Seacoast Banking Corporation of Florida (SBCF) 8-K Results of Operations and Financial Condition

EXHIBIT 99.1

To Form 8-K dated October 28, 2013

NEWS RELEASE

SEACOAST BANKING CORPORATION OF FLORIDA

Dennis S. Hudson, III

Chairman and Chief Executive Officer

Seacoast Banking Corporation of Florida

(772) 288-6085

William R. Hahl

Executive Vice President/

Chief Financial Officer

(772) 221-2825

SEACOAST REPORTS EARNINGS OF $45.9 MILLION FOR THIRD QUARTER 2013

· Valuation allowance on deferred tax assets reversed

· Pretax income increased 62.1% to $4.7 million compared with $2.9 in the second quarter 2013

· All regulatory agreements terminated

STUART, FL., October 28, 2013 – Seacoast Banking Corporation of Florida (NASDAQ-NMS: SBCF), today reported third quarter 2013 net income of $45,867,000 compared to $447,000 for the same quarter last year. Net income available to common shareholders for the third quarter 2013 totaled $44,930,000 or $0.47 per diluted common share, compared with a net loss of $490,000 or $0.01 per diluted common share for 2012. The results include an income tax benefit of $41,188,000 that includes the reversal of the valuation allowance on the net deferred tax assets for the quarter ended September 30, 2013.

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Third quarter’s net income before taxes increased to $4.7 million compared to $447,000 for the third quarter 2012 and were significantly improved compared to the second quarter’s $2.9 million. The improvements in net income before taxes, year over year, are driven by our investments in loan production personnel, digital technologies, and the effects of asset quality improvements and expense management.

The quarter was highlighted by two important events: the termination of all regulatory agreements by the Office of the Comptroller of the Currency as a result of the continued reduction in credit issues and improved operating results from 2010 forward and the reversal of the valuation allowance for deferred tax assets.

Revenue and growth initiatives continue to produce results

· Noninterest income (excluding securities gains) year to date (YTD) up 15.9 percent

· Ending net loan balances up 5.2 percent compared to a year ago

· Noninterest income to total revenue YTD increased to 27.3 percent compared to 24.6 percent a year ago

Expense reductions remain on target

· Total expenses YTD down $6.3 million or 10.0 percent

· Core expenses down $2.3 million or 4.0 percent YTD compared to year ago

· Targeting at least $7.4 million in reduced expenses for 2013

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Investments in loan production personnel producing results

· Higher loan production YTD of $430.3 million, up 29.9 percent compared to 2012

· Much stronger commercial production of $138.3 million YTD, a $78.5 million increase over 2012

· Residential loan production increased $21.1 million YTD and totaled $198.3 million

“The key to revenue growth in this low interest rate environment continues to be growing new households and business customers, increasing services per household, and growing our retail and commercial loan portfolios. Year to date loan growth and noninterest income have improved indicating we are expanding both the number of new customers while increasing our share of wallet of all customers. Total revenue continued to increase this quarter and we are on track to achieve our expense reduction goals for the year,” said Dennis S. Hudson, III Chairman and CEO. 

Growth Initiatives Build Core Earnings

· Total revenues, excluding securities gains for the quarter ended September 30, 2013 were $22.9 million, compared to $22.4 million for the second quarter 2013 and up $1.3 million compared to third quarter 2012. YTD revenues were $67.3 million compared to $64.4 million a year ago;

· Period-end noninterest bearing deposits totaled $452.9 million at September 30, 2013, up $43.8 million or 10.7 percent from the same quarter last year;

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· Third quarter average loans, net increased $8.6 million linked quarter or 2.7 percent annualized and were up $55.0 million year over year or a growth rate of 4.5 percent;

· Average total deposits increased $33.8 million or 2.0 percent year over year; and

· Several factors contributed to the sequential improvement in the net interest margin by 13 basis points to 3.25%. While loan growth, increased yields on the investment portfolio and a stable cost of funds aided the margin, the recovery of interest income related to nonaccrual loans ($505,000) provided 10 basis points improvement for the third quarter.

Over the last several years, our focused tactical initiatives have produced strong organic core customer deposit account growth and increased core customer funding. Core customer funding totaled $1.6 billion at September 30, 2013, up $91.5 million from last year’s third quarter and up 21.3 percent since the third quarter 2011. In addition, deposit mix continued to improve with noninterest bearing deposits increasing to almost 27 percent of total deposits at quarter end 2013.

	Third Quarter			Third Quarter			Third Quarter			2013 vs 2012			2012 vs 2011
(Dollars in thousands)	2013			2012			2011			Change			Change
Customer Relationship Funding
Demand deposits (noninterest bearing)	$	452,949		$	409,145		$	324,256			10.7	%		26.2	%
NOW		440,869			420,477			391,318			4.8			7.5
Money market accounts		334,678			348,275			327,654			(3.9	)		6.3
Savings deposits		187,181			158,208			128,543			18.3			23.1
Time certificates of deposit		283,233			343,361			489,503			(17.5	)		(29.9	)
Total deposits		1,698,910			1,679,466			1,661,274			1.2			1.1
Sweep repurchase agreements		134,338			122,393			106,562			9.8			14.9
Total core customer funding (1)		1,550,015			1,458,498			1,278,333			6.3			14.1
Demand deposit mix (noninterest bearing)		26.7	%		24.4	%		19.5	%

(1) Total deposits and sweep repurchase agreements, excluding certificates of deposits.

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Additional growth highlights for third quarter 2013:

· Interchange fees and service charges on deposit accounts grew by 21.4% and 7.5%, respectively, compared to last year’s third quarter;

· Fees from wealth management services totaled $1,050,000 for the third quarter, up $253,000 or 31.7 percent compared to a year ago; and

· Mortgage banking fees YTD increased $765,000 or 28.5 percent compared to a year ago but were lower compared to the sequential quarter by $181,000, as a result of higher interest rates during the quarter reducing the demand for mortgage loans.

