SEACOAST BANKING CORP OF FLORIDA (Form: 8-K, Received: 10/31/2017 16:39:23)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported) October 26, 2017

SEACOAST BANKING CORPORATION OF FLORIDA

(Exact Name of Registrant as Specified in Charter)

Florida		0-13660		59-2260678
(State or Other Jurisdiction of Incorporation)		(Commission File Number		(IRS Employer Identification No.)

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

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

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

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

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

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

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

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

SEACOAST BANKING CORPORATION OF FLORIDA

Item 2.02

Results of Operations and Financial Condition

On October 26, 2017, Seacoast Banking Corporation of Florida (“Seacoast” or the “Company”) announced its financial results for the quarter ended September 30, 2017.

A copy of the press release announcing Seacoast’s results for the quarter ended September 30, 2017 is attached hereto as Exhibit 99.1 and incorporated herein by reference.

Item 7.01

Regulation FD Disclosure

On October 27, 2017, Seacoast held an investor conference call to discuss its financial results for the quarter ended September 30, 2017. A transcript of this conference call is attached hereto as Exhibit 99.2 and incorporated herein by reference. Also attached as Exhibit 99.3 are charts (available on the Company’s website at www.seacoastbanking.net) containing information used in the conference call and incorporated herein by reference. All information included in the transcript and the charts is presented as of September 30, 2017, and the Company does not assume any obligation to correct or update said information in the future.

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

Item 9.01

Financial Statements and Exhibits

(d) Exhibits

Exhibit No.		Description

99.1		Press Release dated October 26, 2017 with respect to Seacoast’s financial results for the quarter ended September 30, 2017

99.2		Transcript of Seacoast’s investor conference call held on October 27, 2017 to discuss the Company’s financial results for the quarter ended September 30, 2017

99.3		Data on website containing information used in the conference call held on October 27, 2017

8-K – page 2 of 5

Exhibits 99.1, 99.2 and 99.3 referenced herein contain “forward-looking statements” within the meaning of Section 28A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements about future financial and operating results, ability to realized deferred tax assets, cost savings, enhanced revenues, economic and seasonal conditions in our markets, and improvements to reported earnings that may be realized from cost controls and for integration of banks that we have acquired, as well as statements with respect to Seacoast’s objectives, expectations and intentions and other statements that are not historical facts. Actual results may differ from those set forth in the forward-looking statements.

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

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

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 10-K for the year ended December 31, 2016 under “Special Cautionary Notice Regarding Forward-Looking Statements” and “Risk Factors”, and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov.

8-K – page 3 of 5

SIGNATURES

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

	SEACOAST BANKING CORPORATION OF FLORIDA
	(Registrant)

Date: October 31, 2017	By:	/s/ Charles M. Shaffer
		Charles M. Shaffer
		Executive Vice President and Chief Financial Officer

8-K – page 4 of 5

EXHIBIT INDEX

Exhibit No.		Description

99.1		Press Release dated October 26, 2017 with respect to Seacoast’s financial results for the quarter ended September 30, 2017

99.2		Transcript of Seacoast’s investor conference call held on October 27, 2017 to discuss the Company’s financial results for the quarter ended September 30, 2017

99.3		Data on website containing information used in the conference call held on October 27, 2017

8-K – page 5 of 5

Exhibit 99.1

Charles M. Shaffer

Executive Vice President

Chief Financial Officer

(772) 221-7003

Chuck.Shaffer@seacoastbank.com

SEACOAST REPORTS THIRD QUARTER 2017 RESULTS

Net Income Increased 85% Quarter-Over-Quarter to $14.2 Million; Net Revenue Increased 5% to $57.2 Million

Record Quarter for Commercial Originations; Loan Pipeline Near Record Level Entering Q4

STUART, Fla., October 26, 2017 /PRNewswire/ — Seacoast Banking Corporation of Florida (“Seacoast” or “the Company”) (NASDAQ: SBCF) today reported net income of $14.2 million for the third quarter of 2017, a 56% or $5.1 million increase from the third quarter of 2016. Year to date net income as of September 30, 2017 was $29.8 million, a 62% or $11.4 million increase compared to the prior year period. The Company reported third quarter adjusted net income ¹ of $15.1 million, representing a 37% or $4.1 million increase from the third quarter of 2016. Year to date adjusted net income ¹ was $38.1 million, a 40% or $10.8 million increase compared to prior year to date results.

For the third quarter 2017, return on average tangible assets was 1.12%, return on average tangible shareholders’ equity was 12.4%, and the efficiency ratio was 58.9%, compared to 0.88%, 10.9%, and 68.6%, respectively, in the third quarter of 2016. Adjusted return on average tangible assets ¹ was 1.16%, adjusted return on average tangible shareholders’ equity ¹ was 12.8%, and the adjusted efficiency ratio ¹ was 57.7%, compared to 1.01%, 12.6%, and 63.1%, respectively, in the third quarter of 2016.

Dennis S. Hudson, III, Seacoast’s Chairman and CEO, said “Our record third quarter results show the investments we have made over the past two years to modernize our banking platform and how we serve customers are resonating. We are successfully transforming Seacoast into an integrated financial services provider that is providing better experiences for our customers and creating value for our shareholders.”

“We continue to execute our balanced growth strategy, expanding loans and households organically; maintaining portfolio granularity, to manage risk; and completing disciplined, accretive acquisitions. On October 20, we completed the acquisition and integration of NorthStar Bank, bolstering our presence in the attractive Tampa market, and expect to close and integrate Palm Beach Community Bank next month, expanding our presence into South Florida. Both transactions are on track to perform as we expected at announcement.”

Charles M. Shaffer, Seacoast’s Chief Financial Officer and Head of Strategy, said “At our investor day in early 2017, we laid out a vision for 2020 that showed significant improvement in Seacoast’s return on assets, return on tangible common equity and efficiency. This quarter’s performance demonstrates that we are on track to achieve these goals. Seacoast continues to show strong momentum in top line revenue, while continuing to create operating leverage using the data analytics and the digital tool set we built over the past three years.”

Guidance

The Company is reiterating its previous guidance of $1.28 to $1.32 adjusted earnings per share ¹ for full year 2017.

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

Effective in the first quarter of 2017, adjusted net income and adjusted noninterest expense exclude the effect of amortization of acquisition-related intangibles. Prior periods have been revised to conform with the current period presentation.

Impact of Hurricane Irma on Third Quarter 2017 Results

In early September, the State of Florida was preparing for the potential impact of dangerous category 5 Hurricane Irma. This caused a full two weeks of business interruption as a week was spent on preparation and a week on recovery. Ultimately, the storm made landfall in the Florida Keys as a category 4 storm and a second landfall in Marco Island in southwest Florida.

The impact of Hurricane Irma on the quarter was approximately $0.01 per share. Revenue was impacted in the form of waived service charges, slower activity in wealth management, and delayed closings on loans. Direct expenses totaled $0.4 million, comprised of compensation for staff working throughout the storm to ensure our customers had digital and web access at all times, remote support from our backup site in Nashville, Tennessee, and recovery expenses to bring our branch network back on-line. These direct incremental expenses were removed from the presentation of adjusted results.

In the days following the storm, we conducted site visits and inquiries with commercial customers throughout our markets to help assess potential recovery needs. We had direct conversations with commercial customers covering 69% of the commercial portfolio, and expect any credit-related impacts to be nominal.

Our branches and operations facilities suffered no meaningful damage.

Third Quarter 2017 Financial Highlights

Income Statement

Net income was $14.2 million, or $0.32 per average common diluted share, compared to $7.7 million or $0.18 for the prior quarter and $9.1 million or $0.24 for the third quarter of 2016. For the nine months ended September 30, 2017, net income was $29.8 million compared to $18.4 million for the nine months ended September 30, 2016. Adjusted net income ¹ was $15.1 million, or $0.35 per average common diluted share, compared to $12.7 million or $0.29 for the prior quarter and $11.1 million or $0.29 for the third quarter of 2016. For the nine months ended September 30, 2017, adjusted net income ¹ was $38.1 million compared to $27.3 million for the nine months ended September 30, 2016.

Net revenues were $57.2 million, an increase of $2.5 million or 5% compared to the prior quarter, and an increase of $9.7 million or 21% from the third quarter of 2016. For the nine months ended September 30, 2017, net revenues were $159.9 million, an increase of $29.9 million or 23% compared to the nine months ended September 30, 2016. Adjusted revenues ¹ were $57.2 million, an increase of $2.6 million, or 5%, from the prior quarter and an increase of $10.0 million, or 21% from the third quarter of 2016. For the nine months ended September 30, 2017, adjusted revenues ¹ were $159.9 million, an increase of $30.7 million or 24% compared to the nine months ended September 30, 2016.

Net interest income totaled $45.7 million, an increase of $1.6 million or 4% from the prior quarter and an increase of $8.3 million or 22% from the third quarter of 2016. For the nine months ended September 30, 2017, net interest income totaled $128.1 million, an increase of $25.9 million or 25% compared to the nine months ended September 30, 2016.

Noninterest income totaled $11.4 million, an increase of $0.9 million or 9% compared to the prior quarter and an increase of $1.4 million or 14% from the third quarter of 2016. For the nine months ended September 30, 2017, noninterest income totaled $31.8 million, an increase of $4.0 million or 14% compared to the nine months ended September 30, 2016. Mortgage banking fees increased quarter over quarter, primarily due to a $57.7 million sale of conforming salable mortgages originated in prior quarters, which resulted in $0.8 million in mortgage banking fee income. In addition, late in the third quarter the Company made a $30 million investment in bank owned life insurance at a first-year tax equivalent return of 6.2%.

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

Net interest margin was 3.74% in the current quarter compared to 3.84% in the prior quarter and 3.69% in the third quarter of 2016. The decrease quarter over quarter was the result of lower accretion on both securities and loans when compared to the prior quarter, as well as higher interest expense on deposits and borrowings.

The provision for loan losses was $0.7 million compared to $1.4 million in the prior quarter and $0.6 million in the third quarter of 2016, reflecting the effect of sustained positive credit trends and lower net loan growth in the quarter.

Noninterest expense was $34.4 million compared to $41.6 million in the prior quarter and $33.4 million in the third quarter of 2016. For the nine months ended September 30, 2017, noninterest expense was $110.7 million compared to $100.6 million for the nine months ended September 30, 2016.

Merger related charges and costs related to several branch closures resulted in elevated expenses in the prior quarter totaling $7.0 million, compared to $0.4 million in the current quarter.

Adjusted noninterest expense ¹ was $32.8 million compared to $33.8 million in the prior quarter, and $30.1 million in the third quarter of 2016. For the nine months ended September 30, 2017, adjusted noninterest expense ¹ was $97.6 million compared to $85.4 million for the nine months ended September 30, 2016.

Seacoast recorded a $7.9 million income tax provision in the current quarter, compared to $3.9 million in the prior quarter and $4.3 million in the third quarter of 2016. Tax benefits in excess of stock-based compensation were $137 thousand in the current quarter, compared to $331 thousand in the prior quarter.

Third quarter 2017 adjusted revenues ¹ increased 5% compared to prior quarter, while adjusted noninterest expense ¹ decreased 3%, providing 8% operating leverage.

The efficiency ratio was 58.9% compared to 73.9% in the prior quarter and 68.6% in the third quarter of 2016. The adjusted efficiency ratio ¹ decreased to 57.7% compared to 61.2% in the prior quarter and 63.1% in the third quarter of 2016.

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

Balance Sheet

At September 30, 2017, the Company had total assets of $5.3 billion and total shareholders’ equity of $594.4 million. Book value per share was $13.67 and tangible book value per share was $10.95, compared to $13.29 and $10.55, respectively, at June 30, 2017.

Loan production was robust across all categories, despite the disruption of Hurricane Irma. Net loans totaled $3.4 billion at September 30, 2017, an increase of $54.7 million or 2% compared to June 30, 2017, and an increase of $612 million or 22% from September 30, 2016. Excluding acquisitions, loans increased $365 million or 13% from the third quarter of 2016.

Commercial originations reached a new record high of $146 million, up 34% compared to prior year quarter.

Consumer and small business originations were $86.9 million during the current quarter.

We continue to prudently manage CRE exposure. At 50% and 207% of total risk-based capital respectively, construction and land development and commercial real estate loan concentrations remain well below regulatory guidance.

Closed residential loans retained during the current quarter were $74 million.

Pipelines (loans in underwriting and approval or approved and not yet closed) were $155 million in commercial, $64 million in mortgage, and $47 million in consumer and small business.

