments Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures. ASU 2022-02 eliminates the accounting guidance for troubled debt restructurings (“TDRs”) in ASC 310-40, Receivables - Troubled Debt Restructurings by Creditors, and introduces new disclosures related to modifications with borrowers that are experiencing financial difficulties. ASU 2022-02 also requires the disclosure of current-period gross writeoffs by year of origination for financing receivables held at amortized cost. The amendments in ASU 2022-02 are effective for fiscal years beginning after December 15, 2022, and early adoption is permitted. The impact to the Company’s consolidated financial statements of the adoption of ASU 2022-02 is not expected to be material.
v3.22.1
Earnings per Share
 3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Earnings per Share Earnings per Share
Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted average number of shares of common stock outstanding during the period.

For the three months ended March 31, 2022 and March 31, 2021, no options to purchase shares of the Company's common stock were anti-dilutive.
Three Months Ended March 31,
(Dollars in thousands, except per share data)20222021
Basic earnings per share  
Net income$20,588 $33,719 
Average common shares outstanding61,127 55,271 
Net income per share$0.34 $0.61 
Diluted earnings per share
Net income$20,588 $33,719 
Average common shares outstanding61,127 55,271 
Add: Dilutive effect of employee restricted stock and stock options577 721 
Average diluted shares outstanding61,704 55,992 
Net income per share$0.33 $0.60 
Net income has not been allocated to unvested restricted stock awards that are participating securities because the amounts that would be allocated are not material to net income per share of common stock. Unvested restricted stock awards that are participating securities represent less than one percent of all of the outstanding shares of common stock for each of the periods presented.
v3.22.1
Securities
 3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Securities Securities
The amortized cost, gross unrealized gains and losses and fair value of securities available-for-sale and held-to-maturity at March 31, 2022 and December 31, 2021 are summarized as follows:
 March 31, 2022
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Debt securities available-for-sale    
U.S. Treasury securities and obligations of U.S. government agencies$6,240 $54 $(13)$6,281 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,335,336 829 (91,495)1,244,670 
Private mortgage-backed securities and collateralized mortgage obligations114,286 284 (3,274)111,296 
Collateralized loan obligations315,168 — (2,044)313,124 
Obligations of state and political subdivisions31,533 518 (803)31,248 
Totals$1,802,563 $1,685 $(97,629)$1,706,619 
Debt securities held-to-maturity
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$747,004 $15,397 $(52,909)$709,492 
Totals$747,004 $15,397 $(52,909)$709,492 
 December 31, 2021
(In thousands)Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Debt securities available-for-sale    
U.S. Treasury securities and obligations of U.S. government agencies$6,466 $316 $(3)$6,779 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,234,721 8,308 (20,309)1,222,720 
Private mortgage-backed securities and collateralized mortgage obligations88,096 1,091 (420)88,767 
Collateralized loan obligations292,751 63 (124)292,690 
Obligations of state and political subdivisions31,624 1,740 (1)33,363 
Totals$1,653,658 $11,518 $(20,857)$1,644,319 
Debt securities held-to-maturity
Mortgage-backed securities of U.S. government-sponsored entities$638,640 $3,828 $(15,070)$627,398 
Totals$638,640 $3,828 $(15,070)$627,398 
During the three months ended March 31, 2022, securities with a fair value of $26.0 million obtained in the acquisition of Business Bank of Florida Corp. were immediately sold. No gain or loss was recognized on the sale. There were no other sales of securities during the three months ended March 31, 2022. There were no sales of securities for the three months ended March 31, 2021. Also included in “Securities losses, net” is a decrease of $0.5 million for the three months ended March 31, 2022, and a decrease of $0.1 million for the three months ended March 31, 2021, in the value of an investment in shares of a mutual fund that invests in CRA-qualified debt securities.
During the three months ended March 31, 2021, the Company reclassified debt securities with an amortized cost of $210.8 million from available-for-sale to held-to-maturity, as it has the ability and intent to hold these securities to maturity. These securities had net unrealized gains of $0.8 million at the date of transfer, which will continue to be reported in accumulated other comprehensive income, and will be amortized over the remaining life of the securities as an adjustment of yield. The effect on interest income of the amortization of net unrealized gains is offset by the amortization of the premium on the securities transferred.
At March 31, 2022, debt securities with a fair value of $446.7 million were pledged primarily as collateral for public deposits and secured borrowings.
The amortized cost and fair value of securities at March 31, 2022, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because prepayments of the underlying collateral for these securities may occur, due to the right to call or repay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
March 31, 2022
 Held-to-MaturityAvailable-for-Sale
(In thousands)Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Due in less than one year$— $— $2,776 $2,790 
Due after one year through five years— — 14,493 14,807 
Due after five years through ten years— — 5,705 5,698 
Due after ten years— — 14,799 14,234 
 — — 37,773 37,529 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities747,004 709,492 1,335,336 1,244,670 
Private mortgage-backed securities and collateralized mortgage obligations— — 114,286 111,296 
Collateralized loan obligations— — 315,168 313,124 
Totals$747,004 $709,492 $1,802,563 $1,706,619 
The estimated fair value of a security is determined based on market quotations when available or, if not available, by using quoted market prices for similar securities, pricing models or discounted cash flows analyses, or using observable market data. The tables below indicate the fair value of available-for-sale debt securities with unrealized losses for which no allowance for credit losses has been recorded.
 March 31, 2022
 Less Than 12 Months12 Months or LongerTotal
(In thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
U.S. Treasury securities and obligations of U.S. government agencies$303 $(11)$229 $(2)$532 $(13)
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,089,150 (80,423)100,982 (11,072)1,190,132 (91,495)
Private mortgage-backed securities and collateralized mortgage obligations84,333 (3,109)4,721 (165)89,054 (3,274)
Collateralized loan obligations298,334 (1,928)14,790 (116)313,124 (2,044)
Obligations of state and political subdivisions9,255 (803)— — 9,255 (803)
Totals$1,481,375 $(86,274)$120,722 $(11,355)$1,602,097 $(97,629)
 December 31, 2021
 Less Than 12 Months12 Months or LongerTotal
(In thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
U.S. Treasury securities and obligations of U.S. government agencies$97 $(1)$245 $(2)$342 $(3)
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities955,881 (19,575)11,953 (734)967,834 (20,309)
Private mortgage-backed securities and collateralized mortgage obligations33,640 (173)9,628 (247)43,268 (420)
Collateralized loan obligations123,202 (81)9,461 (43)132,663 (124)
Obligations of state and political subdivisions499 (1)— — 499 (1)
Totals$1,113,319 $(19,831)$31,287 $(1,026)$1,144,606 $(20,857)
At March 31, 2022, the Company had unrealized losses of $91.5 million on mortgage-backed securities and collateralized mortgage obligations issued by government-sponsored entities having a fair value of $1.2 billion. These securities are either explicitly or implicitly guaranteed by the U.S. government and have a long history of no credit losses. The implied government guarantee of principal and interest payments and the high credit rating of the portfolio provide a sufficient basis for the current expectation that there is no risk of loss if default were to occur. Based on the assessment of all relevant factors, the Company believes that the unrealized loss positions on these debt securities are a function of changes in investment spreads and interest rate movements and not changes in credit quality, and expects to recover the entire amortized cost basis of these securities. Therefore, at March 31, 2022, no allowance for credit losses has been recorded.
At March 31, 2022, the Company had $3.3 million of unrealized losses on private label residential and commercial mortgage-backed securities and collateralized mortgage obligations having a fair value of $89.1 million. The collateral underlying these mortgage investments is primarily residential real estate. The securities have average credit support of 24%. Based on the assessment of all relevant factors, the Company believes that the unrealized loss positions on these debt securities are a function of changes in investment spreads and interest rate movements and not changes in credit quality, and expects to recover the entire amortized cost basis of these securities. Therefore, at March 31, 2022, no allowance for credit losses has been recorded.
At March 31, 2022, the Company had $2.0 million of unrealized losses in uncapped 3-month LIBOR floating rate collateralized loan obligations (“CLOs”) having a fair value of $313.1 million. CLOs are special purpose vehicles and those in which the Company has invested acquire nearly all first-lien, broadly syndicated corporate loans across a diversified band of industries while providing support to senior tranche investors. As of March 31, 2022, all positions held by the Company are in AAA and AA tranches, with average credit support of 37% and 25%, respectively. The Company evaluates the securities for potential credit losses by modeling expected loan-level defaults, recoveries, and prepayments for each CLO security. Based on the assessment of all relevant factors, the Company believes that the unrealized loss positions on these debt securities are a function of changes in investment spreads and interest rate movements and not changes in credit quality, and expects to recover the entire amortized cost basis of these securities. Therefore, at March 31, 2022, no allowance for credit losses has been recorded.
All HTM debt securities are issued by government-sponsored entities, which are either explicitly or implicitly guaranteed by the U.S. government and have a long history of no credit losses. While the potential for default on these securities may be something greater than zero, the long history with no credit losses, the implied government guarantee of principal and interest payments and the high credit rating of the HTM portfolio provide sufficient basis for the current expectation that there is no risk of loss if default were to occur. As a result, as of March 31, 2022, no allowance for credit losses has been recorded.
Included in Other Assets at March 31, 2022 is $38.1 million of Federal Home Loan Bank and Federal Reserve Bank stock stated at par value. The Company has not identified events or changes in circumstances, which may have a significant adverse effect on the fair value of these cost method investment securities. Accrued interest receivable on AFS and HTM debt securities of $3.4 million and $1.2 million, respectively, at March 31, 2022, and $3.4 million and $1.0 million, respectively, at December 31, 2021, is included in Other Assets. Also included in Other Assets is an $8.9 million investment in a CRA-qualified mutual fund carried at fair value.
The Company holds 11,330 shares of Visa Class B stock, which, following resolution of Visa litigation, will be converted to Visa Class A shares. Under the current conversion ratio that became effective December 29, 2021, the Company would receive 1.6181 shares of Class A stock for each share of Class B stock for a total of 18,333 shares of Visa Class A stock. The ownership of Visa stock is related to prior ownership in Visa's network while Visa operated as a cooperative, and is recorded on the Company's financial records at a zero basis.
v3.22.1
Loans
 3 Months Ended
Mar. 31, 2022
Receivables [Abstract]  
Loans Loans
Loans held for investment are categorized into the following segments:
•Construction and land development: Loans are extended to both commercial and consumer customers which are collateralized by and for the purpose of funding land development and construction projects, including 1-4 family residential construction, multi-family property and non-farm residential property where the primary source of repayment is from proceeds of the sale, refinancing or permanent financing of the property.
•Commercial real estate - owner-occupied: Loans are extended to commercial customers for the purpose of acquiring real estate to be occupied by the borrower's business. These loans are collateralized by the subject property and the repayment of these loans is largely dependent on the performance of the company occupying the property.
•Commercial real estate - non owner-occupied: Loans are extended to commercial customers for the purpose of acquiring commercial property where occupancy by the borrower is not their primary intent. These loans are viewed primarily as cash flow loans, collateralized by the subject property, and the repayment of these loans is largely dependent on rental income from the successful operation of the property.
•Residential real estate: Loans are extended to consumer customers and collateralized primarily by 1-4 family residential properties and include fixed and variable rate mortgages, home equity mortgages, and home equity lines of credit. Loans are primarily written based on conventional loan agency guidelines, including loans that exceed agency value limitations. Sources of repayment may be from the occupant of the residential property or from cash flows on rental income from the successful operation of the property.
•Commercial and financial: Loans are extended to commercial customers. The purpose of the loans can be working capital, physical asset expansion, asset acquisition or other business purposes. Loans may be collateralized by assets owned by the borrower or the borrower's business. Commercial loans are based primarily on the historical and projected cash flow of the borrower's business and secondarily on the capacity of credit enhancements, guarantees and underlying collateral provided by the borrower.
•Consumer: Loans are extended to consumer customers. The segment includes both installment loans and lines of credit which may be collateralized or non-collateralized.
•Paycheck Protection Program (“PPP”): Loans originated under a temporary program established by the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), and extended by the Economic Aid Act. Under the terms of the program, balances may be forgiven if the borrower uses the funds in a manner consistent with the program guidelines, and repayment is guaranteed by the U.S. government.
The following tables present net loan balances by segment as of:
 March 31, 2022
(In thousands)Portfolio LoansAcquired Non-PCD LoansPCD LoansTotal
Construction and land development$226,149 $33,231 $41 $259,421 
Commercial real estate - owner-occupied990,929 273,498 20,088 1,284,515 
Commercial real estate - non owner-occupied1,400,270 488,400 77,480 1,966,150 
Residential real estate1,379,911 214,401 5,333 1,599,645 
Commercial and financial1,007,064 110,161 15,281 1,132,506 
Consumer165,650 4,074 — 169,724 
Paycheck Protection Program29,137 10,119 — 39,256 
Totals$5,199,110 $1,133,884 $118,223 $6,451,217 
 December 31, 2021
(In thousands)Portfolio LoansAcquired Non-PCD LoansPCD LoansTotal
Construction and land development$199,341 $31,438 $45 $230,824 
Commercial real estate - owner occupied983,517 186,812 27,445 1,197,774 
Commercial real estate - non-owner occupied1,278,180 382,554 75,705 1,736,439 
Residential real estate1,261,306 156,957 7,091 1,425,354 
Commercial and financial968,318 84,395 16,643 1,069,356 
Consumer169,507 4,658 10 174,175 
Paycheck Protection Program69,503 21,604 — 91,107 
Totals$4,929,672 $868,418 $126,939 $5,925,029 
The amortized cost basis of loans at March 31, 2022 included net deferred costs of $27.6 million on non-PPP portfolio loans and net deferred fees of $1.0 million on PPP loans. At December 31, 2021, the amortized cost basis included net deferred costs of $31.0 million on non-PPP portfolio loans and net deferred fees of $2.4 million on PPP loans. At March 31, 2022, the remaining fair value adjustments on acquired loans were $24.1 million, or 1.9% of the outstanding acquired loan balances,
compared to $23.1 million, or 2.3% of the acquired loan balances at December 31, 2021. These amounts are accreted into interest income over the remaining lives of the related loans on a level yield basis.
Accrued interest receivable is included within Other Assets and was $15.5 million and $14.7 million at March 31, 2022 and December 31, 2021, respectively.
The following tables present the status of net loan balances as of March 31, 2022 and December 31, 2021.
 March 31, 2022
(In thousands)CurrentAccruing
30-59 Days
Past Due		Accruing
60-89 Days
Past Due		Accruing
Greater
Than
90 Days		NonaccrualTotal
Portfolio Loans      
Construction and land development$225,921 $— $— $— $228 $226,149 
Commercial real estate - owner-occupied990,260 — — — 669 990,929 
Commercial real estate - non owner-occupied1,399,902 35 — — 333 1,400,270 
Residential real estate1,372,141 155 275 — 7,340 1,379,911 
Commercial and financial1,000,983 2,738 — 40 3,303 1,007,064 
Consumer164,430 638 458 — 124 165,650 
Paycheck Protection Program1
29,109 28 — — — 29,137 
Total Portfolio Loans$5,182,746 $3,594 $733 $40 $11,997 $5,199,110 
Acquired Non-PCD Loans
Construction and land development$33,231 $— $— $— $— $33,231 
Commercial real estate - owner-occupied273,498 — — — — 273,498 
Commercial real estate - non owner-occupied487,175 — — — 1,225 488,400 
Residential real estate213,208 — — — 1,193 214,401 
Commercial and financial109,805 282 — — 74 110,161 
Consumer3,837 — — — 237 4,074 
Paycheck Protection Program1
10,119 — — — — 10,119 
 Total Acquired Non-PCD Loans$1,130,873 $282 $— $— $2,729 $1,133,884 
PCD Loans
Construction and land development$37 $— $— $— $4 $41 
Commercial real estate - owner-occupied16,915 — — — 3,173 20,088 
Commercial real estate - non owner-occupied74,256 — — — 3,224 77,480 
Residential real estate4,624 — — — 709 5,333 
Commercial and financial10,908 — — — 4,373 15,281 
Consumer— — — — — — 
Total PCD Loans$106,740 $— $— $— $11,483 $118,223 
Total Loans$6,420,359 $3,876 $733 $40 $26,209 $6,451,217 
1Paycheck Protection Program loans are not reflected as past due when forgiveness applications are being processed by the SBA. Repayment of principal and interest is fully guaranteed by the U.S. government.
 
 December 31, 2021
(In thousands)CurrentAccruing
30-59 Days
Past Due		Accruing
60-89 Days
Past Due		Accruing
Greater
Than
90 Days		NonaccrualTotal
Portfolio Loans      
Construction and land development$199,087 $— $— $— $254 $199,341 
Commercial real estate - owner occupied982,804 — — — 713 983,517 
Commercial real estate - non-owner occupied1,276,582 — — — 1,598 1,278,180 
Residential real estate1,248,160 3,457 143 — 9,546 1,261,306 
Commercial and financial963,828 851 41 — 3,598 968,318 
Consumer168,791 565 23 15 113 169,507 
Paycheck Protection Program1
69,434 — — 69 — 69,503 
 Total Portfolio Loans$4,908,686 $4,873 $207 $84 $15,822 $4,929,672 
Acquired Non-PCD Loans
Construction and land development$31,438 $— $— $— $— $31,438 
Commercial real estate - owner occupied186,652 — 160 — — 186,812 
Commercial real estate - non-owner occupied381,510 — — — 1,044 382,554 
Residential real estate154,981 182 — — 1,794 156,957 
Commercial and financial84,180 — 40 — 175 84,395 
Consumer4,082 135 — — 441 4,658 
Paycheck Protection Program1
21,567 — — 37 — 21,604 
 Total Acquired Non-PCD Loans$864,410 $317 $200 $37 $3,454 $868,418 
PCD Loans
Construction and land development$40 $— $— $— $5 $45 
Commercial real estate - owner occupied24,192 — — — 3,253 27,445 
Commercial real estate - non-owner occupied72,442 — — — 3,263 75,705 
Residential real estate5,386 — — — 1,705 7,091 
Commercial and financial13,547 — — — 3,096 16,643 
Consumer10 — — — — 10 
 Total PCD Loans$115,617 $— $— $— $11,322 $126,939 
Total Loans$5,888,713 $5,190 $407 $121 $30,598 $5,925,029 
1Paycheck Protection Program loans are not reflected as past due when forgiveness applications are being processed by the SBA. Repayment of principal and interest is fully guaranteed by the U.S. government.
All interest accrued but not received for loans placed on nonaccrual is reversed against interest income. Interest subsequently received on such loans is accounted for under the cost-recovery method, whereby interest income is not recognized until the loan balance is reduced to zero. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current, and future payments are reasonably assured. The Company recognized $0.8 million and $0.2 million in interest income on nonaccrual loans during the three months ended March 31, 2022 and 2021, respectively.
The following tables present net balances of loans on nonaccrual status and the related allowance for credit losses, if any, as of:
March 31, 2022
(In thousands)Nonaccrual Loans With No Related AllowanceNonaccrual Loans With an AllowanceTotal Nonaccrual LoansAllowance for Credit Losses
Construction and land development$12 $220 $232 $89 
Commercial real estate - owner-occupied2,871 971 3,842 380 
Commercial real estate - non owner-occupied3,406 1,376 4,782 18 
Residential real estate9,145 97 9,242 35 
Commercial and financial4,084 3,666 7,750 1,945 
Consumer23 338 361 329 
Totals $19,541 $6,668 $26,209 $2,796 
December 31, 2021
(In thousands)Nonaccrual Loans With No Related AllowanceNonaccrual Loans With an AllowanceTotal Nonaccrual LoansAllowance for Credit Losses
Construction and land development$37 $222 $259 $92 
Commercial real estate - owner-occupied2,976 990 3,966 419 
Commercial real estate - non owner-occupied4,490 1,415 5,905 27 
Residential real estate12,358 687 13,045 357 
Commercial and financial2,676 4,193 6,869 2,384 
Consumer29 525 554 525 
Totals$22,566 $8,032 $30,598 $3,804 
Collateral-Dependent Loans
Loans are considered collateral-dependent when the repayment, based on the Company's assessment as of the reporting date, is expected to be provided substantially through the operation or sale of the underlying collateral and there are no other available and reliable sources of repayment. The following table presents collateral-dependent loans as of:
(In thousands)March 31, 2022December 31, 2021
Construction and land development$248 $271 
Commercial real estate - owner-occupied4,581 4,706 
Commercial real estate - non owner-occupied3,619 4,923 
Residential real estate 12,482 16,334 
Commercial and financial8,033 8,741 
Consumer478 741 
Totals $29,441 $35,716 
Loans by Risk Rating
The Company utilizes an internal asset classification system as a means of identifying problem and potential problem loans. The following classifications are used to categorize loans under the internal classification system:
•Pass: Loans that are not problem loans or potential problem loans are considered to be pass-rated.
