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

EXHIBIT 99.1
To Form 8-K dated April 21, 2010

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 RESULTS FOR
FIRST QUARTER 2010

–
–
– Nonperforming loans declined by 15.3%
Capital levels strengthened with an April 2010 stock offering
Core deposits increased by 4.4% annualized during the quarter

–Net charge-offs declined to $3.5 million compared to $45.2 million in the fourth quarter

STUART, FL., April 21, 2010 – Seacoast Banking Corporation of Florida (NASDAQ-NMS: SBCF), a bank holding company whose principal subsidiary is Seacoast National Bank, today reported a first quarter 2010 net loss of $1.6 million compared with a net loss of $38.1 million in the fourth quarter of 2009 and a net loss of $4.8 million a year earlier. Including preferred stock dividends and accretion of preferred stock discount of $937,000, the net loss applicable to common shareholders was $2.5 million or $0.04 per average common diluted share for the first quarter, compared to a net loss of $39.1 million or $0.73 per average common diluted share in the fourth quarter and a net loss of $5.7 million or $0.30 per average common diluted share for the first quarter of 2009.

“First quarter results reflect a second consecutive quarter of reduced levels of problem loans and a gradually improving economy,” said Dennis S. Hudson, III, Chairman and Chief Executive Officer. “In addition, delinquency trends show continued stability and credit costs have declined, with much lower net charge-offs and the absence of large additions to the allowance for loan losses. We are further encouraged by continued positive core customer deposit growth and its impact on the net interest margin.” Immediately following the end of the first quarter, the Company completed a successful private placement of convertible preferred stock with total gross proceeds of $50 million. With the added capital, the Company has strengthened its already strong capital ratios, placing it as the most well-capitalized bank of its size in the State of Florida.

Total revenues were up 3.1 percent to $23.9 million for the first quarter 2010 compared to the first quarter 2009. Excluding investment securities gains, revenues totaled $21.8 million for the quarter ended March 31, 2010, or $1.4 million lower compared to the same period a year ago.

Other items impacting financial results for the first quarter 2010 include:

• Net interest margin increased to 3.48 percent, up 4 basis points from the first quarter 2009 and 11 basis points higher than last quarter;

• Net interest income totaled $17.2 million, a decline of $231,000 over the prior quarter;

• The provision for loan losses totaled $2.1 million, a decline of $9.6 million from a year ago and $39.4 million lower than the fourth quarter 2009;

• The allowance for loan losses decreased slightly from 3.23 percent of total loans for the fourth quarter to 3.18 percent of total loans in the first quarter;

• Nonperforming assets decreased approximately $7.9 million to 5.44 percent of total assets compared to the fourth quarter and declined $6.7 million lower than a year earlier;

• Residential construction and development loan portfolio exposure was reduced to $41.1 million or 3.0 percent of total loans;

• Total deposits, excluding brokered certificates of deposits, totaled $1.7 billion and were nearly unchanged from the normal seasonally high fourth quarter 2009;

• Core deposits (excludes certificates of deposits > $100,000) increased 4.4 percent annualized, and noninterest bearing demand increased 14.0 percent annualized during the first quarter;

• The cost of interest bearing liabilities totaled 1.25 percent, 13 basis points lower than the fourth quarter 2009 and 80 basis points lower than first quarter 2009;

• Tangible common equity ratio increased to 6.9 percent proforma after the public offering of stock in April 2010 from 5.09 percent as of March 31, 2009; and

• Total risk based capital increased to 15.3 percent or 18.8 percent proforma, reflecting the April 2010 capital offering, up from 14.0 percent as of March 31, 2009.

The tax benefit for the net loss for the first quarter totaled $556,000. The deferred tax valuation allowance was increased by a like amount, and therefore there was no change in the carrying value of deferred tax assets which are supported by tax planning strategies.  Due to limitations on the inclusion of deferred tax assets, regulatory capital ratios are unaffected by the reduced tax benefit for the quarter.  Should the economy continue to improve and our credit losses remain moderate, we believe sometime this year that we could place increased reliance on our forecast of future taxable earnings, which would support realization of the deferred tax assets and increase the Company’s common shareholders’ equity by up to $30 million.

Loan Portfolio Risk Reduction Update

Construction and land development portfolios balances have been significantly reduced. These portfolios have been the primary source of increases in both nonperforming loans and loan losses over the past two years.

Construction
and Land
Development Loans				Dec. 30, 2008			Mar. 31, 2009			June 30, 2009
Dollars in millions	High Point
Residential	$	351.6	3/31/2007	$	129.9		$	117.2		$	96.7
Commercial		242.4	12/31/2007		209.3			201.4			166.8
Individuals		91.3	12/31/2006		56.0			50.2			44.2
TOTAL		627.0	9/30/2007	$	395.2		$	368.8		$	307.7
Total as a percentage of total loans					23.6	%		22.6	%		19.4	%
Total as a percentage of tier 1
risk-based capital and allowance for
loan losses					164.7	%		154.5	%		133.6	%

Construction and
Land Development
Loans				Sept. 30, 2009			Dec. 31, 2009			Mar 31, 2010
Dollars in millions	High Point
Residential	$	351.6	3/31/2007	$	57.6		$	47.6		$	41.1
Commercial		242.4	12/31/2007		128.7			77.5			72.6
Individuals		91.3	12/31/2006		41.8			37.8			37.6
TOTAL		627.0	9/30/2007	$	228.1		$	162.9		$	151.3
Total as a percentage of total loans					15.2	%		11.7	%		11.0	%
Total as a percentage of tier 1
risk-based capital and allowance for
loan losses					83.6	%		67.8	%		65.5	%

Total construction and land development loans have been reduced to approximately one quarter of that reported at the high point in 2007, and 36 percent of the remaining portfolio is currently classified nonaccrual and is now in the process of liquidation in accordance with specific workout plans designed to achieve substantial liquidation in an orderly fashion over the next year.