Commercial pipelines increased $9.0 million, or 6%, over prior quarter and $36.0 million, or 30%, over year-ago levels.

Mortgage pipelines were lower by $7.7 million, or 11%, from prior quarter and by $15.4 million, or 19%, compared to year-ago levels.

Consumer and small business decreased from prior quarter by $2.7 million, or 5%, and were higher than year-ago levels by $5.6 million, or 13%.

Total deposits were $4.1 billion as of September 30, 2017, an increase of $137 million, or 3%, compared to prior quarter and an increase of $602 million, or 17%, from the third quarter of 2016.

Since September 30, 2016, interest bearing deposits (interest bearing demand, savings and money markets deposits) increased $209 million, or 11%, to $2.2 billion, noninterest bearing demand deposits increased $116 million, or 10%, to $1.2 billion, and CDs increased $277 million, or 76%, to $643 million.

Excluding acquired deposits, noninterest bearing deposits increased 4% and total deposits increased 1% compared to September 30, 2016.

The Company’s balance sheet continues to be primarily core deposit funded. Core customer funding was $3.6 billion at September 30, 2017, flat compared to June 30, 2017 and an increase of 9% compared to September 30, 2016.

Overall cost of deposits in the current quarter is 0.22%, reflecting the significant value of the deposit franchise.

Third quarter return on average assets (ROA) was 1.06%, compared to 0.61% in the prior quarter and 0.82% from the third quarter of 2016. Return on average tangible assets (ROTA) was 1.12%, compared to 0.66% in the prior quarter and 0.88% in the third quarter of 2016. Adjusted ROTA ¹ was 1.16% compared to 1.02% in the prior quarter and 1.01% in the third quarter of 2016.

Capital

The common equity tier 1 capital ratio (CET1) was 12.4%, total capital ratio was 14.8% and the tier 1 leverage ratio was 10.2% at September 30, 2017.

Tangible common equity to tangible assets was 9.1% at September 30, 2017, compared to 8.9% in the prior quarter, and 8.0% one year prior.

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

Asset Quality

Nonperforming loans to total loans outstanding at September 30, 2017 decreased to 0.42% from 0.52% at June 30, 2017 and from 0.67% as of September 30, 2016.

Nonperforming assets to total assets declined to 0.40% at September 30, 2017 from 0.49% at June 30, 2017 and 0.69% one year ago. Of the $21.5 million in nonperforming assets, $4 million relates to five closed branch properties held as REO.

The ratio of allowance for loan losses to total loans was 0.77% at September 30, 2017, 0.78% at June 30, 2017, and 0.82% at September 30, 2016. The ratio of allowance for loan losses to non-acquisition related loans was 0.91% at September 30, 2017, 0.95% at June 30, 2017, and 0.98% at September 30, 2016. The decline in coverage in the non-acquired loan ALLL was the result of improved credit quality and loan mix as well as another quarter of nominal losses in this portfolio. Additionally, commercial and commercial real estate concentration risk continues to decline as we continue to maintain a well-diversified and granular portfolio.

FINANCIAL HIGHLIGHTS
(Dollars in thousands, except per share data)	3Q17			2Q17			1Q17			4Q16			3Q16

Selected Balance Sheet Data (at period end):
Total Assets	$	5,340,299		$	5,281,295		$	4,769,775		$	4,680,932		$	4,513,934
Gross Loans		3,384,991			3,330,075			2,973,759			2,879,536			2,769,338
Total Deposits		4,112,600			3,975,458			3,678,645			3,523,245			3,510,493

Performance Measures:
Net Income	$	14,216		$	7,676		$	7,926		$	10,771		$	9,133
Net Interest Margin		3.74	%		3.84	%		3.63	%		3.56	%		3.69	%
Average Diluted Shares Outstanding (000)		43,792			43,556			39,499			38,252			38,170
Diluted Earnings Per Share (EPS)	$	0.32		$	0.18		$	0.20		$	0.28		$	0.24
Return on (annualized):
Average Assets (ROA)		1.06	%		0.61	%		0.68	%		0.94	%		0.82	%
Average Tangible Common Equity (ROTCE)		12.4			7.3			8.8			12.5			10.9
Efficiency Ratio		58.9			73.9			71.1			62.4			68.6

Adjusted Operating Measures ¹ :
Adjusted Net Income	$	15,145		$	12,665		$	10,270		$	11,803		$	11,061
Adjusted Diluted EPS		0.35			0.29			0.26			0.31			0.29
Adjusted ROTA		1.16	%		1.02	%		0.90	%		1.05	%		1.01	%
Adjusted ROTCE		12.8			11.2			10.7			13.1			12.6
Adjusted Efficiency Ratio		57.7			61.2			64.7			60.8			63.1
Adjusted Noninterest Expenses as a Percentage of Average Tangible Assets		2.50			2.73			2.71			2.56			2.76

Other Data
Market Capitalization	$	1,039,506		$	1,047,361		$	976,368		$	838,762		$	611,824
Full Time Equivalent Employees		762			759			743			725			731
Number of ATMs		74			76			76			77			80

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

Third Quarter and Year-to-Date 2017 Strategic Highlights

Modernizing How We Sell

In late September, we received OCC approval to acquire both NorthStar Bank and Palm Beach Community Bank. The acquisition of NorthStar Bank, headquartered in Tampa, Florida, will deepen our presence in the Tampa market and build upon our acquisition of GulfShore Bank completed in April 2017. The acquisition of Palm Beach Community Bank will expand our presence in the South Florida market and build upon our acquisition of Grand Bankshares Inc., completed in July 2015. NorthStar Bank closed on October 20 ^th , 2017, and Palm Beach Community Bank is expected to close in the fourth quarter of this year. Both acquisitions are on track to perform as expected at announcement.

The proportion of deposit accounts opened outside of our banking centers this quarter continues to increase, with 13.3% of all deposit accounts this quarter opened through our website or 24/7 customer support center.

We have made significant progress in modernizing our retail and small business sales strategy, focusing on enhancing customer lifetime value. We also began development on a commercial analytics portal that will connect our commercial bankers with the analytics and insights that we have provided our retail and small business teams. This portal will provide daily insight into customer behaviors, emerging customer needs, and suggested opportunities to enhance relationship value.

We also kicked off a project to improve our loan origination process this quarter. This effort will extend well into 2018. Using technology, partners, and lean process improvement we’ll improve cycle times and strengthen the customer experience.

Lowering Our Cost to Serve

Mobile penetration increased during the quarter to more than 32% of eligible primary consumer checking customers from 29.5% in September of last year.

A new record 40% of checks are now deposited outside the banking center network, compared to 35% in September of last year.

In the first half of 2017, we consolidated five banking center locations. Looking forward into 2018, we expect to continue making progress towards our previously announced goal of reducing our branch footprint by 20% over a 24 to 36-month period.

Customer adoption of more convenient digital channels continues to grow. In September 2017, our non-teller transactions made up 52% of our total transaction volume, up from 43% two years ago. We expect this shift in customer preference to continue to accelerate, requiring continued focus on building a digitally integrated business model.

Driving Improvements in How Our Business Operates

Hurricane Irma tested our disaster recovery plans. Before the storm, we dispatched a team of operations and IT associates to our recovery site to Nashville, Tennessee. This enabled us to continue to operate the bank during and immediately following the storm to ensure our customers had digital and web access at all times. Our back-up customer support center provided uninterrupted, 24/7 customer service.

We recognized our first full quarter of savings due to the successful renegotiation of our agreement with a key technology and digital services provider. The agreement expands digital banking capabilities, improves service level agreements, and increases our ability to scale.

In August we announced the consolidation of our customer support center in Stuart. In the fourth quarter we’ll be migrating all customer support operations to our Orlando location which we launched early this year. The new, expanded site supports our 24/7 customer service model and our growth strategy.

Scaling and Evolving Our Culture

This quarter we on-boarded key talent in the areas of digital marketing and compliance. These important additions to the Seacoast team help position us for future growth.

We completed our annual United Way campaign in alignment with our Promise #4: to invest in you and your community, breaking records three years in a row for participation and funds raised to support our communities. We also participated in the American Cancer Society “Making Strides Against Breast Cancer” walk across all of our markets.

OTHER INFORMATION

Conference Call Information

Seacoast will host a conference call on Friday, October 27, 2017 at 10:00 a.m. (Eastern Time) to discuss the earnings results. Investors may call in (toll-free) by dialing (888) 517-2513 (passcode: 8290 746). Slides will be used during the conference call and may be accessed at Seacoast’s website at SeacoastBanking.com by selecting “Presentations” under the heading “Investor Services.” A replay of the call will be available for one month, beginning late afternoon of October 27, by dialing (888) 843-7419 and using passcode: 8290 746.

Alternatively, individuals may listen to the live webcast of the presentation by visiting Seacoast’s website at SeacoastBanking.com. The link is located in the subsection “Presentations” under the heading “Investor Services.” Beginning the afternoon of October 27, an archived version of the webcast can be accessed from this same subsection of the website. The archived webcast will be available for one year.

About Seacoast Banking Corporation of Florida (NASDAQ: SBCF)

Seacoast Banking Corporation of Florida is one of the largest community banks headquartered in Florida with approximately $5.3 billion in assets and $4.1 billion in deposits as of September 30, 2017. The Company provides integrated financial services including commercial and retail banking, wealth management, and mortgage services to customers through advanced banking solutions, 45 traditional branches of its locally-branded wholly-owned subsidiary bank, Seacoast Bank, and five commercial banking centers. Offices stretch from Ft. Lauderdale, Boca Raton and West Palm Beach north through the Daytona Beach area, into Orlando and Central Florida and the adjacent Tampa market, and west to Okeechobee and surrounding counties. More information about the Company is available at SeacoastBanking.com.

Cautionary Notice Regarding Forward-Looking Statements

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

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 10-K for the year ended December 31, 2016, under “Special Cautionary Notice Regarding Forward-looking Statements” and “Risk Factors”, and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov.

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

(Dollars in thousands, except per share data)	Three Months Ended															Nine Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,			September 30,
	2017			2017			2017			2016			2016			2017			2016
Summary of Earnings
Net income	$	14,216		$	7,676		$	7,926		$	10,771		$	9,133		$	29,818		$	18,431
Net interest income (1)		45,903			44,320			38,377			37,628			37,735			128,600			102,885
Net interest margin (1), (2)		3.74	%		3.84	%		3.63	%		3.56	%		3.69	%		3.74	%		3.67	%

Performance Ratios
Return on average assets-GAAP basis (2)		1.06	%		0.61	%		0.68	%		0.94	%		0.82	%		0.79	%		0.60	%
Return on average tangible assets (2),(3)		1.12			0.66			0.74			1.00			0.88			0.85			0.65
Adjusted return on average tangible assets (2), (3), (5)		1.16			1.02			0.90			1.05			1.01			1.03			0.91

Return on average shareholders’ equity-GAAP basis (2)		9.59			5.43			6.89			9.80			8.44			7.37			6.06
Return on average tangible shareholders’ equity-GAAP basis (2),(3)		12.45			7.25			8.77			12.51			10.91			9.57			7.61
Adjusted return on average tangible common equity (2), (3), (5)		12.80			11.22			10.74			13.14			12.56			11.65			10.59
Efficiency ratio (4)		58.93			73.90			71.08			62.36			68.60			67.70			75.69
Adjusted efficiency ratio (5)		57.69			61.20			64.65			60.84			63.14			60.98			65.62
Noninterest income to total revenue		20.06			19.16			20.61			20.96			20.68			19.92			21.21
Average equity to average assets		11.06			11.17			9.93			9.56			9.74			10.75			9.96

Per Share Data
Net income diluted-GAAP basis	$	0.32		$	0.18		$	0.20		$	0.28		$	0.24		$	0.70		$	0.49
Net income basic-GAAP basis		0.33			0.18			0.20			0.29			0.24			0.72			0.50
Adjusted earnings (5)		0.35			0.29			0.26			0.31			0.29			0.90			0.73

Book value per share common		13.66			13.29			12.34			11.45			11.45			13.66			11.45
Tangible book value per share		10.95			10.55			10.41			9.37			9.35			10.95			9.35
Cash dividends declared		0.00			0.00			0.00			0.00			0.00			0.00			0.00

Other Data
Market capitalization (6)		1,039,506			1,047,361			976,368			838,762			611,824			1,039,506			611,824
Full-time equivalent employees		762			759			743			725			731			762			731
Number of ATMs		74			76			76			77			80			74			80
Full service banking offices		45			45			46			47			47			45			47
Registered online users		78,880			75,394			71,385			67,243			66,115			78,880			66,115
Registered mobile devices		58,032			55,013			50,729			47,131			44,128			58,032			44,128

(1)

Calculated on a fully taxable equivalent basis using amortized cost.

