Seacoast Reports Earnings for the Third Quarter

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"Sales activity for new residential real estate product continued tosoften over the summer months in Florida after improving somewhat earlier inthe year. We have continued to carefully and formally monitor, on a monthlybasis, all credit relationships having exposure to the residential market.This quarter we classified as nonperforming several credit relationships thatare either currently experiencing, or in the near term are likely toexperience, cash flow difficulties. In those instances, we have performed acollateral evaluation (including the potential effects of existing salescontract cancellations) in response to recent changes in the market value forresidential real estate and, as appropriate, have established valuationreserves," said Dennis S. Hudson, III Chairman and Chief Executive Officer ofSeacoast.

Operating results for the quarter, excluding the impact of the provisionfor loan losses, totaled approximately $5.1 million or cash earnings ofapproximately $0.27 per share. Noninterest expenses were impacted by thepreviously announced implementation of expense savings totaling approximately$1.5 million in the quarter, which were offset with higher nonrecurringexpenses totaling approximately $1.0 million related to other professionalfees, severance and employee recruitment costs. The expense reductionsprimarily relate to the elimination of executive bonus compensation for theyear, lower incentive payouts for senior officers and reduced profit-sharingcompensation, all as a result of lower than expected earnings performance.These savings will reduce compensation expense by approximately $500,000 inthe fourth quarter, and will remain in effect until the Company producesmeaningful earnings improvements. Noninterest expenses are expected to totalapproximately $19 million in the fourth quarter. The Company has alsoidentified additional savings totaling approximately $3.5 million annuallythat it intends to implement over the next two quarters involving theconsolidation of branch offices, reductions in staff and a reduction inmarketing costs and other professional fees.

Included in the results for the first nine months was the impact of therestructuring of the Company's investment portfolio; therefore, net income,excluding securities restructuring losses, totaled $11.16 million for the ninemonths of 2007 or $0.58 DEPS.

Net interest income totaled $21.1 million for the quarter, a decline of$321,000 compared with the second quarter of 2007. The decline was primarilydue to increased levels of nonperforming assets. The net interest margindeclined by 15 basis points to 3.94 percent in the third quarter 2007 comparedto the second quarter of 2007, primarily as a result of higher nonperformingassets and increased costs for interest bearing liabilities. Interest bearingdeposit costs increased 10 basis points to 3.69 percent in the third quarter2007, and total interest bearing liabilities increased from 3.79 percent forthe second quarter to 3.88 percent in the third quarter. Since the Fedlowered rates 50 basis points on September 18, 2007, many of the Company'sdeposit products have repriced; therefore, future cost for interest bearingdeposits should improve.

Interest bearing deposits declined $14.4 million over the past year andincreased $4.4 million linked quarter for the three months ended September 30,2007. Noninterest bearing demand deposits declined $15.9 million in the thirdquarter, consistent with past seasonal growth patterns experienced in many ofthe Company's markets, and now comprise 18 percent of total deposits, downfrom 19 percent last quarter. Past growth in deposits related to seasonalimprovements in the fourth and first quarters would suggest improved growthrates compared to the third quarter of 2007.

Total loans outstanding at September 30, 2007 increased 14.3 percentcompared to September 30, 2006. With the addition of the new office inBroward County and increased lenders in the Orlando and Brevard Countymarkets, the Company believes it can continue to grow its loan portfolio byapproximately 10 percent over the next twelve months as a result of theimproved commercial lending capacity. The Broward County market's outstandingloans and deposits at September 30, 2007 totaled $49 million and $13 million,respectively. In addition, the commercial loan pipelines totaled $61 millionfor Broward and $94 million for Brevard/Orlando.

Noninterest income, excluding securities gains and losses, increased 8.0percent when compared to the prior year's third quarter, reflecting increasedrevenues primarily from service charges on deposit accounts and marine financefees. Noninterest income declined by $705,000 or 10.4 percent when comparedwith the second quarter, due to reduced mortgage production and expectedseasonally lower brokerage and marine fees.

Noninterest expenses totaled $19 million, up $140,000 from the prioryear's third quarter. The Company previously announced that it wouldeliminate executive bonuses and lower incentive payouts and reduce profit-sharing as a result of lower earnings performance so far in 2007. These costreductions totaled approximately $1.5 million for the quarter and are expectedto save the Company about $500,000 in the fourth quarter.