Commercial real estate mortgage loans remain well diversified (as shown in the supplemental tables attached). The Company may see further deterioration over time in this portfolio as a result of continuing economic weakness, but we expect a much lower level of loss potential than recently experienced in our construction and land development portfolios.

Problem Loan Management and Loss Mitigation Update

Problem assets declined during the quarter as forecast. This was primarily the result of reduced levels of loans in the stressed categories as discussed above and the smaller size of individual loans that are migrating to nonaccrual. The pace of growth began to moderate last quarter and continued in the first quarter 2010.

Nonaccrual Loans
March 31, 2010

							Restructured
	Nonaccrual Loans						Loans (Accruing)
Dollars in thousands	Non Current		Current*		Total
Construction and Land Development
Residential	$	21,754	$	54	$	21,808	$	4,823
Commercial		29,800		0		29,800		487
Individual		2,468		0		2,468		1,255
Residential Mortgage		8,806		3,297		12,103		14,203
Commercial Real Estate Mortgage		14,557		13,639		28,196		38,827
Commercial and Financial		61		328		389		0
Installment Loans to individuals		151		1,406		1,557		437
TOTAL	$	77,597	$	18,724	$	96,321	$	60,032

*Loans classified as nonaccrual (including restructured loans) and less than 31 days past due.

Other real estate owned (“OREO”) declined by $6.3 million to $19.1 million, reflecting a migration of a number of commercial and residential properties through the final foreclosure process, offset by sales and liquidations for the quarter. OREO is expected to increase over the next few quarters as final liquidation and resolution of many of the nonaccrual loans are concluded.

Net interest income (on a tax equivalent basis) was $17.3 million, nearly unchanged ($17.5 million) from the fourth quarter 2009. The lower deposit costs and lower rates paid on all interest bearing liabilities were offset by lower yields on investments and loans.

Noninterest income, totaled $6.7 million, down slightly linked quarter, primarily due to lower gains on security sales and fewer days in the first quarter compared to the fourth quarter. Revenue increased for debit card and other EFT transactions, attributable to increases in the number of customers served and greater transactions. However, service charges on deposits have trended lower as a result of lower overdraft fees, as customers have increased their savings and balances during the recession. In addition, wealth management fees continue to be impacted by the challenging economic conditions. Marine finance fees were up $111,000 over the fourth quarter, the result of numerous boat shows and some increased demand as is typical in the seasonally best quarter for production.

Mortgage banking revenues were unchanged this quarter compared to the fourth quarter 2009. A total of 259 applications were accepted in the first quarter 2010 for total loans of $52 million. Closed mortgage loans totaled $33 million for the quarter, down $5 million from the first quarter 2009. A total of $22 million in residential mortgage loans were sold in the first quarter of 2010, and the remainder retained.

Noninterest expenses for the first quarter totaled $23.4 million, up by $2.5 million compared to the fourth quarter 2009. The increase was primarily due to higher foreclosed and repossessed asset disposition and management activities and employee benefit costs, which are higher in the first and second quarters each year as a result of payroll taxes, and unemployment and health insurance costs. Salaries, wages and benefits for the first quarter 2010 declined $430,000 or 5.0 percent from a year ago, largely due to last year’s consolidation of branches and centralization of management by combining markets. Cost reductions were also achieved in backroom areas, with expenditures for data processing, communications, occupancy, and furniture and equipment all declining compared to the prior year. Costs associated with foreclosed and repossessed asset disposition and management activities increased by $1.8 million compared to the fourth quarter 2009 and $3.6 million compared to a year earlier. Also increasing this quarter compared to a year earlier were FDIC assessments, as well as legal and professional fees related to risk management and strategic planning, and credit and collection related activities. Management has been focused and aggressive in resolving troubled loans and are confident that early identification and action will lead to lower future costs as exposures are reduced.

The Company’s retail core deposit focus has produced strong growth in core deposit customer relationships and has resulted in increased balances, which offset planned run-off in brokered certificates of deposit in the first quarter 2010. The improved deposit mix and lower rates paid on deposits during the first quarter reduced the overall cost of total deposits to 1.03 percent, 12 basis points lower than in the fourth quarter 2009 and 76 basis points below last year’s first quarter.

Total deposits, excluding brokered certificates of deposits at March 31, 2010, totaled $1.7 billion and were nearly unchanged compared to year-end 2009 total deposits. The average cost of interest bearing deposits, excluding certificates of deposits, during the first quarter was 0.59 percent, down 2 basis points from the fourth quarter and 52 basis points from first quarter 2009. Certificates of deposits rates paid were also lower compared to the fourth quarter and totaled 2.06 percent during the first quarter of 2009, a decline of 14 basis points compared to the fourth quarter.

Total deposits, excluding brokered certificates at March 31, 2010, declined $7 million compared to the prior year. The decline in deposits resulted from management’s decision not to retain higher rate certificates of deposits, which declined $90 million and were partially replaced with lower cost new core deposits. As previously reported, the Company has experienced strong growth in core deposit customer relationships since implementing its new deposit growth strategy. A total of 1,900 new core households were added in the first quarter 2010, up 8.4 percent compared to the fourth quarter 2009. This compares to 1,874 in the first quarter 2009. These new relationships have improved market share and increased average services per household.

Seacoast will host a conference call on Thursday, April 22, 2010 at 10:00 a.m. (Eastern Time) to discuss the earnings results and business trends. Investors may call in (toll-free) by dialing (888) 517-2458 (access code: 5785075; 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 call will be available for one month, beginning the afternoon of April 22, 2010, by dialing (877) 213-9653 (domestic), using the passcode 5785075.