The following details noninterest income for the third quarter ended September 30, 2013 compared to the last four quarters:

	Third		Second		First		Fourth			Third
	Quarter		Quarter		Quarter		Quarter			Quarter
(Dollars in thousands)	2013		2013		2013		2012			2012
Noninterest Income:
Service charges on deposit accounts	$	1,741	$	1,641	$	1,551	$	1,677		$	1,620
Trust income		667		675		676		592			550
Mortgage banking fees		1,075		1,256		1,114		1,030			1,155
Brokerage commissions and fees		383		362		425		292			247
Marine finance fees		283		419		272		258			279
Interchange income		1,358		1,388		1,264		1,157			1,119
Other deposit based EFT fees		77		87		98		83			70
Other		503		507		531		520			639
Total		6,087		6,335		5,931		5,609			5,679
Loss on sale of commercial loan held for sale		0		0		0		(1,238	)		0
Securities gains, net		280		114		25		582			48
	$	6,367	$	6,449	$	5,956	$	4,953		$	5,727

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Credit Quality Improves to Pre-Crisis Levels

· The Company had net recoveries of previously charged off loans of $704,000 during the third quarter 2013 which offset the need for a provision for loan losses.

· Net loss on other real estate owned and repossessed assets declined by $322,000 or 59.2 percent during the third quarter year over year, as other real estate owned was reduced by 44.5 percent during the quarter.

· Restructured loans reduced to $25.5 million down $18.7 million compared to a year ago; and

· Nonperforming loans totaled 2.27 percent of loans, compared with 2.63 percent last quarter and 4.40 percent one year ago;

· Nonperforming assets to total assets of 1.60 percent is lower compared to 2.56 percent a year ago;

· Classified assets as a ratio of tier one capital plus the allowance is down to 22.7% and special mention assets ratio declined to 4.6% at quarter end.

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	Third			Second			First			Fourth			Third
	Quarter			Quarter			Quarter			Quarter			Quarter
(Dollars in thousands )	2013			2013			2013			2012			2012
Net charge-offs (recoveries)	$	(704	)	$	2,027		$	1,517		$	2,151		$	2,416
Net charge-offs (recoveries) to average loans		(0.22	)%		0.64	%		0.49	%		0.69	%		0.79	%
Loan loss provision		0		$	565		$	953		$	1,136		$	900
Allowance to loans at end of period		1.64	%		1.59	%		1.76	%		1.80	%		1.92	%
Restructured loans (accruing)	$	25,509		$	29,612		$	41,170		$	41,946		$	44,179
Nonperforming loans	$	28,724		$	33,266		$	35,208		$	40,955		$	44,450
Other real estate owned		5,589			10,063			10,850			11,887			8,888
Nonperforming assets	$	34,313		$	43,329		$	46,058		$	52,842		$	53,338
Nonaccrual loans and accruing loans 90 days or more past due to loans outstanding at end of period		2.27	%		2.63	%		2.88	%		3.34	%		3.70	%
Nonperforming assets to total assets		1.60			1.98			2.09			2.43			2.56

Noninterest Expenses

Previously announced plans to reduce both core operating expenses and total expenses were fully implemented at year end 2012 which meaningfully reduced our expense structure for 2013. Total noninterest expenses fell by $1.8 million or 9.0 percent for the quarter compared with the prior year. Contributing to the decline were lower expenses related to OREO and other asset disposition costs as overall asset quality continued to improve as well as reduced core operating expenses.

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Core operating expenses for the quarter were reduced by $745 thousand or 4.0 percent compared with the prior year and were down $1.9 million or 3.3 percent for the first nine months compared to 2012. Core operating expenses for the quarter included $553 thousand in salaries and employee benefits expense associated with investments in new lending and credit personnel related to our growth initiatives.

Noninterest expenses for the third quarter 2013 are presented below compared to the prior four quarters:

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	Third		Second			First		Fourth		Third
	Quarter		Quarter			Quarter		Quarter		Quarter
(Dollars in thousands)	2013		2013			2013		2012		2012
Noninterest Expense:
Salaries and wages	$	7,533	$	7,892		$	7,437	$	7,258	$	7,442
Employee benefits		1,713		1,823			2,223		1,860		1,924
Outsourced data processing costs		1,657		1,631			1,498		1,904		1,923
Telephone / data lines		318		325			285		293		299
Occupancy expense		1,824		1,775			1,755		1,896		1,876
Furniture and equipment expense		605		571			561		585		556
Marketing expense		456		685			449		707		785
Legal and professional fees		874		949			796		1,114		1,122
FDIC assessments		713		720			717		697		695
Amortization of intangibles		195		197			195		195		196
Other		2,203		2,512			2,153		2,428		2,018
Total Core Operating Expense		18,091		19,080			18,069		18,937		18,836
Severance and organizational changes		24		10			33		84		839
Branch consolidation		0		0			0		407		232
Recovery of prior legal fees		0		(650	)		0		0		(500	)
Net loss on OREO and repossessed assets		229		493			567		157		561
Asset dispositions expense		159		111			290		200		364
Total		18,503	$	19,044		$	18,959	$	19,785	$	20,332

Over the past year, we redeployed overhead savings into additional loan production personnel and new digital products while simultaneously reducing overall operating expenses. We believe the investments are particularly important components of our growth over the last twelve months. Annual salaries and benefits added to our lending and credit support teams during each of the past two years and YTD for 2013 are presented in the table below:

Annual Salaries and Benefits Added to Lending and Credit Support Teams

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	Year to
	Date		Year-end
(Dollars in thousands)	2013		2012		2011		Total
Loan production and support personnel:
Commercial	$	553	$	2,065	$	527
Residential		65		396		248
	$	618	$	2,461	$	775	$	3,854

As shown in the table below, total loan originations and pipeline balances have been growing over the prior four quarters and totaled over $88 million for the third quarter 2013 as a result of the investments in revenue producing personnel in 2011 and 2012. Also included in the table below, are the salaries and benefits associated with new commercial loan officers and credit support personnel with tenures of six months or less for each quarter of 2013 and the last two quarters of 2012. These costs are included in core operating expenses, are significant and are considered investments that impact our efficiency in the short run.

