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Business Combinations (Tables) | 12 Months Ended
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Dec. 31, 2024
Business Combinations [Abstract] |
Schedule of Purchase Price Calculation |
(In thousands, except per share data) |  | January 31, 2023
Number of Professional common shares outstanding |  | 14,358 |
Per share exchange ratio |  | 0.8909
Number of shares of SBCF common stock issued |  | 12,792 |
Multiplied by common stock price per share at January 31, 2023 |  | $ | 32.11 |
Value of SBCF common stock issued |  | $ | 410,738 |
Cash paid for fractional shares |  | 5 |
Fair value of Professional options converted |  | 10,304 |
Total purchase price |  | $ | 421,047 |
(In thousands, except per share data) |  | October 7, 2022
Number of Apollo common shares outstanding |  | 3,766 |
Per share exchange ratio |  | 1.0065
Number of shares of SBCF common stock issued |  | 3,791 |
Number of Apollo Bank minority interest shares outstanding |  | 609 |
Per share exchange ratio |  | 1.1957
Number of shares of SBCF common stock issued |  | 728 |
Total number of shares of SBCF common stock issued |  | 4,519
Multiplied by common stock price per share at October 7, 2022 |  | $ | 30.83 |
Value of SBCF common stock issued |  | $ | 139,307 |
Cash paid for fractional shares |  | 5 |
Fair value of Apollo options and warrants converted |  | 6,530 |
Total purchase price |  | $ | 145,842 |
(In thousands, except per share data) |  | October 7, 2022
Number of Drummond common shares outstanding |  | 99 |
Per share exchange ratio |  | 51.9561
Number of shares of SBCF common stock issued |  | 5,136 |
Multiplied by common stock price per share at October 7, 2022 |  | $ | 30.83 |
Total purchase price |  | $ | 158,332 |
(In thousands, except per share data) |  | January 3, 2022
Number of BBFC common shares outstanding |  | 1,112 |
Per share exchange ratio |  | 0.7997
Number of shares of SBCF common stock issued |  | 889 |
Multiplied by common stock price per share on January 3, 2022 |  | $ | 35.39 |
Value of SBCF common stock issued |  | $ | 31,480 |
Fair value of BBFC options converted |  | 497 |
Total purchase price |  | $ | 31,977 |
(In thousands, except per share data) |  | January 3, 2022
Number of Sabal Palm common shares outstanding |  | 7,536 |
Per share exchange ratio |  | 0.2203
Number of shares of SBCF common stock issued |  | 1,660 |
Multiplied by common stock price per share on January 3, 2022 |  | $ | 35.39 |
Value of SBCF common stock issued |  | $ | 58,762 |
Fair value of Sabal Palm options converted |  | 3,336 |
Total purchase price |  | $ | 62,098 |
Schedule of Business Acquisitions |
|  | Initially Measured |  | Measurement |  | As Adjusted
(In thousands) |  | January 31, 2023 |  | Period Adjustments |  | January 31, 2023
Assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 141,680 |  |  | $ | — |  |  | $ | 141,680 |
Investment securities |  | 167,059 |  |  | — |  |  | 167,059 |
Loans |  | 1,991,713 |  |  | (5,544) |  |  | 1,986,169 |
Bank premises and equipment |  | 2,478 |  |  | — |  |  | 2,478 |
Core deposit intangibles |  | 48,885 |  |  | — |  |  | 48,885 |
Goodwill |  | 248,091 |  |  | 3,583 |  |  | 251,674 |
BOLI |  | 55,071 |  |  | — |  |  | 55,071 |
Other Assets |  | 74,232 |  |  | 2,561 |  |  | 76,793 |
Total Assets |  | $ | 2,729,209 |  |  | $ | 600 |  |  | $ | 2,729,809 |
Liabilities: |  |  |  |  |  |
Deposits |  | $ | 2,119,341 |  |  | $ | — |  |  | $ | 2,119,341 |
Subordinated debt |  | 21,141 |  |  | — |  |  | 21,141 |
Other Liabilities |  | 167,680 |  |  | 600 |  |  | 168,280 |
Total Liabilities |  | $ | 2,308,162 |  |  | $ | 600 |  |  | $ | 2,308,762 |
|  | Initially Measured |  | Measurement |  | As Adjusted