•Special Mention: Loans that do not currently expose the Company to sufficient risk to warrant classification in the Substandard or Doubtful categories, but possess weaknesses that deserve management's close attention are deemed to be Special Mention.
•Substandard: Loans with the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected.
•Substandard Impaired: Loans typically placed on nonaccrual and considered to be collateral-dependent or accruing TDRs.
•Doubtful: Loans that have all the weaknesses inherent in those classified Substandard with the added characteristic that the weakness present makes collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. The principal balance of loans classified as doubtful are likely to be charged off.
The following tables present the risk rating of loans by year of origination as of:
March 31, 2022
(In thousands)20222021202020192018PriorRevolvingTotal
Construction and Land Development
Risk Ratings:
Pass$15,252 $118,289 $22,227 $30,059 $16,221 $16,738 $40,387 $259,173 
Special Mention— — — — — — — — 
Substandard— — — — — 7 — 7 
Substandard Impaired — — — — 220 21 — 241 
Doubtful— — — — — — — — 
Total$15,252 $118,289 $22,227 $30,059 $16,441 $16,766 $40,387 $259,421 
Commercial real estate - owner-occupied
Risk Ratings:
Pass$57,482 $216,122 $161,838 $192,208 $128,139 $492,637 $11,429 $1,259,855 
Special Mention— — 6,464 5,322 641 1,528 — 13,955 
Substandard— — — — — 5,359 350 5,709 
Substandard Impaired — — — 2,672 310 2,014 — 4,996 
Doubtful— — — — — — — — 
Total$57,482 $216,122 $168,302 $200,202 $129,090 $501,538 $11,779 $1,284,515 
Commercial real estate - non owner-occupied
Risk Ratings:
Pass$174,966 $415,704 $227,927 $305,852 $186,363 $578,279 $7,563 $1,896,654 
Special Mention— — — 837 — 10,640 — 11,477 
Substandard— — 4,753 5,351 23,146 19,242 — 52,492 
Substandard Impaired — — 1,044 1,849 — 2,634 — 5,527 
Doubtful— — — — — — — — 
Total$174,966 $415,704 $233,724 $313,889 $209,509 $610,795 $7,563 $1,966,150 
Residential real estate
Risk Ratings:
Pass$14,211 $564,750 $120,963 $90,420 $110,413 $311,573 $370,928 $1,583,258 
Special Mention— — — — 13 1,120 75 1,208 
Substandard— — 338 — 55 1,480 201 2,074 
Substandard Impaired — — 144 134 38 9,777 3,012 13,105 
Doubtful— — — — — — — — 
Total$14,211 $564,750 $121,445 $90,554 $110,519 $323,950 $374,216 $1,599,645 
March 31, 2022
(In thousands)20222021202020192018PriorRevolvingTotal
Commercial and financial
Risk Ratings:
Pass$51,836 $351,023 $176,311 $90,587 $63,294 $89,736 $271,721 $1,094,508 
Special Mention— 504 14,956 449 235 637 385 17,166 
Substandard— — 212 2,466 2,104 3,365 273 8,420 
Substandard Impaired — — 219 4,534 4,615 2,945 99 12,412 
Doubtful— — — — — — — — 
Total$51,836 $351,527 $191,698 $98,036 $70,248 $96,683 $272,478 $1,132,506 
Consumer
Risk Ratings:
Pass$9,049 $46,934 $28,939 $23,469 $15,271 $20,920 $21,607 $166,189 
Special Mention— 7 43 100 38 437 1,748 2,373 
Substandard— 437 — 8 — — 191 636 
Substandard Impaired — 7 21 89 34 153 222 526 
Doubtful— — — — — — — — 
Total$9,049 $47,385 $29,003 $23,666 $15,343 $21,510 $23,768 $169,724 
Paycheck Protection Program
Risk Ratings:
Pass$— $37,304 $1,952 $— $— $— $— $39,256 
Total$— $37,304 $1,952 $— $— $— $— $39,256 
Consolidated
Risk Ratings:
Pass$322,796 $1,750,126 $740,157 $732,595 $519,701 $1,509,883 $723,635 $6,298,893 
Special Mention— 511 21,463 6,708 927 14,362 2,208 46,179 
Substandard— 437 5,303 7,825 25,305 29,453 1,015 69,338 
Substandard Impaired — 7 1,428 9,278 5,217 17,544 3,333 36,807 
Doubtful— — — — — — — — 
Total$322,796 $1,751,081 $768,351 $756,406 $551,150 $1,571,242 $730,191 $6,451,217 
December 31, 2021
(In thousands)20212020201920182017PriorRevolvingTotal
Construction and Land Development
Risk Ratings:
Pass$94,318 $23,860 $38,058 $25,507 $3,995 $15,466 $29,349 $230,553 
Special Mention— — — — — — — — 
Substandard— — — — — — — — 
Substandard Impaired — — — 222 — 49 — 271 
Doubtful— — — — — — — — 
Total$94,318 $23,860 $38,058 $25,729 $3,995 $15,515 $29,349 $230,824 
Commercial real estate - owner-occupied
Risk Ratings:
Pass$205,404 $154,432 $179,786 $132,353 $125,763 $363,986 $10,005 $1,171,729 
Special Mention— 6,527 5,370 649 218 3,250 — 16,014 
Substandard— — — — 3,290 1,610 — 4,900 
Substandard Impaired — — 2,742 310 596 1,483 — 5,131 
Doubtful— — — — — — — — 
Total$205,404 $160,959 $187,898 $133,312 $129,867 $370,329 $10,005 $1,197,774 
December 31, 2021
(In thousands)20212020201920182017PriorRevolvingTotal
Commercial real estate - non owner-occupied
Risk Ratings:
Pass$395,308 $207,824 $298,021 $186,339 $110,990 $460,435 $6,477 $1,665,394 
Special Mention— — 844 — 289 13,850 — 14,983 
Substandard— 4,776 3,009 23,206 1,900 17,266 — 50,157 
Substandard Impaired — 1,044 1,849 — 326 2,686 — 5,905 
Doubtful— — — — — — — — 
Total$395,308 $213,644 $303,723 $209,545 $113,505 $494,237 $6,477 $1,736,439 
Residential real estate
Risk Ratings:
Pass$394,547 $114,364 $90,566 $119,836 $118,556 $213,950 $354,439 $1,406,258 
Special Mention— — — 70 — 1,243 532 1,845 
Substandard— 340 — — 58 422 86 906 
Substandard Impaired — 149 724 39 4,415 8,507 2,511 16,345 
Doubtful— — — — — — — — 
Total$394,547 $114,853 $91,290 $119,945 $123,029 $224,122 $357,568 $1,425,354 
Commercial and financial
Risk Ratings:
Pass$340,826 $180,677 $97,072 $68,232 $39,331 $56,053 $246,568 $1,028,759 
Special Mention530 15,587 — 237 251 84 876 17,565 
Substandard— 371 2,605 3,594 1,436 3,217 339 11,562 
Substandard Impaired — 196 4,561 3,694 1,371 1,520 128 11,470 
Doubtful— — — — — — — — 
Total$341,356 $196,831 $104,238 $75,757 $42,389 $60,874 $247,911 $1,069,356 
Consumer
Risk Ratings:
Pass$45,063 $31,342 $26,194 $17,300 $9,979 $16,019 $25,418 $171,315 
Special Mention— 24 431 37 167 3 1,199 1,861 
Substandard— — 18 — 17 — 223 258 
Substandard Impaired — — 92 23 74 118 434 741 
Doubtful— — — — — — — — 
Total$45,063 $31,366 $26,735 $17,360 $10,237 $16,140 $27,274 $174,175 
Paycheck Protection Program
Risk Ratings:
Pass$87,036 $4,071 $— $— $— $— $— $91,107 
Total$87,036 $4,071 $— $— $— $— $— $91,107 
Consolidated
Risk Ratings:
Pass$1,562,502 $716,570 $729,697 $549,567 $408,614 $1,125,909 $672,256 $5,765,115 
Special Mention530 22,138 6,645 993 925 18,430 2,607 52,268 
Substandard— 5,487 5,632 26,800 6,701 22,515 648 67,783 
Substandard Impaired — 1,389 9,968 4,288 6,782 14,363 3,073 39,863 
Doubtful— — — — — — — — 
Total$1,563,032 $745,584 $751,942 $581,648 $423,022 $1,181,217 $678,584 $5,925,029 

Troubled Debt Restructured Loans
The Company’s TDR concessions granted to certain borrowers generally do not include forgiveness of principal balances, but may include interest rate reductions, an extension of the amortization period and/or converting the loan to interest only for a limited period of time. Loan modifications are not reported in calendar years after modification if the loans were modified at an interest rate equal to the yields of new loan originations with comparable risk and the loans are performing based on the terms of the restructuring agreements.
The following table presents loans that were modified in a troubled debt restructuring during the three months ended March 31, 2022 and March 31, 2021:
Three Months Ended March 31,
20222021
(In thousands)Number of ContractsPre-Modification Outstanding Recorded InvestmentPost-Modification Outstanding Recorded InvestmentNumber of ContractsPre-Modification Outstanding Recorded InvestmentPost-Modification Outstanding Recorded Investment
Construction and land development— $— $— — $— $— 
Commercial real estate - owner-occupied— — — — — — 
Commercial real estate - non owner-occupied— — — — — — 
Residential real estate3 785 785 1 27 27 
Commercial and financial1 33 33 — — — 
Consumer4 22 22 — — — 
Totals8 $840 $840 1 $27 $27 
The TDRs described above resulted in a specific allowance for credit losses of $0.2 million as of March 31, 2022 and March 31, 2021. During the three months ended March 31, 2022, there was one default totaling $33 thousand on a loan that had been modified to a TDR within the preceding twelve months. During the three months ended March 31, 2021, there were no defaults on loans that had been modified to a TDR within the preceding twelve months. The Company considers a loan to have defaulted when it becomes 90 days or more delinquent under the modified terms, has been transferred to nonaccrual status, is charged off or has been transferred to other real estate owned. For loans measured based on the present value of expected future cash flows, $5,000 for each of the three months ended March 31, 2022, and 2021 was included in interest income and represents the change in present value attributable to the passage of time.
v3.22.1
Allowance for Credit Losses
 3 Months Ended
Mar. 31, 2022
Receivables [Abstract]  
Allowance for Credit Losses Allowance for Credit Losses
Activity in the allowance for credit losses is summarized as follows:
 Three Months Ended March 31, 2022
(In thousands)Beginning
Balance		Initial Allowance on PCD Loans Acquired During the PeriodProvision
for Credit
Losses		Charge-
Offs		RecoveriesTDR
Allowance
Adjustments		Ending
Balance
Construction and land development$2,751 $— $(493)$— $10 $— $2,268 
Commercial real estate - owner-occupied8,579 — 715 — — — 9,294 
Commercial real estate - non owner-occupied36,617 31 7,274 — — — 43,922 
Residential real estate12,811 17 1,060 (1)191 (3)14,075 
Commercial and financial19,744 3 (1,628)(569)177 — 17,727 
Consumer2,813 — (372)(95)208 (2)2,552 
Paycheck Protection Program— — — — — — — 
Totals$83,315 $51 $6,556 $(665)$586 $(5)$89,838 

 Three Months Ended March 31, 2021
(In thousands)Beginning
Balance		Provision
for Credit
Losses		Charge-
Offs		RecoveriesTDR
Allowance
Adjustments		Ending
Balance
Construction and land development$4,920 $(510)$— $18 $— $4,428 
Commercial real estate - owner occupied9,868 (76)— — — 9,792 
Commercial real estate - non-owner occupied38,266 (2,038)— 1 — 36,229 
Residential real estate17,500 (3,372)— 229 (4)14,353 
Commercial and financial18,690 775 (756)207 — 18,916 
Consumer3,489 (494)(185)116 (1)2,925 
Paycheck Protection Program— — — — — — 
Totals$92,733 $(5,715)$(941)$571 $(5)$86,643 
Management establishes the allowance using relevant available information from both internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts to project losses over a three-year forecast period. Forecast data is sourced primarily from Moody’s Analytics (“Moody’s”), a firm widely recognized for its research, analysis, and economic forecasts. For portfolio segments with a weighted average life longer than three years, the Company reverts to longer-term historical loss experience to estimate losses over the remaining life of the loans within each segment.

Historical credit losses provide the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, loan to value ratios, borrower credit characteristics, loan seasoning or term as well as for changes in current and forecasted environmental conditions, such as changes in unemployment rates, property values, occupancy rates, and other macroeconomic metrics.
As of March 31, 2022, the Company utilized Moody’s most recent “U.S. Macroeconomic Outlook Baseline” scenario and considered the uncertainty associated with the assumptions in the Baseline scenario, including actions taken by the Federal Reserve with regard to monetary policy and interest rates and the potential impact of those actions, the Russian invasion of Ukraine and the magnitude of the resulting market disruption, and the potential impact of persistent high inflation on economic growth. Outcomes in any or all of these factors could differ from the Baseline scenario, and the Company incorporated qualitative considerations reflecting the risk of uncertain economic conditions, and for additional dimensions of risk not captured in the quantitative model.
The following section discusses changes in the level of reserves for the three months ended March 31, 2022.
In the Construction and Land Development segment, the decrease in reserves reflects continuing low historical loss rates for this segment and improved economic variables relating to residential real estate. In this segment, the primary source of repayment is typically from proceeds of the sale, refinancing, or permanent financing of the underlying property; therefore, industry and collateral type and estimated collateral values are among the relevant factors in assessing expected losses.
In the Commercial Real Estate - Owner-Occupied segment, increases in the allowance correspond with the increase in loan balances during the quarter. Risk characteristics include but are not limited to, collateral type, loan seasoning, and lien position.
In the Commercial Real Estate - Non Owner-Occupied segment, the increase in reserves reflects the increase in loan balances and changes in economic forecast variables including unemployment. Repayment is often dependent upon rental income from the successful operation of the underlying property. Loan performance may be adversely affected by general economic conditions or conditions specific to the real estate market, including property types. Collateral type, loan seasoning, and lien position are among the risk characteristics analyzed for this segment.
The Residential Real Estate segment includes first mortgages secured by residential property, and home equity lines of credit. The increase in reserves reflects the impact of higher loan balances. Risk characteristics considered for this segment include, but are not limited to, collateral type, lien position, loan to value ratios, and loan seasoning.
In the Commercial and Financial segment, borrowers are primarily small to medium sized professional firms and other businesses, and loans are generally supported by projected cash flows of the business, collateralized by business assets, and/or guaranteed by the business owners. The decrease in reserves is attributed to improved economic forecast variables including business profitability. Industry, collateral type, estimated collateral values and loan seasoning are among the relevant factors in assessing expected losses.
Consumer loans include installment and revolving lines, loans for automobiles, boats, and other personal or family purposes. Risk characteristics considered for this segment include, but are not limited to, collateral type, loan to value ratios, loan seasoning and FICO score. The decline in the reserve reflects lower loan balances and improved economic forecast variables.
Balances outstanding under the Paycheck Protection Program are guaranteed by the U.S. government and have not been assigned a reserve.
The allowance for credit losses is composed of specific allowances for loans individually evaluated and general allowances for loans grouped into loan pools based on similar characteristics, which are collectively evaluated. The Company’s loan portfolio and related allowance at March 31, 2022 and December 31, 2021 is shown in the following tables:
 March 31, 2022
 Individually Evaluated Collectively EvaluatedTotal
(In thousands)Recorded
Investment		Associated
Allowance		Recorded
Investment		Associated
Allowance		Recorded
Investment		Associated
Allowance
Construction and land development$248 $89 $259,173 $2,179 $259,421 $2,268 
Commercial real estate - owner occupied4,996 380 1,279,519 8,914 1,284,515 9,294 
Commercial real estate - non owner-occupied5,527 787 1,960,623 43,135 1,966,150 43,922 
Residential real estate13,154 312 1,586,491 13,763 1,599,645 14,075 
Commercial and financial13,172 2,511 1,119,334 15,216 1,132,506 17,727 
Consumer540 481 169,184 2,071 169,724 2,552 
Paycheck Protection Program— — 39,256 — 39,256 — 
Totals$37,637 $4,560 $6,413,580 $85,278 $6,451,217 $89,838 
 December 31, 2021
 Individually Evaluated Collectively Evaluated
 Total
(In thousands)Recorded
Investment		Associated
Allowance		Recorded
Investment		Associated
Allowance		Recorded
Investment		Associated
Allowance
Construction and land development$271 $92 $230,553 $2,659 $230,824 $2,751 
Commercial real estate - owner occupied5,131 419 1,192,643 8,160 1,197,774 8,579 
Commercial real estate - non owner-occupied5,905 27 1,730,534 36,590 1,736,439 36,617 
Residential real estate16,345 646 1,409,009 12,165 1,425,354 12,811 
Commercial and financial11,470 2,885 1,057,886 16,859 1,069,356 19,744 
Consumer741 685 173,434 2,128 174,175 2,813 
Paycheck Protection Program— — 91,107 — 91,107 — 
Totals$39,863 $4,754 $5,885,166 $78,561 $5,925,029 $83,315 
v3.22.1
Derivatives
 3 Months Ended
Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives Derivatives
Back-to-Back Swaps
The Company offers interest rate swaps when requested by customers to allow them to hedge the risk of rising interest rates on their variable rate loans. Upon entering into these swaps, the Company enters into offsetting positions with counterparties in order to minimize the interest rate risk. These back-to-back swaps qualify as freestanding financial derivatives with the fair values reported in other assets and other liabilities. The Company is party to master netting arrangements with its financial institution counterparties; however, the Company does not offset assets and liabilities under the arrangements for financial statement presentation purposes. Gains and losses on these back-to-back swaps, which offset, are recorded through noninterest income. No net gains or losses have been recognized to date on these instruments. As of March 31, 2022, the interest rate swaps had an aggregate notional value of $209.9 million, with a fair value of $8.9 million recorded in other assets and other liabilities. As of December 31, 2021, the interest rate swaps had an aggregate notional value of $175.4 million, with a fair value of $8.0 million recorded in other assets and other liabilities. The weighted average maturity was 6.5 years at March 31, 2022 and 6.7 years at December 31, 2021.
Interest Rate Floors Designated as Cash Flow Hedges
The Company has entered into interest rate floor contracts to mitigate exposure to the variability of future cash flows due to changes in interest rates on certain segments of its variable-rate loans. During 2020, the Company entered into two interest rate floor contracts, each with a notional amount of $150.0 million, maturing in October 2023 and November 2023. The Company considers these derivatives to be highly effective at achieving offsetting changes in cash flows attributable to changes in interest rates and has designated them as cash flow hedges. Therefore, changes in the fair value of these derivative instruments are recognized in other comprehensive income. Amortization of the premium paid on cash flow hedges is recognized in earnings over the term of the hedge in the same caption as the hedged item. For the three months ended March 31, 2022, the Company recognized a loss through other comprehensive income of $0.2 million, and reclassified $0.1 million, out of accumulated other comprehensive income and into interest income. As of March 31, 2022 and December 31, 2021, the interest rate floors had a fair value of $0.1 million and $0.3 million, respectively, recorded in other assets in the consolidated balance sheet. Over the next twelve months the Company expects to reclassify $0.4 million from accumulated other comprehensive income into interest income related to these agreements.