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	Third		Second		First		Fourth		Third
	Quarter		Quarter		Quarter		Quarter		Quarter 2012
(Dollars in thousands)	2013		2013		2012		2012
Commercial pipeline	$	54,600	$	46,850	$	63,842	$	26,809	$	45,769
Commercial loans closed		32,988		68,388		36,973		49,190		24,628
Total loan originations and pipeline	$	87,588	$	115,238	$	100,815	$	75,999	$	70,397
Salaries and benefits, lenders and support personnel < six months	$	553	$	585	$	538	$	345	$	332
Total revenues, excluding securities gains and loss on sale of commercial Loan	$	22,902	$	22,449	$	21,931	$	21,817	$	21,631

Our successful customer growth strategy has included investments in enhancing the customer experience by more conveniently providing customer access to their accounts through digital technologies. Nearly forty percent of our online customers have adopted our mobile product offerings and mobile users grew by over 92 percent annualized in third quarter 2013. The investments have included the addition of 24 new products to our digital product suite. We believe these investments in digital delivery and products have contributed to increasing core customer funding (10.4 percent CAGR since 2010) and fee revenues which increased 15.9 percent during the first nine months of 2013 compared to 2012. We are building a more integrated distribution system which will allow us to continue to reduce our fixed costs in the future as a result of the new investments designed to better serve our customers.

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The Company’s tier 1 capital ratio was 16.1 percent and the total risk based capital ratio was 17.3 percent at September 30, 2013. The tangible common equity ratio was 7.35 percent at September 30, 2013, reflecting the reversal of the deferred tax valuation allowance. Our improved earnings and lower credit risk permitted recovery of the allowance.

The Company will host a conference call on Monday, October 28, 2013 at 10:00 a.m. (Eastern Time) to discuss its earnings results and business trends.  Investors may call in (toll-free) by dialing (888) 517-2458 (access code: 7789246; leader: Dennis S. Hudson).  Charts will be used during the conference call and may be accessed at Seacoast’s website atwww.seacoastbanking.net by selecting “Presentations” under the heading “Investor Services”.  A replay of the conference call will be available beginning the afternoon of October 28 by dialing (888) 843-7419 (domestic), using the passcode 7789246.

Alternatively, individuals may listen to the live webcast of the presentation by visiting the Company’s website atwww.seacoastbanking.net.  The link to the live audio webcast is located in the subsection “Presentations” under the heading “Investor Services”.  Beginning the afternoon of October 28, 2013, an archived version of the webcast can be accessed from this same subsection of the website.  This webcast will be archived and available for one year. 

With over $2.1 billion in assets, 34 traditional branches and offering business banking loan and deposit products and services in 5 Accelerate offices fueled by the power of Seacoast National Bank, Seacoast is one of the largest community banks headquartered in Florida. Offices stretch from Broward County north through the Treasure Coast and into Orlando, and west to Okeechobee and surrounding counties.

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Cautionary Notice Regarding Forward-Looking Statements

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

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.

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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, 2012 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 athttp://www.sec.gov.

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

(Dollars in thousands, except share data)	Three Months Ended									Nine Months Ended
	September 30,			June 30,			September 30,			September 30,			September 30,
	2013			2013			2012			2013			2012
Summary of Earnings
Net income (loss)	$	45,867		$	2,954		$	447		$	50,865		$	(950	)
Net income available to common shareholders (loss)		44,930			2,017			(490	)		48,054			(3,761	)
Net interest income  (1)		16,872			16,172			15,995			49,099			48,736
Net interest margin  (1), (2)		3.25			3.12			3.17			3.17			3.22
Performance Ratios
Return on average assets-GAAP basis (2), (3), (5)		8.45	%		0.54	%		0.08	%		3.14	%		(0.06	)%
Return on average shareholders' equity-GAAP basis (2), (3)		108.27			7.19			1.09			41.16			(0.76	)
Return on average tangible common shareholders' equity-GAAP basis (2), (3), (4), (5)		155.25			7.53			0.11			59.68			(0.04	)
Efficiency ratio (6)		78.05			81.05			88.64			80.16			89.21
Noninterest income to total revenue		26.58			28.22			26.25			27.28			24.57
Per Share Data
Net income (loss) diluted-GAAP basis	$	0.47		$	0.02		$	(0.01	)	$	0.51		$	(0.04	)
Net income (loss) basic-GAAP basis		0.48			0.02			(0.01	)		0.51			(0.04	)
Book value per share common		1.63			1.18			1.25			1.63			1.25
Tangible book value per share		2.15			1.70			1.75			2.15			1.75
Tangible common book value per share (4)		1.62			1.17			1.23			1.62			1.23
Cash dividends declared		0.00			0.00			0.00			0.00			0.00

(1) Calculated on a fully taxable equivalent basis using amortized cost.

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

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

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

(5) Excluding the income tax benefit related to the reversal of the valuation allowance for deferred tax assets and reflecting tax provisioning of $1,805 for the third quarter 2013 and $3.752 for year-to-date 2013, adjusted return on average assets for these periods was 0.53 percent and 0.37 percent, respectively, and adjusted return on average shareholders' equity was 6.78 percent and 4.81 percent, respectively.