Seacoast will host a conference call on Wednesday, October 24 at 10:00a.m. (Eastern Time) to discuss the earnings results and business trends.Investors may call in (toll-free) by dialing (800) 640-9765 (access code:19349003; leader: Dennis S. Hudson). Charts will be used during theconference call and may be accessed at Seacoast's website at by selecting Presentations under the heading InvestorServices. A replay of the call will be available beginning the afternoon ofOctober 24 by dialing (877) 213-9653 (domestic), using the passcode 19349003.

Seacoast Banking Corporation of Florida has approximately $2.3 billion inassets. It is one of the largest independent commercial banking organizationsin Florida, headquartered on Florida's Treasure Coast, one of the wealthiestand fastest growing areas in the nation.

Cautionary Notice Regarding Forward-Looking Statements

This press release contains "forward-looking statements" within themeaning of Section 27A of the Securities Act of 1933 and Section 21E of theSecurities Exchange Act of 1934, including, without limitation, statementsabout future financial and operating results, cost savings, enhanced revenues,economic and seasonal conditions in our markets, and improvements to reportedearnings that may be realized from cost controls and for integration of banksthat we have acquired, as well as statements with respect to Seacoast'sobjectives, expectations and intentions and other statements that are nothistorical facts. Actual results may differ from those set forth in theforward-looking statements.

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

You can identify these forward-looking statements through our use of wordssuch as "may," "will," "anticipate," "assume," "should," "support","indicate," "would," "believe," "contemplate," "expect," "estimate,""continue," "further", "point to," "project," "could," "intend" or othersimilar words and expressions of the future. These forward-looking statementsmay not be realized due to a variety of factors, including, withoutlimitation: the effects of future economic and market conditions, includingseasonality; governmental monetary and fiscal policies, as well as legislativeand regulatory changes; the risks of changes in interest rates on the leveland composition of deposits, loan demand, and the values of loan collateral,securities, and interest sensitive assets and liabilities; interest raterisks, sensitivities and the shape of the yield curve; the effects ofcompetition 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 financialinstitutions operating in our market areas and elsewhere, includinginstitutions operating regionally, nationally and internationally, togetherwith such competitors offering banking products and services by mail,telephone, computer and the Internet; and the failure of assumptionsunderlying the establishment of reserves for possible loan losses. The risksof mergers and acquisitions, include, without limitation: unexpectedtransaction costs, including the costs of integrating operations; the risksthat the businesses will not be integrated successfully or that suchintegration may be more difficult, time-consuming or costly than expected; thepotential failure to fully or timely realize expected revenues and revenuesynergies, including as the result of revenues following the merger beinglower than expected; the risk of deposit and customer attrition; any changesin deposit mix; unexpected operating and other costs, which may differ orchange from expectations; the risks of customer and employee loss and businessdisruption, including, without limitation, as the result of difficulties inmaintaining relationships with employees; increased competitive pressures andsolicitations of customers by competitors; as well as the difficulties andrisks inherent with entering new markets.

All written or oral forward-looking statements attributable to us areexpressly qualified in their entirety by this cautionary notice, including,without limitation, those risks and uncertainties described in our annualreport on Form 10-K for the year ended December 31, 2006 under "SpecialCautionary Notice Regarding Forward-Looking Statements," and otherwise in ourSEC reports and filings. Such reports are available upon request fromSeacoast, or from the Securities and Exchange Commission, including throughthe SEC's Internet website at .