Alternatively, individuals may listen to the live webcast of the presentation by visiting Seacoast’s website atwww.seacoastbanking.net. The link is located in the subsection “Presentations” under the heading “Investor Services”. Beginning the afternoon of April 22, 2010, an archived version of the webcast can be accessed from this same subsection of the website, and will be available for one year.

Seacoast Banking Corporation of Florida has approximately $2.1 billion in assets. It is one of the largest independent commercial banking organizations in Florida, headquartered on Florida’s Treasure Coast, one of the wealthiest and fastest growing areas in the nation.

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.

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, 2009 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.

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

	Three Months Ended
(Dollars in thousands,	March 31,
except per share data)	2010					2009
Summary of Earnings
Net loss	$	(1,564	)	$			(4,760	)
Net loss available to common shareholders		(2,501	)				(5,697	)
Net interest income (1)		17,288					18,241
Performance Ratios
Return on average assets-GAAP basis (2),(3)		(0.30	)		%		(0.83	)%
Return on average tangible assets (2),(3),(4)		(0.26	)				(0.82	)
Return on average shareholders’ equity–GAAP basis (2), (3)		(4.18	)				(8.83	)
Net interest margin (1),(2)		3.48					3.44
Per Share Data
Net loss diluted-GAAP basis	$	(0.04	)	$			(0.30	)
Net loss basic-GAAP basis		(0.04	)				(0.30	)
Cash dividends declared		—					0.01

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

(4) The Company believes that return on average assets and equity excluding the impacts of noncash amortization expense on intangible assets is a better measurement of the Company’s trend in earnings growth.

FINANCIAL HIGHLIGHTS (cont’d)		(Unaudited)
SEACOAST BANKING	CORPORATION OF FLORIDA AND		SUBSIDIARIES
			March 31,						Increase/
(Dollars in thousands, except per share data)			2010			2009			(Decrease)
Credit Analysis
Net charge-offs year-to-date			$	3,541		$	8,540			(58.5	)	%
Net charge-offs to average loans				1.03	%		2.07	%		(50.2	)
Loan loss provision year-to-date			$	2,068		$	11,652			(82.2	)
Allowance to loans at end of period				3.18	%		1.99	%		59.8
Nonperforming loans			$	96,321		$	109,381			(11.9	)
Other real estate owned				19,076			12,684			50.4
Total nonperforming assets			$	115,397		$	122,065			(5.5	)
Restructured loans (accruing)			$	60,032		$	3,309			1,714.2
Nonperforming assets to loans and other real estate owned at
end of period				8.29	%		7.42	%		11.7
Nonperforming assets to total assets				5.44	%		5.29	%		3.0
Selected Financial Data
Total assets			$	2,119,966		$	2,308,933			(8.2	)
Securities – available for sale (at fair value)				365,986			349,181			4.8
Securities – held for investment (at amortized cost)				10,228			26,655			(61.6	)
Net loans				1,329,559			1,600,077			(16.9	)
Deposits				1,759,433			1,814,308			(3.0	)
Total shareholders’ equity				151,183			213,706			(29.3	)
Common shareholders’ equity				105,872			169,606			(37.6	)
Book value per share common				1.80			8.86			(79.7	)
Tangible book value per share				2.50			8.29			(69.8	)
Tangible common book value per share (5)				1.73			5.99			(71.1	)
Average shareholders’ equity to average assets				7.13	%		9.45	%		(24.6	)
Tangible common equity to tangible assets (5), (6)				4.82			5.09			(5.3	)
Average Balances (Year-to-Date)
Total assets			$	2,127,074		$	2,313,125			(8.0	)
Less: intangible assets				3,969			55,033			(92.8	)
Total average tangible assets			$	2,123,105		$	2,258,092			(6.0	)
Total equity			$	151,731		$	218,609			(30.6	)
Less: intangible assets				3,969			55,033			(92.8	)
Total average tangible equity			$	147,762		$	163,576			(9.7	)

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

(4) The Company believes that return on average assets and equity excluding the impacts of noncash amortization expense on intangible assets is a better measurement of the Company’s trend in earnings growth.

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

(6) The ratio of tangible common equity to tangible assets is a non-GAAP ratio used by the investment community to measure capital adequacy.

n/m = not meaningful

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	Three Months Ended
	March 31,
(Dollars in thousands, except per share data)		2010				2009
Interest on securities:
Taxable	$		3,727		$		3,920
Nontaxable			69				84
Interest and fees on loans			18,377			23,160
Interest on federal funds sold and other investments			239				148
Total Interest Income			22,412			27,312
Interest on deposits			1,241				2,229
Interest on time certificates			3,226				5,758
Interest on borrowed money			732				1,151
Total Interest Expense			5,199				9,138
Net Interest Income			17,213			18,174
Provision for loan losses			2,068			11,652
Net Interest Income After Provision for Loan Losses		15,145					6,522
Noninterest income:
Service charges on deposit accounts			1,372				1,585
Trust income			476				558
Mortgage banking fees			421				499
Brokerage commissions and fees			286				381
Marine finance fees			339				345
Debit card income			717				608
Other deposit based EFT fees			93				94
Merchant income			465				536
Other			391				376
			4,560				4,982
Securities gains			2,100				—
Total Noninterest Income			6,660				4,982
Noninterest expenses:
Salaries and wages			6,462				6,888
Employee benefits			1,778				1,782
Outsourced data processing costs			1,876				1,891
Telephone / data lines			399				484
Occupancy expense			1,942				2,154
Furniture and equipment expense			609				651
Marketing expense			656				488
Legal and professional fees			2,101				1,392
FDIC assessments			1,006				877
Amortization of intangibles			315				315
Net loss on other real estate owned and other
asset dispositions			4,073				502
Other expense			2,152				1,911
Total Noninterest Expenses			23,369			19,335
Loss Before Income Taxes	(1,564)					(7,831)
Benefit for income taxes			0			(3,071)
Net Loss	(1,564)					(4,760)
Preferred stock dividends and accretion on preferred stock discount			937				937
Net Loss Available to Common
Shareholders	$(2,501)				$	(5,697)
Per share of common stock:
Net loss diluted	$(0.04)				$	(0.30)
Net loss basic			(0.04	)		(0.30)
Cash dividends declared			—				0.01
Average diluted shares outstanding	58,845,822					19,069,437
Average basic shares outstanding	58,845,822					19,069,437

