(a) On March 10, 2009, Seacoast Banking Corporation of Florida ("Seacoast" or the "Company") filed its Annual Report on 10-K for December 31, 2008 (the "Annual Report") and announced an increase in the Company's net loss for the year-ended December 31, 2008 of $4.6 million. The additional loss was the result of the recording of a non-cash valuation allowance related to a portion of the Company's net state deferred tax assets which may not be realized due to limitations in the state tax code.

A copy of the press release reporting the non-cash adjustment and reconciling the net loss before tax benefit and the net loss as reported in the Company's earnings release dated January 27, 2009 with the Annual Report is attached hereto as Exhibit 99.1 and incorporated herein by reference.

  Exhibit Number       Document Description
       99.1            Press Release dated March 10, 2009 with respect
                       to an adjustment to the financial results for
                       the fourth quarter and year-ended December 31,
                       2008

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