    FINANCIAL HIGHLIGHTS         (Unaudited)    SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES                                    Three Months Ended    Nine Months Ended    (Dollars in thousands,              September 30,        September 30,     except per share data)           2007      2006         2007      2006    Summary of Earnings    Net income                        $ 285    $5,869      $ 7,862  $18,169    Net income, excluding securities     restructuring losses (5)           285     5,869       11,159   18,169    Net interest income (1)          21,147    23,144       64,047   67,448    Performance Ratios    Return on average assets-GAAP     earnings (2), (3)                 0.05%     0.99%        0.45%    1.06%    Return on average tangible     assets (2), (3), (4), (5)         0.09      1.05         0.70     1.11    Return on average shareholders'     equity-GAAP earnings (2), (3)     0.51     11.03         4.79    12.61    Return on average tangible     shareholders' equity (2), (3),     (4), (5)                          1.18     15.64         9.71    17.45    Net interest margin (1), (2)       3.94      4.22         3.99     4.22    Per Share Data    Net income diluted-GAAP earnings $ 0.01     $0.31       $ 0.41    $0.98    Net income basic-GAAP earnings     0.02      0.31         0.41     1.00    Net income diluted-excluding     securities restructuring     losses (5)                        0.01      0.31         0.58     0.98    Net income basic-excluding     securities restructuring     losses (5)                        0.02      0.31         0.59     1.00    Cash dividends declared            0.16      0.15         0.48     0.45                                                   September 30,    Increase/                                                2007         2006   (Decrease)    Credit Analysis    Net charge-offs (recoveries) year-to-date $ 1,307       $ (133)     n/m%    Net charge-offs (recoveries) to average     loans                                       0.10%       (0.01)%    n/m    Loan loss provision year-to-date          $ 8,932      $ 1,035    763.0    Allowance to loans at end of period          1.19%        0.77%    54.5    Nonperforming assets                     $ 45,894     $ 10,437    339.7    Nonperforming assets to loans and other     real estate owned at end of period          2.42%        0.63%   284.1    Selected Financial Data    Total assets                          $ 2,316,779  $ 2,351,297     (1.5)    Securities - Trading (at fair value)       17,955            0      n/m    Securities - Available for sale     (at fair value)                          205,174      345,971    (40.7)    Securities - Held for investment     (at amortized cost)                       32,588      137,197    (76.2)    Net loans                               1,870,574    1,643,368     13.8    Deposits                                1,855,726    1,957,893     (5.2)    Shareholders' equity                      213,880      208,560      2.6    Book value per share                        11.20        10.99      1.9    Tangible book value per share                8.22         8.02      2.6    Average shareholders' equity     to average assets                           9.48%        8.39%    13.0    Average Balances (Year-to-Date)    Total assets                           $2,311,782   $2,295,345      0.7    Less: Intangible assets                    57,138       49,686     15.0    Total average tangible assets          $2,254,644   $2,245,659      0.4    Total equity                             $219,252     $192,647     13.8    Less: Intangible assets                    57,138       49,686     15.0    Total average tangible equity            $162,114     $142,961     13.4    (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) on available for sale securities because the        unrealized gains (losses) are not included in net income.    (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) Excludes securities restructuring losses of $5,118 (or $3,297, net of        taxes) recorded in first quarter 2007.    n/m = not meaningful    CONDENSED CONSOLIDATED STATEMENTS OF INCOME    (Unaudited)    SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES                                   Three Months Ended       Nine Months Ended    (Dollars in thousands,            September 30,           September 30,     except per share data)         2007        2006        2007        2006    Interest on securities:         Taxable                   $3,069      $5,366     $11,374     $16,883         Nontaxable                    88          97         274         206    Interest and fees on loans     34,316      30,730      99,796      82,717    Interest on federal funds     sold and other investments       298         521       1,211       2,874          Total Interest Income    37,771      36,714     112,655     102,680    Interest on deposits            6,261       5,366      17,760      13,542    Interest on time certificates   7,806       5,888      22,085      15,186    Interest on borrowed money      2,645       2,412       8,979       6,693          Total Interest Expense   16,712      13,666      48,824      35,421          Net Interest Income      21,059      23,048      63,831      67,259    Provision for loan losses       8,375         475       8,932       1,035          Net Interest Income           After Provision for           Loan Losses             12,684      22,573      54,899      66,224    Noninterest income:         Service charges on          deposit accounts          1,983       1,866       5,644       4,909         Trust income                 658         691       1,948       2,204         Mortgage banking fees        260         254       1,131         794         Brokerage commissions          and fees                    620         586       2,363       2,404         Marine finance fees          687         478       2,269       2,139         Debit card income            578         563       1,743       1,584         Other deposit