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Business Combinations (Tables) | 9 Months Ended
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Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Schedule of Business Acquisitions |
(In thousands, except per share data) | July 11, 2025 |
Number of Heartland shares receiving stock | 378 |
Per share exchange ratio for Heartland shares receiving stock | 4.9263 |
Number of shares of SBCF common stock issued | 1,862 |
Multiplied by SBCF price per share at July 11, 2025 | $ | 29.29 |  |
Value of SBCF common stock issued | $ | 54,547 |  |
Number of Heartland shares receiving cash | 378 |
Per share cash consideration for Heartland shares receiving cash | $ | 147.10 |  |
Cash consideration paid to Heartland shareholders, including cash paid for fractional shares | $ | 55,623 |  |
Cash paid to Heartland option holders | 1,054 |
Total purchase price | $ | 111,224 |  |
(In thousands, except per share data) | October 1, 2025 |
Number of VBI shares receiving stock | 550 |
Per share exchange ratio for VBI shares receiving stock | 38.5000 |
Number of shares of SBCF common stock issued | 9,923 |
Number of shares of SBCF preferred stock issued 1 | 11 |
Multiplied by SBCF price per share at October 1, 2025 | $ | 30.50 |  |
Total Value of SBCF common and preferred stock issued | $ | 645,785 |  |
Number of VBI shares receiving cash | 183 |
Per share exchange ratio for VBI shares receiving cash | $ | 1,000.00 |  |
Cash consideration paid to VBI shareholders, including cash paid for fractional shares | $ | 183,360 |  |
Total purchase price | $ | 829,145 |  |
1 Preferred stock is 1/1000th share for every share of common stock |
Schedule of Fair Value of Assets Acquired and Liabilities Assumed | The table below presents the provisional allocation of the purchase consideration.
(In thousands) |  |  |  |  |  | July 11, 2025
Assets: |  |  |  |  |  |
Cash and cash equivalents |  |  |  |  |  | $ | 242,672 |
Investment securities |  |  |  |  |  | 357,905 |
Loans |  |  |  |  |  | 153,294 |
Bank premises and equipment |  |  |  |  |  | 7,926 |
Core deposit intangibles |  |  |  |  |  | 20,922 |
Goodwill |  |  |  |  |  | 22,228 |
Other Assets |  |  |  |  |  | 18,590 |
Total Assets |  |  |  |  |  | $ | 823,537 |
Liabilities: |  |  |  |  |  |
Deposits |  |  |  |  |  | $ | 705,195 |
Other Liabilities |  |  |  |  |  | 7,118 |
Total Liabilities |  |  |  |  |  | $ | 712,313 |
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.
|  | July 11, 2025
(In thousands) |  | Book Balance |  | Fair Value
Loans: |  |  |  |
Construction and land development |  | $ | 7,575 |  |  | $ | 7,496 |
CRE - owner occupied |  | 31,504 |  |  | 30,790 |
CRE - non-owner occupied |  | 40,239 |  |  | 38,992 |
Residential real estate |  | 52,960 |  |  | 51,434 |
Commercial and financial |  | 21,104 |  |  | 21,029 |
Consumer |  | 3,614 |  |  | 3,553 |
Total acquired loans |  | $ | 156,996 |  |  | $ | 153,294 |

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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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