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	March 31,			December 31,			March 31,
(Dollars in thousands, except share amounts)	2010			2009			2009
Assets
Cash and due from banks	$	58,153		$	32,200		$	39,260
Federal funds sold		0			0			4,919
Interest bearing deposits with other banks		216,550			182,900			105,312
Total Cash and Cash Equivalents		274,703			215,100			149,491
Securities:
Available for sale (at fair value)		365,986			393,648			349,181
Held for investment (at amortized cost)		10,228			17,087			26,655
Total Securities		376,214			410,735			375,836
Loans available for sale		3,609			18,412			8,196
Loans, net of unearned income		1,373,278			1,397,503			1,632,577
Less: allowance for loan losses		(43,719	)		(45,192	)		(32,500	)
Net Loans		1,329,559			1,352,311			1,600,077
Bank premises and equipment, net		38,409			38,932			43,685
Other real estate owned		19,076			25,385			12,684
Goodwill and other intangible assets		3,806			4,121			54,879
Other assets		74,590			86,319			64,085
	$	2,119,966		$	2,151,315		$	2,308,933
Liabilities and Shareholders’ Equity
Liabilities
Deposits
Demand deposits (noninterest bearing)	$	278,205		$	268,789		$	281,809
Savings deposits		865,909			838,288			827,251
Other time deposits		304,807			326,070			335,251
Brokered time deposits		24,640			38,656			72,872
Time certificates of $100,000 or more		285,872			307,631			297,125
Total Deposits		1,759,433			1,779,434			1,814,308
Federal funds purchased and securities sold under agreements to repurchase, maturing within 30 days		95,708			105,673			152,947
Borrowed funds		50,000			50,000			65,239
Subordinated debt		53,610			53,610			53,610
Other liabilities		10,032			10,663			9,123
		1,968,783			1,999,380			2,095,227
Shareholders’ Equity
Preferred stock		45,311			44,999			44,100
Common stock		5,891			5,887			1,915
Additional paid in capital		177,842			178,096			100,005
Retained earnings (deficit)		(80,076	)		(78,200	)		64,625
Treasury stock		(437	)		(855	)		(1,824	)
		148,531			149,927			208,821
Accumulated other comprehensive gain, net		2,652			2,008			4,885
Total Shareholders’ Equity		151,183			151,935			213,706
	$	2,119,966		$	2,151,315		$	2,308,933
Common Shares Outstanding		58,913,722			58,867,229			19,149,828

Note: The balance sheet at December 31, 2009 has been derived from the audited financial statements at that date.

CONSOLIDATED QUARTERLY FINANCIAL DATA (Unaudited)

SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	Quarters
		2009
(Dollars in thousands, except			Fourth				Third					Second
per share data)
Net loss			$(38,149)					$	(40,777	)		$	(63,000	)
Operating Ratios
Return on average assets-GAAP basis (2),(3)				(6.91	)	%			(7.55	)	%		(11.19	)%
Return on average tangible assets (2),(3),(4)				(6.89	)				(7.53	)			(2.36	)
Return on average shareholders’
equity- GAAP basis (2),(3)			(84.51)						(86.49	)			(119.80	)
Net interest margin (1),(2)				3.37					3.74				3.65
Average equity to average assets				8.18					8.73				9.34
Credit Analysis
Net charge-offs			$45,172					$	40,142			$	15,109
Net charge-offs to average loans				12.12		%			10.14		%		3.71	%
Loan loss provision			$41,514					$	45,374			$	26,227
Allowance to loans at end of period				3.23		%			3.25		%		2.75	%
Restructured Loans (accruing)			$57,433					$	16,061			$	14,789
Nonperforming loans			$97,876					$	153,981			$	126,758
Other real estate owned				25,385					26,819				23,259
Nonperforming assets			$123,261					$	180,800			$	150,017
Nonperforming assets to loans and other real estate owned at end of period				8.66		%			11.80		%		9.33	%
Nonperforming assets to total assets				5.73					8.45				6.86
Nonaccrual loans and accruing loans 90 days or more past due to loans outstanding at end of period				7.01					10.23				8.09
Per Share Common Stock
Net loss diluted-GAAP basis			$(0.73)					$	(1.21	)		$	(3.35	)
Net loss basic-GAAP basis				(0.73	)				(1.21	)			(3.35	)
Cash dividends declared				0.00					0.00				0.00
Book value per share common				1.82					2.57				8.03
Average Balances
Total assets			$2,189,699					$	2,142,228			$	2,258,792
Less: Intangible assets				4,274					4,590				54,717
Total average tangible assets			$2,185,425					$	2,137,638			$	2,204,075
Total equity			$179,093					$	187,057			$	210,997
Less: Intangible assets				4,274					4,590				54,717
Total average tangible equity			$174,819					$	182,467			$	156,280

(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 calculations of ROA and ROE do not include the mark-to-market unrealized gains (losses) because the unrealized gains (losses) on available for sale securities are not included in net income (loss).

(4) The Company believes that return on average assets and equity excluding the impacts of noncash amortization expense on intangible assets is a better measurement of the Company’s trend in earnings growth.