(2)

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

(3)

The Company defines tangible assets as total assets less intangible assets, and tangible common equity as total shareholders’ equity less intangible assets.

(4)

Defined as (noninterest expense less gains, losses, and expenses on foreclosed properties) divided by net operating revenue (net interest income on a fully taxable equivalent basis plus noninterest income excluding securities gains).

(5)

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

(6)

Common shares outstanding multiplied by closing bid price on last day of each period.

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

	QUARTER														YTD
	2017								2016						September 30,			September 30,
(Dollars in thousands, except share and per share data)	Third			Second		First			Fourth			Third			2017			2016

Interest on securities:
Taxable	$	8,823		$	8,379	$	8,087		$	6,880		$	6,966		$	25,289		$	19,253
Nontaxable		189			206		287			287			287			682			749
Interest and fees on loans		40,403			38,209		31,891			32,007			31,932			110,503			87,210
Interest on federal funds sold and other investments		664			604		510			517			429			1,778			1,152
Total Interest Income		50,079			47,398		40,775			39,691			39,614			138,252			108,364

Interest on deposits		930			854		624			622			679			2,408			1,971
Interest on time certificates		1,266			814		566			598			613			2,646			1,476
Interest on borrowed money		2,134			1,574		1,420			1,046			874			5,128			2,754
Total Interest Expense		4,330			3,242		2,610			2,266			2,166			10,182			6,201

Net Interest Income		45,749			44,156		38,165			37,425			37,448			128,070			102,163
Provision for loan losses		680			1,401		1,304			1,000			550			3,385			1,411
Net Interest Income After Provision for Loan Losses		45,069			42,755		36,861			36,425			36,898			124,685			100,752

Noninterest income:
Service charges on deposit accounts		2,626			2,435		2,422			2,612			2,698			7,483			7,057
Trust fees		967			917		880			969			820			2,764			2,464
Mortgage banking fees		2,138			1,272		1,552			1,616			1,885			4,962			4,248
Brokerage commissions and fees		351			351		377			480			463			1,079			1,564
Marine finance fees		137			326		134			115			138			597			558
Interchange income		2,582			2,671		2,494			2,334			2,306			7,747			6,893
Other deposit based EFT fees		100			114		140			125			109			354			352
BOLI income		836			757		733			611			382			2,326			1,602
Other		1,744			1,624		1,173			1,060			963			4,541			2,767
		11,481			10,467		9,905			9,922			9,764			31,853			27,505
Securities gains/(losses), net		(47	)		21		0			7			225			(26	)		361
Total Noninterest Income		11,434			10,488		9,905			9,929			9,989			31,827			27,866

Noninterest expenses:
Salaries and wages		15,627			18,375		15,369			12,476			14,337			49,371			41,620
Employee benefits		2,917			2,935		3,068			2,475			2,425			8,920			7,428
Outsourced data processing costs		3,231			3,456		3,269			3,076			3,198			9,956			10,440
Telephone / data lines		573			648		532			502			539			1,753			1,606
Occupancy		2,447			4,421		3,157			2,830			3,675			10,025			10,292
Furniture and equipment		1,191			1,679		1,391			1,211			1,228			4,261			3,509
Marketing		1,298			1,074		922			847			780			3,294			2,786
Legal and professional fees		2,560			3,276		2,132			2,370			2,213			7,968			7,226
FDIC assessments		548			650		570			661			517			1,768			1,704
Amortization of intangibles		839			839		719			719			728			2,397			1,767
Asset dispositions expense		117			136		53			84			219			306			469
Net loss/(gain) on other real estate owned and repossessed assets		(414	)		161		(346	)		(161	)		(96	)		(599	)		(348	)
Early redemption cost for Federal Home Loan Bank advances		0			0		0			0			0			0			1,777
Other		3,427			3,975		3,910			3,207			3,672			11,312			10,308
Total Noninterest Expenses		34,361			41,625		34,746			30,297			33,435			110,732			100,584

Income Before Income Taxes		22,142			11,618		12,020			16,057			13,452			45,780			28,034
Income taxes		7,926			3,942		4,094			5,286			4,319			15,962			9,603

Net Income	$	14,216		$	7,676	$	7,926		$	10,771		$	9,133		$	29,818		$	18,431

Per share of common stock:

Net income diluted	$	0.32		$	0.18	$	0.20		$	0.28		$	0.24		$	0.70		$	0.49
Net income basic		0.33			0.18		0.20			0.29			0.24			0.72			0.50
Cash dividends declared		0.00			0.00		0.00			0.00			0.00			0.00			0.00

Average diluted shares outstanding		43,792,108			43,556,285		39,498,835			38,252,351			38,169,863			42,298,136			37,258,133
Average basic shares outstanding		43,151,248			42,841,152		38,839,284			37,603,789			37,549,804			41,626,356			36,626,290

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

	September 30,			June 30,			March 31,			December 31,			September 30,
(Dollars in thousands, except share data)	2017			2017			2017			2016			2016

Assets
Cash and due from banks	$	114,621		$	88,133			133,923		$	82,520		$	89,777
Interest bearing deposits with other banks		10,657			20,064			10,914			27,124			77,606
Total Cash and Cash Equivalents		125,278			108,197			144,837			109,644			167,383

Time deposits with other banks		14,591			16,426			0			0			0

Securities:
Available for sale (at fair value)		996,799			1,016,744			909,275			950,503			866,613
Held to maturity (at amortized cost)		374,773			397,096			379,657			372,498			392,138
Total Securities		1,371,572			1,413,840			1,288,932			1,323,001			1,258,751

Loans held for sale		29,447			22,262			16,326			15,332			20,143

Loans		3,384,991			3,330,075			2,973,759			2,879,536			2,769,338
Less: Allowance for loan losses		(26,232	)		(26,000	)		(24,562	)		(23,400	)		(22,684	)
Net Loans		3,358,759			3,304,075			2,949,197			2,856,136			2,746,654

Bank premises and equipment, net		57,092			56,765			58,611			58,684			59,035
Other real estate owned		7,142			8,497			7,885			9,949			12,734
Goodwill		101,747			101,739			64,649			64,649			64,649
Other intangible assets, net		16,102			16,941			13,853			14,572			15,291
Bank owned life insurance		118,762			88,003			85,237			84,580			44,044
Net deferred tax assets		43,951			52,195			55,834			60,818			58,848
Other assets		95,856			92,355			84,414			83,567			66,402
Total Assets	$	5,340,299		$	5,281,295		$	4,769,775		$	4,680,932		$	4,513,934

Liabilities and Shareholders’ Equity
Liabilities
Deposits
Noninterest demand	$	1,284,118		$	1,308,458		$	1,225,124		$	1,148,309		$	1,168,542
Interest-bearing demand		935,097			934,861			870,457			873,727			776,480
Savings		379,499			376,825			363,140			346,662			340,899
Money market		870,788			861,119			821,606			802,697			858,931
Other time certificates		155,027			155,265			153,840			159,887			166,987
Brokered time certificates		281,551			149,270			66,741			7,342			8,218
Time certificates of $100,000 or more		206,520			189,660			177,737			184,621			190,436
Total Deposits		4,112,600			3,975,458			3,678,645			3,523,245			3,510,493

Securities sold under agreements to repurchase		142,153			167,558			183,107			204,202			167,693
Federal Home Loan Bank borrowings		389,000			395,000			302,000			415,000			305,000
Subordinated debt		70,451			70,381			70,311			70,241			70,171
Other liabilities		31,654			95,521			33,218			32,847			25,058
Total Liabilities		4,745,858			4,703,918			4,267,281			4,245,535			4,078,415

Shareholders’ Equity
Common stock		4,351			4,339			4,075			3,802			3,799
Additional paid in capital		576,825			574,842			510,806			454,001			453,007
Accumulated earnings/(deficit)		16,161			1,945			(5,731	)		(13,657	)		(24,427	)
Treasury stock		(1,730	)		(1,768	)		(1,172	)		(1,236	)		(691	)
		595,607			579,358			507,978			442,910			431,688
Accumulated other comprehensive income/(loss), net		(1,166	)		(1,981	)		(5,484	)		(7,513	)		3,831
Total Shareholders’ Equity		594,441			577,377			502,494			435,397			435,519
Total Liabilities & Shareholders’ Equity	$	5,340,299		$	5,281,295		$	4,769,775		$	4,680,932		$	4,513,934

Common Shares Outstanding		43,512,179			43,458,973			40,715,938			38,021,835			38,025,020

Note: The balance sheet at December 31, 2016 has been derived from the audited financial statements at that date.

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

	QUARTERS
	2017									2016
(Dollars in thousands)	Third			Second			First			Fourth			Third

Credit Analysis
Net charge-offs (recoveries) - non-acquired loans	$	612		$	304		$	211		$	87		$	(1,411	)
Net charge-offs (recoveries) - acquired loans		(333	)		(405	)		(118	)		141			(81	)
Total net charge-offs (recoveries)	$	279		$	(101	)	$	93		$	228		$	(1,492	)

TDR valuation adjustments	$	169		$	64		$	49		$	55		$	83

Net charge-offs (recoveries) to average loans - non-acquired loans		0.07	%		0.04	%		0.03	%		0.01	%		(0.21	)%
Net charge-offs (recoveries) to average loans - acquired loans		(0.04	)		(0.05	)		(0.02	)		0.02			(0.01	)
Total net charge-offs (recoveries) to average loans		0.03			(0.01	)		0.01			0.03			(0.22	)

Loan loss provision (recapture) - non-acquired loans	$	795		$	1,690		$	1,504		$	1,161		$	649
Loan loss provision (recapture) - acquired loans		(115	)		(289	)		(200	)		(161	)		(99	)
Total loan loss provision	$	680		$	1,401		$	1,304		$	1,000		$	550

Allowance for loan losses - non-acquired loans	$	25,822		$	25,809		$	24,487		$	23,243		$	22,225
Allowance for loan losses - acquired loans		410			191			75			157			459
Total allowance for loan losses	$	26,232		$	26,000		$	24,562		$	23,400		$	22,684

Non-acquired loans at end of period	$	2,837,490		$	2,722,866		$	2,572,549		$	2,425,850		$	2,272,275
Purchased noncredit impaired loans at end of period		537,057			594,077			388,228			440,690			484,006
Purchased credit impaired loans at end of period		10,443			13,132			12,982			12,996			13,057
Total loans	$	3,384,990		$	3,330,075		$	2,973,759		$	2,879,536		$	2,769,338

Non-acquired loans allowance for loan losses to non-acquired loans at end of period		0.91	%		0.95	%		0.95	%		0.96	%		0.98	%
Total allowance for loan losses to total loans at end of period		0.77			0.78			0.83			0.81			0.82
Acquired loans allowance for loan losses to acquired loans at end of period		0.07			0.03			0.02			0.03			0.09
Discount for credit losses to acquired loans at end of period		2.77			3.37			4.25			4.18			4.24

End of Period
Nonperforming loans - non-acquired loans	$	10,877		$	10,541		$	10,557		$	11,023		$	10,561
Nonperforming loans - acquired loans		3,498			6,632			6,428			7,048			7,876
Other real estate owned - non-acquired		1,748			1,748			2,790			3,041			3,681
Other real estate owned - acquired		1,632			1,645			1,203			1,203			1,468
Bank branches closed included in other real estate owned		3,762			5,104			3,892			5,705			7,585
Total nonperforming assets	$	21,517		$	25,670		$	24,870		$	28,020		$	31,171

Restructured loans (accruing)	$	16,181		$	16,941		$	18,125		$	17,711		$	19,272

Nonperforming loans to loans at end of period - non-acquired loans		0.38	%		0.39	%		0.41	%		0.45	%		0.46	%
Nonperforming loans to loans at end of period - acquired loans		0.64			1.09			1.60			1.55			1.58
Allowance for loan losses to nonperforming loans - non-acquired loans		237.40			244.84			231.95			210.86			210.44
Total nonperforming loans to loans at end of period		0.42			0.52			0.57			0.63			0.67

Nonperforming assets to total assets - non-acquired		0.31	%		0.33	%		0.36	%		0.42	%		0.48	%
Nonperforming assets to total assets - acquired		0.10			0.16			0.16			0.18			0.21
Total nonperforming assets to total assets		0.40			0.49			0.52			0.60			0.69

