Item 2.01 Completion of Acquisition or Disposition of Assets.



Effective January 3, 2022, Seacoast Banking Corporation of Florida ("Seacoast"
or the "Company") and Seacoast's wholly-owned subsidiary Seacoast National Bank,
completed the previously announced mergers (the "Mergers") with Sabal Palm
Bancorp, Inc. ("Sabal Palm"), parent company of Sabal Palm Bank, and Business
Bank of Florida, Corp. ("BBFC"), parent company of Florida Business Bank. At the
effective time of the Mergers (the "Effective Time"), each of Sabal Palm and
BBFC merged with and into Seacoast, and each of Sabal Palm Bank and Florida
Business Bank merged with and into Seacoast Bank, pursuant to the terms and
conditions of the Agreement and Plan of Merger by and among Seacoast, Seacoast
National Bank, Sabal Palm and Sabal Palm Bank, dated as of August 23, 2021 as
amended on November 12, 2021 (the "Sabal Palm Merger Agreement"), and of the
Agreement and Plan of Merger by and among Seacoast, Seacoast National Bank, BBFC
and Florida Business Bank dated as of August 23, 2021 (the "BBFC Merger
Agreement").

Pursuant to the Sabal Palm Merger Agreement, holders of Sabal Palm common stock
received 0.2203 of a share (the "Exchange Ratio") of Seacoast common stock
(subject to the payment of cash in lieu of fractional shares) for each share of
Sabal Palm common stock held immediately prior to the Effective Time. Each share
of Seacoast common stock outstanding immediately prior to the Merger remained
outstanding and was unaffected by the Merger. Also at the Effective Time, each
Sabal Palm option ceased to be outstanding, and, in consideration therefor,
Seacoast granted to each holder of Sabal Palm options, as of the Effective Time,
an option to purchase shares of Seacoast common stock on the same terms and
conditions as applicable to each such Sabal Palm option as in effect immediately
prior to the Effective Time, with the number of shares underlying each such
option and the applicable exercise price adjusted based on the Exchange Ratio.

Under the terms of the BBFC Merger Agreement, holders of BBFC common stock
received 0.7997 of a share (the "Exchange Ratio") of Seacoast common stock
(subject to the payment of cash in lieu of fractional shares) for each share of
BBFC common stock held immediately prior to the Effective Time. Each share of
Seacoast common stock outstanding immediately prior to the Merger remained
outstanding and was unaffected by the Merger. Also at the Effective Time, each
BBFC option ceased to be outstanding, and, in consideration therefor, Seacoast
granted to each holder of BBFC options, as of the Effective Time, an option to
purchase shares of Seacoast common stock on the same terms and conditions as
applicable to each such BBFC option as in effect immediately prior to the
Effective Time, with the number of shares underlying each such option and the
applicable exercise price adjusted based on the Exchange Ratio.

The foregoing description of the Mergers and the Merger Agreements does not purport to be complete and is qualified in its entirety by reference to the Merger Agreements, which are included as Exhibit 2.1 and Exhibit 2.2 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 8.01 Other Events.



On January 3, 2022, the Company issued a press release announcing the completion
of the Mergers. A copy of the press release is included as Exhibit 99.1 to this
Current Report on Form 8-K and is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits

(a) Exhibits

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Exhibit No.                 Description
                              Agreement and Plan of Merger Dated November 12, 2021 by and among the
2.1                         Company, Seacoast Bank, Sabal Palm Bancorp, Inc. and Sabal Palm Bank
                            incorporated herein by reference from Exhibit 2.1 to the Company's Form
                            8-K, filed November 18, 2021
                              Agreement and Plan of Merger dated as of August 23, 2021 by and among
2.2                         the Company, Seacoast National Bank, Business

Bank of Florida, Corp., and

Florida Business Bank incorporated herein by

reference to Appendix A to


                            the Company's Form 8-K, filed August 27, 2021
99.1                          Press Release dated January 3, 2022
104                         Cover Page Interactive Data File (embedded within the Inline XBRL
                            document)

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