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

FINANCIAL  HIGHLIGHTS

SEACOAST  BANKING  CORPORATION  OF  FLORIDA  AND  SUBSIDIARIES

	September 30,			June 30,			September 30,
(Dollars in thousands, except share data)	2013			2013			2012
Selected Financial Data
Total assets	$	2,150,503		$	2,183,680		$	2,081,693
Securities available for sale (at fair value)		650,445			672,809			588,248
Securities held for investment (at amortized cost)		0			0			15,556
Net loans		1,243,676			1,245,815			1,179,359
Deposits		1,698,910			1,738,609			1,679,466
Total shareholders' equity		204,584			161,248			167,209
Common shareholders' equity		154,901			111,878			118,775
Average Balances (Year-to-Date)
Total average assets	$	2,167,077		$	2,173,810		$	2,118,784
Less: intangible assets		1,202			1,299			1,988
Total average tangible assets	$	2,165,875		$	2,172,511		$	2,116,796
Total average equity	$	165,226		$	163,776		$	166,066
Less: intangible assets		1,202			1,299			1,988
Total average tangible equity	$	164,024		$	162,477		$	164,078
Credit Analysis
Net charge-offs year-to-date	$	2,840		$	3,544		$	12,106
Net charge-offs to average loans (annualized)		0.30	%		0.57	%		1.32	%
Loan loss provision year-to-date	$	1,518		$	1,518		$	9,660
Allowance to loans at end of period		1.64	%		1.59	%		1.92	%
Nonperforming loans	$	28,724		$	33,266		$	44,450
Other real estate owned		5,589			10,063			8,888
Total nonperforming assets	$	34,313		$	43,329		$	53,338
Restructured loans (accruing)	$	25,509		$	29,612		$	44,179
Nonperforming loans to loans at end of period		2.27	%		2.63	%		4.40	%
Nonperforming assets to total assets		1.60	%		1.98	%		2.56	%

CONDENSED CONSOLIDATED STATEMENTS OF INCOME	(Unaudited)	10/22/13
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands, except per share data)	2013			2012			2013			2012
Interest on securities:
Taxable	$	3,212		$	3,190		$	9,404		$	10,834
Nontaxable		17			21			52			68
Interest and fees on loans		14,756			14,371			43,047			43,852
Interest on federal funds sold and other investments		192			243			644			727
Total Interest Income		18,177			17,825			53,147			55,481
Interest on deposits		187			380			586			1,247
Interest on time certificates		470			738			1,503			3,371
Interest on borrowed money		705			755			2,129			2,262
Total Interest Expense		1,362			1,873			4,218			6,880
Net Interest Income		16,815			15,952			48,929			48,601
Provision for loan losses		0			900			1,518			9,660
Net Interest Income After Provision for Loan Losses		16,815			15,052			47,411			38,941
Noninterest income:
Service charges on deposit accounts		1,741			1,620			4,933			4,568
Trust income		667			550			2,018			1,687
Mortgage banking fees		1,075			1,155			3,445			2,680
Brokerage commissions and fees		383			247			1,170			779
Marine finance fees		283			279			974			853
Interchange income		1,358			1,119			4,010			3,344
Other deposit based EFT fees		77			70			262			253
Other		503			639			1,541			1,671
		6,087			5,679			18,353			15,835
Securities gains, net		280			48			419			7,037
Total Noninterest Income		6,367			5,727			18,772			22,872
Noninterest expenses:
Salaries and wages		7,557			8,103			22,929			22,593
Employee benefits		1,713			1,924			5,759			5,850
Outsourced data processing costs		1,657			1,923			4,786			5,478
Telephone / data lines		318			299			928			885
Occupancy		1,824			2,080			5,354			5,905
Furniture and equipment		605			570			1,737			1,672
Marketing		456			785			1,590			2,388
Legal and professional fees		874			714			1,969			4,127
FDIC assessments		713			695			2,150			2,108
Amortization of intangibles		195			196			587			593
Asset dispositions expense		159			364			560			1,259
Net loss on other real estate owned and repossessed assets		229			561			1,289			3,310
Other		2,203			2,118			6,868			6,595
Total Noninterest Expenses		18,503			20,332			56,506			62,763
Income Before Income Taxes		4,679			447			9,677			(950	)
Income taxes (benefit)		(41,188	)		0			(41,188	)		0
Net Income		45,867			447			50,865			(950	)
Preferred stock dividends and accretion on preferred stock discount		937			937			2,811			2,811
Net Income Available to Common Shareholders	$	44,930		$	(490	)	$	48,054		$	(3,761	)
Per share of common stock:
Net income diluted	$	0.47		$	(0.01	)	$	0.51		$	(0.04	)
Net income basic		0.48			(0.01	)		0.51			(0.04	)
Cash dividends declared		0.00			0.00			0.00			0.00
Average diluted shares outstanding		95,490,153			94,481,997			94,936,042			94,443,215
Average basic shares outstanding		94,029,583			93,777,662			93,983,629			93,688,003

CONDENSED CONSOLIDATED BALANCE SHEETS	(Unaudited)	10/22/13
SEACOAST  BANKING  CORPORATION  OF  FLORIDA  AND  SUBSIDIARIES