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

	2010				Last 12
(Dollars in thousands, except per share data)	First				Months
Net loss	$		(1,564)		$	(143,490	)
Operating Ratios
Return on average assets-GAAP basis (2),(3)		(0.30	)	%		(6.58	)	%
Return on average tangible assets (2),(3),(4)		(0.26	)			(4.29	)
Return on average shareholders’ equity- GAAP basis (2),(3)		(4.18	)			(78.71	)
Net interest margin (1),(2)		3.48				3.56
Average equity to average assets		7.13				8.36
Credit Analysis
Net charge-offs	$	3,541			$	103,964
Net charge-offs to average loans		1.03		%		6.84		%
Loan loss provision	$	2,068				115,183
Allowance to loans at end of period		3.18		%
Restructured Loans (accruing)	$	60,032
Nonperforming loans		96,321
Other real estate owned		19,076
Nonperforming assets	$	115,397
Nonperforming assets to loans and other real estate owned at
end of period		8.29		%
Nonperforming assets to total assets		5.44
Nonaccrual loans and accruing loans 90 days or more past due
to loans outstanding at end of period		7.03
Per Share Common Stock
Net loss diluted-GAAP basis	$		(0.04)		$		(3.54)
Net loss basic-GAAP basis		(0.04	)			(3.54	)
Cash dividends declared		0.00				0.00
Book value per share common		1.80
Average Balances
Total assets	$	2,127,074
Less: Intangible assets		3,969
Total average tangible assets	$	2,123,105
Total equity	$	151,731
Less: Intangible assets		3,969
Total average tangible equity	$	147,762

(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 calculations of ROA and ROE do not include the mark-to-market unrealized gains (losses) because the unrealized gains (losses) on available for sale securities are not included in net income (loss).

(4) The Company believes that return on average assets and equity excluding the impacts of noncash amortization expense on intangible assets is a better measurement of the Company’s trend in earnings growth.

CONSOLIDATED QUARTERLY FINANCIAL DATA (Unaudited) (continued)

SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

(Dollars in thousands)

	March 31,			December 31,				March 31,
SECURITIES	2010			2009				2009
U.S. Treasury and U.S. Government Agencies	$	4,192	$		3,688	$			21,143
Mortgage-backed		356,693			384,864				322,787
Obligations of states and political subdivisions		2,066			2,063				2,046
Other securities		3,035			3,033				3,205
Securities Available for Sale		365,986			393,648				349,181
Mortgage-backed		5,996			12,853				21,033
Obligations of states and political subdivisions		4,232			4,234				5,622
Securities Held for Investment		10,228			17,087				26,655
Total Securities	$	376,214	$		410,735	$			375,836
	March 31,		December 31,					March 31,
LOANS		2010			2009				2009
Construction and land development	$	151,257	$	162,868				$	368,832
Real estate mortgage		1,098,274		1,109,077					1,116,616
Installment loans to individuals		61,422					64,024		71,440
Commercial and financial		62,134					61,058		75,448
Other loans		191					476		241
Total Loans	$	1,373,278	$	1,397,503				$	1,632,577

1

2

AVERAGE BALANCES, YIELDS AND RATES (1) (Unaudited)

SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	2010								2009
	First Quarter							Fourth Quarter							First Quarter
	Average			Yield/				Average			Yield/				Average			Yield/
(Dollars in thousands)	Balance			Rate				Balance			Rate				Balance			Rate
Assets
Earning assets:
Securities:
Taxable	$	410,694			3.63	%		$368,830				4.19		%	$	351,286			4.46	%
Nontaxable		6,256			6.71					6,393		6.76				7,646			6.59
Total Securities		416,950			3.73					375,223		4.23				358,932			4.51
Federal funds sold and other
investments		205,575			0.47					211,685		0.45				121,633			0.49
Loans, net		1,393,808			5.36			1,478,126				5.18				1,670,353			5.63
Total Earning Assets		2,016,333			4.52			2,065,034				4.51				2,150,918			5.16
Allowance for loan losses		(44,377	)					(41,662)								(31,392	)
Cash and due from banks		30,975								34,553						33,665
Premises and equipment		39,773								41,872						44,128
Other assets		84,370								89,902						115,806
	$	2,127,074						$2,189,699							$	2,313,125
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
NOW	$	53,408			0.41	%			$	53,109		0.52		%	$	53,373			0.57	%
Savings deposits		102,777			0.24					101,005		0.24				99,712			0.56
Money market accounts		693,205			0.66					654,250		0.68				664,946			1.23
Time deposits		635,535			2.06					710,955		2.20				718,008			3.25
Federal funds purchased and other short term borrowings		103,676			0.25					92,466		0.25				154,185			0.49
Other borrowings		103,610			2.61					110,479		2.64				118,894			3.28
Total Interest-Bearing
Liabilities		1,692,211			1.25			1,722,264				1.38				1,809,118			2.05
Demand deposits (noninterest-bearing)		272,122								275,589						274,363
Other liabilities		11,010								12,753						11,035
Total Liabilities		1,975,343						2,010,606								2,094,516
Shareholders’ equity		151,731								179,093						218,609
	$	2,127,074					$	2,189,699					$			2,313,125
Interest expense as a % of earning assets					1.05	%						1.15		%					1.72	%
Net interest income as a % of earning assets					3.48							3.37							3.44

(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.