(In thousands)Notional AmountFair ValueBalance Sheet Category
At March 31, 2022
Back-to-back swaps$209,904 $8,923 Other Assets and Other Liabilities
Interest rate floors300,000 122 Other Assets
At December 31, 2021
Back-to-back swaps$175,392 $8,022 Other Assets and Other Liabilities
Interest rate floors300,000 290 Other Assets
v3.22.1
Securities Sold Under Agreements to Repurchase
 3 Months Ended
Mar. 31, 2022
Brokers and Dealers [Abstract]  
Securities Sold Under Agreements to Repurchase Securities Sold Under Agreements to Repurchase
Securities sold under agreements to repurchase are accounted for as secured borrowings. For securities sold under agreements to repurchase, the Company is required to pledge collateral with value sufficient to fully collateralize borrowings. Company securities pledged were as follows by collateral type and maturity as of: 
(In thousands)March 31, 2022December 31, 2021
Fair value of pledged securities - overnight and continuous:
Mortgage-backed securities and collateralized mortgage obligations of U.S. government sponsored entities$152,817 $134,577 
v3.22.1
Equity Capital
 3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
Equity Capital Equity CapitalThe Company is well capitalized and at March 31, 2022, the Company and the Company’s principal banking subsidiary, Seacoast Bank, exceeded the common equity Tier 1 (CET1) capital ratio regulatory threshold of 6.5% for well-capitalized institutions under the Basel III standardized transition approach, as well as risk-based and leverage ratio requirements for well capitalized banks under the regulatory framework for prompt corrective action.
v3.22.1
Contingent Liabilities
 3 Months Ended
Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Contingent Liabilities Contingent LiabilitiesThe Company and its subsidiaries, because of the nature of their business, are at all times subject to numerous legal actions, threatened or filed. Management presently believes that none of the legal proceedings to which it is a party are likely to have a materially adverse effect on the Company’s consolidated financial condition, operating results or cash flows.
v3.22.1
Fair Value
 3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Fair Value Fair Value
Under ASC Topic 820, fair value measurements for items measured at fair value on a recurring and nonrecurring basis at March 31, 2022 and December 31, 2021 included:
(In thousands)Fair Value
Measurements		Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
At March 31, 2022    
Financial Assets
Available-for-sale debt securities1
$1,706,619 $191 $1,706,428 $— 
Derivative financial instruments2
9,045 — 9,045 — 
Loans held for sale2
20,615 — 20,615 — 
Loans3
8,395 — 1,517 6,878 
Other real estate owned4
11,567 — 2,420 9,147 
Equity securities5
8,864 8,864 — — 
Financial Liabilities
Derivative financial instruments2
$8,923 $— $8,923 $— 
At December 31, 2021
Financial Assets
Available-for-sale debt securities1
$1,644,319 $197 $1,644,122 $— 
Derivative financial instruments2
8,312 — 8,312 — 
Loans held for sale2
31,791 — 31,791 — 
Loans3
8,443 — 1,558 6,885 
Other real estate owned4
13,618 — — 13,618 
Equity securities5
9,316 9,316 — — 
Financial Liabilities
Derivative financial instruments2
$8,022 $— $8,022 $— 
1See “Note 3 – Securities” for further detail of fair value of individual investment categories.
2Recurring fair value basis determined using observable market data.
3See “Note 4 – Loans.” Nonrecurring fair value adjustments to collateral-dependent loans reflect full or partial write-downs that are based on current appraised values of the collateral in accordance with ASC Topic 310.
4Fair value is measured on a nonrecurring basis in accordance with ASC Topic 360.
5An investment in shares of a mutual fund that invests primarily in CRA-qualified debt securities, reported at fair value in Other Assets. Recurring fair value basis is determined using market quotations.
Available-for-sale debt securities: Level 1 securities consist of U.S. Treasury securities. Other securities are reported at fair value utilizing Level 2 inputs. The estimated fair value of a security is determined based on market quotations when available or, if not available, by using quoted market prices for similar securities, pricing models or discounted cash flow analyses, using observable market data where available.
The Company reviews the prices supplied by independent pricing services, as well as their underlying pricing methodologies, for reasonableness and to ensure such prices are aligned with traditional pricing matrices. The fair value of collateralized loan obligations is determined from broker quotes. From time to time, the Company will validate, on a sample basis, prices supplied by the independent pricing service by comparison to prices obtained from other brokers and third-party sources or derived using internal models.
Derivative financial instruments: The Company offers interest rate swaps to certain loan customers to allow them to hedge the risk of rising interest rates on their variable rate loans. The Company originates a variable rate loan and enters into a variable-to-fixed interest rate swap with the customer. The Company also enters into an offsetting swap with a correspondent bank. These back-to-back agreements are intended to offset each other and allow the Company to originate a variable rate loan, while
providing a contract for fixed interest payments for the customer. The fair value of these derivatives is based on a discounted cash flow approach. Due to the observable nature of the inputs used in deriving the fair value of these derivative contracts, the valuation of interest rate swaps is classified as Level 2. Other derivatives consist of interest rate floors designated as cash flow hedges. The fair values of these instruments are based upon the estimated amount the Company would receive or pay to terminate the instruments, taking into account current interest rates and, when appropriate, the current creditworthiness of the counterparties. Interest rate floors designated as cash flow hedges are classified within Level 2.
Loans held for sale: Fair values are based upon estimated values to be received from independent third party purchasers. These loans are intended for sale and the Company believes that the fair value is the best indicator of the resolution of these loans. Fair market value changes occur due to changes in interest rates, the borrower’s credit, the secondary loan market and the market for a borrower’s debt. Interest income is recorded based on the contractual terms of the loan and in accordance with the Company’s policy on loans held for investment. None of the loans were 90 days or more past due or on nonaccrual as of March 31, 2022 and December 31, 2021.
The aggregate fair value and contractual balance of loans held for sale as of March 31, 2022 and December 31, 2021 is as follows:
(In thousands)March 31, 2022December 31, 2021
Aggregate fair value$20,615 $31,791 
Contractual balance20,087 30,963 
Excess528 828 
Loans: Loans carried at fair value consist of collateral-dependent real estate loans. Fair value is based on recent real estate appraisals less estimated costs of sale. These evaluations may use either a single valuation approach or a combination of approaches, such as comparative sales, cost and/or income approach. A significant unobservable input in the income approach is the estimated capitalization rate for a given piece of collateral. At March 31, 2022 capitalization rates utilized to determine fair value of the underlying collateral averaged approximately 7.0%. Adjustments to comparable sales may be made by an appraiser to reflect local market conditions or other economic factors and may result in changes in the fair value of an asset over time. As such, the fair value of these loans is considered level 3 in the fair value hierarchy. Collateral-dependent loans measured at fair value totaled $12.7 million with a specific reserve of $4.3 million at March 31, 2022, compared to $13.1 million with a specific reserve of $4.7 million at December 31, 2021.
Other real estate owned: When appraisals are used to determine fair value and the appraisals are based on a market approach, the fair value of other real estate owned (“OREO”) is classified as a Level 2 input. When the fair value of OREO is based on appraisals which require significant adjustments to market-based valuation inputs or apply an income approach based on unobservable cash flows, the fair value of OREO is classified as Level 3.
Transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstances that caused the transfer, which generally coincides with the Company’s monthly and/or quarterly valuation process. During the three months ended March 31, 2022, an updated appraisal was obtained on a former branch property, and the value was transferred from Level 3 to Level 2. There were no transfers during the three months ended March 31, 2021.
The carrying amount and fair value of the Company’s other financial instruments that were not disclosed previously in the balance sheet and for which carrying amount is not fair value as of March 31, 2022 and December 31, 2021 is as follows:
(In thousands)Carrying AmountQuoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
March 31, 2022    
Financial Assets    
Debt securities held-to-maturity1
$747,004 $— $709,492 $— 
Time deposits with other banks5,975 — 5,933 — 
Loans, net6,352,984 — — 6,423,158 
Financial Liabilities
Deposit liabilities9,243,768 — — 9,238,260 
Subordinated debt71,716 — 69,416 — 
December 31, 2021
Financial Assets
Debt securities held-to-maturity1

$638,640 $— $627,398 $— 
Loans, net5,833,271 — — 5,907,447 
Financial Liabilities
Deposit liabilities8,067,589 — — 8,067,995 
Subordinated debt71,646 — 69,348 — 
1See “Note 3 – Securities” for further detail of individual investment categories.
The short maturity of Seacoast’s assets and liabilities results in having a significant number of financial instruments whose fair value equals or closely approximates carrying value. Such financial instruments are reported in the following balance sheet captions: cash and due from banks, interest bearing deposits with other banks, FHLB borrowings and securities sold under agreements to repurchase, maturing within 30 days.
The following methods and assumptions were used to estimate the fair value of each class of financial instrument for which it is practicable to estimate that value at March 31, 2022 and December 31, 2021:
Held-to-maturity debt securities: These debt securities are reported at fair value utilizing level 2 inputs. The estimated fair value of a security is determined based on market quotations when available or, if not available, by using quoted market prices for similar securities, pricing models or discounted cash flow analyses, using observable market data where available.
The Company reviews the prices supplied by independent pricing services, as well as their underlying pricing methodologies, for reasonableness and to ensure such prices are aligned with traditional pricing matrices. From time to time, the Company will validate, on a sample basis, prices supplied by the independent pricing service by comparison to prices obtained from other brokers and third-party sources or derived using internal models.
Loans: Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are segregated by type, such as commercial or mortgage. Each loan category is further segmented into fixed and adjustable-rate interest terms as well as performing and nonperforming categories. The fair value of loans is calculated by discounting scheduled cash flows through the estimated life including prepayment considerations, using estimated market discount rates that reflect the risks inherent in the loan. The fair value approach considers market-driven variables including credit related factors and reflects an “exit price” as defined in ASC Topic 820.
Deposit liabilities: The fair value of demand deposits, savings accounts and money market deposits is the amount payable at the reporting date. The fair value of fixed maturity certificates of deposit is estimated using the rates currently offered for funding of similar remaining maturities.
v3.22.1
Business Combinations
 3 Months Ended
Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Business Combinations Business Combinations
Acquisition of Business Bank of Florida, Corp.
On January 3, 2022, the Company completed its acquisition of Business Bank of Florida, Corp., (“BBFC”). Simultaneously, upon completion of the merger of BBFC and the Company, BBFC’s wholly owned subsidiary bank, Florida Business Bank, was merged with and into Seacoast Bank. Prior to the acquisition, Florida Business Bank operated one branch in Melbourne, Florida.
As a result of this acquisition, the Company expects to expand its customer base and leverage operating cost through economies of scale, and positively affect the Company’s operating results.
The Company acquired 100% of the outstanding common stock of BBFC. Under the terms of the definitive agreement, each share of BBFC common stock was converted into the right to receive 0.7997 of a share of Seacoast common stock.
(In thousands, except per share data)January 3, 2022
Number of BBFC common shares outstanding1,112 
Per share exchange ratio0.7997
Number of shares of common stock issued889 
Multiplied by common stock price per share on January 3, 2022$35.39 
Value of common stock issued31,480 
Fair value of options converted497 
Total purchase price$31,977 
The acquisition of BBFC was accounted for under the acquisition method in accordance with ASC Topic 805, Business Combinations. The Company recognized goodwill of $8.0 million for this acquisition that is nondeductible for tax purposes. Determining fair values of assets and liabilities, especially the loan portfolio, core deposit intangibles, and deferred taxes, is a complicated process involving significant judgment regarding methods and assumptions used to calculate estimated fair values. The fair values initially assigned to assets acquired and liabilities assumed are preliminary and could change for up to one year after the closing date of the acquisition as new information and circumstances relative to closing date fair values becomes known.
As part of the BBFC acquisition, 52,432 options were granted to replace outstanding BBFC options. These options had a weighted average exercise price of $26.63 and were fully vested upon acquisition. In accordance with ASC Topic 805, Business Combinations, the value of the replacement awards associated with pre-combination service, $0.5 million, was considered purchase consideration.
(In thousands)Initially Measured
January 3, 2022
Assets:
Cash$38,332 
Investment securities26,011 
Loans121,774 
Bank premises and equipment2,102 
Core deposit intangibles2,621 
Goodwill7,962 
Total assets$198,802 
Liabilities:
Deposits166,326 
Other liabilities499 
Total liabilities$166,825 
The table below presents information with respect to the fair value and unpaid principal balance of acquired loans at the acquisition date.
January 3, 2022
(In thousands)Book BalanceFair Value
Loans: 
Construction and land development$8,677 $8,414 
Commercial real estate - owner-occupied45,403 44,564 
Commercial real estate - non owner-occupied53,065 52,034 
Residential real estate 5,377 5,421 
Commercial and financial9,376 9,321 
Consumer59 61 
PPP loans1,959 1,959 
Total acquired loans$123,916 $121,774 
The table below presents the carrying amount of loans for which, at the date of acquisition, there was evidence of more than insignificant deterioration of credit quality since origination:
(In thousands)January 3, 2022
Book balance of loans at acquisition$714 
Allowance for credit losses at acquisition(15)
Non-credit related discount(48)
Total PCD loans acquired$651 
The acquisition of BBFC resulted in the addition of $1.8 million in allowance for credit losses, including the $15 thousand identified in the table above for PCD loans, and $1.8 million for non-PCD loans recorded through the provision for credit losses at the date of acquisition.
The Company believes the deposits assumed in the acquisition have an intangible value. In determining the valuation amount, deposits were analyzed based on factors such as type of deposit, deposit retention, interest rates and age of deposit relationships.
Acquisition of Sabal Palm Bancorp, Inc.
On January 3, 2022, the Company completed its acquisition of Sabal Palm Bancorp, Inc. (“Sabal Palm”). Simultaneously, upon completion of the merger of Sabal Palm and the Company, Sabal Palm’s wholly owned subsidiary bank, Sabal Palm Bank, was merged with and into Seacoast Bank. Prior to the acquisition, Sabal Palm Bank operated three branches in the Sarasota area.
As a result of this acquisition, the Company expects to expand its customer base and leverage operating cost through economies of scale, and positively affect the Company’s operating results.
The Company acquired 100% of the outstanding common stock of Sabal Palm. Under the terms of the definitive agreement, each share of Sabal Palm common stock was converted into the right to receive 0.2203 of a share of Seacoast common stock.
(In thousands, except per share data)January 3, 2022
Number of Sabal Palm common shares outstanding7,536 
Per share exchange ratio0.2203
Number of shares of common stock issued1,660 
Multiplied by common stock price per share on January 3, 2022$35.39 
Value of common stock issued58,762 
Fair value of options converted3,336 
Total purchase price$62,098 
The acquisition of Sabal Palm was accounted for under the acquisition method in accordance with ASC Topic 805, Business Combinations. The Company recognized goodwill of $26.5 million for this acquisition that is nondeductible for tax purposes. Determining fair values of assets and liabilities, especially the loan portfolio, core deposit intangibles, and deferred taxes, is a
complicated process involving significant judgment regarding methods and assumptions used to calculate estimated fair values. The fair values initially assigned to assets acquired and liabilities assumed are preliminary and could change for up to one year after the closing date of the acquisition as new information and circumstances relative to closing date fair values becomes known.
As part of the Sabal Palm acquisition, 188,253 options were granted to replace outstanding Sabal Palm options. These options had a weighted average exercise price of $17.84 and were fully vested upon acquisition. In accordance with ASC Topic 805, Business Combinations, the value of the replacement awards associated with pre-combination service, $3.3 million, was considered purchase consideration.
(In thousands)Initially Measured
January 3, 2022
Assets: 
Cash$170,609 
Time deposits with other banks6,473 
Loans246,152 
Bank premises and equipment1,745 
Core deposit intangibles5,587 
Goodwill26,489 
Other assets5,189 
Total assets$462,244 
Liabilities:
Deposits395,952 
Other liabilities4,194 
Total liabilities$400,146 
The table below presents information with respect to the fair value and unpaid principal balance of acquired loans at the acquisition date.
January 3, 2022
(In thousands)Book BalanceFair Value
Loans:  
Construction and land development$9,256 $9,009 
Commercial real estate - owner-occupied57,690 56,591 
Commercial real estate - non owner-occupied89,153 87,280 
Residential real estate 71,469 72,227 
Commercial and financial17,797 17,501 
Consumer233 232 
PPP loans3,312 3,312 
Total acquired loans$248,910 $246,152 
The table below presents the carrying amount of loans for which, at the date of acquisition, there was evidence of more than insignificant deterioration of credit quality since origination:
(In thousands)January 3, 2022
Book balance of loans at acquisition$3,703 
Allowance for credit losses at acquisition(37)
Non-credit related discount(663)
Total PCD loans acquired$3,003 
The acquisition of Sabal Palm resulted in the addition of $3.4 million in allowance for credit losses, including the $37 thousand identified in the table above for PCD loans, and $3.4 million for non-PCD loans recorded through the provision for credit losses at the date of acquisition.
The Company believes the deposits assumed in the acquisition have an intangible value. In determining the valuation amount, deposits were analyzed based on factors such as type of deposit, deposit retention, interest rates and age of deposit relationships.
Acquisition of Legacy Bank of Florida
On August 6, 2021, the Company completed its acquisition of Legacy Bank of Florida (“Legacy Bank”). Prior to the acquisition, Legacy Bank operated five branches in Broward and Palm Beach counties.
As a result of this acquisition, the Company expects to expand its customer base and leverage operating cost through economies of scale, and positively affect the Company’s operating results.
The Company acquired 100% of the outstanding common stock of Legacy Bank. Under the terms of the definitive agreement, each share of Legacy Bank common stock was converted into the right to receive 0.1703 of a share of Seacoast common stock.
(In thousands, except per share data)August 6, 2021
Number of Legacy Bank common shares outstanding15,778 
Per share exchange ratio0.1703
Number of shares of common stock issued2,687 
Multiplied by common stock price per share on August 6, 2021$32.19 
Value of common stock issued86,487 
Cash paid for fractional shares7 
Fair value of options converted4,736 
Total purchase price$91,230 
The acquisition of Legacy Bank was accounted for under the acquisition method in accordance with ASC Topic 805, Business Combinations. The Company recognized goodwill of $31.0 million for this acquisition that is nondeductible for tax purposes. Determining fair values of assets and liabilities, especially the loan portfolio, core deposit intangibles, and deferred taxes, is a
complicated process involving significant judgment regarding methods and assumptions used to calculate estimated fair values. The fair values initially assigned to assets acquired and liabilities assumed are preliminary and could change for up to one year after the closing date of the acquisition as new information and circumstances relative to closing date fair values becomes known.
As part of the Legacy Bank acquisition, 356,497 options were granted to replace outstanding Legacy Bank options. These options had a weighted average exercise price of $16.70 and were fully vested upon acquisition. In accordance with ASC Topic 805, Business Combinations, the value of the replacement awards associated with pre-combination service, $4.7 million, was considered purchase consideration, and the value of the replacement awards associated with post-combination service, $0.9 million, was recognized as compensation expense in 2021.
(In thousands)Initially Measured
August 6, 2021
Assets: 
Cash$98,107 
Investment securities992 
Loans477,215 
Bank premises and equipment2,577 
Core deposit intangibles3,454 
Goodwill30,978 
Other assets15,532 
Total assets$628,855 
Liabilities:
Deposits494,921 
Other liabilities42,705 
Total liabilities$537,626 
The table below presents information with respect to the fair value and unpaid principal balance of acquired loans at the acquisition date.
August 6, 2021
(In thousands)Book BalanceFair Value
Loans:  
Construction and land development$37,558 $36,651 
Commercial real estate - owner-occupied35,765 35,363 
Commercial real estate - non owner-occupied241,322 237,091 
Residential real estate 71,118 70,541 
Commercial and financial61,274 58,324 
Consumer647 647 
PPP loans38,598 38,598 
Total acquired loans$486,282 $477,215 
The table below presents the carrying amount of loans for which, at the date of acquisition, there was evidence of more than insignificant deterioration of credit quality since origination:
(In thousands)August 6, 2021
Book balance of loans at acquisition$66,371 
Allowance for credit losses at acquisition(3,046)
Non-credit related discount(736)
Total PCD loans acquired$62,589 
The acquisition of Legacy Bank resulted in the addition of $11.2 million in allowance for credit losses, including the $3.0 million identified in the table above for PCD loans, and $8.2 million for non-PCD loans recorded through the provision for credit losses at the date of acquisition.
The Company believes the deposits assumed in the acquisition have an intangible value. In determining the valuation amount, deposits were analyzed based on factors such as type of deposit, deposit retention, interest rates and age of deposit relationships.
Pro-Forma Information
Pro-forma data for the three months ended March 31, 2022 presents information as if the acquisition of Legacy Bank occurred at the beginning of 2020, and the acquisitions of BBFC and Sabal Palm occurred at the beginning of 2021, as follows:
Three Months Ended March 31,
(In thousands, except per share amounts)20222021
Net interest income$76,504 $78,107 
Net income25,270 38,097 
EPS - basic$0.41 $0.62 
EPS - diluted0.41 0.63 
Proposed Acquisition of Apollo Bancshares, Inc.
On March 29, 2022, the Company announced its proposed acquisition of Apollo Bancshares, Inc. (“Apollo”). The transaction, which is expected to close early in the fourth quarter of 2022, will expand the Company’s presence in Miami-Dade County, part of the Miami-Fort Lauderdale-Pompano Beach MSA, Florida’s largest MSA and the 8th largest in the nation. Apollo operates five branches across Miami-Dade County with deposits of approximately $947 million and loans of $705 million as of March 31, 2022. Completion of the Apollo merger is subject to certain conditions, including the receipt of regulatory approvals, the approval of Apollo and Apollo Bank shareholders and the satisfaction of other customary closing conditions.
v3.22.1
Subsequent Event
 3 Months Ended
Mar. 31, 2022
Subsequent Events [Abstract]  
Subsequent Event Subsequent EventOn May 4, 2022, the Company announced its proposed acquisition of Drummond Banking Company (“Drummond”). The transaction, which is expected to close early in the fourth quarter of 2022, will expand the Company’s presence in new Florida markets including Ocala and Gainesville. Drummond operates 18 branches across North Florida with deposits of approximately $932 million and loans of $543 million as of March 31, 2022. Completion of the Drummond merger is subject to certain conditions, including the receipt of regulatory approvals, the approval of Drummond shareholders and the satisfaction of other customary closing conditions.
v3.22.1
Basis of Presentation (Policies)
 3 Months Ended
Mar. 31, 2022
Accounting Policies [Abstract]  
Basis of Presentation Basis of Presentation: The accompanying unaudited condensed consolidated financial statements of Seacoast Banking Corporation of Florida and its subsidiaries (the “Company”) have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Certain prior period amounts have been reclassified to conform to the current period presentation.Operating results for the three months ended March 31, 2022, are not necessarily indicative of the results that may be expected for the year ending December 31, 2022, or any other period. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.