	September 30,			December 31,			September 30,
(Dollars in thousands, except share data)	2013			2012			2012
Assets
Cash and due from banks	$	36,977		$	45,620		$	30,935
Interest bearing deposits with other banks		71,374			129,367			141,783
Total  Cash and Cash Equivalents		108,351			174,987			172,718
Securities:
Available for sale (at fair value)		650,445			643,050			588,248
Held for investment (at amortized cost)		0			13,818			15,556
Total Securities		650,445			656,868			603,804
Loans available for sale		14,322			36,021			28,042
Loans, net of deferred costs		1,264,458			1,226,081			1,202,478
Less: Allowance for loan losses		(20,782	)		(22,104	)		(23,119	)
Net Loans		1,243,676			1,203,977			1,179,359
Bank premises and equipment, net		34,651			34,465			34,884
Other real estate owned		5,589			11,887			8,888
Other intangible assets		914			1,501			1,697
Other assets		92,555			54,223			52,301
	$	2,150,503		$	2,173,929		$	2,081,693
Liabilities and Shareholders' Equity
Liabilities
Deposits
Demand deposits (noninterest bearing)	$	452,949		$	422,833		$	409,145
NOW		440,869			509,371			420,477
Savings deposits		187,181			164,956			158,208
Money market accounts		334,678			343,915			348,275
Other time certificates		160,695			182,495			192,297
Brokered time certificates		11,323			8,203			8,429
Time certificates of $100,000 or more		111,215			127,188			142,635
Total Deposits		1,698,910			1,758,961			1,679,466
Federal funds purchased and securities sold under agreements to repurchase, maturing within 30 days		134,338			136,803			122,393
Borrowed funds		50,000			50,000			50,000
Subordinated debt		53,610			53,610			53,610
Other liabilities		9,061			9,009			9,015
		1,945,919			2,008,383			1,914,484
Shareholders' Equity
Preferred stock - Series A		49,683			48,746			48,434
Common stock		9,492			9,484			9,481
Additional paid in capital		222,987			222,851			222,744
Accumulated deficit		(70,557	)		(118,611	)		(117,914	)
Treasury stock		(11	)		(62	)		(101	)
		211,594			162,408			162,644
Accumulated other comprehensive gain (loss), net		(7,010	)		3,138			4,565
Total Shareholders' Equity		204,584			165,546			167,209
	$	2,150,503		$	2,173,929		$	2,081,693
Common Shares Outstanding		94,911,529			94,837,170			94,810,684

Note: The balance sheet at December 31, 2012 has been derived from the audited financial statements at that date.

CONSOLIDATED QUARTERLY FINANCIAL  DATA	(Unaudited)	10/22/13
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	QUARTERS
	2013									2012
(Dollars in thousands, except per share data)	Third			Second			First			Fourth			Third
Net income (loss)	$	45,867		$	2,954		$	2,044		$	240		$	447
Operating Ratios
Return on average assets-GAAP basis (2),(3),(4)		8.45	%		0.54	%		0.38	%		0.05	%		0.08	%
Return on average tangible assets (2),(3)		8.48			0.57			0.41			0.07			0.11
Return on average shareholders' equity-GAAP basis (2),(3),(4)		108.27			7.19			5.09			0.58			1.09
Efficiency ratio (5)		78.05			81.05			81.45			87.97			88.64
Noninterest income to total revenue		26.58			28.22			27.04			25.71			26.25
Net interest margin (1),(2)		3.25			3.12			3.15			3.22			3.17
Average equity to average assets		7.80			7.56			7.50			7.73			7.77
Credit Analysis
Net charge-offs (recoveries)	$	(704	)	$	2,027		$	1,517		$	2,151		$	2,416
Net charge-offs to average loans (recoveries)		(0.22	)%		0.64	%		0.49	%		0.69	%		0.79	%
Loan loss provision	$	0		$	565		$	953		$	1,136		$	900
Allowance to loans at end of period		1.64	%		1.59	%		1.76	%		1.80	%		1.92	%
Restructured loans (accruing)	$	25,509			29,612			41,170			41,946			44,179
Nonperforming loans	$	28,724			33,266			35,208			40,955			44,450
Other real estate owned		5,589			10,063			10,850			11,887			8,888
Nonperforming assets	$	34,313		$	43,329		$	46,058		$	52,842		$	53,338
Nonperforming loans to loans at end of period		2.27	%		2.63	%		2.88	%		3.34	%		3.70	%
Nonperforming assets to total assets		1.60			1.98			2.09			2.43			2.56
Per Share Common Stock
Net income (loss) diluted-GAAP basis	$	0.47		$	0.02		$	0.01		$	(0.01	)	$	(0.01	)
Net income (loss) basic-GAAP basis		0.48			0.02			0.01			(0.01	)		(0.01	)
Cash dividends declared		0.00			0.00			0.00			0.00			0.00
Book value per share common		1.63			1.18			1.24			1.23			1.25
Average Balances
Total average assets	$	2,153,830		$	2,178,242		$	2,169,329		$	2,111,986		$	2,096,694
Less: Intangible assets		1,009			1,205			1,395			1,596			1,793
Total average tangible assets	$	2,152,821		$	2,177,038		$	2,167,934		$	2,110,390		$	2,094,901
Total average equity	$	168,078		$	164,747		$	162,795		$	163,341		$	162,902
Less: Intangible assets		1,009			1,205			1,395			1,596			1,793
Total average tangible equity	$	167,069		$	163,541		$	161,400		$	161,745		$	161,109

(1) Calculated on a fully taxable equivalent basis using amortized cost.

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

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

(4) Excluding the income tax benefit related to the reversal of the valuation allowance for deferred tax assets and reflecting tax provisioning of $1,805 for the third quarter 2013, adjusted return on average assets and adjusted return on average shareholders' equity was 0.53 percent and 6.78 percent, respectively.

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

	September 30,		December 31,		September 30,
SECURITIES	2013		2012		2012
U.S. Treasury and U.S. Government Agencies	$	101	$	1,707	$	1,711
Mortgage-backed		611,128		640,445		585,632
Collateralized loan obligations		32,334		0		0
Obligations of states and political subdivisions		6,882		898		905
Other securities		0		0		0
Securities Available for Sale		650,445		643,050		588,248
Mortgage-backed		0		5,965		7,397
Obligations of states and political subdivisions		0		6,353		6,659
Other securities		0		1,500		1,500
Securities Held for Investment (1)		0		13,818		15,556
Total Securities	$	650,445	$	656,868	$	603,804

(1) Securities Held for Investment were transferred to Securities Available for Sale for more options to manage interest rate risk prospectively.