Average Balances
Total average assets	$	5,316,119		$	5,082,002		$	4,699,745		$	4,572,188		$	4,420,438
Less: Intangible assets		118,364			114,563			78,878			79,620			80,068
Total average tangible assets	$	5,197,755		$	4,967,439		$	4,620,867		$	4,492,568		$	4,340,370

Total average equity	$	587,919		$	567,448		$	466,847		$	437,077		$	430,410
Less: Intangible assets		118,364			114,563			78,878			79,620			80,068
Total average tangible equity	$	469,555		$	452,885		$	387,969		$	357,457		$	350,342

	September 30,			June 30,			March 31,			December 31,			September 30,
LOANS	2017			2017			2017			2016			2016

Construction and land development	$	245,151		$	230,574		$	174,992		$	160,116		$	153,901
Commercial real estate		1,478,091			1,464,068			1,354,140			1,357,592			1,293,512
Residential real estate		941,169			991,144			893,674			836,787			833,413
Installment loans to individuals		184,485			178,595			165,039			153,945			145,523
Commercial and financial		535,457			465,138			385,189			370,589			342,502
Other loans		637			556			725			507			489
Total Loans	$	3,384,990		$	3,330,075		$	2,973,759		$	2,879,536		$	2,769,338

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

	September 30,		June 30,		March 31,		December 31,		September 30,
(Dollars in thousands)	2017		2017		2017		2016		2016

Customer Relationship Funding
Noninterest demand
Commercial	$	997,749	$	995,720	$	916,940	$	860,449	$	892,876
Retail		217,809		238,506		234,109		220,134		209,351
Public funds		43,686		47,691		52,126		48,690		42,147
Other		24,874		26,541		21,949		19,036		24,168
		1,284,118		1,308,458		1,225,124		1,148,309		1,168,542

Interest-bearing demand
Commercial		156,176		155,178		117,629		102,320		100,824
Retail		670,705		659,906		613,121		591,808		567,286
Public funds		108,216		119,777		139,707		179,599		108,370
		935,097		934,861		870,457		873,727		776,480

Total transaction accounts
Commercial		1,153,925		1,150,898		1,034,569		962,769		993,700
Retail		888,514		898,412		847,230		811,942		776,637
Public funds		151,902		167,468		191,833		228,289		150,517
Other		24,874		26,541		21,949		19,036		24,168
		2,219,215		2,243,319		2,095,581		2,022,036		1,945,022

Savings		379,499		376,825		363,140		346,662		340,899

Money market
Commercial		360,567		351,871		313,094		286,879		313,200
Retail		431,325		427,575		414,886		411,696		411,550
Public funds		78,896		81,673		93,626		104,122		134,181
		870,788		861,119		821,606		802,697		858,931

Time certificates of deposit		643,098		494,195		398,318		351,850		365,641
Total Deposits	$	4,112,600	$	3,975,458	$	3,678,645	$	3,523,245	$	3,510,493

Customer sweep accounts	$	142,153	$	167,558	$	183,107	$	204,202	$	167,693

Total core customer funding (1)	$	3,611,655	$	3,648,821	$	3,463,434	$	3,375,597	$	3,312,545

(1) Total deposits and customer sweep accounts, excluding certificates of deposits.

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

	2017																2016
	Third Quarter								Second Quarter								Third Quarter
	Average					Yield/			Average					Yield/			Average					Yield/
(Dollars in thousands)	Balance			Interest		Rate			Balance			Interest		Rate			Balance			Interest		Rate
Assets
Earning assets:
Securities:
Taxable	$	1,356,276		$	8,823		2.60	%	$	1,261,017		$	8,379		2.66	%	$	1,264,345		$	6,966		2.20	%
Nontaxable		26,256			290		4.42			28,092			316		4.50			28,344			441		6.22
Total Securities		1,382,532			9,113		2.64			1,289,109			8,695		2.70			1,292,689			7,407		2.29

Federal funds sold and other investments		76,773			664		3.43			72,535			604		3.34			55,465			429		3.08

Loans, net		3,407,376			40,456		4.71			3,266,812			38,263		4.70			2,720,121			32,065		4.69

Total Earning Assets		4,866,681			50,233		4.10			4,628,456			47,562		4.12			4,068,275			39,901		3.90

Allowance for loan losses		(26,299	)							(25,276	)							(21,934	)
Cash and due from banks		99,864								99,974								84,592
Premises and equipment		57,023								59,415								62,552
Intangible assets		118,364								114,563								80,068
Bank owned life insurance		95,759								87,514								43,860
Other assets		104,727								117,355								103,025

Total Assets	$	5,316,119							$	5,082,002							$	4,420,438

Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Interest-bearing demand	$	927,278		$	273		0.12	%	$	949,981		$	262		0.11	%	$	781,620		$	151		0.08	%
Savings		377,729			52		0.05			378,989			51		0.05			331,685			41		0.05
Money market		870,166			605		0.28			868,427			541		0.25			864,228			487		0.22
Time deposits		548,092			1,266		0.92			432,805			814		0.75			374,852			613		0.65
Federal funds purchased and securities sold under agreements to repurchase		165,160			204		0.49			174,715			194		0.45			184,170			118		0.25
Federal Home Loan Bank borrowings		439,755			1,293		1.17			323,780			780		0.97			223,467			240		0.43
Other borrowings		70,409			637		3.59			70,343			600		3.42			70,137			516		2.93

Total Interest-Bearing Liabilities		3,398,589			4,330		0.51			3,199,040			3,242		0.41			2,830,159			2,166		0.30

Noninterest demand		1,276,779								1,283,255								1,131,073
Other liabilities		52,832								32,259								28,796
Total Liabilities		4,728,200								4,514,554								3,990,028

Shareholders’ equity		587,919								567,448								430,410

Total Liabilities & Equity	$	5,316,119							$	5,082,002							$	4,420,438

Interest expense as a % of earning assets							0.35	%							0.28	%							0.21	%
Net interest income as a % of earning assets				$	45,903		3.74	%				$	44,320		3.84	%				$	37,735		3.69	%

(1)

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

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

	2017								2016
	Year to Date								Year to Date
	Average					Yield/			Average					Yield/
(Dollars in thousands)	Balance			Interest		Rate			Balance			Interest		Rate
Assets
Earning assets:
Securities:
Taxable	$	1,299,128		$	25,289		2.60	%	$	1,148,979		$	19,252		2.23	%
Nontaxable		27,388			1,047		5.10			24,919			1,150		6.16
Total Securities		1,326,516			26,336		2.65			1,173,898			20,403		2.32

Federal funds sold and other investments		68,766			1,778		3.46			72,708			1,152		2.12

Loans, net		3,199,408			110,668		4.62			2,500,613			87,531		4.68

Total Earning Assets		4,594,690			138,782		4.04			3,747,219			109,086		3.89

Allowance for loan losses		(25,211	)							(20,564	)
Cash and due from banks		101,858								86,227
Premises and equipment		58,401								60,927
Intangible assets		104,079								62,240
Bank owned life insurance		89,401								43,684
Other assets		111,661								97,730

Total Assets	$	5,034,879							$	4,077,463

Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Interest-bearing demand	$	904,175		$	698		0.10	%	$	749,089		$	467		0.08	%
Savings		370,145			147		0.05			319,199			117		0.05
Money market		847,705			1,563		0.25			781,105			1,387		0.24
Time deposits		443,416			2,646		0.80			348,601			1,476		0.57
Federal funds purchased and securities sold under agreements to repurchase		173,601			551		0.42			188,551			374		0.26
Federal Home Loan Bank borrowings		396,610			2,775		0.94			150,862			864		0.77
Other borrowings		70,342			1,802		3.43			70,062			1,516		2.89

Total Interest-Bearing Liabilities		3,205,994			10,182		0.42			2,607,469			6,201		0.32

Noninterest demand		1,248,290								1,032,475
Other liabilities		39,414								31,439
Total Liabilities		4,493,698								3,671,383

Shareholders’ equity		541,181								406,080

Total Liabilities & Equity	$	5,034,879							$	4,077,463

Interest expense as a % of earning assets							0.30	%							0.22	%
Net interest income as a % of earning assets				$	128,600		3.74	%				$	102,885		3.67	%

(1)

Explanation of Certain Unaudited Non-GAAP Financial Measures

This presentation contains financial information determined by methods other than Generally Accepted Accounting Principles (“GAAP”). Management uses these non-GAAP financial measures in its analysis of the Company’s performance and believes these presentations provide useful supplemental information, and a clearer understanding of the Company’s performance. The Company believes the non-GAAP measures enhance investors’ understanding of the Company’s business and performance and if not provided would be requested by the investor community. These measures are also useful in understanding performance trends and facilitate comparisons with the performance of other financial institutions. The limitations associated with operating measures are the risk that persons might disagree as to the appropriateness of items comprising these measures and that different companies might calculate these measures differently. The Company provides reconciliations between GAAP and these non-GAAP measures. These disclosures should not be considered an alternative to GAAP.

	QUARTER															YTD
	Third			Second			First			Fourth			Third			September 30,			September 30,
(Dollars in thousands except per share data)	2017			2017			2017			2016			2016			2017			2016

Net income	$	14,216		$	7,676		$	7,926		$	10,771		$	9,133		$	29,818		$	18,431

BOLI income (benefits upon death)		0			0			0			0			0			0			(464	)
Security gains		47			(21	)		0			(7	)		(225	)		26			(361	)
Total Adjustments to Revenue		47			(21	)		0			(7	)		(225	)		26			(825	)

Merger related charges		491			5,081			533			561			1,699			6,105			8,467
Amortization of intangibles		839			839			719			719			728			2,397			1,767
Business continuity expenses - Hurricane Irma		352			-			-			-			-			352			-
Branch reductions and other expense initiatives		(127	)		1,876			2,572			163			894			4,321			3,194
Early redemption cost for FHLB advances		0			0			0			0			0			0			1,777
Total Adjustments to Noninterest Expense		1,555			7,796			3,824			1,443			3,321			13,175			15,205

Effective tax rate on adjustments		(673	)		(2,786	)		(1,480	)		(404	)		(1,168	)		(4,939	)		(5,545	)
Adjusted Net Income	$	15,145		$	12,665		$	10,270		$	11,803		$	11,061		$	38,080		$	27,266
Earnings per diluted share, as reported		0.32			0.18			0.20			0.28			0.24			0.70			0.49
Adjusted Earnings per Diluted Share		0.35			0.29			0.26			0.31			0.29			0.90			0.73
Average shares outstanding (000)		43,792			43,556			39,499			38,252			38,170			42,298			37,258

Revenue	$	57,183		$	54,644		$	48,070		$	47,354		$	47,437		$	159,897		$	130,029
Total Adjustments to Revenue		47			(21	)		0			(7	)		(225	)		26			(825	)
Adjusted Revenue		57,230			54,623			48,070			47,347			47,212			159,923			129,204

Noninterest Expense		34,361			41,625			34,746			30,297			33,435			110,732			100,584
Total Adjustments to Noninterest Expense		1,555			7,796			3,824			1,443			3,321			13,175			15,205
Adjusted Noninterest Expense		32,806			33,829			30,922			28,854			30,114			97,557			85,379

Adjusted Noninterest Expense		32,806			33,829			30,922			28,854			30,114			97,557			85,379
Foreclosed property expense and net (gain)/loss on sale		(298	)		297			(293	)		(78	)		124			(294	)		121
Net Adjusted Noninterest Expense		33,104			33,532			31,215			28,932			29,990			97,851			85,258

Adjusted Revenue		57,230			54,623			48,070			47,347			47,212			159,923			129,204
Impact of FTE adjustment		154			164			211			204			287			529			722
Adjusted Revenue on a fully taxable equivalent basis		57,384			54,787			48,281			47,551			47,499			160,452			129,926
Adjusted Efficiency Ratio		57.7	%		61.2	%		64.7	%		60.8	%		63.1	%		61.0			65.6	%

Average Assets	$	5,316,119		$	5,082,002		$	4,699,745		$	4,572,188		$	4,420,438		$	5,034,879		$	4,077,463
Less average goodwill and intangible assets		(118,364	)		(114,563	)		(78,878	)		(79,620	)		(80,068	)		(104,079	)		(62,240	)
Average Tangible Assets		5,197,755			4,967,439			4,620,867			4,492,568			4,340,370			4,930,800			4,015,223