Use of Estimates Use of Estimates: The preparation of these condensed consolidated financial statements requires management to make judgments in the application of certain accounting policies that involve significant estimates and assumptions. The Company has established policies and control procedures that are intended to ensure valuation methods are well controlled and applied consistently from period to period. These estimates and assumptions, which may materially affect the reported amounts of certain assets, liabilities, revenues and expenses, are based on information available as of the date of the financial statements, and changes in this information over time and the use of revised estimates and assumptions could materially affect amounts reported in subsequent financial statements. Specific areas, among others, requiring the application of management’s estimates include determination of the allowance for credit losses, acquisition accounting and purchased loans, intangible assets and impairment testing, other fair value measurements and contingent liabilities.
Recently Issued Accounting Standards, Not Yet Adopted
Recently Issued Accounting Standards, Not Yet Adopted
In March 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022-02, Financial Instruments Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures. ASU 2022-02 eliminates the accounting guidance for troubled debt restructurings (“TDRs”) in ASC 310-40, Receivables - Troubled Debt Restructurings by Creditors, and introduces new disclosures related to modifications with borrowers that are experiencing financial difficulties. ASU 2022-02 also requires the disclosure of current-period gross writeoffs by year of origination for financing receivables held at amortized cost. The amendments in ASU 2022-02 are effective for fiscal years beginning after December 15, 2022, and early adoption is permitted. The impact to the Company’s consolidated financial statements of the adoption of ASU 2022-02 is not expected to be material.
Fair Value Measurement
Held-to-maturity debt securities: These debt securities are reported at fair value utilizing level 2 inputs. The estimated fair value of a security is determined based on market quotations when available or, if not available, by using quoted market prices for similar securities, pricing models or discounted cash flow analyses, using observable market data where available.
The Company reviews the prices supplied by independent pricing services, as well as their underlying pricing methodologies, for reasonableness and to ensure such prices are aligned with traditional pricing matrices. From time to time, the Company will validate, on a sample basis, prices supplied by the independent pricing service by comparison to prices obtained from other brokers and third-party sources or derived using internal models.
Loans: Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are segregated by type, such as commercial or mortgage. Each loan category is further segmented into fixed and adjustable-rate interest terms as well as performing and nonperforming categories. The fair value of loans is calculated by discounting scheduled cash flows through the estimated life including prepayment considerations, using estimated market discount rates that reflect the risks inherent in the loan. The fair value approach considers market-driven variables including credit related factors and reflects an “exit price” as defined in ASC Topic 820.
Deposit liabilities: The fair value of demand deposits, savings accounts and money market deposits is the amount payable at the reporting date. The fair value of fixed maturity certificates of deposit is estimated using the rates currently offered for funding of similar remaining maturities.
v3.22.1
Earnings per Share (Tables)
 3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
Three Months Ended March 31,
(Dollars in thousands, except per share data)20222021
Basic earnings per share  
Net income$20,588 $33,719 
Average common shares outstanding61,127 55,271 
Net income per share$0.34 $0.61 
Diluted earnings per share
Net income$20,588 $33,719 
Average common shares outstanding61,127 55,271 
Add: Dilutive effect of employee restricted stock and stock options577 721 
Average diluted shares outstanding61,704 55,992 
Net income per share$0.33 $0.60 
Net income has not been allocated to unvested restricted stock awards that are participating securities because the amounts that would be allocated are not material to net income per share of common stock. Unvested restricted stock awards that are participating securities represent less than one percent of all of the outstanding shares of common stock for each of the periods presented.
v3.22.1
Securities (Tables)
 3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Summary of Amortized Cost and Fair Value of Securities Available for Sale
The amortized cost, gross unrealized gains and losses and fair value of securities available-for-sale and held-to-maturity at March 31, 2022 and December 31, 2021 are summarized as follows:
 March 31, 2022
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Debt securities available-for-sale    
U.S. Treasury securities and obligations of U.S. government agencies$6,240 $54 $(13)$6,281 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,335,336 829 (91,495)1,244,670 
Private mortgage-backed securities and collateralized mortgage obligations114,286 284 (3,274)111,296 
Collateralized loan obligations315,168 — (2,044)313,124 
Obligations of state and political subdivisions31,533 518 (803)31,248 
Totals$1,802,563 $1,685 $(97,629)$1,706,619 
Debt securities held-to-maturity
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$747,004 $15,397 $(52,909)$709,492 
Totals$747,004 $15,397 $(52,909)$709,492 
 December 31, 2021
(In thousands)Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Debt securities available-for-sale    
U.S. Treasury securities and obligations of U.S. government agencies$6,466 $316 $(3)$6,779 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,234,721 8,308 (20,309)1,222,720 
Private mortgage-backed securities and collateralized mortgage obligations88,096 1,091 (420)88,767 
Collateralized loan obligations292,751 63 (124)292,690 
Obligations of state and political subdivisions31,624 1,740 (1)33,363 
Totals$1,653,658 $11,518 $(20,857)$1,644,319 
Debt securities held-to-maturity
Mortgage-backed securities of U.S. government-sponsored entities$638,640 $3,828 $(15,070)$627,398 
Totals$638,640 $3,828 $(15,070)$627,398 
Summary of Amortized Cost and Fair Value of Held-to-Maturity Securities
The amortized cost, gross unrealized gains and losses and fair value of securities available-for-sale and held-to-maturity at March 31, 2022 and December 31, 2021 are summarized as follows:
 March 31, 2022
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Debt securities available-for-sale    
U.S. Treasury securities and obligations of U.S. government agencies$6,240 $54 $(13)$6,281 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,335,336 829 (91,495)1,244,670 
Private mortgage-backed securities and collateralized mortgage obligations114,286 284 (3,274)111,296 
Collateralized loan obligations315,168 — (2,044)313,124 
Obligations of state and political subdivisions31,533 518 (803)31,248 
Totals$1,802,563 $1,685 $(97,629)$1,706,619 
Debt securities held-to-maturity
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$747,004 $15,397 $(52,909)$709,492 
Totals$747,004 $15,397 $(52,909)$709,492 
 December 31, 2021
(In thousands)Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Debt securities available-for-sale    
U.S. Treasury securities and obligations of U.S. government agencies$6,466 $316 $(3)$6,779 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,234,721 8,308 (20,309)1,222,720 
Private mortgage-backed securities and collateralized mortgage obligations88,096 1,091 (420)88,767 
Collateralized loan obligations292,751 63 (124)292,690 
Obligations of state and political subdivisions31,624 1,740 (1)33,363 
Totals$1,653,658 $11,518 $(20,857)$1,644,319 
Debt securities held-to-maturity
Mortgage-backed securities of U.S. government-sponsored entities$638,640 $3,828 $(15,070)$627,398 
Totals$638,640 $3,828 $(15,070)$627,398 
Summary of Investments Classified by Contractual Maturity Securities not due at a single maturity date are shown separately.
March 31, 2022
 Held-to-MaturityAvailable-for-Sale
(In thousands)Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Due in less than one year$— $— $2,776 $2,790 
Due after one year through five years— — 14,493 14,807 
Due after five years through ten years— — 5,705 5,698 
Due after ten years— — 14,799 14,234 
 — — 37,773 37,529 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities747,004 709,492 1,335,336 1,244,670 
Private mortgage-backed securities and collateralized mortgage obligations— — 114,286 111,296 
Collateralized loan obligations— — 315,168 313,124 
Totals$747,004 $709,492 $1,802,563 $1,706,619 
Schedule of Debt Securities in Unrealized Loss Position The tables below indicate the fair value of available-for-sale debt securities with unrealized losses for which no allowance for credit losses has been recorded.
 March 31, 2022
 Less Than 12 Months12 Months or LongerTotal
(In thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
U.S. Treasury securities and obligations of U.S. government agencies$303 $(11)$229 $(2)$532 $(13)
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,089,150 (80,423)100,982 (11,072)1,190,132 (91,495)
Private mortgage-backed securities and collateralized mortgage obligations84,333 (3,109)4,721 (165)89,054 (3,274)
Collateralized loan obligations298,334 (1,928)14,790 (116)313,124 (2,044)
Obligations of state and political subdivisions9,255 (803)— — 9,255 (803)
Totals$1,481,375 $(86,274)$120,722 $(11,355)$1,602,097 $(97,629)
 December 31, 2021
 Less Than 12 Months12 Months or LongerTotal
(In thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
U.S. Treasury securities and obligations of U.S. government agencies$97 $(1)$245 $(2)$342 $(3)
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities955,881 (19,575)11,953 (734)967,834 (20,309)
Private mortgage-backed securities and collateralized mortgage obligations33,640 (173)9,628 (247)43,268 (420)
Collateralized loan obligations123,202 (81)9,461 (43)132,663 (124)
Obligations of state and political subdivisions499 (1)— — 499 (1)
Totals$1,113,319 $(19,831)$31,287 $(1,026)$1,144,606 $(20,857)
v3.22.1
Loans (Tables)
 3 Months Ended
Mar. 31, 2022
Receivables [Abstract]  
Schedule of Portfolio Loans, Purchased Credit Impaired Loans and Purchased Unimpaired Loans
The following tables present net loan balances by segment as of:
 March 31, 2022
(In thousands)Portfolio LoansAcquired Non-PCD LoansPCD LoansTotal
Construction and land development$226,149 $33,231 $41 $259,421 
Commercial real estate - owner-occupied990,929 273,498 20,088 1,284,515 
Commercial real estate - non owner-occupied1,400,270 488,400 77,480 1,966,150 
Residential real estate1,379,911 214,401 5,333 1,599,645 
Commercial and financial1,007,064 110,161 15,281 1,132,506 
Consumer165,650 4,074 — 169,724 
Paycheck Protection Program29,137 10,119 — 39,256 
Totals$5,199,110 $1,133,884 $118,223 $6,451,217 
 December 31, 2021
(In thousands)Portfolio LoansAcquired Non-PCD LoansPCD LoansTotal
Construction and land development$199,341 $31,438 $45 $230,824 
Commercial real estate - owner occupied983,517 186,812 27,445 1,197,774 
Commercial real estate - non-owner occupied1,278,180 382,554 75,705 1,736,439 
Residential real estate1,261,306 156,957 7,091 1,425,354 
Commercial and financial968,318 84,395 16,643 1,069,356 
Consumer169,507 4,658 10 174,175 
Paycheck Protection Program69,503 21,604 — 91,107 
Totals$4,929,672 $868,418 $126,939 $5,925,029 
Schedule of Past Due Financing Receivables
The following tables present the status of net loan balances as of March 31, 2022 and December 31, 2021.
 March 31, 2022
(In thousands)CurrentAccruing
30-59 Days
Past Due		Accruing
60-89 Days
Past Due		Accruing
Greater
Than
90 Days		NonaccrualTotal
Portfolio Loans      
Construction and land development$225,921 $— $— $— $228 $226,149 
Commercial real estate - owner-occupied990,260 — — — 669 990,929 
Commercial real estate - non owner-occupied1,399,902 35 — — 333 1,400,270 
Residential real estate1,372,141 155 275 — 7,340 1,379,911 
Commercial and financial1,000,983 2,738 — 40 3,303 1,007,064 
Consumer164,430 638 458 — 124 165,650 
Paycheck Protection Program1
29,109 28 — — — 29,137 
Total Portfolio Loans$5,182,746 $3,594 $733 $40 $11,997 $5,199,110 
Acquired Non-PCD Loans
Construction and land development$33,231 $— $— $— $— $33,231 
Commercial real estate - owner-occupied273,498 — — — — 273,498 
Commercial real estate - non owner-occupied487,175 — — — 1,225 488,400 
Residential real estate213,208 — — — 1,193 214,401 
Commercial and financial109,805 282 — — 74 110,161 
Consumer3,837 — — — 237 4,074 
Paycheck Protection Program1
10,119 — — — — 10,119 
 Total Acquired Non-PCD Loans$1,130,873 $282 $— $— $2,729 $1,133,884 
PCD Loans
Construction and land development$37 $— $— $— $4 $41 
Commercial real estate - owner-occupied16,915 — — — 3,173 20,088 
Commercial real estate - non owner-occupied74,256 — — — 3,224 77,480 
Residential real estate4,624 — — — 709 5,333 
Commercial and financial10,908 — — — 4,373 15,281 
Consumer— — — — — — 
Total PCD Loans$106,740 $— $— $— $11,483 $118,223 
Total Loans$6,420,359 $3,876 $733 $40 $26,209 $6,451,217 
1Paycheck Protection Program loans are not reflected as past due when forgiveness applications are being processed by the SBA. Repayment of principal and interest is fully guaranteed by the U.S. government.
 
 December 31, 2021
(In thousands)CurrentAccruing
30-59 Days
Past Due		Accruing
60-89 Days
Past Due		Accruing
Greater
Than
90 Days		NonaccrualTotal
Portfolio Loans      
Construction and land development$199,087 $— $— $— $254 $199,341 
Commercial real estate - owner occupied982,804 — — — 713 983,517 
Commercial real estate - non-owner occupied1,276,582 — — — 1,598 1,278,180 
Residential real estate1,248,160 3,457 143 — 9,546 1,261,306 
Commercial and financial963,828 851 41 — 3,598 968,318 
Consumer168,791 565 23 15 113 169,507 
Paycheck Protection Program1
69,434 — — 69 — 69,503 
 Total Portfolio Loans$4,908,686 $4,873 $207 $84 $15,822 $4,929,672 
Acquired Non-PCD Loans
Construction and land development$31,438 $— $— $— $— $31,438 
Commercial real estate - owner occupied186,652 — 160 — — 186,812 
Commercial real estate - non-owner occupied381,510 — — — 1,044 382,554 
Residential real estate154,981 182 — — 1,794 156,957 
Commercial and financial84,180 — 40 — 175 84,395 
Consumer4,082 135 — — 441 4,658 
Paycheck Protection Program1
21,567 — — 37 — 21,604 
 Total Acquired Non-PCD Loans$864,410 $317 $200 $37 $3,454 $868,418 
PCD Loans
Construction and land development$40 $— $— $— $5 $45 
Commercial real estate - owner occupied24,192 — — — 3,253 27,445 
Commercial real estate - non-owner occupied72,442 — — — 3,263 75,705 
Residential real estate5,386 — — — 1,705 7,091 
Commercial and financial13,547 — — — 3,096 16,643 
Consumer10 — — — — 10 
 Total PCD Loans$115,617 $— $— $— $11,322 $126,939 
Total Loans$5,888,713 $5,190 $407 $121 $30,598 $5,925,029 
1Paycheck Protection Program loans are not reflected as past due when forgiveness applications are being processed by the SBA. Repayment of principal and interest is fully guaranteed by the U.S. government.