based          EFT fees                    101         108         348         307         Merchant income              688         623       2,165       1,921         Other                        444         402       1,340       1,132                                    6,019       5,571      18,951      17,394          Securities           restructuring losses         0           0      (5,118)          0          Securities gains           (losses), net               22           2          46         (84)          Total Noninterest Income  6,041       5,573      13,879      17,310    Noninterest expenses:         Salaries and wages         7,479       7,805      23,828      22,667         Employee benefits          1,700       2,054       5,419       5,623         Outsourced data          processing costs          1,796       1,746       5,697       5,675         Occupancy                  1,928       1,947       5,721       5,542         Furniture and equipment      758         707       2,109       1,834         Marketing                    875         952       2,368       2,795         Legal and          professional fees         1,327         693       3,002       1,929         FDIC assessments              55          66         169         204         Amortization of          intangibles                 315         315         944         755         Other                      2,794       2,602       8,374       7,848          Total Noninterest           Expenses                19,027      18,887      57,631      54,872          Income (Loss) Before           Income Taxes              (302)      9,259      11,147      28,662    Provision for income taxes       (587)      3,390       3,285      10,493          Net Income                 $285      $5,869      $7,862     $18,169    Per share common stock:         Net income diluted         $0.01       $0.31       $0.41       $0.98         Net income basic            0.02        0.31        0.41        1.00         Cash dividends declared     0.16        0.15        0.48        0.45    Average diluted shares     outstanding               19,165,880  19,141,484  19,180,773  18,517,508    Average basic shares     outstanding               18,924,665  18,767,257  18,946,759  18,142,813    CONDENSED CONSOLIDATED BALANCE SHEETS         (Unaudited)    SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES                                      September 30, December 31, September 30,    (Dollars in thousands)                   2007         2006        2006    Assets      Cash and due from banks              $44,680      $89,803     $80,249      Federal funds sold and other       investments                           6,605        2,412      14,096          Total Cash and Cash Equivalents   51,285       92,215      94,345      Securities:        Trading (at fair value)             17,955            -           -        Available for sale (at fair value) 205,174      313,983     345,971        Held for investment        (at amortized cost)                 32,588      129,958     137,197          Total Securities                 255,717      443,941     483,168      Loans available for sale               1,833        5,888       3,516      Loans, net of unearned income      1,893,114    1,733,111   1,656,061      Less: Allowance for loan losses      (22,540)     (14,915)    (12,693)          Net Loans                      1,870,574    1,718,196   1,643,368      Bank premises and equipment, net      39,180       37,070      36,400      Other real estate owned                  240            -           -      Goodwill and other intangible assets  56,767       57,299      56,394      Other assets                          41,183       34,826      34,106                                        $2,316,779   $2,389,435  $2,351,297    Liabilities and Shareholders' Equity    Liabilities      Deposits        Demand deposits (noninterest         bearing)                         $336,816     $391,805    $424,624        Savings deposits                   886,806      929,444     944,190        Other time deposits                340,440      325,251     334,713        Time certificates of $100,000 or         more                              291,664      244,518     254,366          Total Deposits                 1,855,726    1,891,018   1,957,893      Federal funds purchased and securities       sold under agreements to repurchase,       maturing within 30 days             141,884      206,476     104,179      Borrowed funds                        39,749       26,522      26,516      Subordinated debt                     53,610       41,238      41,238      Other liabilities                     11,930       11,756      12,911                                         2,102,899    2,177,010   2,142,737    Shareholders' Equity      Preferred stock                            -            -           -      Common stock                           1,914        1,899       1,899      Additional paid in capital            90,752       88,380      87,311      Retained earnings                    123,538      124,811     122,145      Treasury stock                        (1,430)        (310)        (90)                                           214,774      214,780     211,265      Accumulated other comprehensive       loss, net                              (894)      (2,355)     (2,705)          Total Shareholders' Equity       213,880      212,425     208,560                                        $2,316,779   $2,389,435  $2,351,297    Common Shares Outstanding           19,104,027   18,974,295  18,980,329    Note:  The balance sheet at December 31, 2006 has been derived from the           audited financial statements at that date.    