Return on Average Assets (ROA)		1.06	%		0.61	%		0.68	%		0.94	%		0.82	%		0.79	%		0.60	%
Impact of removing average intangible assets and related amortization		0.06			0.05			0.06			0.06			0.06			0.06			0.05
Return on Tangible Average Assets (ROTA)		1.12			0.66			0.74			1.00			0.88			0.85			0.65
Impact of other adjustments for Adjusted Net Income		0.04			0.36			0.16			0.05			0.13			0.18			0.26
Adjusted Return on Average Tangible Assets		1.16			1.02			0.90			1.05			1.01			1.03			0.91

Average Shareholders’ Equity	$	587,919		$	567,448		$	466,847		$	437,077		$	430,410		$	541,181		$	406,084
Less average goodwill and intangible assets		(118,364	)		(114,563	)		(78,878	)		(79,620	)		(80,068	)		(104,079	)		(62,240	)
Average Tangible Equity		469,555			452,885			387,969			357,457			350,342			437,102			343,844

Return on Average Shareholders’ Equity		9.6	%		5.4	%		6.9	%		9.8	%		8.4	%		7.4	%		6.1	%
Impact of removing average intangible assets and related amortization		2.8			1.9			1.9			2.7			2.5			2.2			1.5
Return on Average Tangible Common Equity (ROTCE)		12.4			7.3			8.8			12.5			10.9			9.6			7.6
Impact of other adjustments for Adjusted Net Income		0.4			3.9			1.9			0.6			1.7			2.0			3.0
Adjusted Return on Average Tangible Common Equity		12.8			11.2			10.7			13.1			12.6			11.6			10.6

EXHIBIT 99.2

To Form 8-K dated October 26, 2017

Final Transcript

Customer: Seacoast Banking Corporation

Call Title: Third Quarter Earnings

Confirmation Number: 45774470

Host: Dennis Hudson

Date: October 27, 2017

Time/Time Zone: 9:00 am Central Time

SPEAKERS

Dennis Hudson – Chief Executive Officer

Chuck Shaffer – Chief Financial Officer and Head of Strategy

Chuck Cross – Commercial Banking Executive

ANALYSTS

Michael Young – SunTrust

Steve Moss – FBR

David Feaster – Raymond James

Jeff Cantwell – Guggenheim

PRESENTATION

Operator: Welcome to the Seacoast Banking Corporation’s Third Quarter 2017 Earnings Conference Call. My name is Paulette, and I will be your operator for today’s call. At this time all participants are in a listen-only mode. Later we will conduct a question-and-answer session. [Operator instructions]. Please note that this conference is being recorded.

I will now turn the call over to Dennis Hudson, CEO. You may begin.

Confirmation Number: 45774470

October 27, 2017 at 9:00 am Central Time

Page 2

Dennis Hudson: Thank you, Paulette. Before we begin, I want to direct everyone’s attention to the statement contained at the end of our company’s press release regarding forward-looking statements. Seacoast will be discussing issues that constitute forward-looking statements within the meaning of the Securities and Exchange Act, and our comments today are intended to be covered within the meaning of that Act.

Thank you, everyone, for joining us today for Seacoast’s third quarter 2017 earnings conference call. Our press release, which we released yesterday after the market close, and our investor presentation, can be found on the investor portion of our website under presentations.

With us today is Chuck Shaffer, our Chief Financial Officer and Head of Strategy, who will discuss our financial and operating results; Julie Kleffel, our Community Banking Executive; Chuck Cross, our Commercial Banking Executive; Dave Houdeshell, our Chief Risk and Credit Officer; and Jeff Lee, our Chief Marketing and Analytics Officer.

Our third quarter results show that the investments we’ve made over the past two years continue to produce results for shareholders. Building on our 90-year history, the strength of our brand, and our transformed customer service platform, we generated record commercial loan growth and solid organic growth overall. We possess one of the top-performing banking franchises in Florida, one of the nation’s most economically robust states, with solid positions in four of our state’s most-attractive markets. We continue to strengthen that franchise through our balanced growth strategy of organic growth... prudent risk management… and selective, value-creating acquisitions.

Turning to our financial results… Third quarter net revenue increased 5% over the prior quarter and 21% over the third quarter last year. Adjusted net income rose 20 percent sequentially, and 37 percent compared to last year’s third quarter. We reported adjusted net income per share of 35 cents, up 21 percent sequentially and year-over-year.

Confirmation Number: 45774470

October 27, 2017 at 9:00 am Central Time

Page 3

We are on-pace to achieve our ambitious Vision 2020 goals. We recorded adjusted average return on tangible assets of 1.16 percent… adjusted return on average tangible shareholders’ equity of 12.8%... and adjusted efficiency ratio of 57.7 percent. We achieved these results without compromising the granularity of our loan portfolio and while maintaining a risk profile that is below the industry average. We have built an integrated loan production and credit underwriting platform that is performing effectively and that is built to add high-quality assets over the long-haul.

Turning to our operations… Third quarter loan production continued strong, with record high commercial originations. Our loan pipelines are near record levels entering fourth quarter despite the impact of Hurricane Irma, about which I will say more in a moment, but we saw that normalize after the storm.

In the past, we’ve mentioned Seacoast’s digital transformation. We focus on that, not because we value digital and analytical innovation for its own sake, but because it has enabled us… and will continue to enable us in the future… to stay on top of consumers’ massively and rapidly changing expectations for what they want from their financial services partner. We continue to benefit from the rapid migration of transactions outside the branch:

Total transactions completed outside the branch rose in September to 52% compared with 43% in September two years ago.

40% of checks were deposited outside branches in September, compared to 35% in September of last year.

Mobile penetration during the quarter increased to more than 32% of eligible primary consumer checking customers, up from 29.5% September of last year.

Confirmation Number: 45774470

October 27, 2017 at 9:00 am Central Time

Page 4

And the proportion of new deposit accounts opened outside of our branches rose to 13.3% of all deposit accounts this quarter

We continue to invest in modernizing our retail and small business sales strategy, as we focus on enhancing customer lifetime value, a proprietary metric that we unveiled at last February’s investor day. We are also developing a commercial analytics portal that will connect our commercial bankers with the analytics and insights that we currently provide our retail and small business teams.

Overall, we focus relentlessly on leveraging our position as Florida’ leading community bank by addressing a larger share of our customers’ banking needs.

Shifting briefly to the M&A part of our strategy… Last week, we closed the acquisition of NorthStar Bank in Tampa. Combined with our acquisition of GulfShore Bank, we now have a strong and growing presence in Tampa, Florida’s second largest MSA.

Next month, we will close on the acquisition of Palm Beach Community Bank, which strengthens our position in Palm Beach county and extends our network further south into Palm Beach County.

We continue to look for opportunities to complete prudent acquisitions that strengthen our existing franchise in Florida’s four top markets and that expand our position in the state.

I’d like to say a few words about Hurricane Irma. Late August and early September was, as everyone knows, a difficult time for Floridians. The entire state prepared for this category five hurricane, which caused two full weeks of business interruption with one week of preparation and another week of recovery.

Confirmation Number: 45774470

October 27, 2017 at 9:00 am Central Time

Page 5

Being part of the communities in which we operate is not just something we say, it is vital to all of us. Seacoast has been part of Florida for 90 years, and it is our mission to help our local communities bounce back.

To assist our borrowers, we rolled out a number of programs to provide them with assistance. In the days following the storm, we conducted site visits and inquiries with commercial customers in our most significantly impacted areas to help assess potential recovery needs. I’m proud to say that our dedicated and committed staff spoke to around 70% of our customer base.

The financial impact of Hurricane Irma on the quarter was approximately $0.01 a share, and Chuck is going to provide some detail in his remarks. But while the financial impact was minimal, I think the emotional impact was far greater and I suspect longer- lasting. Gratified and relieved by the resilience of the Seacoast family and that our disaster planning and backup site, which we created for eventualities like this, performed so well.

Finally, given our momentum exiting Q3 and strong pipelines despite the impact of Hurricane Irma, we’re affirming our full year adjusted EPS guidance of $1.28 to $1.32.

So in summary, Seacoast is executing a carefully balanced strategy that builds loan granularity, strong organic customer acquisition and digital customer engagement in combination with smart accretive acquisitions. As seen from this and previous quarters’ results, the strategy is working, creating real and long lasting value for shareholders.

With that, I’d like to turn the call over to Chuck, who is going to review this quarter’s financials after which we’d be happy to take a few questions. Chuck?

Confirmation Number: 45774470

October 27, 2017 at 9:00 am Central Time

Page 6

Chuck Shaffer: Thank you, Denny, and thank you all for joining us this morning. As I provide my comments, I will reference a slide deck, which can be found at www.seacoastbanking.com I will start on slide 5 this morning, discussing some of the highlights for the quarter. Net revenue increased 21% year over year to $57.2 million, and adjusted net income was up 37% to $15.1 million. Sequentially, net revenue increased 5%, or $2.5 million, and adjusted net income was up 20%, or $2.5 million. Adjusted return on tangible common equity ended the quarter at 12.8%, adjusted return on tangible assets was 1.16% for the quarter, and the adjusted efficiency ratio declined to 57.7%.

All three ratios have improved meaningfully from one year ago. This improvement evidences our continuing progress towards our Vision 2020 objectives, and commitment to creating value for shareholders. Unlike prior quarters, the impact of acquisitions and branch reductions were more modest in Q3, highlighting the underlying earnings momentum and the outlook to continue to build tangible book value per share.

In early 2017, we engaged in a $200 million equity transaction that included the issuance of $50 million of new equity to support growth. Over the course of the year this capital has been employed productively, already offsetting most of the initial EPS dilution from the share issuance. Additionally, we have increased our tangible book value per share from $9.37 at the start of the year to $10.95 per share, a 17% increase in 9 months. By year end, we will have closed on three accretive acquisitions, extending the Seacoast franchise into Tampa with the GulfShore and NorthStar purchases, and strengthening our presence in South Florida with the Palm Beach Community Bank acquisition.

Turning to slide 6, as Denny mentioned the third quarter was impacted by Hurricane Irma. The storm caused two full weeks of business interruption, as one week was spent on preparation, and one week spent on recovery. The impact of Hurricane Irma on the quarter was approximately 1 cent per share. Revenue was impacted in the form of waived service charges, slower activity in wealth management, and delayed closings on loans. We incurred total direct expenses of $0.4 million, primarily compensation for staff working throughout the storm to ensure our customers had digital and web access at all times, remote support from our backup site in Nashville, Tennessee, and recovery expenses to bring our branch network back on-line. We have removed these direct incremental expenses from the presentation of

adjusted results. No adjustment has been made for revenue impacts.

Confirmation Number: 45774470

October 27, 2017 at 9:00 am Central Time

Page 7

Looking more deeply at the quarter, let’s move to slide 7, net interest income. Net interest income was up $1.6 million sequentially, and as anticipated the net interest margin was down 10 basis points sequentially, the result of lower accretion on both securities and loans when compared to the prior quarter, as well as higher interest expense on deposits and borrowings. This is in line with the guidance we provided last quarter of a net interest margin in the low 3.70s. As a reminder, the prior quarter benefited from accretion that was above our normal run rate for both loans and securities.

Looking forward and inclusive of NorthStar and Palm Beach Community Bank, we expect the net interest margin to be in mid 3.70s in the fourth quarter and increase to the high 3.70s by the second quarter of 2018, assuming no change in short or long-term interest rates. This includes 11 basis points of accretion, which will remain volatile as we move forward.

Both NorthStar and Palm Beach will be modestly accretive to NIM, primarily the result of higher yielding loan portfolios. A changing mix from securities to loan outstandings over the coming quarters should offset modest increases in deposit rates, based on our loan production targets.

We remain asset sensitive, and a 100-200 basis point parallel increase in rates would equate to approximately 4-7% improvement in net interest income over the next 12 months, and 7-13% improvement in net interest income on a 12 to 24 month period. We will continue to manage to an asset sensitive balance sheet, which is bolstered by a very valuable low cost deposit portfolio. A 25 basis point increase in the Federal Funds rate results in approximately a 2 cents per share increase in earnings on an annualized basis. We do not expect the two acquisitions to meaningfully impact our asset sensitive interest rate risk position.

Confirmation Number: 45774470

October 27, 2017 at 9:00 am Central Time

Page 8

Moving to slide 8, adjusted noninterest income increased $1.0 million over the prior quarter, and is up $1.7 million from the prior year’s third quarter. Of the $1.0 million increase over the prior quarter, mortgage banking fees represented $866 thousand, in large part due to the $57.7 million sale of conforming residential mortgages originated in prior periods. The sale was transacted to manage on-balance sheet liquidity, and monetize gains given the fall in long term rates during the quarter. Looking forward, we will continue to take advantage of these types of opportunities if they arise.