3

4

QUARTERLY TRENDS – LOANS AT END OF PERIOD					(Unaudited)
(Dollars in Millions)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
						2008
			1st Qtr			2nd Qtr		3rd Qtr		4th Qtr
Construction and Land Development
Residential:
Condominiums		>$4 million	$	30.6		$	26.3	$	19.6	$	8.6
		<$4 million		26.6			21.1		13.0		8.8
Townhomes		>$4 million		19.4			17.1		17.1		-
		<$4 million		4.4			2.9		4.6		6.1
Single Family
Residences		>$4 million		20.8			21.2		13.5		11.9
		<$4 million		35.9			28.3		23.7		14.9
Single Family Land
& Lots		>$4 million		85.1			64.3		40.3		22.1
		<$4 million		27.0			30.8		29.9		30.7
Multifamily		>$4 million		7.8			7.8		7.8		7.8
		<$4 million		24.8			26.2		22.9		19.0
	TOTAL	>$4 million		163.7			136.7		98.3		50.4
	TOTAL	<$4 million		118.7			109.3		94.1		79.5
	GRAND TOTAL		$	282.4		$	246.0	$	192.4	$	129.9

5

6

QUARTERLY TRENDS – LOANS AT END OF PERIOD (Unaudited)

(Dollars in Millions)

SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

			2009
		1st Qtr	2nd Qtr		3rd Qtr		4th Qtr
Construction and Land Development
Residential:
Condominiums	>$4 million	$8.4	$	7.9	$	5.3	$	—
	<$4 million	7.9		8.8		3.7		6.1
Townhomes	>$4 million	—		—		—		—
	<$4 million	4.2		2.3		—		—
Single Family	Residences	>$4 million		6.6		6.5		—	—
	<$4 million	13.9		10.3		7.1		4.1
Single Family Land	& Lots	>$4 million		21.8		21.8		5.9	5.9
	<$4 million	29.6		21.5		19.5		16.6
Multifamily	>$4 million	7.8		7.8		6.6		6.6
	<$4 million	17.0		9.8		9.5		8.3
TOTAL	>$4 million	44.6		44.0		17.8		12.5
TOTAL	<$4 million	72.6		52.7		39.8		35.1
GRAND TOTAL		$117.2	$	96.7	$	57.6	$	47.6

7

8

QUARTERLY TRENDS – LOANS AT END OF PERIOD (Unaudited)

(Dollars in Millions)

SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

		2010		Nonperforming
		1st Qtr		1st Qtr		Number
Construction and Land Development
Residential:
Condominiums	>$4 million	$—		$	—		—
	<$4 million	0.9			0.9		1
Townhomes	>$4 million	—			—		—
	<$4 million	—			—		—
Single Family	Residences	>$4 million	—				—	—
	<$4 million	3.9			0.6		5
Single Family Land	& Lots	>$4 million	5.9				5.9	1
	<$4 million	15.7			4.9		16
Multifamily	>$4 million	6.6			6.6		1
	<$4 million	8.1			2.9		4
TOTAL	>$4 million	12.5			12.5		2
TOTAL	<$4 million	28.6			9.3		26
GRAND TOTAL		$41.1		$	21.8		28

9

10

QUARTERLY TRENDS – LOANS AT END OF PERIOD (Unaudited)

(Dollars in Millions)

SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	2008
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr
Construction and land development
Residential
Condominiums	$	57.2	$	47.4	$	32.6	$	17.4
Townhomes		23.8		20.0		21.7		6.1
Single family residences		56.7		49.5		37.2		26.8
Single family land and lots		112.1		95.1		70.2		52.8
Multifamily		32.6		34.0		30.7		26.8
		282.4		246.0		192.4		129.9
Commercial
Office buildings		29.1		31.1		27.8		17.3
Retail trade		60.4		63.6		68.5		68.7
Land		92.5		75.4		73.9		73.3
Industrial		16.9		20.8		20.7		13.3
Healthcare		1.0		1.0		—		—
Churches and educational facilities		—		0.1		—		—
Lodging		—		—		—		—
Convenience stores		1.8		—		—		—
Marina		26.8		28.9		30.5		30.7
Other		11.3		6.3		5.4		6.0
		239.8		227.2		226.8		209.3
Individuals
Lot loans		39.4		40.0		38.4		35.7
Construction		32.4		27.1		27.4		20.3
		71.8		67.1		65.8		56.0
Total construction and land development		594.0		540.3		485.0		395.2
Real estate mortgages
Residential real estate
Adjustable		317.6		318.8		316.5		329.0
Fixed rate		89.1		90.2		93.4		95.5
Home equity mortgages		91.7		93.1		84.3		84.8
Home equity lines		56.3		59.4		59.7		58.5
		554.7		561.5		553.9		567.8
Commercial real estate
Office buildings		144.3		142.3		143.6		146.4
Retail trade		83.8		93.5		101.6		111.9
Land		—		—		0.6		—
Industrial		104.3		93.3		92.2		94.7
Healthcare		39.9		33.6		31.6		29.2
Churches and educational facilities		40.2		36.5		35.6		35.2
Recreation		2.8		1.8		1.8		1.7
Multifamily		20.0		19.1		19.2		27.2
Mobile home parks		3.2		3.1		3.1		3.0
Lodging		27.9		28.0		26.7		26.6
Restaurant		8.0		9.0		8.6		6.2
Agricultural		12.4		9.0		8.7		8.5
Convenience stores		23.1		24.9		23.6		23.5
Other		40.1		41.6		42.5		43.6
		550.0		535.7		539.4		557.7
Total real estate mortgages		1,104.7		1,097.2		1,093.3		1,125.5
Commercial & financial		93.9		94.8		88.5		82.8
Installment loans to individuals
Automobile and trucks		24.1		23.0		21.9		20.8
Marine loans		33.3		25.2		26.0		26.0
Other		27.5		27.9		27.4		26.1
		84.9		76.1		75.3		72.9
Other		0.5		0.4		0.5		0.3
	$	1,878.0	$	1,808.8	$	1,742.6	$	1,676.7

11

12

QUARTERLY TRENDS – LOANS AT END OF PERIOD (continued) (Unaudited)

(Dollars in Millions)

SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	2009								2010
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		1st Qtr
Construction and land development
Residential
Condominiums	$	16.3	$	16.8	$	9.0	$	6.1	$	0.9
Townhomes		4.2		2.3		—		—		—
Single family residences		20.5		16.7		7.1		4.1		3.9
Single family land and lots		51.4		43.3		25.4		22.6		21.6
Multifamily		24.8		17.6		16.1		14.8		14.7
		117.2		96.7		57.6		47.6		41.1
Commercial
Office buildings		17.4		13.8		13.8		13.9		13.7
Retail trade		70.0		55.9		23.0		3.9		3.9
Land		60.9		51.2		50.8		45.6		45.7
Industrial		9.0		8.5		8.2		2.5		2.5
Healthcare		5.7		6.0		4.8		4.8		—
Churches and educational facilities		—		—		—		—		—
Lodging		0.6		—		—		—		—
Convenience stores		—		—		—		—		—
Marina		31.6		30.0		28.1		6.8		6.8
Other		6.2		1.4		—		—		—
		201.4		166.8		128.7		77.5		72.6
Individuals
Lot loans		34.0		32.4		30.7		29.3		28.9
Construction		16.2		11.8		11.1		8.5		8.7
		50.2		44.2		41.8		37.8		37.6
Total construction and land development		368.8		307.7		228.1		162.9		151.3
Real estate mortgages
Residential real estate
Adjustable		333.1		328.0		325.9		289.4		290.5
Fixed rate		90.8		90.6		89.5		88.6		87.6
Home equity mortgages		85.5		83.8		83.9		86.8		89.1
Home equity lines		60.3		60.1		59.7		60.1		60.1
		569.7		562.5		559.0		524.9		527.3
Commercial real estate
Office buildings		140.6		141.6		144.2		132.3		131.1
Retail trade		109.1		120.0		151.4		164.6		163.5
Land		—		—		—		—		—
Industrial		95.3		93.0		89.3		88.4		81.7
Healthcare		28.3		30.9		25.4		24.7		29.1
Churches and educational facilities		34.8		34.6		30.8		29.6		29.1
Recreation		1.7		1.4		3.3		3.0		3.0
Multifamily		27.2		31.7		35.1		29.7		25.3
Mobile home parks		3.0		5.6		5.6		5.4		5.3
Lodging		26.3		26.3		25.6		25.5		23.5
Restaurant		6.1		5.1		5.0		4.7		4.7
Agricultural		8.2		11.8		12.0		11.7		11.4
Convenience stores		23.3		23.2		22.8		22.1		22.3
Other		43.0		47.6		34.0		42.4		41.0
		546.9		572.8		584.5		584.1		571.0
Total real estate mortgages		1,116.6		1,135.3		1,143.5		1,109.0		1,098.3
Commercial & financial		75.5		71.8		66.0		61.1		62.1
Installment loans to individuals
Automobile and trucks		19.4		18.0		16.6		15.3		14.4
Marine loans		26.3		26.9		26.8		26.4		25.3
Other		25.7		24.3		23.3		22.3		21.7
		71.4		69.2		66.7		64.0		61.4
Other		0.3		0.3		0.3		0.5		0.2
	$	1,632.6	$	1,584.3	$	1,504.6	$	1,397.5	$	1,373.3

13

14

QUARTERLY TRENDS – INCREASE (DECREASE) IN LOANS BY QUARTER (Unaudited)

(Dollars in Millions)

SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	2008
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr
Construction and land development
Residential
Condominiums	$	(3.0	)	$	(9.8	)	$	(14.8	)	$	(15.2	)
Townhomes		(1.2	)		(3.8	)		1.7			(15.6	)
Single family residences		(2.3	)		(7.2	)		(12.3	)		(10.4	)
Single family land and lots		(4.3	)		(17.0	)		(24.9	)		(17.4	)
Multifamily		(1.9	)		1.4			(3.3	)		(3.9	)
		(12.7	)		(36.4	)		(53.6	)		(62.5	)
Commercial
Office buildings		(1.8	)		2.0			(3.3	)		(10.5	)
Retail trade		(8.6	)		3.2			4.9			0.2
Land		9.9			(17.1	)		(1.5	)		(0.6	)
Industrial		3.9			3.9			(0.1	)		(7.4	)
Healthcare		—			—			(1.0	)		—
Churches and educational facilities		—			0.1			(0.1	)		—
Lodging		(11.2	)		—			—			—
Convenience stores		0.1			(1.8	)		—			—
Marina		3.7			2.1			1.6			0.2
Other		1.4			(5.0	)		(0.9	)		0.6
		(2.6	)		(12.6	)		(0.4	)		(17.5	)
Individuals
Lot loans		—			0.6			(1.6	)		(2.7	)
Construction		(0.3	)		(5.3	)		0.3			(7.1	)
		(0.3	)		(4.7	)		(1.3	)		(9.8	)
Total construction and land development		(15.6	)		(53.7	)		(55.3	)		(89.8	)
Real estate mortgages
Residential real estate
Adjustable		(1.9	)		1.2			(2.3	)		12.5
Fixed rate		1.6			1.1			3.2			2.1
Home equity mortgages		0.3			1.4			(8.8	)		0.5
Home equity lines		(2.8	)		3.1			0.3			(1.2	)
		(2.8	)		6.8			(7.6	)		13.9
Commercial real estate
Office buildings		12.6			(2.0	)		1.3			2.8
Retail trade		7.6			9.7			8.1			10.3
Land		(5.3	)		—			0.6			(0.6	)
Industrial		(1.2	)		(11.0	)		(1.1	)		2.5
Healthcare		7.5			(6.3	)		(2.0	)		(2.4	)
Churches and educational facilities		—			(3.7	)		(0.9	)		(0.4	)
Recreation		(0.2	)		(1.0	)		—			(0.1	)
Multifamily		6.2			(0.9	)		0.1			8.0
Mobile home parks		(0.7	)		(0.1	)		—			(0.1	)
Lodging		5.2			0.1			(1.3	)		(0.1	)
Restaurant		(0.2	)		1.0			(0.4	)		(2.4	)
Agricultural		(0.5	)		(3.4	)		(0.3	)		(0.2	)
Convenience stores		(0.1	)		1.8			(1.3	)		(0.1	)
Other		1.8			1.5			0.9			1.1
		32.7			(14.3	)		3.7			18.3
Total real estate mortgages		29.9			(7.5	)		(3.9	)		32.2
Commercial & financial		(32.8	)		0.9			(6.3	)		(5.7	)
Installment loans to individuals
Automobile and trucks		(0.9	)		(1.1	)		(1.1	)		(1.1	)
Marine loans		0.1			(8.1	)		0.8			—
Other		(0.7	)		0.4			(0.5	)		(1.3	)
		(1.5	)		(8.8	)		(0.8	)		(2.4	)
Other		(0.4	)		(0.1	)		0.1			(0.2	)
	$	(20.4	)	$	(69.2	)	$	(66.2	)	$	(65.9	)