CONSOLIDATED QUARTERLY FINANCIAL DATA         (Unaudited)    SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES                                                      Quarters    (Dollars in thousands, except                       2007     per share data)                      Third        Second         First    Net income                             $285        $4,808        $2,769    Net income, excluding     securities restructuring losses (5)    285         4,808         6,066    Operating Ratios       Return on average assets -        GAAP earnings (2),(3)              0.05 %        0.85 %        0.47 %       Return on average tangible        assets (2), (3), (4), (5)          0.09          0.91          1.09       Return on average        shareholders' equity-GAAP        earnings (2),(3)                   0.51          8.81          5.16       Return on average tangible        shareholders' equity (2),        (3), (4), (5)                      1.18         12.43         15.83       Net interest margin (1),(2)         3.94          4.09          3.92       Average equity to average assets    9.69          9.62          9.15    Credit Analysis       Net charge-offs                   $1,039          $143          $125       Net charge-offs to average loans    0.22 %        0.03 %        0.03 %       Loan loss provision               $8,375        $1,107         $(550)       Allowance to loans at end of        period                             1.19 %        0.84 %        0.82 %       Nonperforming assets             $45,894       $15,495        $4,088       Nonperforming assets to        loans and other real estate        owned at end of period             2.42 %        0.85 %        0.23 %       Nonaccrual loans and        accruing loans 90 days or more        past due to loans outstanding        at end of period                   2.44          0.89          0.27    Per Share Common Stock       Net income diluted-GAAP earnings   $0.01         $0.25         $0.14       Net income basic-GAAP earnings      0.02          0.25          0.15       Net income diluted-excluding        securities restructuring        losses (5)                         0.01          0.25          0.32       Net income basic-excluding        securities restructuring        losses (5)                         0.02          0.25          0.32       Cash dividends declared             0.16          0.16          0.16       Book value per share               11.20         11.32         11.34    Average Balances    Total assets                     $2,279,036    $2,277,678    $2,379,739    Less:  Intangible assets             56,884        57,322        57,213    Total average tangible assets    $2,222,152    $2,220,356    $2,322,526    Total equity                       $220,868      $219,020      $217,834    Less:  Intangible assets             56,884        57,322        57,213    Total average tangible equity      $163,984      $161,698      $160,621                                                  Quarters                                                    2006          Last 12    (Dollars in thousands, except per share data)  Fourth          Months    Net income                                     $5,685         $13,547    Net income, excluding securities     restructuring losses (5)                       5,685          16,844    Operating Ratios       Return on average assets - GAAP        earnings (2), (3)                            0.95 %          0.58 %       Return on average tangible assets        (2), (3), (4), (5)                           1.01            0.78       Return on average shareholders'        equity-GAAP earnings (2), (3)               10.57            6.22       Return on average tangible        shareholders' equity (2), (3), (4), (5)     14.87           10.98       Net interest margin (1), (2)                  3.95            3.98       Average equity to average assets              8.99            9.36    Credit Analysis       Net charge-offs                                $27          $1,334       Net charge-offs to average loans              0.01 %          0.08 %       Loan loss provision                         $2,250         $11,182       Allowance to loans at end of period           0.86 %       Nonperforming assets                       $12,465       Nonperforming assets to loans and        other real estate owned at end of period     0.72 %       Nonaccrual loans and accruing        loans 90 days or more past due to loans        outstanding at end of period                 0.72    Per Share Common Stock       Net income diluted-GAAP earnings             $0.30           $0.70       Net income basic-GAAP earnings               $0.30            0.72       Net income diluted-excluding        securities restructuring losses (5)          0.30            0.88       Net income basic-excluding        securities restructuring losses (5)          0.30            0.89       Cash dividends declared                       0.16            0.64       Book value per share                         11.20    Average Balances    Total assets                               $2,372,784    Less:  Intangible assets                       56,230    Total average tangible assets              $2,316,554    Total equity                                 $213,354    Less:  Intangible assets                       56,230    Total average tangible equity                $157,124    (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) on available for sale securities because the        unrealized gains (losses) are not included in net income.    (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 operating        earnings growth.    (5) Excluding securities restructuring losses of $5,118 (or $3,297, net of        taxes) recorded in the first quarter 2007.    