The increase in bank owned life insurance was the result of a $30 million investment made late in the third quarter, with a first year expected return of approximately 6.2% on a tax equivalent basis. Of note, service charges on deposits, interchange income, and wealth management fees were impacted by Hurricane Irma, due to the two week business disruption I mentioned previously. The continued higher results in other income is the result of pricing changes implemented in the second quarter of this year, increased demand for interest rate swaps by our commercial borrowers, and more modestly, gains on sale from SBA related production. Looking forward, we expect both swap related income and gain on sale from SBA related production to continue to improve.

Moving to slide 9, adjusted noninterest expense was down $1.0 million from the prior quarter, and up $2.7 million from the prior year’s third quarter. The quarter over quarter decrease was the result of the full impact from the consolidation of five branches early in 2017, improved expense discipline, and the benefit of a net gain on other real estate owned and repossessed assets. The adjusted noninterest expense to average tangible asset ratio declined to 2.50% for the quarter from 2.76% in the third quarter of 2016. This quarter highlights the underlying adjusted expense run rate of Seacoast exclusive of the two acquisitions pending. In aggregate, the two acquisitions will add $1.6 million in noninterest expense to the fourth quarter, and $2.0 million per quarter to 2018. We continue to carefully balance investments with current earnings, and we anticipate making investments totaling approximately $4.5 million in 2018 to improve our processes and tools for commercial banking… invest in talent and tools for our enterprise risk management and technology functions,… and further upgrade our analytics and digital marketing capabilities. These investments will help scale our organization appropriately, and set the stage for sustainable high-quality earnings growth in 2019 and beyond. These investments are not expected to impact our objective of exiting 2018 with a tangible efficiency ratio in the low 50s. Our continued growth in top-line revenue, in combination with continued expense discipline throughout the franchise, creates opportunities to make investments necessary to achieving our vision 2020 targets.

Confirmation Number: 45774470

October 27, 2017 at 9:00 am Central Time

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We are well on our way to our previously announced goal of closing 20% of our locations in the next 24 to 36 months. We have consolidated 5 branches year to date, and will be targeting another 2-3 branches during 2018 and 2-3 in 2019. In addition, we will consolidate three locations as part of the acquisitions of NorthStar and Palm Beach Community Bank. Branches are still valuable to our customers for more complex transactions and keep our brand visible to customers and prospects, but simple tasks - such as depositing funds - are rapidly migrating to a digital world. We are clearly building an integrated approach to meeting our customer’s needs. We now provide a full suite of mobile products, on-line technology, remote ATM locations, call center convenience, and rebranded premium retail locations for our customers. We believe this integrated approach aligns with today’s customer expectations. As we move forward, we will continue to monitor the ever increasing rotation of customer preference to digital and react accordingly.

We recorded a $7.9 million income tax provision in the third quarter of 2017. The quarter tax provision benefited from the adoption of ASU 2016-09, Improvements to Employee Share-Based Payment Accounting. As a result, Seacoast recorded a benefit of $137,000 in the quarter. Looking ahead we expect our effective tax rate to be approximately 35.5 (adjusted) in the fourth quarter, and 35% (adjusted) in 2018.

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Moving to slide 10, our adjusted efficiency ratio decreased to 57.7% in line with our internal objective. Our target is to exit 2017 with an adjusted efficiency ratio near the mid 50s as we continue to build a more streamlined organization and generate strong growth in top line revenue. We expect this ratio to continue to improve into 2018, excluding the seasonal impact of the first quarter. Our 2018 target is to exit the year with an efficiency ratio in the low 50s.

Turning to slide 11, loan outstandings continued to grow during the [third] quarter, increasing $55 million. Excluding the impact of a conforming mortgage sale, loans grew organically $112 million, or 3.4% sequentially, and 14% annualized. Excluding acquisitions, organic loan outstandings grew 13% over the prior year. Record production from our commercial team in the quarter was offset slightly/somewhat by elevated paydowns.

Looking forward, we expect loan production will continue to reflect the underpinnings of a strong Florida economy, and continued customer receptivity to our relationship- and convenience-based approach to helping meet their needs. Our Pipelines remain very strong at quarter end, and are near record levels. The commercial pipeline ended the quarter at $155 million, residential at $64 million, and consumer/small business in aggregate at $47 million. During 2017, we will have added the lending teams at GulfShore Bank, Palm Beach Community Bank, NorthStar Bank, and the commercial equipment team in Tampa.

We continue to focus on building a well-diversified loan book. Our average commercial loan size is $369 thousand. Our top 10 relationships as a % of total capital are 31% at the end of the third quarter, down from 39% at the end of the third quarter of 2016. Those who attended our investor day will remember that our credit and underwriting functions are able to process the volume that smaller loan granularity requires. The upside, of course, is a less-risky portfolio. Looking forward, we expect organic loan growth to continue in the mid-teens and the loan yield should remain stable, in the high 4.60%s to low 4.70%s. This includes the impact of the two acquisitions and excludes any outsized non-cash accretion affects from loans included in purchase credit impaired or acquired loan pools.

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Turning to slide 12, deposit outstandings grew by $138 million quarter over quarter, and were up $603 million from the third quarter in the prior year. Excluding the impact of acquired deposits, total deposits increased 1% from one year prior. Deposit growth across all markets was partially offset by outflow associated with public fund money market accounts. Without this outflow, organic deposit growth was 3% year over year. Rates paid on deposits increased 5 basis points to 22 basis points quarter over quarter, reflecting the lag effect of a rise in short term rates. Looking ahead, we expect to grow deposit outstandings in the 6% range, with modest increases in deposit rates paid to customers as we compete more aggressively for funding.

Turning to slide 13, credit quality continues to be strong, benefiting from rigorous credit selection that emphasizes a through-the-cycle orientation and builds on customer relationships in well-understood, known markets and sectors as well as maintaining diversity of loan mix and granularity. The allowance to total loans was 77 basis points at quarter end, down one basis point from the prior quarter. In the non-acquired loan portfolio, the ALLL ended the quarter 0.91% of loans outstanding, down 4 basis points from the prior quarter. The decline in coverage in the non-acquired loan ALLL was the result of improved credit quality and loan mix as well as another quarter of nominal losses in this portfolio. Additionally, commercial and commercial real estate concentration risk continues to decline as we continue to maintain a well-diversified and granular portfolio.

Our allowance for loan losses to non-performing-nonacquired loans during the third quarter was 237%, compared to 245% in the prior quarter, and 210% in the same period one year prior. Nonperforming loans continue to be nominal, totaling only $14.4 million.

Net charge offs were $279 thousand for the quarter, compared to net recoveries of $101 thousand in the prior quarter, and net recoveries of $1.5 million in the third quarter of the prior year.

Looking forward, the provision for credit losses will continue to be influenced by loan growth.

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Turning to slide 14, our capital position remains strong. The common equity tier 1 capital ratio (CET1) was 12.4%, total risk based capital ratio was 14.8% and the tier 1 leverage ratio was 10.2% at September 30, 2017. The tangible common equity to tangible asset ratio was 9.1% at quarter end.

We expect to achieve our adjusted earnings per share guidance for 2017, of $1.28 to $1.32 per share, and our goal is to exit the year with an efficiency ratio in the mid 50s. We will continue to expand our analytical and digital capabilities, generate both organic and acquisition-related growth, and capitalize on our strong position in the robust Florida economy.

We look forward to your questions. I’ll now turn the call back over to Denny.

Dennis Hudson: Thanks, Chuck. And we’d be happy to take a few questions, operator.

Operator: Thank you. We will now begin the question-and-answer session. [Operator instructions]. And our first question comes from Michael Young from SunTrust. Please go ahead.

Michael Young: Good morning.

Dennis Hudson: Good morning, Michael.

Michael Young: I wanted to start off on the NIM commentary, Chuck, to the mid 3.75% I think you said by 2Q next year, correct me if I misheard that. Embedded within that, do you expect some continued positive balance sheet remix towards loans from deposits and the loan to deposit ratio moving higher? Or do you expect to get a little more aggressive on deposit pricing to kind of push deposit growth higher? Maybe just help me understand some of the puts and takes there.

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Chuck Shaffer: Sure. The way I think about it is the guidance for fourth quarter is mid 3.70’s and then that should climb to the high 3.70’s by Q2 of next year. That’s inclusive of the two acquisitions in Q4, and I think when you look forward there will be a positive mix shift from declining securities portfolio and a growing loan book, and we will compete a little more aggressively for deposits moving forward. We put out guidance—the guidance that we provided is a 6% deposit growth. So assuming we achieve our objective there, growing deposits, we should see NIM remain stable to slightly growing over the next couple of quarters.

Michael Young: Okay, great. And maybe just sticking with the deposits, in terms of maybe where you’re seeing pressure at this point if any other than sort of the public funds piece, could you maybe characterize it geographically at all? Is it more in kind of the major MSAs, Orlando, Tampa versus the legacy deposit base? Just curious any color there.

Chuck Shaffer: Yes. Definitely the more urban market is more competitive. And the pricing pressure is in the public funds arena in the larger commercial client-type customers, wholesale funding is where the pricing pressure is. If you look at over our last 12 months, our public fund money market balances are down about $102 million over the year. So when you take that out our deposit growth was about 3% and it’s one of our key focuses moving forward. But the competitive pressure is primarily in the urban markets.

Michael Young: Okay. And maybe just last one for Denny. It seems like we’re kind of passed a lot of the restructuring charges related with just kind of improving the efficiency ratio and expense base going forward, so tangible book value growth is increasing. Do you think you’d need to retain all of that capital to support growth? Or do you think there’s opportunities to maybe reinstitute a dividend or other capital management actions that maybe we’re not thinking of?

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Dennis Hudson: And I think we’ll be looking at that. I mean you asked the right question. We still see some opportunities for growth from an M&A perspective. So I think it’s important to maintain a continued strength to those capital ratios. But I would say that is an evolving conversation and something we’ll probably have more to talk about next year.

Michael Young: Okay, great. Thanks, guys.

Chuck Shaffer: Thanks, Mike.

Operator: [Operator instructions]. Our next question comes from Steve Moss from FBR. Steve, please go ahead.

Steve Moss: Good morning.

Dennis Hudson: Good morning, Steve.

Steve Moss: On the margin, I was wondering, does your guidance include a Fed hike in those numbers?

Chuck Shaffer: Thanks, Steve. No, that assumes rates remain where they are today; no change in short-term or long-term rates.

Steve Moss: Okay. And in terms of asset sensitivity, it’s fair to think about 3 to 4 basis points in terms of margin expansion from a hike.

Chuck Shaffer: Correct. That’s exactly the right number.

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Steve Moss: Okay. On the deposit side a little bit of increase here in broker deposits, wondering if your deposit growth includes some component of that as well.

Chuck Shaffer: I think at this point there may be very minor increases now looking forward. But the deposit growth guidance we’re given and what we want to get accomplished would come from our retail small business and commercial teams, and probably much less though on broker deposits. We’ve got about what we want in that bucket.

Steve Moss: Okay that’s helpful. Then in terms of—and just one other clarification on the margin, on loan yields, the 460 to 470 number that was inclusive or exclusive of purchase accounting?

Chuck Shaffer: Yes. That includes purchase accounting; that includes the accretion.

Steve Moss: Okay that’s helpful. And just on the M&A front, Denny you said, you still see opportunities to do deals. Wondering if there’s been any increase in discussions or activity or is that a little further out.

Dennis Hudson: Increase in what activity?

Steve Moss: In M&A discussions.

Dennis Hudson: Okay. I would suffice it to say that we’re continuously alert to opportunities. We continuously talk with folks across the state. And when we see an opportunity that makes sense for us that we think can add real value to what we’ve created here, we engage. So I think those opportunities still exist, they’re still out there. And over the next year you’ll continue to see more of that develop as we go through time. But I don’t have anything specific to talk about in terms of that, but they continue to be there.

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Steve Moss: All right. Well thank you very much.

Chuck Shaffer: Great. Thanks, Steve.

Dennis Hudson: Thanks, Steve.

Operator: And our next question comes from David Feaster from Raymond James. Please go ahead.

David Feaster: Good morning guys.

Chuck Shaffer: Hi, David.

David Feaster: Loan growth was a bit lighter than expected, and I suspect as you talked about there is business interruption from the storm. Could you just try and quantify that and maybe what you’re seeing thus far early in the fourth quarter that gives you confidence that you can get back to that mid-teens run rate?