(In thousands) |  | October 7, 2022 |  | Period Adjustments |  | October 7, 2022
Assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 41,001 |  |  | $ | — |  |  | $ | 41,001 |
Investment securities |  | 203,596 |  |  | — |  |  | 203,596 |
Loans |  | 666,522 |  |  | — |  |  | 666,522 |
Bank premises and equipment |  | 7,809 |  |  | — |  |  | 7,809 |
Core deposit intangibles |  | 28,699 |  |  | — |  |  | 28,699 |
Goodwill |  | 90,237 |  |  | 251 |  |  | 90,488 |
Other Assets |  | 52,724 |  |  | (251) |  |  | 52,473 |
Total Assets |  | $ | 1,090,588 |  |  | $ | — |  |  | $ | 1,090,588 |
Liabilities: |  |  |  |  |  |
Deposits |  | $ | 854,774 |  |  | $ | — |  |  | $ | 854,774 |
Other Liabilities |  | 89,972 |  |  | — |  |  | 89,972 |
Total Liabilities |  | $ | 944,746 |  |  | $ | — |  |  | $ | 944,746 |
|  | Initially Measured |  | Measurement |  | As Adjusted
(In thousands) |  | October 7, 2022 |  | Period Adjustments |  | October 7, 2022
Assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 31,805 |  |  | $ | — |  |  | $ | 31,805 |
Investment securities |  | 327,852 |  |  | — |  |  | 327,852 |
Loans |  | 544,694 |  |  | — |  |  | 544,694 |
Bank premises and equipment |  | 29,370 |  |  | — |  |  | 29,370 |
Core deposit and other intangibles |  | 32,983 |  |  | — |  |  | 32,983 |
Goodwill |  | 103,476 |  |  | 173 |  |  | 103,649 |
Other Assets |  | 49,812 |  |  | (173) |  |  | 49,639 |
Total Assets |  | $ | 1,119,992 |  |  | $ | — |  |  | $ | 1,119,992 |
Liabilities: |  |  |  |  |  |
Deposits |  | $ | 881,281 |  |  | $ | — |  |  | $ | 881,281 |
Other Liabilities |  | 80,379 |  |  | — |  |  | 80,379 |
Total Liabilities |  | $ | 961,660 |  |  | $ | — |  |  | $ | 961,660 |
(In thousands) |  | Measured January 3, 2022 |  |  |  |
Assets: |  |  |  |  |  |
Cash |  | $ | 38,332 |  |  |  |  |
Investment securities |  | 26,011 |  |  |  |  |
Loans |  | 121,774 |  |  |  |  |
Bank premises and equipment |  | 2,102 |  |  |  |  |
Core deposit intangibles |  | 2,621 |  |  |  |  |
Goodwill |  | 7,962 |  |  |  |  |
Total Assets |  | $ | 198,802 |  |  |  |  |
Liabilities: |  |  |  |  |  |
Deposits |  | 166,326 |  |  |  |  |
Other liabilities |  | 499 |  |  |  |  |
Total Liabilities |  | $ | 166,825 |  |  |  |  |
(In thousands) |  | Measured January 3, 2022 |  |  |  |
Assets: |  |  |  |  |  |
Cash |  | $ | 170,609 |  |  |  |  |
Time deposits with other banks |  | 6,473 |  |  |  |  |
Loans |  | 246,152 |  |  |  |  |
Bank premises and equipment |  | 1,745 |  |  |  |  |
Core deposit intangibles |  | 5,587 |  |  |  |  |
Goodwill |  | 26,489 |  |  |  |  |
Other Assets |  | 5,189 |  |  |  |  |
Total Assets |  | $ | 462,244 |  |  |  |  |
Liabilities: |  |  |  |  |  |
Deposits |  | 395,952 |  |  |  |  |
Other liabilities |  | 4,194 |  |  |  |  |
Total Liabilities |  | $ | 400,146 |  |  |  |  |
Schedule of Fair Value of Acquired Loans and Unpaid Principal Balance | The table below presents information with respect to the fair value and unpaid principal balance of acquired loans at the acquisition date.
|  | January 31, 2023
(In thousands) |  | Book Balance |  | Fair Value
Loans: |  |  |  |
Construction and land development |  | $ | 156,048 |  |  | $ | 151,012 |
Commercial real estate - owner occupied |  | 293,473 |  |  | 274,068 |
Commercial real estate - non-owner occupied |  | 752,393 |  |  | 692,746 |
Residential real estate |  | 509,305 |  |  | 483,611 |
Commercial and financial |  | 392,396 |  |  | 350,628 |
Consumer |  | 33,656 |  |  | 32,153 |
PPP Loans |  | 1,951 |  |  | 1,951 |
Total acquired loans |  | $ | 2,139,222 |  |  | $ | 1,986,169 |
The table below presents information with respect to the fair value and unpaid principal balance of acquired loans at the acquisition date.