	September 30,		December 31,		September 30,
LOANS	2013		2012		2012
Construction and land development	$	62,766	$	60,736	$	56,213
Real estate mortgage		1,083,192		1,056,159		1,036,224
Installment loans to individuals		47,231		46,930		51,564
Commercial and financial		70,779		61,903		58,222
Other loans		490		353		255
Total Loans	$	1,264,458	$	1,226,081	$	1,202,478

AVERAGE BALANCES	(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	QUARTER															Percent Change vs.
	2013									2012						2nd Qtr			3rd Qtr
(Dollars in thousands)	Third			Second			First			Fourth			Third			2013			2012
Assets
Earning assets:
Securities:
Taxable	$	664,103		$	639,769		$	646,184		$	604,412		$	572,328			3.8	%		16.0	%
Nontaxable		1,560			1,647			1,666			1,670			1,972			(5.3	)		(20.9	)
Total Securities		665,663			641,416			647,850			606,082			574,300			3.8			15.9
Federal funds sold and other investments		113,798			168,740			172,505			162,599			209,461			(32.6	)		(45.7	)
Loans,  net		1,278,391			1,269,789			1,247,666			1,241,711			1,223,313			0.7			4.5
Total Earning Assets		2,057,852			2,079,945			2,068,021			2,010,392			2,007,074			(1.1	)		2.5
Allowance for loan losses		(20,206	)		(21,515	)		(22,018	)		(23,820	)		(24,807	)		(6.1	)		(18.5	)
Cash and due from banks		35,810			34,279			34,706			39,321			29,227			4.5			22.5
Premises and equipment		34,834			35,121			34,516			34,566			35,003			(0.8	)		(0.5	)
Other assets		45,540			50,413			54,104			51,527			50,197			(9.7	)		(9.3	)
	$	2,153,830		$	2,178,242		$	2,169,329		$	2,111,986		$	2,096,694			(1.1	)		2.7
Liabilities and Shareholders' Equity
Interest-bearing liabilities:
NOW	$	447,350		$	461,005		$	474,915		$	449,476		$	419,007			(3.0	)%		6.8	%
Savings deposits		185,918			180,915			170,502			161,156			157,577			2.8			18.0
Money market accounts		336,229			339,058			341,833			346,089			350,213			(0.8	)		(4.0	)
Time deposits		289,408			302,110			311,945			330,556			358,504			(4.2	)		(19.3	)
Federal funds purchased and other short term borrowings		157,607			159,847			160,600			131,628			140,932			(1.4	)		11.8
Other borrowings		103,610			103,610			103,610			103,610			103,610			0.0			0.0
Total Interest-Bearing Liabilities		1,520,122			1,546,545			1,563,405			1,522,515			1,529,843			(1.7	)		(0.6	)
Demand deposits (noninterest-bearing)		454,642			455,525			433,757			416,482			394,467			(0.2	)		15.3
Other liabilities		10,988			11,426			9,372			9,648			9,482			(3.8	)		15.9
Total Liabilities		1,985,750			2,013,496			2,006,534			1,948,645			1,933,792			(1.4	)		2.7
Shareholders' equity		168,078			164,747			162,795			163,341			162,902			2.0			3.2
	$	2,153,830		$	2,178,242		$	2,169,329		$	2,111,986		$	2,096,694			(1.1	)		2.7

AVERAGE YIELDS / RATES  (1)	(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	QUARTER
	2013									2012
(Dollars in thousands)	Third			Second			First			Fourth			Third
Assets
Earning assets:
Securities:
Taxable		1.93	%		1.88	%		1.97	%		2.07	%		2.23	%
Nontaxable		6.67			6.55			6.37			4.31			6.49
Total Securities		1.95			1.89			1.98			2.08			2.24
Federal funds sold and other investments		0.67			0.53			0.54			0.55			0.46
Loans,  net		4.59			4.52			4.57			4.64			4.68
Total Earning Assets		3.52			3.39			3.43			3.53			3.54
Liabilities and Shareholders' Equity
Interest-bearing liabilities:
NOW		0.08			0.09			0.10			0.11			0.15
Savings deposits		0.05			0.05			0.06			0.09			0.11
Money market accounts		0.08			0.08			0.08			0.13			0.21
Time deposits		0.64			0.67			0.69			0.72			0.82
Federal funds purchased and other short term borrowings		0.17			0.18			0.21			0.23			0.24
Other borrowings		2.44			2.45			2.48			2.50			2.57
Total Interest-Bearing Liabilities		0.36			0.36			0.38			0.42			0.49
Interest expense as a % of earning assets		0.26			0.27			0.29			0.32			0.37
Net interest income as a % of earning assets		3.25			3.12			3.15			3.22			3.17

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

INTEREST INCOME / EXPENSE(1)	(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	QUARTER										Percent Change vs.
	2013						2012				2nd Qtr			3rd Qtr
(Dollars in thousands)	Third		Second		First		Fourth		Third		2013			2012
Assets
Earning assets:
Securities:
Taxable	$	3,212	$	3,008	$	3,184	$	3,130	$	3,190		6.8	%		0.7	%
Nontaxable		26		27		27		19		32		(3.7	)		(18.8	)
Total Securities		3,238		3,035		3,211		3,149		3,222		6.7			0.5
Federal funds sold and other investments		192		224		228		226		243		14.3			(21.0	)
Loans,  net		14,804		14,312		14,073		14,477		14,403		3.4			2.8	��
Total Earning Assets		18,234		17,571		17,512		17,852		17,868		3.8			2.0
Liabilities and Shareholders' Equity
Interest-bearing liabilities:
NOW		93		100		112		128		156		(7.0	)		(40.4	)
Savings deposits		25		24		26		36		42		4.2			(40.5	)
Money market accounts		69		67		70		111		182		3.0			(62.1	)
Time deposits		470		501		532		598		738		(6.2	)		(36.3	)
Federal funds purchased and other short term borrowings		68		73		83		75		86		(6.8	)		(20.9	)
Other borrowings		637		634		634		650		669		0.5			(4.8	)
Total Interest-Bearing Liabilities		1,362		1,399		1,457		1,598		1,873		(2.6	)		(27.3	)
Net interest income		16,872		16,172		16,055		16,254		15,995		4.3			5.5