Chuck Shaffer: Yes, I think, when you look at that the storm specifically delayed closings towards the end of the month and our mortgage pipeline as well was certainly impacted by it. Early right out the shoot here coming into Q4 we’ve seen good strong production, teams are back online. Things that got pushed are getting closed, and so we feel confident we’re sort of back on track with our run rate.

Dennis Hudson: And I’ll just add, we saw record commercial originations this quarter. We hit a record in the residential production this quarter. We had a little bit of elevated pay offs in the commercial book, which was a little bit of a surprise. And as we ended the quarter, our pipelines are pretty much very close to a record number. So when we look into Q4, we see continued really solid growth, solid organic growth and loan.

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So I think just a reminder, we had a mortgage sale that occurred this quarter that impacted the growth rate. When you take that out, I think our growth rate was up closer to maybe expectation. And frankly we see a very, very positive market out there, in terms of continued loan growth. On the deposit side we’ve seen tremendously positive organic growth.

Again as we pointed out earlier on the call, we saw a little bit of a cutback in that growth due to the loss of some higher yielding liabilities, primarily out of the municipal portfolio that we have. But when you ex that out - 3% growth, which wasn’t bad. This is the seasonally weakest quarter that we typically have, and we’re expecting those growth rates to come back as we stated earlier as we look forward. So actually we couldn’t be happier with our loan growth this quarter.

David Feaster: Terrific. Could you just talk about your hiring plans going forward? Last quarter you’ve hired a team in Tampa. How are conversations going? Are you still having good conversations to pick off new teams and maybe what markets you’re most focused on, any detail you have there?

Chuck Cross: David, this is Chuck Cross. The only comment there is that we continually talk to people around the state, both individuals and teams. We’re opportunistic when they’re ready to move or see this is an opportunity.

Dennis Hudson: As Chuck said earlier, we’ve added substantially to the team this quarter with the acquisitions that will close, both in Tampa and in Palm Beach County. The number count there is actually pretty impressive and I’m very impressed with the people that are joining us on that team, in particular it helps us build out a much stronger team, I think, or a deeper team in the Tampa market, which is just now starting to produce some growth for us. When you add the impact of that incredible market in Tampa-St. Pete, it gives us much greater capacity to continue to focus on growth.

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David, when you look back over the last several years, we have dramatically shifted our loan production into deeper metro areas across the state. And that is what will continue to drive positive results for us both in terms of the loan growth and in particular commercial deposit growth out of those markets.

David Feaster: Great. On your expense guidance is that—you talked about adding $2 million of expenses, I believe in the first quarter. Is that off the 3Q run rate and would that imply kind of that $35.5 million to $36 million, I’m assuming is an inclusive of cost savings, as kind of a good base for quarterly expenses next year?

Chuck Shaffer: Yes.

David Feaster: Got it. Thank you.

Operator: Our next question comes from Jeff Cantwell from Guggenheim. Please go ahead.

Jeff Cantwell: Hi, good morning.

Dennis Hudson: Morning.

Jeff Cantwell: Thanks for taking my question. I just wanted to talk about your improvement in the efficiency ratio, and the extent to which that’s tied to the increase in mobile penetration. I guess clearly the argument will be some of the improvement in your efficiency ratio subscribe to your digital strategy. So I’m just trying to get a better feel for the extent by which mobile penetration should increase further, as we start to think about 2018 and how much of a driver that would be with respect to the efficiency ratio. Thanks.

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Chuck Shaffer: Yes, there’s certainly an interlink between the third-party providers and the expense associated with digital penetration. That being said, the cost to service a relationship, be it mobile or digital, is far, far lower than it is on a traditional basis. So it’s up to us to make sure as customers migrate to a more digital platform and as customer preferences change, that we take action across our network and rotating expenses out of the network, which is what we’ve done over the last two to three years, and as we’ve seen customers migrate to digital; and as that continues, we’ll continue to allow that to happen. So I think net/net it’s actually a positive, the more customers migrate to digital, and it’s something we encourage and are driving towards, and it’s up to us to execute against that opportunity.

Dennis Hudson: Really important, really a little more complicated, of course, and in terms of really trying—that was well said, Chuck,— I guess what I’m trying to say is as we begin to make those connections and connect them into actual dollar reductions in overhead, the processes we use to understand, how fast we can move become increasingly critical. That’s been a big part of our success, I think in bringing that ratio down, is being able to have that to build those connections between the behavioral-change and reducing what was our fixed infrastructure cost.

And so that’s really the key to the whole thing. When we rolled out to the 2020 Vision in February of this year that was one big piece of it, but there are many other pieces of that 2020 Vision that rest on top of those same concepts as we can continue to improve the efficiency of being able to deliver and fulfill, for example, our lending products across the line. So it’s an interesting time, but there’s tremendous opportunity, as you point out, to bring those expense ratios down in the world we see ahead.

Jeff Cantwell: Great. Appreciate the color. Thanks very much.

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Dennis Hudson: Thanks, Jeff.

Operator: And we’re showing no further questions. I’ll turn the call back to Dennis Hudson for closing remarks.

Dennis Hudson: Thank you, operator, and thank you, everybody, for attending today. We look forward to talking with you again after the first of the year. Thank you.

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

Exhibit 99.3

Q3 - 2017 Earnings Presentation Contact: (email) Chuck.Shaffer@SeacoastBank.com (phone) 772.221.7003 (web) www.SeacoastBanking.com

This presentation contains “forward - looking statements” within the meaning of Section 27 A of the Securities Act of 1933 and Section 21 E of the Securities Exchange Act of 1934 , including, without limitation, statements about future financial and operating results, ability to realized deferred tax assets, cost savings, enhanced revenues, economic and seasonal conditions in our markets, and improvements to reported earnings that may be realized from cost controls and for integration of banks that we have acquired, as well as statements with respect to Seacoast’s objectives, expectations and intentions and other statements that are not historical facts . Actual results may differ from those set forth in the forward - looking statements . Forward - looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance or achievements of Seacoast to be materially different from future results, performance or achievements expressed or implied by such forward - looking statements . You should not expect us to update any forward - looking statements . You can identify these forward - looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “support”, “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “further”, “point to,” “project,” “could,” “intend” or other similar words and expressions of the future . These forward - looking statements may not be realized due to a variety of factors, including, without limitation : the effects of future economic and market conditions, including seasonality ; governmental monetary and fiscal policies, as well as legislative, tax and regulatory changes ; changes in accounting policies, rules and practices ; the risks of changes in interest rates on the level and composition of deposits, loan demand, liquidity and the values of loan collateral, securities, and interest sensitive assets and liabilities ; interest rate risks, sensitivities and the shape of the yield curve ; the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions operating in our market areas and elsewhere, including institutions operating regionally, nationally and internationally, together with such competitors offering banking products and services by mail, telephone, computer and the Internet ; and the failure of assumptions underlying the establishment of reserves for possible loan losses . The risks of mergers and acquisitions, include, without limitation : unexpected transaction costs, including the costs of integrating operations ; the risks that the businesses will not be integrated successfully or that such integration may be more difficult, time - consuming or costly than expected ; the potential failure to fully or timely realize expected revenues and revenue synergies, including as the result of revenues following the merger being lower than expected ; the risk of deposit and customer attrition ; any changes in deposit mix ; unexpected operating and other costs, which may differ or change from expectations ; the risks of customer and employee loss and business disruption, including, without limitation, as the result of difficulties in maintaining relationships with employees ; increased competitive pressures and solicitations of customers by competitors ; as well as the difficulties and risks inherent with entering new markets . All written or oral forward - looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 10 - K for the year ended December 31 , 2016 under “Special Cautionary Notice Regarding Forward - Looking Statements” and “Risk Factors”, and otherwise in our SEC reports and filings . Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http : //www . sec . gov . Cautionary Notice Regarding Forward - Looking Statements 2

• $5.3 billion in assets operating in the nation’s third most - populous state • Strong and growing presence in four of Florida’s most attractive MSAs ‒ Market leading presence in Orlando, Florida ‒ Growing share in West Palm Beach ‒ #1 share in Port St Lucie MSA ‒ Growing presence in Tampa MSA • Investing in digital transformation, innovative business banking delivery • Growth - oriented culture, engaged associate base, strong customer advocacy • Engaged and independent board • Market Cap: $1.0 billion (9/30/17) Transformed Florida Bank, Benefitting from Attractive Geography, Investments in Digital Transformation and Commercial Loan Platform, and Strategic Acquisitions 3 Seacoast Bank [NASDAQ: SBCF] Orlando MSA West Palm Beach, Ft Lauderdale MSA Port St Lucie MSA Tampa MSA Seacoast Customer Map

Experienced Board & Management Team Comprehensive Customer Servicing Model Track Record of Value - Creating Acquisitions Expanding Analytical & Digital Capabilities Well - Positioned to Benefit From Florida Market Focused on Controls Experienced Board & Management Team Comprehensive Customer Servicing Model Track Record of Value - Creating Acquisitions Expanding Analytical & Digital Capabilities Well - Positioned to Benefit From Florida Market Focused on Controls 4 Seacoast’s Differentiated Strategy

5 3Q’17 Highlights With over 100,000 households and a growing presence in Florida’s most attractive markets, we have one of Florida’s top - performing banking franchises. • The third quarter earnings per share totaled $0.32 on a GAAP basis, and $0.35 per share on an adjusted basis 1 . • Unlike prior quarters, the impact of merger - related expenses and expenses associated with branch reductions was modest, highlighting the strong momentum in growth of earnings and growth in tangible book value per share. • Net revenue increased 21% year - over - year to $57.2 million, net income rose 56% to $14.2 million during the same period, adjusted net income increased 37% to $ 15.1 million. • On a GAAP basis, we ended the quarter at 1.12% ROTA, 12.4% ROTCE, and 58.9% efficiency ratio. On an adjusted basis, third quarter results were 1.16% adjusted ROTA 1 , 12.8% adjusted ROTCE 1 , and 57.7% adjusted efficiency ratio 1 . We are on - target to achieve our Vision 2020 goals of 1.30+% ROTA, 16%+ ROTCE, and <50.0% efficiency ratio. • During the third quarter, the commercial banking group originated $146 million in production, and ended the quarter with a pipeline of $155 million, both record results. • We received regulatory approvals on Northstar Banking Corporation and Palm Beach Community Bank during the third quarter. Northstar closed and converted on October 20, 2017 and Palm Beach Community Bank is on - track to close and consolidate in November 2017. 1 Non - GAAP measure, see “Explanation of Certain Unaudited Non - GAAP Financial Measures” Effective in the first quarter of 2017, adjusted net income and adjusted noninterest expense exclude the effect of amortizati on of acquisition - related intangibles. Prior periods have been revised to conform with the current period presentation.

Hurricane Irma Impact 6 • Late in the third quarter, the entire state of Florida was preparing for the potential impact of dangerous category 5 Hurricane Irma. This caused a full two weeks of business interruption as one week was spent on preparation and a second week on recovery. Ultimately the storm made landfall in the Florida keys as a category 4 storm and a second landfall in Marco Island in southwest Florida. • The impact of Hurricane Irma on the quarter was approximately $0.01 per share. Revenue was impacted in the form of waived service charges, slower activity in wealth management, and delayed closings on loans. Direct expenses totaled $0.4 million, comprising compensation for staff working throughout the storm to ensure our customers had digital and web access at all times, remote support from our backup site in Nashville, Tennessee, and recovery expenses to bring our branch network back on - line. These direct incremental expenses were removed from the presentation of adjusted results. • To assist our borrowers in recovering from Irma, we provided a loan deferral/extension allowing borrowers to request up to 3 payments to be deferred, effectively moving the due date out 1 - 3 months. • In the days following the storm, we conducted site visits and inquiries with commercial customers throughout our markets to help assess potential recovery needs. We had direct conversations with commercial customers covering 69 % of the commercial portfolio, and expect any credit - related impacts to be nominal. • The residential mortgage pipeline ended the quarter lower; however, prequalification and application intake has stabilized post - storm.

