Search the web
Welcome, Guest
[Sign Out, My Account]

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
SBCF > SEC Filings for SBCF > Form 8-K on 25-Sep-2013All Recent SEC Filings

Show all filings for SEACOAST BANKING CORP OF FLORIDA | Request a Trial to NEW EDGAR Online Pro



Termination of a Material Definitive Agreement, Financial Statem

Item 1.02 Termination of a Material Definitive Agreement

The Office of the Comptroller of the Currency ("OCC") has notified Seacoast National Bank (the "Bank'), the sole bank subsidiary of Seacoast Banking Corporation of Florida, that, effective September 19, 2013, the Bank is no longer subject to the Formal Written Agreement (the "Formal Agreement") entered into on December 16, 2008. As reflected in the Formal Agreement, the OCC's primary concern with the Bank was to address the safety and soundness concerns identified in the June 30, 2009 Report of Examination, as well as the applicable standards set forth in 12 C.F.R. 3.10 and 3.11.

In addition, the OCC has notified the Bank that, effective September 19, 2013, it is no longer subject to the individual minimum capital ratios established for the Bank on December 9, 2009, which required the Bank to maintain a Tier 1 capital (to adjusted average assets) ratio of at least 8.50% and a total risk-based capital ratio of at least 12.00%. The general regulatory minimums to be "well-capitalized" are a Tier 1 leverage capital ratio of at least 5.00%, a Tier 1 risk-based capital ratio of at least 6.00% and a total risk-based capital ratio of at least 10.00%. These regulatory capital ratios for the Bank were 9.48%, 15.80% and 17.05%, respectively, as of June 30, 2013. Therefore, the Bank is well-capitalized for regulatory purposes.


Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description

99.1 Press release dated September 25, 2013.


  Add SBCF to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for SBCF - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial Sign Up Now

Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.