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16

QUARTERLY TRENDS – INCREASE (DECREASE) IN LOANS BY QUARTER (cont’d)

(Dollars in Millions) (Unaudited)

SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

				2009									2010
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			1st Qtr
Construction and land development
Residential
Condominiums	$	(1.1	)	$	0.5		$	(7.8	)	$	(2.9	)	$	(5.2	)
Townhomes		(1.9	)		(1.9	)		(2.3	)		—			—
Single family residences		(6.3	)		(3.8	)		(9.6	)		(3.0	)		(0.2	)
Single family land and lots		(1.4	)		(8.1	)		(17.9	)		(2.8	)		(1.0	)
Multifamily		(2.0	)		(7.2	)		(1.5	)		(1.3	)		(0.1	)
		(12.7	)		(20.5	)		(39.1	)		(10.0	)		(6.5	)
Commercial
Office buildings		0.1			(3.6	)		—			0.1			(0.2	)
Retail trade		1.3			(14.1	)		(32.9	)		(19.1	)		—
Land		(12.4	)		(9.7	)		(0.4	)		(5.2	)		0.1
Industrial		(4.3	)		(0.5	)		(0.3	)		(5.7	)		—
Healthcare		5.7			0.3			(1.2	)		—			(4.8	)
Churches and educational facilities		—			—			—			—			—
Lodging		0.6			(0.6	)		—			—			—
Convenience stores		—			—			—			—			—
Marina		0.9			(1.6	)		(1.9	)		(21.3	)		—
Other		0.2			(4.8	)		(1.4	)		—			—
		(7.9	)		(34.6	)		(38.1	)		(51.2	)		(4.9	)
Individuals
Lot loans		(1.7	)		(1.6	)		(1.7	)		(1.4	)		(0.4	)
Construction		(4.1	)		(4.4	)		(0.7	)		(2.6	)		0.2
		(5.8	)		(6.0	)		(2.4	)		(4.0	)		(0.2	)
Total construction and land development		(26.4	)		(61.1	)		(79.6	)		(65.2	)		(11.6	)
Real estate mortgages
Residential real estate
Adjustable		4.1			(5.1	)		(2.1	)		(36.5	)		1.1
Fixed rate		(4.7	)		(0.2	)		(1.1	)		(0.9	)		(1.0	)
Home equity mortgages		0.7			(1.7	)		0.1			2.9			2.3
Home equity lines		1.8			(0.2	)		(0.4	)		0.4			—
		1.9			(7.2	)		(3.5	)		(34.1	)		2.4
Commercial real estate
Office buildings		(5.8	)		1.0			2.6			(11.9	)		(1.2	)
Retail trade		(2.8	)		10.9			31.4			13.2			(1.1	)
Land		—			—			—			—			—
Industrial		0.6			(2.3	)		(3.7	)		(0.9	)		(6.7	)
Healthcare		(0.9	)		2.6			(5.5	)		(0.7	)		4.4
Churches and educational facilities		(0.4	)		(0.2	)		(3.8	)		(1.2	)		(0.5	)
Recreation		—			(0.3	)		1.9			(0.3	)		—
Multifamily		—			4.5			3.4			(5.4	)		(4.4	)
Mobile home parks		—			2.6			—			(0.2	)		(0.1	)
Lodging		(0.3	)		—			(0.7	)		(0.1	)		(2.0	)
Restaurant		(0.1	)		(1.0	)		(0.1	)		(0.3	)		—
Agricultural		(0.3	)		3.6			0.2			(0.3	)		(0.3	)
Convenience stores		(0.2	)		(0.1	)		(0.4	)		(0.7	)		0.2
Other		(0.6	)		4.6			(13.6	)		8.4			(1.4	)
		(10.8	)		25.9			11.7			(0.4	)		(13.1	)
Total real estate mortgages		(8.9	)		18.7			8.2			(34.5	)		(10.7	)
Commercial & financial		(7.3	)		(3.7	)		(5.8	)		(4.9	)		1.0
Installment loans to individuals
Automobile and trucks		(1.4	)		(1.4	)		(1.4	)		(1.3	)		(0.9	)
Marine loans		0.3			0.6			(0.1	)		(0.4	)		(1.1	)
Other		(0.4	)		(1.4	)		(1.0	)		(1.0	)		(0.6	)
		(1.5	)		(2.2	)		(2.5	)		(2.7	)		(2.6	)
Other		—			—			—			0.2			(0.3	)
	$	(44.1	)	$	(48.3	)	$	(79.7	)	$	(107.1	)	$	(24.2	)

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