7 $37,735 $37,628 $38,377 $44,320 $45,903 3.69% 3.56% 3.63% 3.84% 3.74% $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Net Interest Income and Net Interest Margin* ($ in thousands) • Net interest income* totaled $45.9 million, up $1.6 million or 4% from the prior quarter and $8.3 million or 22% from the prior year quarter. • Net interest margin was 3.74% in the current quarter compared to 3.84% in the prior quarter and 3.69% in the third quarter of 2016. The decrease quarter over quarter was the result of lower accretion on both securities and loans when compared to the prior quarter, as well as higher interest expense on deposits and borrowings. *Calculated on a fully taxable equivalent basis using amortized cost. Net Interest Income and Margin

8 $2,698 $2,612 $2,422 $2,435 $2,626 $2,306 $2,334 $2,494 $2,671 $2,582 $1,283 $1,449 $1,257 $1,268 $1,318 $1,885 $1,616 $1,552 $1,272 $2,138 $1,210 $1,300 $1,447 $2,064 $1,981 $611 $733 $757 $836 $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 $9,000 $10,000 $11,000 $12,000 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 BOLI Other Income Mortgage Banking Fees Wealth Management Fees Interchange Income Service Charges $836 Adjusted Noninterest Income (in thousands) $9,764 • During the quarter the Company liquidated salable conforming mortgages originated from prior periods totaling $ 57.7 million at a weighted average yield of 3.41%. This action was taken to manage on - balance sheet liquidity, and monetize gains given the fall in long term rates during the quarter. • Late in the quarter, the Company purchased $30 million investment in bank owned life insurance at a first - year tax equivalent return of 6.2%. $9,922 $9,905 $10,467 $11,481 $ 382 Adjusted Noninterest Income 1 1 Non - GAAP measure, see “Explanation of Certain Unaudited Non - GAAP Financial Measures” Effective in the first quarter of 2017, adjusted net income and adjusted noninterest expense exclude the effect of amortizati on of acquisition - related intangibles. Prior periods have been revised to conform with the current period presentation.

9 $15,828 $14,799 $16,389 $18,225 $18,097 $3,223 $3,030 $3,267 $3,108 $3,211 $4,418 $4,463 $4,625 $4,750 $4,500 $6,645 $6,562 $6,641 $7,746 $6,998 $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Other Occupancy / Telephone Data Processing Cost Salaries and Benefits Adjusted Noninterest Expense (in thousands) $32,806 $30,114 $28,854 $30,922 $33,829 • As a percentage of average tangible assets, adjusted noninterest expense in the third quarter of 2017 was 2.50% compared to 2.73% for the prior quarter and 2.76% for the third quarter of 2016. • The reduction in other expenses quarter over quarter includes a net gain on other real estate owned and repossessed assets of $ 414,000 in the quarter. 1 Non - GAAP measure, see “Explanation of Certain Unaudited Non - GAAP Financial Measures” Effective in the first quarter of 2017, adjusted net income and adjusted noninterest expense exclude the effect of amortizati on of acquisition - related intangibles. Prior periods have been revised to conform with the current period presentation. Adjusted Noninterest Expense 1

10 82.80% 104.50% 68.30% 68.60% 76.30% 72.6% 81.7% 78.0% 68.6% 62.4% 71.1% 73.9% 58.9% 40% 50% 60% 70% 80% 90% 100% 110% GAAP - Efficiency 79.6% 74.8% 67.5% 67.5% 68.2% 69.1% 69.6% 64.8% 63.1% 60.8% 64.7% 61.2% 57.7% 40% 50% 60% 70% 80% 90% 100% 110% Adjusted - Efficiency 1 1 Non - GAAP measure, see “Explanation of Certain Unaudited Non - GAAP Financial Measures” Effective in the first quarter of 2017, adjusted net income and adjusted noninterest expense exclude the effect of amortizati on of acquisition - related intangibles. Prior periods have been revised to conform with the current period presentation. • Both GAAP and Adjusted Efficiency ratios dropped into the high 50’s, in line with guidance provided in prior quarters. Efficiency Ratio

11 Total Loans Outstanding (in millions) • Loans grew $612 million or 22% from year - ago levels. Adjusting for acquisitions, loans grew $365 million or 13%. • Strong commercial production was partially offset in the quarter by the $ 57.7 million sale of residential mortgages. • Pipelines remain strong, with the commercial pipeline at a record $155 million, residential at $64 million, and consumer/small business at $47 million. $2,769 $2,879 $2,974 $3,330 $3,385 4.67% 4.49% 4.43% 4.69% 4.70% 4.39% 4.16% 4.10% 4.33% 4.42% $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Loans Reported Yield Yield Excluding Purchased Non-Impaired and Purchased Credit Impaired Loan Growth Momentum Continues, Supported by a Strong Florida Economy, and Prudent Guardrails (Yields presented above do not reflect FTE adjustments)

12 • Total deposits increased 17% from the third quarter of 2016. Organic deposits grew 1% compared to one year prior. Growth across all markets was partially offset by outflow associated with public fund money market accounts. Without this outflow, organic deposit growth was 3% year over year. • Transaction accounts represent 54% of total deposits, and have increased 14% year over year. • Brokered time deposits totaled $282 million at the end of the third quarter. • Cost of deposits remains very attractive at 0.22%. $1,945 $2,022 $2,096 $2,243 $2,220 $1,200 $1,149 $1,185 $1,238 $1,250 $365 $352 $398 $494 $643 $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Transaction Accounts Savings and Money Market Time Deposits Deposit Balances (in millions) $4,113 $3,510 $3,253 $3,679 54% $3,975 The Deposit Franchise Continues to Perform Well and Serves as a Source of Earnings Strength

13 Net Charge - offs Nonperforming Loans ALLL $22,684 $23,400 $24,562 $26,000 $26,232 0.98% 0.96% 0.95% 0.95% 0.91% 0.82% 0.81% 0.83% 0.78% 0.77% 1 2 3 4 5 ALLL ALLL Ratio - Non-Acquired ALLL Ratio - Total Non - Acquired ALLL to Nonperforming $(1,492) $228 $93 $(101) $279 - 0.22% 0.03% 0.01% - 0.01% 0.03% 3Q 16 4Q 16 1Q 17 2Q 17 3Q 17 NCO NCO / Loans $10,561 $11,023 $10,557 $10,541 $10,877 $7,876 $7,048 $6,428 $6,632 $3,498 0.67% 0.63% 0.57% 0.52% 0.42% 3Q 16 4Q 16 1Q 17 2Q 17 3Q 17 NPL - Non-Acquired NPL - Acquired Total NPL Ratio Credit Quality ($ in thousands) $22,225 $23,243 $24,487 $25,809 $25,822 210.44% 210.86% 231.95% 244.84% 237.40% 3Q 16 4Q 16 1Q 17 2Q 17 3Q 17 ALLL Non-Acquired ALLL to Nonperforming Non-Acquired Ratio

Capital Position 14 Tangible Book Value / Book Value Per Share $9.35 $9.37 $10.41 $10.55 $10.95 $11.45 $11.45 $12.34 $13.29 $13.66 3Q 16 4Q 16 1Q 17 2Q 17 3Q 17 Tangible Book Value Per Share Book Value Per Share 12.6% 13.1% 10.7% 11.2% 12.8% 3Q 16 4Q 16 1Q 17 2Q 17 3Q 17 Adjusted Return on Tangible Common Equity 1 13.4% 13.3% 14.9% 14.5% 14.8% 12.6% 12.6% 14.2% 13.8% 14.1% 3Q 16 4Q 16 1Q 17 2Q 17 3Q 17 Total Risk Based Capital Tier 1 Ratio Total Risk Based and Tier 1 Capital Tangible Common Equity / Tangible Assets 8.0% 7.7% 9.0% 8.9% 9.1% 3Q 16 4Q 16 1Q 17 2Q 17 3Q 17 1 Non - GAAP measure, see “Explanation of Certain Unaudited Non - GAAP Financial Measures” Effective in the first quarter of 2017, adjusted net income and adjusted noninterest expense exclude the effect of amortizati on of acquisition - related intangibles. Prior periods have been revised to conform with the current period presentation.

Investor Presentation Charles M. Shaffer Executive Vice President Chief Financial Officer (772) 221 - 7003 Chuck.Shaffer@seacoastbank.com INVESTOR RELATIONS www.SeacoastBanking.com NASDAQ: SBCF 15 15 Contact Details: Seacoast Banking Corporation of Florida

This presentation contains financial information determined by methods other than Generally Accepted Accounting Principles (“GAAP”) . The financial highlights provide reconciliations between GAAP net income and adjusted net income, GAAP income and adjusted pretax, preprovision income . Management uses these non - GAAP financial measures in its analysis of the Company’s performance and believes these presentations provide useful supplemental information, and a clearer understanding of the Company’s performance . The Company believes the non - GAAP measures enhance investors’ understanding of the Company’s business and performance and if not provided would be requested by the investor community . These measures are also useful in understanding performance trends and facilitate comparisons with the performance of other financial institutions . The limitations associated with operating measures are the risk that persons might disagree as to the appropriateness of items comprising these measures and that different companies might calculate these measures differently . The Company provides reconciliations between GAAP and these non - GAAP measures . These disclosures should not be considered an alternative to GAAP . Explanation of Certain Unaudited Non - GAAP Financial Measures 17

(Q3 16 – Q3 17) GAAP to Non - GAAP Reconciliation 18 (Dollars in thousands except per share data) Third Quarter: 2017Second Quarter: 2017 First Quarter: 2017 Fourth Quarter: 2016 Third Quarter: 2016 Net income (loss) 14,216 7,676 7,926 10,771 9,133 Security Gains 47 (21) 0 (7) (225) Total Adjustments to Revenue 47 (21) 0 (7) (225) Merger related charges 491 5,081 533 561 1,699 Amortization of intangibles 839 839 719 719 728 Business continuity expenses - Hurricane Irma 352 0 0 0 0 Branch reductions and other expense initiatives (127) 1,876 2,572 163 894 Total Adjustments to Noninterest Expense 1,555 7,796 3,824 1,443 3,321 Tax impact of adjustments (673) (2,786) (1,480) (404) (1,168) Adjusted Net Income 15,145 12,665 10,270 11,803 11,061 Earnings per diluted share, as reported 0.32 0.18 0.20 0.28 0.24 Adjusted earnings per diluted share 0.35 0.29 0.26 0.31 0.29 Average shares outstanding (000) 43,792 43,556 39,499 38,252 38,170 Revenue 57,183 54,644 48,070 47,354 47,437 Total Adjustments to Revenue 47 (21) 0 (7) (225) Adjusted Revenue 57,230 54,623 48,070 47,347 47,212 Noninterest Expense 34,361 41,625 34,746 30,297 33,435 Total Adjustments to Noninterest Expense 1,555 7,796 3,824 1,443 3,321 Adjusted Noninterest Expense 32,806 33,829 30,922 28,854 30,114 Foreclosed property expense and net (gain)/loss on sale (298) 297 (293) (78) 124 Net Adjusted Noninterest Expense 33,104 33,532 31,215 28,932 29,990

GAAP to Non - GAAP Reconciliation (Q3 16 – Q3 17) 19 (Dollars in thousands) Third Quarter: 2017Second Quarter: 2017 First Quarter: 2017 Fourth Quarter: 2016 Third Quarter: 2016 Adjusted Revenue 57,230 54,623 48,070 47,347 47,212 Impact of FTE adjustment 154 164 211 204 287 Adjusted Revenue on a fully taxable equivalent basis 57,384 54,787 48,281 47,551 47,499 Adjusted Efficiency Ratio 57.7% 61.2% 64.7% 60.8% 63.1% Average Assets 5,316,119 5,082,002 4,699,745 4,572,188 4,420,438 Less average goodwill and intangible assets (118,364) (114,563) (78,878) (79,620) (80,068) Average Tangible Assets 5,197,755 4,967,439 4,620,867 4,492,568 4,340,370 Return on Average Assets (ROA) 1.06% 0.61% 0.68% 0.94% 0.82% Impact of removing average intangible assets and related amortization 0.06% 0.05% 0.06% 0.06% 0.06% Return on Tangible Average Assets (ROTA) 1.12% 0.66% 0.74% 1.00% 0.88% Impact of other adjustments for Adjusted Net Income 0.04% 0.36% 0.16% 0.05% 0.13% Adjusted Return on Average Tangible Assets 1.16% 1.02% 0.90% 1.05% 1.01% Average Shareholders' Equity 587,919 567,448 466,847 437,077 430,410 Less average goodwill and intangible assets (118,364) (114,563) (78,878) (79,620) (80,068) Average Tangible Equity 469,555 452,885 387,969 357,457 350,342 Return on Average Shareholders' Equity 9.6% 5.4% 6.9% 9.8% 8.4% Impact of removing average intangible assets and related amortization 2.8% 1.9% 1.9% 2.7% 2.5% Return on Average Tangible Common Equity (ROTCE) 12.4% 7.3% 8.8% 12.5% 10.9% Impact of other adjustments for Adjusted Net Income 0.4% 3.9% 1.9% 0.6% 1.7% Adjusted Return on Average Tangible Common Equity 12.8% 11.2% 10.7% 13.1% 12.6%