Schedule of Nonaccrual Loans by Loan Category
The following tables present net balances of loans on nonaccrual status and the related allowance for credit losses, if any, as of:
March 31, 2022
(In thousands)Nonaccrual Loans With No Related AllowanceNonaccrual Loans With an AllowanceTotal Nonaccrual LoansAllowance for Credit Losses
Construction and land development$12 $220 $232 $89 
Commercial real estate - owner-occupied2,871 971 3,842 380 
Commercial real estate - non owner-occupied3,406 1,376 4,782 18 
Residential real estate9,145 97 9,242 35 
Commercial and financial4,084 3,666 7,750 1,945 
Consumer23 338 361 329 
Totals $19,541 $6,668 $26,209 $2,796 
December 31, 2021
(In thousands)Nonaccrual Loans With No Related AllowanceNonaccrual Loans With an AllowanceTotal Nonaccrual LoansAllowance for Credit Losses
Construction and land development$37 $222 $259 $92 
Commercial real estate - owner-occupied2,976 990 3,966 419 
Commercial real estate - non owner-occupied4,490 1,415 5,905 27 
Residential real estate12,358 687 13,045 357 
Commercial and financial2,676 4,193 6,869 2,384 
Consumer29 525 554 525 
Totals$22,566 $8,032 $30,598 $3,804 
Schedule of Collateral Dependent Loans The following table presents collateral-dependent loans as of:
(In thousands)March 31, 2022December 31, 2021
Construction and land development$248 $271 
Commercial real estate - owner-occupied4,581 4,706 
Commercial real estate - non owner-occupied3,619 4,923 
Residential real estate 12,482 16,334 
Commercial and financial8,033 8,741 
Consumer478 741 
Totals $29,441 $35,716 
Schedule of Risk Categories of Loans by Class of Loans
The following tables present the risk rating of loans by year of origination as of:
March 31, 2022
(In thousands)20222021202020192018PriorRevolvingTotal
Construction and Land Development
Risk Ratings:
Pass$15,252 $118,289 $22,227 $30,059 $16,221 $16,738 $40,387 $259,173 
Special Mention— — — — — — — — 
Substandard— — — — — 7 — 7 
Substandard Impaired — — — — 220 21 — 241 
Doubtful— — — — — — — — 
Total$15,252 $118,289 $22,227 $30,059 $16,441 $16,766 $40,387 $259,421 
Commercial real estate - owner-occupied
Risk Ratings:
Pass$57,482 $216,122 $161,838 $192,208 $128,139 $492,637 $11,429 $1,259,855 
Special Mention— — 6,464 5,322 641 1,528 — 13,955 
Substandard— — — — — 5,359 350 5,709 
Substandard Impaired — — — 2,672 310 2,014 — 4,996 
Doubtful— — — — — — — — 
Total$57,482 $216,122 $168,302 $200,202 $129,090 $501,538 $11,779 $1,284,515 
Commercial real estate - non owner-occupied
Risk Ratings:
Pass$174,966 $415,704 $227,927 $305,852 $186,363 $578,279 $7,563 $1,896,654 
Special Mention— — — 837 — 10,640 — 11,477 
Substandard— — 4,753 5,351 23,146 19,242 — 52,492 
Substandard Impaired — — 1,044 1,849 — 2,634 — 5,527 
Doubtful— — — — — — — — 
Total$174,966 $415,704 $233,724 $313,889 $209,509 $610,795 $7,563 $1,966,150 
Residential real estate
Risk Ratings:
Pass$14,211 $564,750 $120,963 $90,420 $110,413 $311,573 $370,928 $1,583,258 
Special Mention— — — — 13 1,120 75 1,208 
Substandard— — 338 — 55 1,480 201 2,074 
Substandard Impaired — — 144 134 38 9,777 3,012 13,105 
Doubtful— — — — — — — — 
Total$14,211 $564,750 $121,445 $90,554 $110,519 $323,950 $374,216 $1,599,645 
March 31, 2022
(In thousands)20222021202020192018PriorRevolvingTotal
Commercial and financial
Risk Ratings:
Pass$51,836 $351,023 $176,311 $90,587 $63,294 $89,736 $271,721 $1,094,508 
Special Mention— 504 14,956 449 235 637 385 17,166 
Substandard— — 212 2,466 2,104 3,365 273 8,420 
Substandard Impaired — — 219 4,534 4,615 2,945 99 12,412 
Doubtful— — — — — — — — 
Total$51,836 $351,527 $191,698 $98,036 $70,248 $96,683 $272,478 $1,132,506 
Consumer
Risk Ratings:
Pass$9,049 $46,934 $28,939 $23,469 $15,271 $20,920 $21,607 $166,189 
Special Mention— 7 43 100 38 437 1,748 2,373 
Substandard— 437 — 8 — — 191 636 
Substandard Impaired — 7 21 89 34 153 222 526 
Doubtful— — — — — — — — 
Total$9,049 $47,385 $29,003 $23,666 $15,343 $21,510 $23,768 $169,724 
Paycheck Protection Program
Risk Ratings:
Pass$— $37,304 $1,952 $— $— $— $— $39,256 
Total$— $37,304 $1,952 $— $— $— $— $39,256 
Consolidated
Risk Ratings:
Pass$322,796 $1,750,126 $740,157 $732,595 $519,701 $1,509,883 $723,635 $6,298,893 
Special Mention— 511 21,463 6,708 927 14,362 2,208 46,179 
Substandard— 437 5,303 7,825 25,305 29,453 1,015 69,338 
Substandard Impaired — 7 1,428 9,278 5,217 17,544 3,333 36,807 
Doubtful— — — — — — — — 
Total$322,796 $1,751,081 $768,351 $756,406 $551,150 $1,571,242 $730,191 $6,451,217 
December 31, 2021
(In thousands)20212020201920182017PriorRevolvingTotal
Construction and Land Development
Risk Ratings:
Pass$94,318 $23,860 $38,058 $25,507 $3,995 $15,466 $29,349 $230,553 
Special Mention— — — — — — — — 
Substandard— — — — — — — — 
Substandard Impaired — — — 222 — 49 — 271 
Doubtful— — — — — — — — 
Total$94,318 $23,860 $38,058 $25,729 $3,995 $15,515 $29,349 $230,824 
Commercial real estate - owner-occupied
Risk Ratings:
Pass$205,404 $154,432 $179,786 $132,353 $125,763 $363,986 $10,005 $1,171,729 
Special Mention— 6,527 5,370 649 218 3,250 — 16,014 
Substandard— — — — 3,290 1,610 — 4,900 
Substandard Impaired — — 2,742 310 596 1,483 — 5,131 
Doubtful— — — — — — — — 
Total$205,404 $160,959 $187,898 $133,312 $129,867 $370,329 $10,005 $1,197,774 
December 31, 2021
(In thousands)20212020201920182017PriorRevolvingTotal
Commercial real estate - non owner-occupied
Risk Ratings:
Pass$395,308 $207,824 $298,021 $186,339 $110,990 $460,435 $6,477 $1,665,394 
Special Mention— — 844 — 289 13,850 — 14,983 
Substandard— 4,776 3,009 23,206 1,900 17,266 — 50,157 
Substandard Impaired — 1,044 1,849 — 326 2,686 — 5,905 
Doubtful— — — — — — — — 
Total$395,308 $213,644 $303,723 $209,545 $113,505 $494,237 $6,477 $1,736,439 
Residential real estate
Risk Ratings:
Pass$394,547 $114,364 $90,566 $119,836 $118,556 $213,950 $354,439 $1,406,258 
Special Mention— — — 70 — 1,243 532 1,845 
Substandard— 340 — — 58 422 86 906 
Substandard Impaired — 149 724 39 4,415 8,507 2,511 16,345 
Doubtful— — — — — — — — 
Total$394,547 $114,853 $91,290 $119,945 $123,029 $224,122 $357,568 $1,425,354 
Commercial and financial
Risk Ratings:
Pass$340,826 $180,677 $97,072 $68,232 $39,331 $56,053 $246,568 $1,028,759 
Special Mention530 15,587 — 237 251 84 876 17,565 
Substandard— 371 2,605 3,594 1,436 3,217 339 11,562 
Substandard Impaired — 196 4,561 3,694 1,371 1,520 128 11,470 
Doubtful— — — — — — — — 
Total$341,356 $196,831 $104,238 $75,757 $42,389 $60,874 $247,911 $1,069,356 
Consumer
Risk Ratings:
Pass$45,063 $31,342 $26,194 $17,300 $9,979 $16,019 $25,418 $171,315 
Special Mention— 24 431 37 167 3 1,199 1,861 
Substandard— — 18 — 17 — 223 258 
Substandard Impaired — — 92 23 74 118 434 741 
Doubtful— — — — — — — — 
Total$45,063 $31,366 $26,735 $17,360 $10,237 $16,140 $27,274 $174,175 
Paycheck Protection Program
Risk Ratings:
Pass$87,036 $4,071 $— $— $— $— $— $91,107 
Total$87,036 $4,071 $— $— $— $— $— $91,107 
Consolidated
Risk Ratings:
Pass$1,562,502 $716,570 $729,697 $549,567 $408,614 $1,125,909 $672,256 $5,765,115 
Special Mention530 22,138 6,645 993 925 18,430 2,607 52,268 
Substandard— 5,487 5,632 26,800 6,701 22,515 648 67,783 
Substandard Impaired — 1,389 9,968 4,288 6,782 14,363 3,073 39,863 
Doubtful— — — — — — — — 
Total$1,563,032 $745,584 $751,942 $581,648 $423,022 $1,181,217 $678,584 $5,925,029 
Schedule of Troubled Debt Restructuring
The following table presents loans that were modified in a troubled debt restructuring during the three months ended March 31, 2022 and March 31, 2021:
Three Months Ended March 31,
20222021
(In thousands)Number of ContractsPre-Modification Outstanding Recorded InvestmentPost-Modification Outstanding Recorded InvestmentNumber of ContractsPre-Modification Outstanding Recorded InvestmentPost-Modification Outstanding Recorded Investment
Construction and land development— $— $— — $— $— 
Commercial real estate - owner-occupied— — — — — — 
Commercial real estate - non owner-occupied— — — — — — 
Residential real estate3 785 785 1 27 27 
Commercial and financial1 33 33 — — — 
Consumer4 22 22 — — — 
Totals8 $840 $840 1 $27 $27 
v3.22.1
Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2022
Receivables [Abstract]  
Schedule of Allowance for Credit Losses
Activity in the allowance for credit losses is summarized as follows:
 Three Months Ended March 31, 2022
(In thousands)Beginning
Balance		Initial Allowance on PCD Loans Acquired During the PeriodProvision
for Credit
Losses		Charge-
Offs		RecoveriesTDR
Allowance
Adjustments		Ending
Balance
Construction and land development$2,751 $— $(493)$— $10 $— $2,268 
Commercial real estate - owner-occupied8,579 — 715 — — — 9,294 
Commercial real estate - non owner-occupied36,617 31 7,274 — — — 43,922 
Residential real estate12,811 17 1,060 (1)191 (3)14,075 
Commercial and financial19,744 3 (1,628)(569)177 — 17,727 
Consumer2,813 — (372)(95)208 (2)2,552 
Paycheck Protection Program— — — — — — — 
Totals$83,315 $51 $6,556 $(665)$586 $(5)$89,838 

 Three Months Ended March 31, 2021
(In thousands)Beginning
Balance		Provision
for Credit
Losses		Charge-
Offs		RecoveriesTDR
Allowance
Adjustments		Ending
Balance
Construction and land development$4,920 $(510)$— $18 $— $4,428 
Commercial real estate - owner occupied9,868 (76)— — — 9,792 
Commercial real estate - non-owner occupied38,266 (2,038)— 1 — 36,229 
Residential real estate17,500 (3,372)— 229 (4)14,353 
Commercial and financial18,690 775 (756)207 — 18,916 
Consumer3,489 (494)(185)116 (1)2,925 
Paycheck Protection Program— — — — — — 
Totals$92,733 $(5,715)$(941)$571 $(5)$86,643 
Schedule of Loan Portfolio, Excluding PCI Loans and Related Allowance
The allowance for credit losses is composed of specific allowances for loans individually evaluated and general allowances for loans grouped into loan pools based on similar characteristics, which are collectively evaluated. The Company’s loan portfolio and related allowance at March 31, 2022 and December 31, 2021 is shown in the following tables:
 March 31, 2022
 Individually Evaluated Collectively EvaluatedTotal
(In thousands)Recorded
Investment		Associated
Allowance		Recorded
Investment		Associated
Allowance		Recorded
Investment		Associated
Allowance
Construction and land development$248 $89 $259,173 $2,179 $259,421 $2,268 
Commercial real estate - owner occupied4,996 380 1,279,519 8,914 1,284,515 9,294 
Commercial real estate - non owner-occupied5,527 787 1,960,623 43,135 1,966,150 43,922 
Residential real estate13,154 312 1,586,491 13,763 1,599,645 14,075 
Commercial and financial13,172 2,511 1,119,334 15,216 1,132,506 17,727 
Consumer540 481 169,184 2,071 169,724 2,552 
Paycheck Protection Program— — 39,256 — 39,256 — 
Totals$37,637 $4,560 $6,413,580 $85,278 $6,451,217 $89,838 
 December 31, 2021
 Individually Evaluated Collectively Evaluated
 Total
(In thousands)Recorded
Investment		Associated
Allowance		Recorded
Investment		Associated
Allowance		Recorded
Investment		Associated
Allowance
Construction and land development$271 $92 $230,553 $2,659 $230,824 $2,751 
Commercial real estate - owner occupied5,131 419 1,192,643 8,160 1,197,774 8,579 
Commercial real estate - non owner-occupied5,905 27 1,730,534 36,590 1,736,439 36,617 
Residential real estate16,345 646 1,409,009 12,165 1,425,354 12,811 
Commercial and financial11,470 2,885 1,057,886 16,859 1,069,356 19,744 
Consumer741 685 173,434 2,128 174,175 2,813 
Paycheck Protection Program— — 91,107 — 91,107 — 
Totals$39,863 $4,754 $5,885,166 $78,561 $5,925,029 $83,315 
v3.22.1
Derivatives (Tables)
 3 Months Ended
Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
(In thousands)Notional AmountFair ValueBalance Sheet Category
At March 31, 2022
Back-to-back swaps$209,904 $8,923 Other Assets and Other Liabilities
Interest rate floors300,000 122 Other Assets
At December 31, 2021
Back-to-back swaps$175,392 $8,022 Other Assets and Other Liabilities
Interest rate floors300,000 290 Other Assets
v3.22.1
Securities Sold Under Agreements to Repurchase (Tables)
 3 Months Ended
Mar. 31, 2022
Brokers and Dealers [Abstract]  
Schedule of Securities Sold Under Agreements to Repurchase and Securities Pledged Company securities pledged were as follows by collateral type and maturity as of: 
(In thousands)March 31, 2022December 31, 2021
Fair value of pledged securities - overnight and continuous:
Mortgage-backed securities and collateralized mortgage obligations of U.S. government sponsored entities$152,817 $134,577 
v3.22.1
Fair Value (Tables)
 3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Assets Measured on Recurring and Nonrecurring Basis
Under ASC Topic 820, fair value measurements for items measured at fair value on a recurring and nonrecurring basis at March 31, 2022 and December 31, 2021 included:
(In thousands)Fair Value
Measurements		Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
At March 31, 2022    
Financial Assets
Available-for-sale debt securities1
$1,706,619 $191 $1,706,428 $— 
Derivative financial instruments2
9,045 — 9,045 — 
Loans held for sale2
20,615 — 20,615 — 
Loans3
8,395 — 1,517 6,878 
Other real estate owned4
11,567 — 2,420 9,147 
Equity securities5
8,864 8,864 — — 
Financial Liabilities
Derivative financial instruments2
$8,923 $— $8,923 $— 
At December 31, 2021
Financial Assets
Available-for-sale debt securities1
$1,644,319 $197 $1,644,122 $— 
Derivative financial instruments2
8,312 — 8,312 — 
Loans held for sale2
31,791 — 31,791 — 
Loans3
8,443 — 1,558 6,885 
Other real estate owned4
13,618 — — 13,618 
Equity securities5
9,316 9,316 — — 
Financial Liabilities
Derivative financial instruments2
$8,022 $— $8,022 $— 
1See “Note 3 – Securities” for further detail of fair value of individual investment categories.
2Recurring fair value basis determined using observable market data.
3See “Note 4 – Loans.” Nonrecurring fair value adjustments to collateral-dependent loans reflect full or partial write-downs that are based on current appraised values of the collateral in accordance with ASC Topic 310.
4Fair value is measured on a nonrecurring basis in accordance with ASC Topic 360.
5An investment in shares of a mutual fund that invests primarily in CRA-qualified debt securities, reported at fair value in Other Assets. Recurring fair value basis is determined using market quotations.
Schedule of Aggregate Fair Value and Contractual Balance of Loans for Sale
The aggregate fair value and contractual balance of loans held for sale as of March 31, 2022 and December 31, 2021 is as follows:
(In thousands)March 31, 2022December 31, 2021
Aggregate fair value$20,615 $31,791 
Contractual balance20,087 30,963 
Excess528 828 
Schedule of Carrying Amount and Fair Value of Other Significant Financial Instruments Not Measured on a Recurring Basis
The carrying amount and fair value of the Company’s other financial instruments that were not disclosed previously in the balance sheet and for which carrying amount is not fair value as of March 31, 2022 and December 31, 2021 is as follows:
(In thousands)Carrying AmountQuoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
March 31, 2022    
Financial Assets    
Debt securities held-to-maturity1
$747,004 $— $709,492 $— 
Time deposits with other banks5,975 — 5,933 — 
Loans, net6,352,984 — — 6,423,158 
Financial Liabilities
Deposit liabilities9,243,768 — — 9,238,260 
Subordinated debt71,716 — 69,416 — 
December 31, 2021
Financial Assets
Debt securities held-to-maturity1

$638,640 $— $627,398 $— 
Loans, net5,833,271 — — 5,907,447 
Financial Liabilities
Deposit liabilities8,067,589 — — 8,067,995 
Subordinated debt71,646 — 69,348 — 
1See “Note 3 – Securities” for further detail of individual investment categories.
v3.22.1
Business Combinations (Tables)
 3 Months Ended
Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of Purchase Price Calculation
The Company acquired 100% of the outstanding common stock of BBFC. Under the terms of the definitive agreement, each share of BBFC common stock was converted into the right to receive 0.7997 of a share of Seacoast common stock.
(In thousands, except per share data)January 3, 2022
Number of BBFC common shares outstanding1,112 
Per share exchange ratio0.7997
Number of shares of common stock issued889 
Multiplied by common stock price per share on January 3, 2022$35.39 
Value of common stock issued31,480 
Fair value of options converted497 
Total purchase price$31,977 
The Company acquired 100% of the outstanding common stock of Sabal Palm. Under the terms of the definitive agreement, each share of Sabal Palm common stock was converted into the right to receive 0.2203 of a share of Seacoast common stock.
(In thousands, except per share data)January 3, 2022
Number of Sabal Palm common shares outstanding7,536 
Per share exchange ratio0.2203
Number of shares of common stock issued1,660 
Multiplied by common stock price per share on January 3, 2022$35.39 
Value of common stock issued58,762 
Fair value of options converted3,336 
Total purchase price$62,098 
The Company acquired 100% of the outstanding common stock of Legacy Bank. Under the terms of the definitive agreement, each share of Legacy Bank common stock was converted into the right to receive 0.1703 of a share of Seacoast common stock.
(In thousands, except per share data)August 6, 2021
Number of Legacy Bank common shares outstanding15,778 
Per share exchange ratio0.1703
Number of shares of common stock issued2,687 
Multiplied by common stock price per share on August 6, 2021$32.19 
Value of common stock issued86,487 
Cash paid for fractional shares7 
Fair value of options converted4,736 
Total purchase price$91,230 
Schedule of Business Acquisitions
(In thousands)Initially Measured
January 3, 2022
Assets:
Cash$38,332 
Investment securities26,011 
Loans121,774 
Bank premises and equipment2,102 
Core deposit intangibles2,621 
Goodwill7,962 
Total assets$198,802 
Liabilities:
Deposits166,326 
Other liabilities499 
Total liabilities$166,825 
(In thousands)Initially Measured
January 3, 2022
Assets: 
Cash$170,609 
Time deposits with other banks6,473 
Loans246,152 
Bank premises and equipment1,745 
Core deposit intangibles5,587 
Goodwill26,489 
Other assets5,189 
Total assets$462,244 
Liabilities:
Deposits395,952 
Other liabilities4,194 
Total liabilities$400,146 
The fair values initially assigned to assets acquired and liabilities assumed are preliminary and could change for up to one year after the closing date of the acquisition as new information and circumstances relative to closing date fair values becomes known.
As part of the Legacy Bank acquisition, 356,497 options were granted to replace outstanding Legacy Bank options. These options had a weighted average exercise price of $16.70 and were fully vested upon acquisition. In accordance with ASC Topic 805, Business Combinations, the value of the replacement awards associated with pre-combination service, $4.7 million, was considered purchase consideration, and the value of the replacement awards associated with post-combination service, $0.9 million, was recognized as compensation expense in 2021.
(In thousands)Initially Measured
August 6, 2021
Assets: 
Cash$98,107 
Investment securities992 
Loans477,215 
Bank premises and equipment2,577 
Core deposit intangibles3,454 
Goodwill30,978 
Other assets15,532 
Total assets$628,855 
Liabilities:
Deposits494,921 
Other liabilities42,705 
Total liabilities$537,626 
Schedule of Fair Value of Acquired Loans, Unpaid Principal Balance, Purchase Price and Allowance for Credit Losses
The table below presents information with respect to the fair value and unpaid principal balance of acquired loans at the acquisition date.
January 3, 2022
(In thousands)Book BalanceFair Value
Loans: 
Construction and land development$8,677 $8,414 
Commercial real estate - owner-occupied45,403 44,564 
Commercial real estate - non owner-occupied53,065 52,034 
Residential real estate 5,377 5,421 
Commercial and financial9,376 9,321 
Consumer59 61 
PPP loans1,959 1,959 
Total acquired loans$123,916 $121,774 
The table below presents information with respect to the fair value and unpaid principal balance of acquired loans at the acquisition date.
January 3, 2022
(In thousands)Book BalanceFair Value
Loans:  
Construction and land development$9,256 $9,009 
Commercial real estate - owner-occupied57,690 56,591 
Commercial real estate - non owner-occupied89,153 87,280 
Residential real estate 71,469 72,227 
Commercial and financial17,797 17,501 
Consumer233 232 
PPP loans3,312 3,312 
Total acquired loans$248,910 $246,152 
The table below presents information with respect to the fair value and unpaid principal balance of acquired loans at the acquisition date.