(1) On a fully taxable equivalent basis. Fees on loans have been included in interest on loans

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

	2013						2012
(Dollars in thousands)	Third Quarter		Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Customer Relationship Funding (Period End)
Demand deposits (noninterest bearing)
Commercial	$	254,373	$	260,325	$	246,849	$	232,413	$	220,225
Retail		155,281		163,551		167,516		153,428		156,329
Public funds		27,002		29,487		26,166		21,799		16,103
Other		16,293		15,154		12,613		15,193		16,488
		452,949		468,517		453,144		422,833		409,145
NOW accounts
Commercial		35,029		35,714		39,303		32,701		33,083
Retail		305,055		308,390		307,545		308,633		296,078
Public funds		100,785		108,965		136,065		168,037		91,316
		440,869		453,069		482,913		509,371		420,477
Total Transaction Accounts
Commercial		289,402		296,039		286,152		265,114		253,308
Retail		460,336		471,941		475,061		462,061		452,407
Public funds		127,787		138,452		162,231		189,836		107,419
Other		16,293		15,154		12,613		15,193		16,488
		893,818		921,586		936,057		932,204		829,622
Savings accounts		187,181		184,219		177,213		164,956		158,208
Money market accounts
Commercial		107,767		109,938		111,580		114,965		122,485
Retail		217,176		216,370		220,555		220,601		216,775
Public funds		9,735		9,639		9,081		8,349		9,015
		334,678		335,947		341,216		343,915		348,275
Time certificates of deposit		283,233		296,857		307,678		317,886		343,361
Total Deposits	$	1,698,910	$	1,738,609	$	1,762,164	$	1,758,961	$	1,679,466
Sweep repurchase agreements	$	134,338	$	160,934	$	161,678	$	136,803	$	122,393
Total core customer funding (1)	$	1,550,015	$	1,602,686	$	1,616,164	$	1,577,878	$	1,458,498

(1) Total deposits and sweep repurchase agreements, excluding certificates of deposits.

QUARTERLY TRENDS - LOANS AT END OF PERIOD (Dollars in Millions)	(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	2013						2012
	3rd Qtr		2nd Qtr		1st Qtr		4th Qtr		3rd Qtr		2nd Qtr		1st Qtr
Installment loans to individuals
Automobile and trucks	$	7.1	$	7.5	$	7.8	$	7.8	$	8.0	$	8.1	$	8.2
Marine loans		21.3		16.7		15.4		18.4		23.0		20.8		21.1
Other		18.8		20.1		20.0		20.7		20.6		21.3		21.5
		47.2		44.3		43.2		46.9		51.6		50.2		50.8
Construction and land development to individuals
Lot loans		14.7		15.5		16.6		16.7		16.4		17.6		18.4
Construction		19.7		20.7		20.8		22.2		18.9		16.6		13.5
		34.4		36.2		37.4		38.9		35.3		34.2		31.9
Residential real estate
Adjustable		378.4		372.6		365.8		361.0		353.7		359.4		341.6
Fixed rate		94.7		97.5		98.2		99.0		99.7		95.4		96.2
Home equity mortgages		61.8		62.2		61.3		58.0		58.4		58.3		59.5
Home equity lines		47.7		49.1		49.3		51.4		50.6		50.8		53.0
		582.6		581.4		574.6		569.4		562.4		563.9		550.3
TOTAL CONSUMER		664.2		661.9		655.2		655.2		649.3		648.3		633.0
Commercial & financial		70.8		65.2		64.8		61.9		58.2		56.2		54.6
Construction and land development for commercial
Residential
Single family land and lots		4.9		5.0		4.9		5.6		5.8		5.9		6.0
Multifamily		3.8		3.9		3.9		4.3		4.6		4.7		4.9
		8.7		8.9		8.8		9.9		10.4		10.6		10.9
Commercial
Office buildings		1.6		1.6		1.1		-		-		-		0.3
Retail trade		1.8		1.8		-		-		-		-		-
Land		7.3		7.2		7.8		9.6		9.8		10.7		9.2
Healthcare		4.7		2.9		3.3		1.8		-		-		-
Churches and educational facilities		4.0		2.5		1.2		0.5		0.7		0.3		0.3
Lodging		0.3		-		-		-		-		-		-
Convenience stores		-		-		-		-		-		1.4		1.4
		19.7		16.0		13.4		11.9		10.5		12.4		11.2
Total construction and land development		28.4		24.9		22.2		21.8		20.9		23.0		22.1
Commercial real estate
Office buildings		118.2		112.0		112.5		104.7		102.4		113.4		118.0
Retail trade		128.9		135.5		122.2		126.7		121.1		128.5		139.3
Industrial		81.2		83.3		73.4		72.6		71.3		72.0		70.0
Healthcare		38.8		42.1		39.4		40.7		35.8		42.0		40.2
Churches and educational facilities		24.2		26.4		26.9		28.6		26.2		26.7		27.0
Recreation		2.5		2.6		2.6		2.7		2.7		3.1		3.1
Multifamily		6.2		9.5		8.5		9.0		7.8		8.3		8.8
Mobile home parks		1.9		1.9		2.0		2.0		2.1		2.1		2.1
Lodging		17.3		17.5		18.0		18.7		19.1		19.3		19.4
Restaurant		3.8		3.5		3.6		3.5		4.4		4.7		4.6
Agricultural		7.2		7.1		5.9		6.1		7.3		7.4		7.6
Convenience stores		21.0		20.2		20.2		20.5		16.6		15.4		15.5
Marina		21.5		20.9		21.1		21.2		21.4		21.5		21.6
Other		27.9		31.1		25.1		29.8		35.6		29.3		29.3
		500.6		513.6		481.4		486.8		473.8		493.7		506.5
TOTAL COMMERCIAL		599.8		603.7		568.4		570.5		552.9		572.9		583.2
Other		0.5		0.3		0.2		0.4		0.3		0.2		0.2
	$	1,264.5	$	1,265.9	$	1,223.8	$	1,226.1	$	1,202.5	$	1,221.4	$	1,216.4