|  | October 7, 2022
(In thousands) |  | Book Balance |  | Fair Value
Loans: |  |  |  |
Construction and land development |  | $ | 74,126 |  |  | $ | 70,654 |
Commercial real estate - owner-occupied |  | 131,093 |  |  | 121,600 |
Commercial real estate - non owner-occupied |  | 374,673 |  |  | 340,561 |
Residential real estate |  | 76,254 |  |  | 75,957 |
Commercial and financial |  | 50,125 |  |  | 46,695 |
Consumer |  | 11,307 |  |  | 11,055 |
Total acquired loans |  | $ | 717,578 |  |  | $ | 666,522 |
The table below presents information with respect to the fair value and unpaid principal balance of acquired loans at the acquisition date.
|  | October 7, 2022
(In thousands) |  | Book Balance |  | Fair Value
Loans: |  |  |  |
Construction and land development |  | $ | 155,041 |  |  | $ | 140,401 |
Commercial real estate - owner-occupied |  | 112,768 |  |  | 106,152 |
Commercial real estate - non owner-occupied |  | 26,520 |  |  | 24,744 |
Residential real estate |  | 85,767 |  |  | 78,663 |
Commercial and financial |  | 88,026 |  |  | 82,067 |
Consumer |  | 118,880 |  |  | 112,667 |
Total acquired loans |  | $ | 587,002 |  |  | $ | 544,694 |
The table below presents information with respect to the fair value and unpaid principal balance of acquired loans at the acquisition date.
|  | January 3, 2022
(In thousands) |  | Book Balance |  | Fair Value
Loans: |  |  |  |
Construction and land development |  | $ | 8,677 |  |  | $ | 8,414 |
Commercial real estate - owner-occupied |  | 45,403 |  |  | 44,564 |
Commercial real estate - non owner-occupied |  | 53,065 |  |  | 52,034 |
Residential real estate |  | 5,377 |  |  | 5,421 |
Commercial and financial |  | 11,335 |  |  | 11,280 |
Consumer |  | 59 |  |  | 61 |
Total acquired loans |  | $ | 123,916 |  |  | $ | 121,774 |
The table below presents information with respect to the fair value and unpaid principal balance of acquired loans at the acquisition date.
|  | January 31, 2023
(In thousands) |  | Book Balance |  | Fair Value
Loans: |  |  |  |
Construction and land development |  | $ | 9,256 |  |  | $ | 9,009 |
Commercial real estate - owner-occupied |  | 57,690 |  |  | 56,591 |
Commercial real estate - non owner-occupied |  | 89,153 |  |  | 87,280 |
Residential real estate |  | 71,469 |  |  | 72,227 |
Commercial and financial |  | 21,109 |  |  | 20,813 |
Consumer |  | 233 |  |  | 232 |
Total acquired loans |  | $ | 248,910 |  |  | $ | 246,152 |
Schedule Purchase Credit Deteriorated Loans Acquired | The table below presents the carrying amount of loans for which, at the date of acquisition, there was evidence of more than insignificant deterioration of credit quality since origination:
(In thousands) |  | January 31, 2023
Book balance of loans at acquisition |  | $ | 155,031 |
Allowance for credit losses at acquisition |  | (18,879) |
Non-credit related discount |  | (12,361) |
Total PCD loans acquired |  | $ | 123,791 |
The table below presents the carrying amount of loans for which, at the date of acquisition, there was evidence of more than insignificant deterioration of credit quality since origination:
(In thousands) |  | October 7, 2022 |
Book balance of loans at acquisition |  | $ | 107,744 |  |
Allowance for credit losses at acquisition |  | (2,658) |  |
Non-credit related discount |  | (14,191) |  |
Total PCD loans acquired |  | $ | 90,895 |  |
The table below presents the carrying amount of loans for which, at the date of acquisition, there was evidence of more than insignificant deterioration of credit quality since origination:
(In thousands) |  | October 7, 2022 |
Book balance of loans at acquisition |  | $ | 58,878 |  |
Allowance for credit losses at acquisition |  | (2,566) |  |
Non-credit related discount |  | (4,607) |  |
Total PCD loans acquired |  | $ | 51,705 |  |
The table below presents the carrying amount of loans for which, at the date of acquisition, there was evidence of more than insignificant deterioration of credit quality since origination:
(In thousands) |  | January 3, 2022 |
Book balance of loans at acquisition |  | $ | 714 |  |
Allowance for credit losses at acquisition |  | (15) |  |
Non-credit related discount |  | (48) |  |
Total PCD loans acquired |  | $ | 651 |  |
The table below presents the carrying amount of loans for which, at the date of acquisition, there was evidence of more than insignificant deterioration of credit quality since origination:
(In thousands) |  | January 31, 2023 |
Book balance of loans at acquisition |  | $ | 3,703 |  |
Allowance for credit losses at acquisition |  | (37) |  |
Non-credit related discount |  | (663) |  |
Total PCD loans acquired |  | $ | 3,003 |  |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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