August 6, 2021
(In thousands)Book BalanceFair Value
Loans:  
Construction and land development$37,558 $36,651 
Commercial real estate - owner-occupied35,765 35,363 
Commercial real estate - non owner-occupied241,322 237,091 
Residential real estate 71,118 70,541 
Commercial and financial61,274 58,324 
Consumer647 647 
PPP loans38,598 38,598 
Total acquired loans$486,282 $477,215 
Schedule Purchase Credit Deteriorated Loans Acquired
The table below presents the carrying amount of loans for which, at the date of acquisition, there was evidence of more than insignificant deterioration of credit quality since origination:
(In thousands)January 3, 2022
Book balance of loans at acquisition$714 
Allowance for credit losses at acquisition(15)
Non-credit related discount(48)
Total PCD loans acquired$651 
The table below presents the carrying amount of loans for which, at the date of acquisition, there was evidence of more than insignificant deterioration of credit quality since origination:
(In thousands)January 3, 2022
Book balance of loans at acquisition$3,703 
Allowance for credit losses at acquisition(37)
Non-credit related discount(663)
Total PCD loans acquired$3,003 
The table below presents the carrying amount of loans for which, at the date of acquisition, there was evidence of more than insignificant deterioration of credit quality since origination:
(In thousands)August 6, 2021
Book balance of loans at acquisition$66,371 
Allowance for credit losses at acquisition(3,046)
Non-credit related discount(736)
Total PCD loans acquired$62,589 
Schedule of Pro-Forma Data Pro-forma data for the three months ended March 31, 2022 presents information as if the acquisition of Legacy Bank occurred at the beginning of 2020, and the acquisitions of BBFC and Sabal Palm occurred at the beginning of 2021, as follows:
Three Months Ended March 31,
(In thousands, except per share amounts)20222021
Net interest income$76,504 $78,107 
Net income25,270 38,097 
EPS - basic$0.41 $0.62 
EPS - diluted0.41 0.63 
v3.22.1
Earnings per Share - Narrative (Details) - shares
shares in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Earnings Per Share [Abstract]    
Antidilutive securities excluded from diluted earnings per share calculation (in shares) 0 0
v3.22.1
Earnings per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Basic earnings per share    
Net income $ 20,588 $ 33,719
Average common shares outstanding (in shares) 61,127 55,271
Net income per share (in dollars per share) $ 0.34 $ 0.61
Diluted earnings per share    
Average common shares outstanding (in shares) 61,127 55,271
Add: Dilutive effect of employee restricted stock and stock options (in shares) 577 721
Average diluted shares outstanding (in shares) 61,704 55,992
Net income per share (in dollars per share) $ 0.33 $ 0.60
v3.22.1
Securities - Amortized Cost and Fair Value of Securities Available for Sale and Held for Investment (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Debt securities available-for-sale    
Available for sale, amortized cost, total $ 1,802,563 $ 1,653,658
Available for sale, gross unrealized gains 1,685 11,518
Available for sale, gross unrealized losses (97,629) (20,857)
Available for sale, fair value 1,706,619 1,644,319
Debt securities held-to-maturity    
Held to maturity, amortized cost, total 747,004 638,640
Held to maturity, gross unrealized gains 15,397 3,828
Held to maturity, gross unrealized losses (52,909) (15,070)
Held to maturity, fair value 709,492 627,398
U.S. Treasury securities and obligations of U.S. government agencies    
Debt securities available-for-sale    
Available for sale, amortized cost, total 6,240 6,466
Available for sale, gross unrealized gains 54 316
Available for sale, gross unrealized losses (13) (3)
Available for sale, fair value 6,281 6,779
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities    
Debt securities available-for-sale    
Available for sale, amortized cost, total 1,335,336 1,234,721
Available for sale, gross unrealized gains 829 8,308
Available for sale, gross unrealized losses (91,495) (20,309)
Available for sale, fair value 1,244,670 1,222,720
Debt securities held-to-maturity    
Held to maturity, amortized cost, total   638,640
Held to maturity, gross unrealized gains   3,828
Held to maturity, gross unrealized losses   (15,070)
Held to maturity, fair value 709,492 627,398
Private mortgage-backed securities and collateralized mortgage obligations    
Debt securities available-for-sale    
Available for sale, amortized cost, total 114,286 88,096
Available for sale, gross unrealized gains 284 1,091
Available for sale, gross unrealized losses (3,274) (420)
Available for sale, fair value 111,296 88,767
Debt securities held-to-maturity    
Held to maturity, fair value 0  
Collateralized loan obligations    
Debt securities available-for-sale    
Available for sale, amortized cost, total 315,168 292,751
Available for sale, gross unrealized gains 0 63
Available for sale, gross unrealized losses (2,044) (124)
Available for sale, fair value 313,124 292,690
Debt securities held-to-maturity    
Held to maturity, fair value 0  
Obligations of state and political subdivisions    
Debt securities available-for-sale    
Available for sale, amortized cost, total 31,533 31,624
Available for sale, gross unrealized gains 518 1,740
Available for sale, gross unrealized losses (803) (1)
Available for sale, fair value 31,248 $ 33,363
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities    
Debt securities held-to-maturity    
Held to maturity, amortized cost, total 747,004  
Held to maturity, gross unrealized gains 15,397  
Held to maturity, gross unrealized losses (52,909)  
Held to maturity, fair value $ 709,492  
v3.22.1
Securities - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]      
Proceeds from sale of available-for-sale debt securities, including legacy securities $ 26,000 $ 0  
Securities transferred from available for sale to held to maturity   210,800  
Securities transferred from available for sale to held to maturity, unrealized gains   800  
Unrealized losses on mortgage backed securities of government sponsored entities 97,629   $ 20,857
Fair value of securities in unrealized loss position 1,602,097   1,144,606
Held-to-maturity securities, allowance for credit loss 0    
Federal Home Loan Bank and Federal Reserve stock recorded in other assets 38,100    
Accrued interest receivable on AFS debt securities 3,400   3,400
Accrued interest receivable on HTM debt securities $ 1,200   1,000
Common Class B | Visa      
Debt Securities, Available-for-sale [Line Items]      
Shares of Visa stock held (in shares) 11,330    
Common Class A | Visa      
Debt Securities, Available-for-sale [Line Items]      
Conversion rate of Class A stock for each share of Class B stock (in shares) 1.6181    
Shares issued (in shares) 18,333    
CRA - Qualified Mutual Fund      
Debt Securities, Available-for-sale [Line Items]      
Gross losses from sale of securities $ 500 $ 100  
Investment in mutual fund carried at fair value 8,900    
Public Deposits and Secured Borrowings | Carrying Value | Asset Pledged as Collateral      
Debt Securities, Available-for-sale [Line Items]      
Fair value of debt securities pledged as collateral 446,700    
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities      
Debt Securities, Available-for-sale [Line Items]      
Unrealized losses on mortgage backed securities of government sponsored entities 91,495   20,309
Fair value of securities in unrealized loss position 1,190,132   967,834
Allowance for credit losses on AFS debt securities 0    
Private mortgage-backed securities and collateralized mortgage obligations      
Debt Securities, Available-for-sale [Line Items]      
Unrealized losses on mortgage backed securities of government sponsored entities 3,274   420
Fair value of securities in unrealized loss position 89,054   43,268
Allowance for credit losses on AFS debt securities $ 0    
Average credit support percentage 24.00%    
Collateralized loan obligations      
Debt Securities, Available-for-sale [Line Items]      
Unrealized losses on mortgage backed securities of government sponsored entities $ 2,044   124
Fair value of securities in unrealized loss position 313,124   $ 132,663
Allowance for credit losses on AFS debt securities $ 0    
Collateralized loan obligations | Standard & Poor's, AAA Rating      
Debt Securities, Available-for-sale [Line Items]      
Number of positions held, percentage of total 37.00%    
Collateralized loan obligations | Standard & Poor's, AA Rating      
Debt Securities, Available-for-sale [Line Items]      
Number of positions held, percentage of total 25.00%    
v3.22.1
Securities - Amortized Cost and Fair Value of Securities by Contractual Maturity (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Amortized Cost    
Held to maturity, amortized cost, total $ 747,004 $ 638,640
Fair Value    
Held to maturity, fair value, total 709,492 627,398
Amortized Cost    
Available for sale, amortized cost, total 1,802,563 1,653,658
Fair Value    
Available for sale, fair value, total 1,706,619 1,644,319
Other debt    
Amortized Cost    
Held to maturity, amortized cost, due in less than one year 0  
Held to maturity, amortized cost, due after one year through five years 0  
Held to maturity, amortized cost, due after five years through ten years 0  
Held to maturity, amortized cost, due after ten years 0  
Held to maturity, amortized cost, total 0  
Fair Value    
Held to maturity, fair value, due in less than one year 0  
Held to maturity, fair value, due after one year through five years 0  
Held to maturity, fair value, due after five years through ten years 0  
Held to maturity, fair value, due after ten years 0  
Held to maturity, fair value, total 0  
Amortized Cost    
Available for sale, amortized cost, due in less than one year 2,776  
Available for sale, amortized cost, due after one year through five years 14,493  
Available for sale, amortized cost, due after five years through ten years 5,705  
Available for sale, amortized cost, due after ten years 14,799  
Available for sale, amortized cost, total 37,773  
Fair Value    
Available for sale, fair value, due in less than one year 2,790  
Available for sale, fair value, due after one year through five years 14,807  
Available for sale, fair value, due after five years through ten years 5,698  
Available for sale, fair value, due after ten years 14,234  
Available for sale, fair value, total 37,529  
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities    
Amortized Cost    
Held to maturity, amortized cost, total 747,004  
Fair Value    
Held to maturity, fair value, total 709,492 627,398
Amortized Cost    
Available for sale, amortized cost, total 1,335,336 1,234,721
Fair Value    
Available for sale, fair value, total 1,244,670 1,222,720
Private mortgage-backed securities and collateralized mortgage obligations    
Amortized Cost    
Held to maturity, amortized cost, total 0  
Fair Value    
Held to maturity, fair value, total 0  
Amortized Cost    
Available for sale, amortized cost, total 114,286 88,096
Fair Value    
Available for sale, fair value, total 111,296 88,767
Collateralized loan obligations    
Amortized Cost    
Held to maturity, amortized cost, total 0  
Fair Value    
Held to maturity, fair value, total 0  
Amortized Cost    
Available for sale, amortized cost, total 315,168 292,751
Fair Value    
Available for sale, fair value, total $ 313,124 $ 292,690
v3.22.1
Securities - Schedule of Unrealized Loss and Fair Value on Investments (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Fair Value    
Less Than 12 Months $ 1,481,375 $ 1,113,319
12 Months or Longer 120,722 31,287
Total 1,602,097 1,144,606
Unrealized Losses    
Less Than 12 Months (86,274) (19,831)
12 Months or Longer (11,355) (1,026)
Total (97,629) (20,857)
U.S. Treasury securities and obligations of U.S. government agencies    
Fair Value    
Less Than 12 Months 303 97
12 Months or Longer 229 245
Total 532 342
Unrealized Losses    
Less Than 12 Months (11) (1)
12 Months or Longer (2) (2)
Total (13) (3)
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities    
Fair Value    
Less Than 12 Months 1,089,150 955,881
12 Months or Longer 100,982 11,953
Total 1,190,132 967,834
Unrealized Losses    
Less Than 12 Months (80,423) (19,575)
12 Months or Longer (11,072) (734)
Total (91,495) (20,309)
Private mortgage-backed securities and collateralized mortgage obligations    
Fair Value    
Less Than 12 Months 84,333 33,640
12 Months or Longer 4,721 9,628
Total 89,054 43,268
Unrealized Losses    
Less Than 12 Months (3,109) (173)
12 Months or Longer (165) (247)
Total (3,274) (420)
Collateralized loan obligations    
Fair Value    
Less Than 12 Months 298,334 123,202
12 Months or Longer 14,790 9,461
Total 313,124 132,663
Unrealized Losses    
Less Than 12 Months (1,928) (81)
12 Months or Longer (116) (43)
Total (2,044) (124)
Obligations of state and political subdivisions    
Fair Value    
Less Than 12 Months 9,255 499
12 Months or Longer 0 0
Total 9,255 499
Unrealized Losses    
Less Than 12 Months (803) (1)
12 Months or Longer 0 0
Total $ (803) $ (1)
v3.22.1
Loans - Schedule of Portfolio Loans, Purchased Credit Impaired Loans and Purchased Unimpaired Loans (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans $ 6,451,217 $ 5,925,029
Construction and land development    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 259,421 230,824
Commercial real estate - owner-occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 1,284,515 1,197,774
Commercial real estate - non owner-occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 1,966,150 1,736,439
Residential real estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 1,599,645 1,425,354
Commercial and financial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 1,132,506 1,069,356
Consumer    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 169,724 174,175
Paycheck Protection Program    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 39,256 91,107
Acquired Non-PCD Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 1,133,884 868,418
Acquired Non-PCD Loans | Construction and land development    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 33,231 31,438
Acquired Non-PCD Loans | Commercial real estate - owner-occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 273,498 186,812
Acquired Non-PCD Loans | Commercial real estate - non owner-occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 488,400 382,554
Acquired Non-PCD Loans | Residential real estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 214,401 156,957
Acquired Non-PCD Loans | Commercial and financial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 110,161 84,395
Acquired Non-PCD Loans | Consumer    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 4,074 4,658
Acquired Non-PCD Loans | Paycheck Protection Program    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 10,119 21,604
PCD Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 118,223 126,939
PCD Loans | Construction and land development    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 41 45
PCD Loans | Commercial real estate - owner-occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 20,088 27,445
PCD Loans | Commercial real estate - non owner-occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 77,480 75,705
PCD Loans | Residential real estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 5,333 7,091
PCD Loans | Commercial and financial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 15,281 16,643
PCD Loans | Consumer    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 0 10
PCD Loans | Paycheck Protection Program    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 0 0
Portfolio Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 5,199,110 4,929,672
Portfolio Loans | Construction and land development    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 226,149 199,341
Portfolio Loans | Commercial real estate - owner-occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 990,929 983,517
Portfolio Loans | Commercial real estate - non owner-occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 1,400,270 1,278,180
Portfolio Loans | Residential real estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 1,379,911 1,261,306
Portfolio Loans | Commercial and financial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 1,007,064 968,318
Portfolio Loans | Consumer    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 165,650 169,507
Portfolio Loans | Paycheck Protection Program    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans $ 29,137 $ 69,503
v3.22.1
Loans - Narrative (Details)
$ in Thousands
 3 Months Ended 11 Months Ended
Mar. 31, 2022
USD ($)
contract
Mar. 31, 2021
USD ($)
contract
Dec. 31, 2021
USD ($)
Financing Receivable, Troubled Debt Restructuring [Line Items]      
Net deferred costs $ 27,600   $ 31,000
Accrued interest receivable 15,500   14,700
Interest income from securities with no related allowance 800 $ 200  
Allowance for credit loss on TDRs $ 200 $ 200  
Number of loans under trouble debt restructuring | contract 1 0  
Amount of loans in default $ 33    
Interest income related to impaired loans with impairment measured on present value of expected future cash flows 5 $ 5  
Loans      
Financing Receivable, Troubled Debt Restructuring [Line Items]      
Remaining fair value adjustment for loans acquired $ 24,100   $ 23,100
Percentage of fair value adjustment for loans acquired 1.90%   2.30%
Portfolio Loans | Paycheck Protection Program      
Financing Receivable, Troubled Debt Restructuring [Line Items]      
Net deferred fees $ 1,000   $ 2,400
v3.22.1
Loans - Past Due Financing Receivables (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Financing Receivable, Past Due [Line Items]    
Loans $ 6,451,217 $ 5,925,029
Nonaccrual 26,209 30,598
Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 1,133,884 868,418
Nonaccrual 2,729 3,454
PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 118,223 126,939
Nonaccrual 11,483 11,322
Current    
Financing Receivable, Past Due [Line Items]    
Loans 6,420,359 5,888,713
Current | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 1,130,873 864,410
Current | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 106,740 115,617
Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans 3,876 5,190
Accruing 30-59 Days Past Due | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 282 317
Accruing 30-59 Days Past Due | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans 733 407
Accruing 60-89 Days Past Due | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 200
Accruing 60-89 Days Past Due | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Loans 40 121
Accruing Greater Than 90 Days | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 37
Accruing Greater Than 90 Days | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Construction and land development    
Financing Receivable, Past Due [Line Items]    
Loans 259,421 230,824
Nonaccrual 232 259
Construction and land development | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 33,231 31,438
Nonaccrual 0 0
Construction and land development | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 41 45
Nonaccrual 4 5
Construction and land development | Current | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 33,231 31,438
Construction and land development | Current | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 37 40
Construction and land development | Accruing 30-59 Days Past Due | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Construction and land development | Accruing 30-59 Days Past Due | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Construction and land development | Accruing 60-89 Days Past Due | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Construction and land development | Accruing 60-89 Days Past Due | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Construction and land development | Accruing Greater Than 90 Days | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Construction and land development | Accruing Greater Than 90 Days | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Commercial real estate - owner-occupied    
Financing Receivable, Past Due [Line Items]    
Loans 1,284,515 1,197,774
Nonaccrual 3,842 3,966
Commercial real estate - owner-occupied | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 273,498 186,812
Nonaccrual 0 0
Commercial real estate - owner-occupied | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 20,088 27,445
Nonaccrual 3,173 3,253
Commercial real estate - owner-occupied | Current | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 273,498 186,652
Commercial real estate - owner-occupied | Current | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 16,915 24,192
Commercial real estate - owner-occupied | Accruing 30-59 Days Past Due | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Commercial real estate - owner-occupied | Accruing 30-59 Days Past Due | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Commercial real estate - owner-occupied | Accruing 60-89 Days Past Due | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 160
Commercial real estate - owner-occupied | Accruing 60-89 Days Past Due | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Commercial real estate - owner-occupied | Accruing Greater Than 90 Days | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Commercial real estate - owner-occupied | Accruing Greater Than 90 Days | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Commercial real estate - non owner-occupied    
Financing Receivable, Past Due [Line Items]    
Loans 1,966,150 1,736,439
Nonaccrual 4,782 5,905
Commercial real estate - non owner-occupied | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 488,400 382,554
Nonaccrual 1,225 1,044
Commercial real estate - non owner-occupied | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 77,480 75,705
Nonaccrual 3,224 3,263
Commercial real estate - non owner-occupied | Current | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 487,175 381,510
Commercial real estate - non owner-occupied | Current | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 74,256 72,442
Commercial real estate - non owner-occupied | Accruing 30-59 Days Past Due | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Commercial real estate - non owner-occupied | Accruing 30-59 Days Past Due | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Commercial real estate - non owner-occupied | Accruing 60-89 Days Past Due | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Commercial real estate - non owner-occupied | Accruing 60-89 Days Past Due | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Commercial real estate - non owner-occupied | Accruing Greater Than 90 Days | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Commercial real estate - non owner-occupied | Accruing Greater Than 90 Days | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Residential real estate    
Financing Receivable, Past Due [Line Items]    
Loans 1,599,645 1,425,354
Nonaccrual 9,242 13,045
Residential real estate | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 214,401 156,957
Nonaccrual 1,193 1,794
Residential real estate | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 5,333 7,091
Nonaccrual 709 1,705
Residential real estate | Current | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 213,208 154,981
Residential real estate | Current | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 4,624 5,386
Residential real estate | Accruing 30-59 Days Past Due | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 182
Residential real estate | Accruing 30-59 Days Past Due | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Residential real estate | Accruing 60-89 Days Past Due | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Residential real estate | Accruing 60-89 Days Past Due | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Residential real estate | Accruing Greater Than 90 Days | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Residential real estate | Accruing Greater Than 90 Days | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Commercial and financial    
Financing Receivable, Past Due [Line Items]    
Loans 1,132,506 1,069,356
Nonaccrual 7,750 6,869
Commercial and financial | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 110,161 84,395
Nonaccrual 74 175
Commercial and financial | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 15,281 16,643
Nonaccrual 4,373 3,096
Commercial and financial | Current | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 109,805 84,180