QUARTERLY TRENDS - INCREASE (DECREASE) IN LOANS BY QUARTER (Dollars in Millions)	(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	2013									2012
	3rd Qtr			2nd Qtr			1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr
Installment loans to individuals
Automobile and trucks	$	(0.4	)	$	(0.3	)	$	-		$	(0.2	)	$	(0.1	)	$	(0.1	)	$	(0.5	)
Marine loans		4.6			1.3			(3.0	)		(4.6	)		2.2			(0.3	)		1.2
Other		(1.3	)		0.1			(0.7	)		0.1			(0.7	)		(0.2	)		(0.5	)
		2.9			1.1			(3.7	)		(4.7	)		1.4			(0.6	)		0.2
Construction and land development to individuals
Lot loans		(0.8	)		(1.1	)		(0.1	)		0.3			(1.2	)		(0.8	)		0.5
Construction		(1.0	)		(0.1	)		(1.4	)		3.3			2.3			3.1			4.8
		(1.8	)		(1.2	)		(1.5	)		3.6			1.1			2.3			5.3
Residential real estate
Adjustable		5.8			6.8			4.8			7.3			(5.7	)		17.8			7.5
Fixed rate		(2.8	)		(0.7	)		(0.8	)		(0.7	)		4.3			(0.8	)		(0.8	)
Home equity mortgages		(0.4	)		0.9			3.3			(0.4	)		0.1			(1.2	)		(0.7	)
Home equity lines		(1.4	)		(0.2	)		(2.1	)		0.8			(0.2	)		(2.2	)		(1.9	)
		1.2			6.8			5.2			7.0			(1.5	)		13.6			4.1
TOTAL CONSUMER		2.3			6.7			0.0			5.9			1.0			15.3			9.6
Commercial & financial		5.6			0.4			2.9			3.7			2.0			1.6			1.5
Construction and land development for commercial
Residential
Single family land and lots		(0.1	)		0.1			(0.7	)		(0.2	)		(0.1	)		(0.1	)		(0.2	)
Multifamily		(0.1	)		-			(0.4	)		(0.3	)		(0.1	)		(0.2	)		(0.2	)
		(0.2	)		0.1			(1.1	)		(0.5	)		(0.2	)		(0.3	)		(0.4	)
Commercial
Office buildings		-			0.5			1.1			-			-			(0.3	)		0.1
Retail trade		-			1.8			-			-			-			-			-
Land		0.1			(0.6	)		(1.8	)		(0.2	)		(0.9	)		1.5			(0.1	)
Healthcare		1.8			(0.4	)		1.5			1.8			-			-			-
Churches and educational facilities		1.5			1.3			0.7			(0.2	)		0.4			-			0.2
Lodging		0.3			-			-			-			-			-			-
Convenience stores		-			-			-			-			(1.4	)		-			(0.3	)
		3.7			2.6			1.5			1.4			(1.9	)		1.2			(0.1	)
Total construction and land development		3.5			2.7			0.4			0.9			(2.1	)		0.9			(0.5	)
Commercial real estate
Office buildings		6.2			(0.5	)		7.8			2.3			(11.0	)		(4.6	)		(1.6	)
Retail trade		(6.6	)		13.3			(4.5	)		5.6			(7.4	)		(10.8	)		(1.3	)
Industrial		(2.1	)		9.9			0.8			1.3			(0.7	)		2.0			(0.7	)
Healthcare		(3.3	)		2.7			(1.3	)		4.9			(6.2	)		1.8			1.4
Churches and educational facilities		(2.2	)		(0.5	)		(1.7	)		2.4			(0.5	)		(0.3	)		(0.4	)
Recreation		(0.1	)		-			(0.1	)		-			(0.4	)		-			(0.1	)
Multifamily		(3.3	)		1.0			(0.5	)		1.2			(0.5	)		(0.5	)		(0.6	)
Mobile home parks		-			(0.1	)		-			(0.1	)		-			-			(0.1	)
Lodging		(0.2	)		(0.5	)		(0.7	)		(0.4	)		(0.2	)		(0.1	)		(0.2	)
Restaurant		0.3			(0.1	)		0.1			(0.9	)		(0.3	)		0.1			(0.1	)
Agricultural		0.1			1.2			(0.2	)		(1.2	)		(0.1	)		(0.2	)		(1.2	)
Convenience stores		0.8			-			(0.3	)		3.9			1.2			(0.1	)		0.4
Marina		0.6			(0.2	)		(0.1	)		(0.2	)		(0.1	)		(0.1	)		0.3
Other		(3.2	)		6.0			(4.7	)		(5.8	)		6.3			-			2.3
		(13.0	)		32.2			(5.4	)		13.0			(19.9	)		(12.8	)		(1.9	)
TOTAL COMMERCIAL		(3.9	)		35.3			(2.1	)		17.6			(20.0	)		(10.3	)		(0.9	)
Other		0.2			0.1			(0.2	)		0.1			0.1			-			(0.4	)
	$	(1.4	)	$	42.1		$	(2.3	)	$	23.6		$	(18.9	)	$	5.0		$	8.3