CONSOLIDATED QUARTERLY FINANCIAL DATA (Unaudited)    SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES                                     September 30,  December 31, September 30,    SECURITIES                           2007          2006          2006    U.S. Treasury and U.S. Government     Agencies                             $17,955          $-           $-    Securities Trading                     17,955           -            -    U.S. Treasury and U.S. Government     Agencies                              35,349      94,676      103,219    Mortgage-backed                       164,452     214,661      238,389    Obligations of states and political     subdivisions                           2,117       2,049        2,066    Other securities                        3,256       2,597        2,297       Securities - Available for Sale    205,174     313,983      345,971    Mortgage-backed                        26,441     123,587      130,567    Obligations of states and political     subdivisions                           6,147       6,371        6,630       Securities Held for Investment      32,588     129,958      137,197           Total Securities              $255,717    $443,941     $483,168                                     September 30,  December 31, September 30,    LOANS                                2007          2006          2006    Construction and land development    $627,003    $571,133     $542,601    Real estate mortgage                1,051,750     949,824      911,630    Installment loans to individuals       78,641      83,428       83,235    Commercial and financial              135,111     128,101      117,738    Other loans                               609         625          857           Total Loans                 $1,893,114  $1,733,111   $1,656,061    AVERAGE BALANCES, YIELDS AND RATES  (1)(Unaudited)    SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES                                                     2007                                      Third Quarter         Second Quarter                                    Average     Yield/     Average    Yield/    (Dollars in thousands)          Balance      Rate      Balance     Rate    Assets    Earning assets:      Securities:          Taxable                  $233,809      5.25%    $267,308     5.34%          Nontaxable                  8,216      6.33        8,323     6.58        Total Securities            242,025      5.29      275,631     5.37      Federal funds sold and other       investments                   21,364      5.53       48,140     5.52      Loans, net                  1,866,954      7.30    1,783,156     7.41        Total Earning Assets      2,130,343      7.05    2,106,927     7.10    Allowance for loan losses       (15,361)               (14,358)    Cash and due from banks          47,633                 70,274    Premises and equipment           39,190                 38,445    Other assets                     77,231                 76,390                                 $2,279,036             $2,277,678    Liabilities and Shareholders'     Equity    Interest-bearing liabilities:        NOW                         $53,842      2.78%    $170,588     2.61%        Savings deposits            112,323      0.71      121,159     0.71        Money market accounts       715,885      3.15      591,403     3.13        Time deposits               629,479      4.92      617,905     4.88        Federal funds purchased and         other short-term         borrowings                 127,163      4.41      110,123     4.40        Other borrowings             69,860      7.00       67,816     7.04        Total Interest-Bearing         Liabilities              1,708,552      3.88    1,678,994     3.79    Demand deposits     (noninterest-bearing)          340,462                370,953    Other liabilities                 9,154                  8,711        Total Liabilities         2,058,168              2,058,658    Shareholders' equity            220,868                219,020                                 $2,279,036             $2,277,678    Interest expense as a % of     earning assets                    3.11%                  3.02%    Net interest income as a % of     earning assets                    3.94                   4.09    AVERAGE BALANCES, YIELDS AND RATES  (1)(Unaudited)    SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES                                                             2006                                                         Third Quarter                                                    Average          Yield/    (Dollars in thousands)                          Balance           Rate    Assets    Earning assets:        Securities:             Taxable                                $493,810          4.35 %             Nontaxable                                8,654          6.61          Total Securities                           502,464          4.39        Federal funds sold and other investments      38,832          5.32        Loans, net                                 1,634,263          7.47          Total Earning Assets                     2,175,559          6.71    Allowance for loan losses                        (12,363)    Cash and due from banks                           74,680    Premises and equipment                            37,162    Other assets                                      75,824                                                  $2,350,862    Liabilities and Shareholders' Equity    Interest-bearing liabilities:          NOW                                       $208,948          1.72 %          Savings deposits                           149,323          0.69          Money market accounts                      603,133          2.76          Time deposits                              552,589          4.23          Federal funds purchased and           other short-term borrowings               107,401          4.42          Other borrowings                            67,572          7.14          Total Interest-Bearing Liabilities       1,688,966          3.21    Demand deposits (noninterest-bearing)            439,379    Other liabilities                                 11,493          Total Liabilities                        2,139,838    Shareholders' equity                             211,024                                                  $2,350,862    Interest expense as a % of earning assets                         2.49 %    Net interest income as a % of earning assets                      4.22    (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.