Commercial and financial | Current | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 10,908 13,547
Commercial and financial | Accruing 30-59 Days Past Due | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 282 0
Commercial and financial | Accruing 30-59 Days Past Due | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Commercial and financial | Accruing 60-89 Days Past Due | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 40
Commercial and financial | Accruing 60-89 Days Past Due | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Commercial and financial | Accruing Greater Than 90 Days | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Commercial and financial | Accruing Greater Than 90 Days | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Consumer    
Financing Receivable, Past Due [Line Items]    
Loans 169,724 174,175
Nonaccrual 361 554
Consumer | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 4,074 4,658
Nonaccrual 237 441
Consumer | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 10
Nonaccrual 0 0
Consumer | Current | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 3,837 4,082
Consumer | Current | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 10
Consumer | Accruing 30-59 Days Past Due | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 135
Consumer | Accruing 30-59 Days Past Due | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Consumer | Accruing 60-89 Days Past Due | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Consumer | Accruing 60-89 Days Past Due | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Consumer | Accruing Greater Than 90 Days | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Consumer | Accruing Greater Than 90 Days | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Paycheck Protection Program    
Financing Receivable, Past Due [Line Items]    
Loans 39,256 91,107
Paycheck Protection Program | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 10,119 21,604
Nonaccrual 0 0
Paycheck Protection Program | PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Paycheck Protection Program | Current | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 10,119 21,567
Paycheck Protection Program | Accruing 30-59 Days Past Due | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Paycheck Protection Program | Accruing 60-89 Days Past Due | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Paycheck Protection Program | Accruing Greater Than 90 Days | Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Loans 0 37
Portfolio Loans    
Financing Receivable, Past Due [Line Items]    
Loans 5,199,110 4,929,672
Nonaccrual 11,997 15,822
Portfolio Loans | Current    
Financing Receivable, Past Due [Line Items]    
Loans 5,182,746 4,908,686
Portfolio Loans | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans 3,594 4,873
Portfolio Loans | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans 733 207
Portfolio Loans | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Loans 40 84
Portfolio Loans | Construction and land development    
Financing Receivable, Past Due [Line Items]    
Loans 226,149 199,341
Nonaccrual 228 254
Portfolio Loans | Construction and land development | Current    
Financing Receivable, Past Due [Line Items]    
Loans 225,921 199,087
Portfolio Loans | Construction and land development | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Portfolio Loans | Construction and land development | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Portfolio Loans | Construction and land development | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Portfolio Loans | Commercial real estate - owner-occupied    
Financing Receivable, Past Due [Line Items]    
Loans 990,929 983,517
Nonaccrual 669 713
Portfolio Loans | Commercial real estate - owner-occupied | Current    
Financing Receivable, Past Due [Line Items]    
Loans 990,260 982,804
Portfolio Loans | Commercial real estate - owner-occupied | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Portfolio Loans | Commercial real estate - owner-occupied | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Portfolio Loans | Commercial real estate - owner-occupied | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Portfolio Loans | Commercial real estate - non owner-occupied    
Financing Receivable, Past Due [Line Items]    
Loans 1,400,270 1,278,180
Nonaccrual 333 1,598
Portfolio Loans | Commercial real estate - non owner-occupied | Current    
Financing Receivable, Past Due [Line Items]    
Loans 1,399,902 1,276,582
Portfolio Loans | Commercial real estate - non owner-occupied | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans 35 0
Portfolio Loans | Commercial real estate - non owner-occupied | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Portfolio Loans | Commercial real estate - non owner-occupied | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Portfolio Loans | Residential real estate    
Financing Receivable, Past Due [Line Items]    
Loans 1,379,911 1,261,306
Nonaccrual 7,340 9,546
Portfolio Loans | Residential real estate | Current    
Financing Receivable, Past Due [Line Items]    
Loans 1,372,141 1,248,160
Portfolio Loans | Residential real estate | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans 155 3,457
Portfolio Loans | Residential real estate | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans 275 143
Portfolio Loans | Residential real estate | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Portfolio Loans | Commercial and financial    
Financing Receivable, Past Due [Line Items]    
Loans 1,007,064 968,318
Nonaccrual 3,303 3,598
Portfolio Loans | Commercial and financial | Current    
Financing Receivable, Past Due [Line Items]    
Loans 1,000,983 963,828
Portfolio Loans | Commercial and financial | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans 2,738 851
Portfolio Loans | Commercial and financial | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans 0 41
Portfolio Loans | Commercial and financial | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Loans 40 0
Portfolio Loans | Consumer    
Financing Receivable, Past Due [Line Items]    
Loans 165,650 169,507
Nonaccrual 124 113
Portfolio Loans | Consumer | Current    
Financing Receivable, Past Due [Line Items]    
Loans 164,430 168,791
Portfolio Loans | Consumer | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans 638 565
Portfolio Loans | Consumer | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans 458 23
Portfolio Loans | Consumer | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Loans 0 15
Portfolio Loans | Paycheck Protection Program    
Financing Receivable, Past Due [Line Items]    
Loans 29,137 69,503
Nonaccrual 0 0
Portfolio Loans | Paycheck Protection Program | Current    
Financing Receivable, Past Due [Line Items]    
Loans 29,109 69,434
Portfolio Loans | Paycheck Protection Program | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans 28 0
Portfolio Loans | Paycheck Protection Program | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans 0 0
Portfolio Loans | Paycheck Protection Program | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Loans $ 0 $ 69
v3.22.1
Loans - Schedule of Nonaccrual Loans by Loan Category (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual Loans With No Related Allowance $ 19,541 $ 22,566
Nonaccrual Loans With an Allowance 6,668 8,032
Total Nonaccrual Loans 26,209 30,598
Allowance for Credit Losses 2,796 3,804
Construction and land development    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual Loans With No Related Allowance 12 37
Nonaccrual Loans With an Allowance 220 222
Total Nonaccrual Loans 232 259
Allowance for Credit Losses 89 92
Commercial real estate - owner-occupied    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual Loans With No Related Allowance 2,871 2,976
Nonaccrual Loans With an Allowance 971 990
Total Nonaccrual Loans 3,842 3,966
Allowance for Credit Losses 380 419
Commercial real estate - non owner-occupied    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual Loans With No Related Allowance 3,406 4,490
Nonaccrual Loans With an Allowance 1,376 1,415
Total Nonaccrual Loans 4,782 5,905
Allowance for Credit Losses 18 27
Residential real estate    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual Loans With No Related Allowance 9,145 12,358
Nonaccrual Loans With an Allowance 97 687
Total Nonaccrual Loans 9,242 13,045
Allowance for Credit Losses 35 357
Commercial and financial    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual Loans With No Related Allowance 4,084 2,676
Nonaccrual Loans With an Allowance 3,666 4,193
Total Nonaccrual Loans 7,750 6,869
Allowance for Credit Losses 1,945 2,384
Consumer    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual Loans With No Related Allowance 23 29
Nonaccrual Loans With an Allowance 338 525
Total Nonaccrual Loans 361 554
Allowance for Credit Losses $ 329 $ 525
v3.22.1
Loans - Schedule of Collateral Dependent Loans (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total collateral dependent loans $ 29,441 $ 35,716
Construction and land development    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total collateral dependent loans 248 271
Commercial real estate - owner-occupied    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total collateral dependent loans 4,581 4,706
Commercial real estate - non owner-occupied    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total collateral dependent loans 3,619 4,923
Residential real estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total collateral dependent loans 12,482 16,334
Commercial and financial    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total collateral dependent loans 8,033 8,741
Consumer    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total collateral dependent loans $ 478 $ 741
v3.22.1
Loans - Risk Categories of Loans by Class of Loans (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year $ 322,796 $ 1,563,032
One year prior to current fiscal year 1,751,081 745,584
Two years prior to current fiscal year 768,351 751,942
Three years prior to current fiscal year 756,406 581,648
Four years prior to current fiscal year 551,150 423,022
Prior 1,571,242 1,181,217
Revolving 730,191 678,584
Total 6,451,217 5,925,029
Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 322,796 1,562,502
One year prior to current fiscal year 1,750,126 716,570
Two years prior to current fiscal year 740,157 729,697
Three years prior to current fiscal year 732,595 549,567
Four years prior to current fiscal year 519,701 408,614
Prior 1,509,883 1,125,909
Revolving 723,635 672,256
Total 6,298,893 5,765,115
Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 530
One year prior to current fiscal year 511 22,138
Two years prior to current fiscal year 21,463 6,645
Three years prior to current fiscal year 6,708 993
Four years prior to current fiscal year 927 925
Prior 14,362 18,430
Revolving 2,208 2,607
Total 46,179 52,268
Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 437 5,487
Two years prior to current fiscal year 5,303 5,632
Three years prior to current fiscal year 7,825 26,800
Four years prior to current fiscal year 25,305 6,701
Prior 29,453 22,515
Revolving 1,015 648
Total 69,338 67,783
Substandard Impaired    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 7 1,389
Two years prior to current fiscal year 1,428 9,968
Three years prior to current fiscal year 9,278 4,288
Four years prior to current fiscal year 5,217 6,782
Prior 17,544 14,363
Revolving 3,333 3,073
Total 36,807 39,863
Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 0 0
Two years prior to current fiscal year 0 0
Three years prior to current fiscal year 0 0
Four years prior to current fiscal year 0 0
Prior 0 0
Revolving 0 0
Total 0 0
Construction and land development    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 15,252 94,318
One year prior to current fiscal year 118,289 23,860
Two years prior to current fiscal year 22,227 38,058
Three years prior to current fiscal year 30,059 25,729
Four years prior to current fiscal year 16,441 3,995
Prior 16,766 15,515
Revolving 40,387 29,349
Total 259,421 230,824
Construction and land development | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 15,252 94,318
One year prior to current fiscal year 118,289 23,860
Two years prior to current fiscal year 22,227 38,058
Three years prior to current fiscal year 30,059 25,507
Four years prior to current fiscal year 16,221 3,995
Prior 16,738 15,466
Revolving 40,387 29,349
Total 259,173 230,553
Construction and land development | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 0 0
Two years prior to current fiscal year 0 0
Three years prior to current fiscal year 0 0
Four years prior to current fiscal year 0 0
Prior 0 0
Revolving 0 0
Total 0 0
Construction and land development | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 0 0
Two years prior to current fiscal year 0 0
Three years prior to current fiscal year 0 0
Four years prior to current fiscal year 0 0
Prior 7 0
Revolving 0 0
Total 7 0
Construction and land development | Substandard Impaired    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 0 0
Two years prior to current fiscal year 0 0
Three years prior to current fiscal year 0 222
Four years prior to current fiscal year 220 0
Prior 21 49
Revolving 0 0
Total 241 271
Construction and land development | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 0 0
Two years prior to current fiscal year 0 0
Three years prior to current fiscal year 0 0
Four years prior to current fiscal year 0 0
Prior 0 0
Revolving 0 0
Total 0 0
Commercial real estate - owner-occupied    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 57,482 205,404
One year prior to current fiscal year 216,122 160,959
Two years prior to current fiscal year 168,302 187,898
Three years prior to current fiscal year 200,202 133,312
Four years prior to current fiscal year 129,090 129,867
Prior 501,538 370,329
Revolving 11,779 10,005
Total 1,284,515 1,197,774
Commercial real estate - owner-occupied | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 57,482 205,404
One year prior to current fiscal year 216,122 154,432
Two years prior to current fiscal year 161,838 179,786
Three years prior to current fiscal year 192,208 132,353
Four years prior to current fiscal year 128,139 125,763
Prior 492,637 363,986
Revolving 11,429 10,005
Total 1,259,855 1,171,729
Commercial real estate - owner-occupied | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 0 6,527
Two years prior to current fiscal year 6,464 5,370
Three years prior to current fiscal year 5,322 649
Four years prior to current fiscal year 641 218
Prior 1,528 3,250
Revolving 0 0
Total 13,955 16,014
Commercial real estate - owner-occupied | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 0 0
Two years prior to current fiscal year 0 0
Three years prior to current fiscal year 0 0
Four years prior to current fiscal year 0 3,290
Prior 5,359 1,610
Revolving 350 0
Total 5,709 4,900
Commercial real estate - owner-occupied | Substandard Impaired    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 0 0
Two years prior to current fiscal year 0 2,742
Three years prior to current fiscal year 2,672 310
Four years prior to current fiscal year 310 596
Prior 2,014 1,483
Revolving 0 0
Total 4,996 5,131
Commercial real estate - owner-occupied | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 0 0
Two years prior to current fiscal year 0 0
Three years prior to current fiscal year 0 0
Four years prior to current fiscal year 0 0
Prior 0 0
Revolving 0 0
Total 0 0
Commercial real estate - non owner-occupied    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 174,966 395,308
One year prior to current fiscal year 415,704 213,644
Two years prior to current fiscal year 233,724 303,723
Three years prior to current fiscal year 313,889 209,545
Four years prior to current fiscal year 209,509 113,505
Prior 610,795 494,237
Revolving 7,563 6,477
Total 1,966,150 1,736,439
Commercial real estate - non owner-occupied | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 174,966 395,308
One year prior to current fiscal year 415,704 207,824
Two years prior to current fiscal year 227,927 298,021
Three years prior to current fiscal year 305,852 186,339
Four years prior to current fiscal year 186,363 110,990
Prior 578,279 460,435
Revolving 7,563 6,477
Total 1,896,654 1,665,394
Commercial real estate - non owner-occupied | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 0 0
Two years prior to current fiscal year 0 844
Three years prior to current fiscal year 837 0
Four years prior to current fiscal year 0 289
Prior 10,640 13,850
Revolving 0 0
Total 11,477 14,983
Commercial real estate - non owner-occupied | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 0 4,776
Two years prior to current fiscal year 4,753 3,009
Three years prior to current fiscal year 5,351 23,206
Four years prior to current fiscal year 23,146 1,900
Prior 19,242 17,266
Revolving 0 0
Total 52,492 50,157
Commercial real estate - non owner-occupied | Substandard Impaired    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 0 1,044
Two years prior to current fiscal year 1,044 1,849
Three years prior to current fiscal year 1,849 0
Four years prior to current fiscal year 0 326
Prior 2,634 2,686
Revolving 0 0
Total 5,527 5,905
Commercial real estate - non owner-occupied | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 0 0
Two years prior to current fiscal year 0 0
Three years prior to current fiscal year 0 0
Four years prior to current fiscal year 0 0
Prior 0 0
Revolving 0 0
Total 0 0
Residential real estate    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 14,211 394,547
One year prior to current fiscal year 564,750 114,853
Two years prior to current fiscal year 121,445 91,290
Three years prior to current fiscal year 90,554 119,945
Four years prior to current fiscal year 110,519 123,029
Prior 323,950 224,122
Revolving 374,216 357,568
Total 1,599,645 1,425,354
Residential real estate | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 14,211 394,547
One year prior to current fiscal year 564,750 114,364
Two years prior to current fiscal year 120,963 90,566
Three years prior to current fiscal year 90,420 119,836
Four years prior to current fiscal year 110,413 118,556
Prior 311,573 213,950
Revolving 370,928 354,439
Total 1,583,258 1,406,258
Residential real estate | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 0 0
Two years prior to current fiscal year 0 0
Three years prior to current fiscal year 0 70
Four years prior to current fiscal year 13 0
Prior 1,120 1,243
Revolving 75 532
Total 1,208 1,845
Residential real estate | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 0 340
Two years prior to current fiscal year 338 0
Three years prior to current fiscal year 0 0
Four years prior to current fiscal year 55 58
Prior 1,480 422
Revolving 201 86
Total 2,074 906
Residential real estate | Substandard Impaired    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 0 149
Two years prior to current fiscal year 144 724
Three years prior to current fiscal year 134 39
Four years prior to current fiscal year 38 4,415
Prior 9,777 8,507
Revolving 3,012 2,511
Total 13,105 16,345
Residential real estate | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 0 0
Two years prior to current fiscal year 0 0
Three years prior to current fiscal year 0 0
Four years prior to current fiscal year 0 0
Prior 0 0
Revolving 0 0
Total 0 0
Commercial and financial    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 51,836 341,356
One year prior to current fiscal year 351,527 196,831
Two years prior to current fiscal year 191,698 104,238
Three years prior to current fiscal year 98,036 75,757
Four years prior to current fiscal year 70,248 42,389
Prior 96,683 60,874
Revolving 272,478 247,911
Total 1,132,506 1,069,356
Commercial and financial | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 51,836 340,826
One year prior to current fiscal year 351,023 180,677
Two years prior to current fiscal year 176,311 97,072
Three years prior to current fiscal year 90,587 68,232
Four years prior to current fiscal year 63,294 39,331
Prior 89,736 56,053
Revolving 271,721 246,568
Total 1,094,508 1,028,759
Commercial and financial | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 530
One year prior to current fiscal year 504 15,587
Two years prior to current fiscal year 14,956 0
Three years prior to current fiscal year 449 237
Four years prior to current fiscal year 235 251
Prior 637 84
Revolving 385 876
Total 17,166 17,565
Commercial and financial | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 0 371
Two years prior to current fiscal year 212 2,605
Three years prior to current fiscal year 2,466 3,594
Four years prior to current fiscal year 2,104 1,436
Prior 3,365 3,217
Revolving 273 339
Total 8,420 11,562
Commercial and financial | Substandard Impaired    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 0 196
Two years prior to current fiscal year 219 4,561
Three years prior to current fiscal year 4,534 3,694
Four years prior to current fiscal year 4,615 1,371
Prior 2,945 1,520
Revolving 99 128
Total 12,412 11,470
Commercial and financial | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 0 0
Two years prior to current fiscal year 0 0
Three years prior to current fiscal year 0 0
Four years prior to current fiscal year 0 0
Prior 0 0
Revolving 0 0
Total 0 0
Consumer    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 9,049 45,063
One year prior to current fiscal year 47,385 31,366
Two years prior to current fiscal year 29,003 26,735
Three years prior to current fiscal year 23,666 17,360
Four years prior to current fiscal year 15,343 10,237
Prior 21,510 16,140
Revolving 23,768 27,274
Total 169,724 174,175
Consumer | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 9,049 45,063
One year prior to current fiscal year 46,934 31,342
Two years prior to current fiscal year 28,939 26,194
Three years prior to current fiscal year 23,469 17,300
Four years prior to current fiscal year 15,271 9,979
Prior 20,920 16,019
Revolving 21,607 25,418
Total 166,189 171,315
Consumer | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 7 24
Two years prior to current fiscal year 43 431
Three years prior to current fiscal year 100 37
Four years prior to current fiscal year 38 167
Prior 437 3
Revolving 1,748 1,199
Total 2,373 1,861
Consumer | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 437 0
Two years prior to current fiscal year 0 18
Three years prior to current fiscal year 8 0
Four years prior to current fiscal year 0 17
Prior 0 0
Revolving 191 223
Total 636 258
Consumer | Substandard Impaired    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 7 0
Two years prior to current fiscal year 21 92
Three years prior to current fiscal year 89 23
Four years prior to current fiscal year 34 74
Prior 153 118
Revolving 222 434
Total 526 741
Consumer | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 0
One year prior to current fiscal year 0 0
Two years prior to current fiscal year 0 0
Three years prior to current fiscal year 0 0
Four years prior to current fiscal year 0 0
Prior 0 0
Revolving 0 0
Total 0 0
Paycheck Protection Program    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 87,036
One year prior to current fiscal year 37,304 4,071
Two years prior to current fiscal year 1,952 0
Three years prior to current fiscal year 0 0
Four years prior to current fiscal year 0 0
Prior 0 0
Revolving 0 0
Total 39,256 91,107
Paycheck Protection Program | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current fiscal year 0 87,036
One year prior to current fiscal year 37,304 4,071
Two years prior to current fiscal year 1,952 0
Three years prior to current fiscal year 0 0
Four years prior to current fiscal year 0 0
Prior 0 0
Revolving 0 0
Total $ 39,256 $ 91,107
v3.22.1
Loans - Troubled Debt Restructuring (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
USD ($)
contract
Mar. 31, 2021
USD ($)
contract
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Number of Contracts | contract 8 1
Pre-Modification Outstanding Recorded Investment $ 840 $ 27
Post-Modification Outstanding Recorded Investment $ 840 $ 27
Construction and land development    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Number of Contracts | contract 0 0
Pre-Modification Outstanding Recorded Investment $ 0 $ 0
Post-Modification Outstanding Recorded Investment $ 0 $ 0
Commercial real estate - owner-occupied    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Number of Contracts | contract 0 0
Pre-Modification Outstanding Recorded Investment $ 0 $ 0
Post-Modification Outstanding Recorded Investment $ 0 $ 0
