About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida (Seacoast) operates as a financial holding company. The company’s principal subsidiary is Seacoast National Bank, a wholly-owned national banking association (‘Seacoast Bank’). Seacoast has grown to be one of the largest regional banks headquartered in Florida, with an expanding presence in the state's fastest growing markets, each of which has unique characteristics and opportunities. The company provides integrated financial services, including commercial and retail banking, wealth management, mortgage and insurance services to customers through advanced online and mobile banking solutions, and through Seacoast Bank's network of 77 traditional branches. The company’s legal structure includes wholly-owned subsidiaries through which the company manages investments and foreclosed properties. Through one of these subsidiaries, Seacoast Bank has a controlling interest in a real estate investment trust (‘REIT’). Unrelated investors own a non-controlling interest in the preferred stock of the REIT. Seacoast Bank provides brokerage and annuity services through an affiliation with a third party broker/dealer, LPL Financial. Seacoast Insurance Services, Inc. and Nature Coast Insurance, Inc., each a wholly-owned subsidiary of Seacoast, facilitate access for the company to provide customers with a range of insurance products. The company also operates seven trusts, formed for the purpose of issuing trust preferred securities. Markets In January 2023, Seacoast completed the acquisition of Professional Holding Corp. (‘Professional’), which further expanded Seacoast’s presence in the tri-county South Florida market, which includes Miami-Dade, Broward, and Palm Beach counties, Florida’s largest metropolitan statistical area (‘MSA’) and the 8th largest MSA in the nation. In 2022, Seacoast completed the acquisitions of Sabal Palm Bancorp, Inc. (‘Sabal Palm’), creating a presence in the desirable Sarasota market, Business Bank of Florida Corp. (‘BBFC’), supporting continued growth in Brevard County, Drummond Banking Company (‘Drummond’) expanding the footprint into North Florida, including Ocala and Gainesville, and Apollo Bancshares, Inc. (‘Apollo’), adding presence in Miami-Dade county. Also in the past two years, Seacoast entered the Naples and Jacksonville markets. Loan Portfolio As of December 31, 2023, the company’s loan portfolio included construction and land development loans; commercial real estate loans - owner occupied; commercial real estate loans - non-owner occupied; residential real estate loans; commercial and financial loans; and consumer loans. Deposits As of December 31, 2023, the company’s deposits included noninterest demand deposits; interest-bearing demand deposits; money market deposits; savings deposits; other time deposits; brokered time certificates; and time certificates of more than $250,000. Investment Securities As of December 31, 2023, the company’s investment securities included U.S. Treasury securities and obligations of U.S. government agencies; residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities; commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities; private mortgage-backed securities and collateralized mortgage obligations; collateralized loan obligations; obligations of state and political subdivisions; and other debt securities. Supervision and Regulation The company is registered as a bank holding company with the FRB under the Bank Holding Company Act of 1956, as amended (the ‘BHC Act’) and has elected to be a financial holding company. As such, the company is subject to comprehensive supervision and regulation by the Federal Reserve and to its regulatory reporting requirements. The company and Seacoast Bank must each remain ‘well-capitalized’ and ‘well-managed’ and Seacoast Bank must receive a Community Reinvestment Act (‘CRA’) rating of at least ‘Satisfactory’ at its most recent examination in order for the company to maintain its status as a financial holding company. Under the Change in Bank Control Act and the regulations thereunder, a person or group must give advance notice to the FRB before acquiring control of any bank holding company, such as Seacoast, and the OCC before acquiring control of any national bank, such as Seacoast Bank. Seacoast is required to comply with various corporate governance and financial reporting requirements under the Sarbanes-Oxley Act of 2002, as well as rules and regulations adopted by the Securities and Exchange Commission (the ‘SEC’), the Public Company Accounting Oversight Board (the ‘PCAOB’), and the NASDAQ Global Select Market (‘NASDAQ’) stock exchange. In particular, the company is required to include management and independent registered public accounting firm reports on internal controls as part of its Annual Report on Form 10-K in order to comply with Section 404 of the Sarbanes-Oxley Act. The company has evaluated its controls, including compliance with the SEC rules on internal controls, and has and expects to continue to spend significant amounts of time and money on compliance with these rules. As a national bank, Seacoast Bank is subject to comprehensive supervision and regulation by the OCC and is subject to its regulatory reporting requirements. Additionally, Seacoast Bank also is subject to certain FRB and FDIC regulations. As of January 1, 2023, Seacoast Bank, meets the definition of a ‘large institution’ and is subject to direct supervision by the Consumer Financial Protection Bureau (‘CFPB’) for compliance with a wide range of consumer compliance laws, and for assessment of the effectiveness of the Bank's compliance management system. Seacoast Bank’s deposits are insured by the FDIC’s DIF up to the limits under applicable law, which are set at $250,000 per depositor, per insured bank, for each account ownership category. Seacoast Bank is subject to FDIC assessments for its deposit insurance. Title III of the USA PATRIOT Act requires that regulated banks such as Seacoast Bank: (i) establish an anti-money laundering program that includes training and audit components; (ii) comply with regulations regarding the verification of the identity of any person seeking to open an account; (iii) take additional required precautions with non-U.S. owned accounts; and (iv) perform certain verification and certification of money laundering risk for their foreign correspondent banking relationships. Seacoast Bank is subject to the provisions of the Community Reinvestment Act (‘CRA’), which imposes a continuing and affirmative obligation, consistent with safe and sound operation, to help meet the credit needs of entire communities where the bank accepts deposits, including low- and moderate-income neighborhoods. The OCC’s assessment of Seacoast Bank’s CRA record is made available to the public. Seacoast Bank is also subject to, among other things, the provisions of the Equal Credit Opportunity Act (the ‘ECOA’) and the Fair Housing Act (the ‘FHA’), both of which prohibit discrimination based on race or color, religion, national origin, sex, and familial status in any aspect of a consumer or commercial credit or residential real estate transaction. History Seacoast Banking Corporation of Florida was founded in 1926. The company was incorporated in Florida in 1983.