Commercial real estate - non owner-occupied    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Number of Contracts | contract 0 0
Pre-Modification Outstanding Recorded Investment $ 0 $ 0
Post-Modification Outstanding Recorded Investment $ 0 $ 0
Residential real estate    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Number of Contracts | contract 3 1
Pre-Modification Outstanding Recorded Investment $ 785 $ 27
Post-Modification Outstanding Recorded Investment $ 785 $ 27
Commercial and financial    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Number of Contracts | contract 1 0
Pre-Modification Outstanding Recorded Investment $ 33 $ 0
Post-Modification Outstanding Recorded Investment $ 33 $ 0
Consumer    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Number of Contracts | contract 4 0
Pre-Modification Outstanding Recorded Investment $ 22 $ 0
Post-Modification Outstanding Recorded Investment $ 22 $ 0
v3.22.1
Allowance for Credit Losses - Activity in Allowance for Credit Losses (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning Balance $ 83,315 $ 92,733
Initial Allowance on PCD Loans Acquired During the Period 51  
Provision for Credit Losses 6,556 (5,715)
Charge- Offs (665) (941)
Recoveries 586 571
TDR Allowance Adjustments (5) (5)
Ending Balance 89,838 86,643
Construction and land development    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning Balance 2,751 4,920
Initial Allowance on PCD Loans Acquired During the Period 0  
Provision for Credit Losses (493) (510)
Charge- Offs 0 0
Recoveries 10 18
TDR Allowance Adjustments 0 0
Ending Balance 2,268 4,428
Commercial real estate - owner-occupied    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning Balance 8,579 9,868
Initial Allowance on PCD Loans Acquired During the Period 0  
Provision for Credit Losses 715 (76)
Charge- Offs 0 0
Recoveries 0 0
TDR Allowance Adjustments 0 0
Ending Balance 9,294 9,792
Commercial real estate - non owner-occupied    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning Balance 36,617 38,266
Initial Allowance on PCD Loans Acquired During the Period 31  
Provision for Credit Losses 7,274 (2,038)
Charge- Offs 0 0
Recoveries 0 1
TDR Allowance Adjustments 0 0
Ending Balance 43,922 36,229
Residential real estate    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning Balance 12,811 17,500
Initial Allowance on PCD Loans Acquired During the Period 17  
Provision for Credit Losses 1,060 (3,372)
Charge- Offs (1) 0
Recoveries 191 229
TDR Allowance Adjustments (3) (4)
Ending Balance 14,075 14,353
Commercial and financial    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning Balance 19,744 18,690
Initial Allowance on PCD Loans Acquired During the Period 3  
Provision for Credit Losses (1,628) 775
Charge- Offs (569) (756)
Recoveries 177 207
TDR Allowance Adjustments 0 0
Ending Balance 17,727 18,916
Consumer    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning Balance 2,813 3,489
Initial Allowance on PCD Loans Acquired During the Period 0  
Provision for Credit Losses (372) (494)
Charge- Offs (95) (185)
Recoveries 208 116
TDR Allowance Adjustments (2) (1)
Ending Balance 2,552 2,925
Paycheck Protection Program    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning Balance 0 0
Initial Allowance on PCD Loans Acquired During the Period 0  
Provision for Credit Losses 0 0
Charge- Offs 0 0
Recoveries 0 0
TDR Allowance Adjustments 0 0
Ending Balance $ 0 $ 0
v3.22.1
Allowance for Credit Losses - Schedule of Loan Portfolio, Excluding PCI Loans and Related Allowance (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Mar. 31, 2021
Dec. 31, 2020
Recorded Investment        
Individually Evaluated $ 37,637 $ 39,863    
Collectively Evaluated 6,413,580 5,885,166    
Total 6,451,217 5,925,029    
Associated Allowance        
Individually Evaluated 4,560 4,754    
Collectively Evaluated 85,278 78,561    
 Total 89,838 83,315 $ 86,643 $ 92,733
Construction and land development        
Recorded Investment        
Individually Evaluated 248 271    
Collectively Evaluated 259,173 230,553    
Total 259,421 230,824    
Associated Allowance        
Individually Evaluated 89 92    
Collectively Evaluated 2,179 2,659    
 Total 2,268 2,751 4,428 4,920
Commercial real estate - owner-occupied        
Recorded Investment        
Individually Evaluated 4,996 5,131    
Collectively Evaluated 1,279,519 1,192,643    
Total 1,284,515 1,197,774    
Associated Allowance        
Individually Evaluated 380 419    
Collectively Evaluated 8,914 8,160    
 Total 9,294 8,579 9,792 9,868
Commercial real estate - non owner-occupied        
Recorded Investment        
Individually Evaluated 5,527 5,905    
Collectively Evaluated 1,960,623 1,730,534    
Total 1,966,150 1,736,439    
Associated Allowance        
Individually Evaluated 787 27    
Collectively Evaluated 43,135 36,590    
 Total 43,922 36,617 36,229 38,266
Residential real estate        
Recorded Investment        
Individually Evaluated 13,154 16,345    
Collectively Evaluated 1,586,491 1,409,009    
Total 1,599,645 1,425,354    
Associated Allowance        
Individually Evaluated 312 646    
Collectively Evaluated 13,763 12,165    
 Total 14,075 12,811 14,353 17,500
Commercial and financial        
Recorded Investment        
Individually Evaluated 13,172 11,470    
Collectively Evaluated 1,119,334 1,057,886    
Total 1,132,506 1,069,356    
Associated Allowance        
Individually Evaluated 2,511 2,885    
Collectively Evaluated 15,216 16,859    
 Total 17,727 19,744 18,916 18,690
Consumer        
Recorded Investment        
Individually Evaluated 540 741    
Collectively Evaluated 169,184 173,434    
Total 169,724 174,175    
Associated Allowance        
Individually Evaluated 481 685    
Collectively Evaluated 2,071 2,128    
 Total 2,552 2,813 2,925 3,489
Paycheck Protection Program        
Recorded Investment        
Individually Evaluated 0 0    
Collectively Evaluated 39,256 91,107    
Total 39,256 91,107    
Associated Allowance        
Individually Evaluated 0 0    
Collectively Evaluated 0 0    
 Total $ 0 $ 0 $ 0 $ 0
v3.22.1
Derivatives - Narrative (Details)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2022
USD ($)
contract
Dec. 31, 2021
USD ($)
Derivative [Line Items]    
Loss recognized in OCI $ 200  
Reclassification from AOCI into income 100  
Back-to-Back Swap    
Derivative [Line Items]    
Notional amount $ 209,904 $ 175,392
Weighted average maturity (in years) 6 years 6 months 6 years 8 months 12 days
Back-to-Back Swap | Other Assets and Other Liabilities    
Derivative [Line Items]    
Fair value of derivative assets and liabilities $ 8,923 $ 8,022
Interest Rate Floor    
Derivative [Line Items]    
Notional amount $ 300,000 300,000
Number of derivative contracts | contract 2  
Amount expected to be reclassified from accumulated other comprehensive income into interest income $ 400  
Interest Rate Floor | Other Assets    
Derivative [Line Items]    
Fair value of derivative assets and liabilities 122 290
Fair value of derivative assets 100 $ 300
Interest Rate Floor, October 2023 Maturity    
Derivative [Line Items]    
Notional amount 150,000  
Interest Rate Floor, November 2023 Maturity    
Derivative [Line Items]    
Notional amount $ 150,000  
v3.22.1
Derivatives - Schedule of Derivative Instruments (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Back-to-back swaps    
Derivative Instruments, Gain (Loss) [Line Items]    
Notional amount $ 209,904 $ 175,392
Back-to-back swaps | Other Assets and Other Liabilities    
Derivative Instruments, Gain (Loss) [Line Items]    
Fair value of derivative assets and liabilities 8,923 8,022
Interest rate floors    
Derivative Instruments, Gain (Loss) [Line Items]    
Notional amount 300,000 300,000
Interest rate floors | Other Assets    
Derivative Instruments, Gain (Loss) [Line Items]    
Fair value of derivative assets and liabilities $ 122 $ 290
v3.22.1
Securities Sold Under Agreements to Repurchase - Schedule of Securities Sold Under Agreements to Repurchase and Securities Pledged (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Fair Value | Repurchase Agreement | Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities | Asset Pledged as Collateral    
Fair value of pledged securities - overnight and continuous:    
Fair value of debt securities pledged as collateral $ 152,817 $ 134,577
v3.22.1
Equity Capital (Details)
Mar. 31, 2022
Equity [Abstract]  
Regulatory threshold percentage for well-capitalized institutions 0.065
v3.22.1
Fair Value - Fair Value of Assets Measured on Recurring and Nonrecurring Basis (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Financial Assets    
Available-for-sale debt securities $ 1,706,619 $ 1,644,319
Loans held for sale 20,615 31,791
Other real estate owned 11,567 13,618
Fair Value, Measurements, Recurring    
Financial Assets    
Available-for-sale debt securities 1,706,619 1,644,319
Derivative financial instruments 9,045 8,312
Loans held for sale 20,615 31,791
Equity securities 8,864 9,316
Financial Liabilities    
Derivative financial instruments 8,923 8,022
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Financial Assets    
Available-for-sale debt securities 191 197
Derivative financial instruments 0 0
Loans held for sale 0 0
Equity securities 8,864 9,316
Financial Liabilities    
Derivative financial instruments 0 0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)    
Financial Assets    
Available-for-sale debt securities 1,706,428 1,644,122
Derivative financial instruments 9,045 8,312
Loans held for sale 20,615 31,791
Equity securities 0 0
Financial Liabilities    
Derivative financial instruments 8,923 8,022
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)    
Financial Assets    
Available-for-sale debt securities 0 0
Derivative financial instruments 0 0
Loans held for sale 0 0
Equity securities 0 0
Financial Liabilities    
Derivative financial instruments 0 0
Fair Value, Measurements, Nonrecurring    
Financial Assets    
Loans 8,395 8,443
Other real estate owned 11,567 13,618
Fair Value, Measurements, Nonrecurring | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Financial Assets    
Loans 0 0
Other real estate owned 0 0
Fair Value, Measurements, Nonrecurring | Significant Other Observable Inputs (Level 2)    
Financial Assets    
Loans 1,517 1,558
Other real estate owned 2,420 0
Fair Value, Measurements, Nonrecurring | Significant Unobservable Inputs (Level 3)    
Financial Assets    
Loans 6,878 6,885
Other real estate owned $ 9,147 $ 13,618
v3.22.1
Fair Value - Aggregate Fair Value and Contractual Balance of Loans for Sale (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Value of loans held for sale $ 20,615 $ 31,791
Excess 528 828
Contractual Balance    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Value of loans held for sale $ 20,087 $ 30,963
v3.22.1
Fair Value - Narrative (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Average capitalization rate 7.00%  
Collateral-Dependent Real Estate    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value of impaired loans $ 12.7 $ 13.1
Specific reserve on collateral dependent loans $ 4.3 $ 4.7
v3.22.1
Fair Value - Carrying Amount and Fair Value of Other Significant Financial Instruments Not Measured on a Recurring Basis (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Financial Assets    
Debt securities held-to-maturity $ 747,004 $ 638,640
Time deposits with other banks 5,975 0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Financial Assets    
Debt securities held-to-maturity 0 0
Time deposits with other banks 0  
Loans, net 0 0
Financial Liabilities    
Deposit liabilities 0 0
Subordinated debt 0 0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)    
Financial Assets    
Debt securities held-to-maturity 709,492 627,398
Time deposits with other banks 5,933  
Loans, net 0 0
Financial Liabilities    
Deposit liabilities 0 0
Subordinated debt 69,416 69,348
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)    
Financial Assets    
Debt securities held-to-maturity 0 0
Time deposits with other banks 0  
Loans, net 6,423,158 5,907,447
Financial Liabilities    
Deposit liabilities 9,238,260 8,067,995
Subordinated debt 0 0
Carrying Value | Fair Value, Measurements, Recurring    
Financial Assets    
Debt securities held-to-maturity 747,004 638,640
Time deposits with other banks 5,975  
Loans, net 6,352,984 5,833,271
Financial Liabilities    
Deposit liabilities 9,243,768 8,067,589
Subordinated debt $ 71,716 $ 71,646
v3.22.1
Business Combinations - Narrative (Details)
 3 Months Ended 5 Months Ended
Jan. 03, 2022
USD ($)
branch
$ / shares
shares
Aug. 06, 2021
USD ($)
branch
$ / shares
shares
Mar. 31, 2022
USD ($)
branch
Dec. 31, 2021
USD ($)
Mar. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Business Acquisition [Line Items]            
Initial allowance for credit losses     $ 89,838,000 $ 83,315,000 $ 86,643,000 $ 92,733,000
Apollo Bancshares, Inc.            
Business Acquisition [Line Items]            
Number of branches operated | branch     5      
Deposits to be acquired in acquisition     $ 947,000,000      
Loans to be acquired in acquisition     $ 705,000,000      
Business Bank of Florida            
Business Acquisition [Line Items]            
Number of branches operated | branch 1          
Percentage of common stock acquired 100.00%          
Common stock portion, number of Seacoast stock for each share of stock converted (in shares) 0.7997          
Goodwill recognized from acquisition, nondeductible $ 8,000,000          
Initial allowance for credit losses 1,800,000          
Deposits to be acquired in acquisition 166,326,000          
Loans to be acquired in acquisition $ 121,774,000          
Business Bank of Florida | Stock Option | Seacoast 2021 Incentive Plan            
Business Acquisition [Line Items]            
Shares granted (in shares) | shares 52,432          
Weighted-average exercise price, granted (in dollars per share) | $ / shares $ 26.63          
Fair value of options converted $ 500,000          
Business Bank of Florida | PCD Loans            
Business Acquisition [Line Items]            
Initial allowance for credit losses 15,000          
Loans to be acquired in acquisition 651,000          
Business Bank of Florida | Acquired Non-PCD Loans            
Business Acquisition [Line Items]            
Initial allowance for credit losses $ 1,800,000          
Sabal Palm Bancorp, Inc.            
Business Acquisition [Line Items]            
Number of branches operated | branch 3          
Percentage of common stock acquired 100.00%          
Common stock portion, number of Seacoast stock for each share of stock converted (in shares) 0.2203          
Goodwill recognized from acquisition, nondeductible $ 26,500,000          
Fair value of options converted 3,336,000          
Initial allowance for credit losses 3,400,000          
Deposits to be acquired in acquisition 395,952,000          
Loans to be acquired in acquisition $ 246,152,000          
Sabal Palm Bancorp, Inc. | Stock Option | Seacoast 2021 Incentive Plan            
Business Acquisition [Line Items]            
Shares granted (in shares) | shares 188,253          
Weighted-average exercise price, granted (in dollars per share) | $ / shares $ 17.84          
Fair value of options converted $ 3,300,000          
Sabal Palm Bancorp, Inc. | PCD Loans            
Business Acquisition [Line Items]            
Initial allowance for credit losses 37,000          
Loans to be acquired in acquisition 3,003,000          
Sabal Palm Bancorp, Inc. | Acquired Non-PCD Loans            
Business Acquisition [Line Items]            
Initial allowance for credit losses $ 3,400,000          
Legacy Bank of Florida            
Business Acquisition [Line Items]            
Number of branches operated | branch   5        
Percentage of common stock acquired   100.00%        
Common stock portion, number of Seacoast stock for each share of stock converted (in shares) 0.7997 0.1703        
Goodwill recognized from acquisition, nondeductible   $ 31,000,000        
Fair value of options converted $ 497,000 4,736,000        
Initial allowance for credit losses   11,200,000        
Deposits to be acquired in acquisition   494,921,000        
Loans to be acquired in acquisition   $ 477,215,000        
Legacy Bank of Florida | Stock Option | Seacoast 2021 Incentive Plan            
Business Acquisition [Line Items]            
Shares granted (in shares) | shares   356,497        
Weighted-average exercise price, granted (in dollars per share) | $ / shares   $ 16.70        
Fair value of options converted   $ 4,700,000        
Share-based compensation expense       $ 900,000    
Legacy Bank of Florida | PCD Loans            
Business Acquisition [Line Items]            
Initial allowance for credit losses   3,000,000        
Loans to be acquired in acquisition   62,589,000        
Legacy Bank of Florida | Acquired Non-PCD Loans            
Business Acquisition [Line Items]            
Initial allowance for credit losses   $ 8,200,000        
v3.22.1
Business Combinations - Purchase Price (Details)
$ / shares in Units, $ in Thousands
Jan. 03, 2022
USD ($)
$ / shares
shares
Aug. 06, 2021
USD ($)
$ / shares
shares
Business Bank of Florida    
Business Acquisition [Line Items]    
Per share exchange ratio (in shares) 0.7997  
Sabal Palm Bancorp, Inc.    
Business Acquisition [Line Items]    
Number of common shares outstanding (in shares) | shares 7,536,000  
Per share exchange ratio (in shares) 0.2203  
Number of shares of common stock issued (in shares) | shares 1,660,000  
Multiplied by common stock price per share (in dollars per share) | $ / shares $ 35.39  
Value of common stock issued $ 58,762  
Fair value of options converted 3,336  
Total purchase price $ 62,098  
Legacy Bank of Florida    
Business Acquisition [Line Items]    
Number of common shares outstanding (in shares) | shares 1,112,000 15,778,000
Per share exchange ratio (in shares) 0.7997 0.1703
Number of shares of common stock issued (in shares) | shares 889,000 2,687,000
Multiplied by common stock price per share (in dollars per share) | $ / shares $ 35.39 $ 32.19
Value of common stock issued $ 31,480 $ 86,487
Cash paid for fractional shares   7
Fair value of options converted 497 4,736
Total purchase price $ 31,977 $ 91,230
v3.22.1
Business Combinations - Fair Value of the Assets Purchased, Including Goodwill and Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Jan. 03, 2022
Dec. 31, 2021
Aug. 06, 2021
Assets:        
Goodwill $ 286,606   $ 252,154  
Business Bank of Florida        
Assets:        
Cash   $ 38,332    
Investments   26,011    
Loans   121,774    
Bank premises and equipment   2,102    
Core deposit intangibles   2,621    
Goodwill   7,962    
Total assets   198,802    
Liabilities:        
Deposits   166,326    
Other liabilities   499    
Total liabilities   166,825    
Sabal Palm Bancorp, Inc.        
Assets:        
Cash   170,609    
Investments   6,473    
Loans   246,152    
Bank premises and equipment   1,745    
Core deposit intangibles   5,587    
Goodwill   26,489    
Other assets   5,189    
Total assets   462,244    
Liabilities:        
Deposits   395,952    
Other liabilities   4,194    
Total liabilities   $ 400,146    
Legacy Bank of Florida        
Assets:        
Cash       $ 98,107
Investments       992
Loans       477,215
Bank premises and equipment       2,577
Core deposit intangibles       3,454
Goodwill       30,978
Other assets       15,532
Total assets       628,855
Liabilities:        
Deposits       494,921
Other liabilities       42,705
Total liabilities       $ 537,626
v3.22.1
Business Combinations - Fair Value of Acquired Loans (Details) - USD ($)
$ in Thousands
Jan. 03, 2022
Aug. 06, 2021
Business Bank of Florida    
Business Acquisition [Line Items]    
Book Balance $ 123,916  
Fair Value 121,774  
Business Bank of Florida | Construction and land development    
Business Acquisition [Line Items]    
Book Balance 8,677  
Fair Value 8,414  
Business Bank of Florida | Commercial real estate - owner-occupied    
Business Acquisition [Line Items]    
Book Balance 45,403  
Fair Value 44,564  
Business Bank of Florida | Commercial real estate - non owner-occupied    
Business Acquisition [Line Items]    
Book Balance 53,065  
Fair Value 52,034  
Business Bank of Florida | Residential real estate    
Business Acquisition [Line Items]    
Book Balance 5,377  
Fair Value 5,421  
Business Bank of Florida | Commercial and financial    
Business Acquisition [Line Items]    
Book Balance 9,376  
Fair Value 9,321  
Business Bank of Florida | Consumer    
Business Acquisition [Line Items]    
Book Balance 59  
Fair Value 61  
Business Bank of Florida | PPP loans    
Business Acquisition [Line Items]    
Book Balance 1,959  
Fair Value 1,959  
Sabal Palm Bancorp, Inc.    
Business Acquisition [Line Items]    
Book Balance 248,910  
Fair Value 246,152  
Sabal Palm Bancorp, Inc. | Construction and land development    
Business Acquisition [Line Items]    
Book Balance 9,256  
Fair Value 9,009  
Sabal Palm Bancorp, Inc. | Commercial real estate - owner-occupied    
Business Acquisition [Line Items]    
Book Balance 57,690  
Fair Value 56,591  
Sabal Palm Bancorp, Inc. | Commercial real estate - non owner-occupied    
Business Acquisition [Line Items]    
Book Balance 89,153  
Fair Value 87,280  
Sabal Palm Bancorp, Inc. | Residential real estate    
Business Acquisition [Line Items]    
Book Balance 71,469  
Fair Value 72,227  
Sabal Palm Bancorp, Inc. | Commercial and financial    
Business Acquisition [Line Items]    
Book Balance 17,797  
Fair Value 17,501  
Sabal Palm Bancorp, Inc. | Consumer    
Business Acquisition [Line Items]    
Book Balance 233  
Fair Value 232  
Sabal Palm Bancorp, Inc. | PPP loans    
Business Acquisition [Line Items]    
Book Balance 3,312  
Fair Value $ 3,312  
Legacy Bank of Florida    
Business Acquisition [Line Items]    
Book Balance   $ 486,282
Fair Value   477,215
Legacy Bank of Florida | Construction and land development    
Business Acquisition [Line Items]    
Book Balance   37,558
Fair Value   36,651
Legacy Bank of Florida | Commercial real estate - owner-occupied    
Business Acquisition [Line Items]    
Book Balance   35,765
Fair Value   35,363
Legacy Bank of Florida | Commercial real estate - non owner-occupied    
Business Acquisition [Line Items]    
Book Balance   241,322
Fair Value   237,091
Legacy Bank of Florida | Residential real estate    
Business Acquisition [Line Items]    
Book Balance   71,118
Fair Value   70,541
Legacy Bank of Florida | Commercial and financial    
Business Acquisition [Line Items]    
Book Balance   61,274
Fair Value   58,324
Legacy Bank of Florida | Consumer    
Business Acquisition [Line Items]    
Book Balance   647
Fair Value   647
Legacy Bank of Florida | PPP loans    
Business Acquisition [Line Items]    
Book Balance   38,598
Fair Value   $ 38,598
v3.22.1
Business Combinations - Purchased Credit Impaired Loans (Details) - USD ($)
$ in Thousands
Jan. 03, 2022
Aug. 06, 2021
Business Bank of Florida    
Business Acquisition [Line Items]    
Total PCD loans acquired $ 121,774  
Sabal Palm Bancorp, Inc.    
Business Acquisition [Line Items]    
Total PCD loans acquired 246,152  
Legacy Bank of Florida    
Business Acquisition [Line Items]    
Total PCD loans acquired   $ 477,215
PCD Loans | Business Bank of Florida    
Business Acquisition [Line Items]    
Book balance of loans at acquisition 714  
Allowance for credit losses at acquisition (15)  
Non-credit related discount (48)  
Total PCD loans acquired 651  
PCD Loans | Sabal Palm Bancorp, Inc.    
Business Acquisition [Line Items]    
Book balance of loans at acquisition 3,703  
Allowance for credit losses at acquisition (37)  
Non-credit related discount (663)  
Total PCD loans acquired $ 3,003  
PCD Loans | Legacy Bank of Florida    
Business Acquisition [Line Items]    
Book balance of loans at acquisition   66,371
Allowance for credit losses at acquisition   (3,046)
Non-credit related discount   (736)
Total PCD loans acquired   $ 62,589
v3.22.1
Business Combinations - Pro-Forma Information (Details) - Legacy Bank of Florida, Business Bank of Florida and Sabal Palm - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Business Acquisition, Pro Forma Information [Abstract]    
Net interest income $ 76,504 $ 78,107
Net income $ 25,270 $ 38,097
EPS - basic (in dollars per share) $ 0.41 $ 0.62
EPS - diluted (in dollars per share) $ 0.41 $ 0.63
v3.22.1
Subsequent Event (Details) - Drummond Banking Company
$ in Millions
 3 Months Ended
Mar. 31, 2022
USD ($)
branch
Subsequent Event [Line Items]  
Number of branches operated | branch 18
Deposits $ 932
Loans acquired in acquisition $ 543