SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No.           )

Seacoast Banking Corporation of Florida

 

(Name of Issuer)

Common Stock, par value $0.10 per share

(Title of Class of Securities)

811707306

(CUSIP Number)

October 8, 2010

(Date of Event which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

o Rule 13d-1(b)
x Rule 13d-1(c)
o Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

CUSIP No.		811707306

CUSIP No.		811707306

Item 1.

	1(a)		Name of Issuer:
			Seacoast Banking Corporation of Florida (the “Issuer”)
	1(b)		Address of Issuer’s principal executive offices: 815 Colorado Avenue Stuart, FL 34994

Item 2.

	2(a)		Name of person filing:
			This filing is being made by Otter Creek Partners I, L.P. (“OCP”) and Otter Creek International Ltd. (“OCI”). Otter Creek Management Inc. is the general partner of OCP and the investment adviser to OCI, and in such capacities makes investment decisions for them, including the decision to invest in shares of the Issuer.
	2(b)		Address or principal business office or, if none, residence: OCP’s address is:           222 Lakeview Avenue           Suite 1130           West Palm Beach, Florida 33401 OCI’s address is:           c/o Caceis (Bermuda) Limited           William House, 20 Reid Street           Hamilton HM 11, Bermuda
	2(c)		Citizenship:
			OCP is a Delaware limited partnership and OCI is a British Virgin Islands investment company.
	2(d)		Title of class of securities:
			Common Stock, par value $0.10 per share (“Common Stock”)
	2(e)		CUSIP No.:
			811707306

Item 3.

Not applicable.

Item 4.		Ownership

	(a)		Amount beneficially owned:
			OCP: 1,851,912 shares           OCI: 3,179,852 shares
	(b)		Percent of class:
			The Issuer’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2010, indicates that the total number of outstanding shares of Common Stock as of June 30, 2010 was 93,415,364. Based on the Issuer’s outstanding shares of Common Stock as of June 30, 2010, OCP and OCI own 3.4% and 2.0%, respectively, of the outstanding shares of Common Stock of the Issuer.
	(c)		Number of shares as to which such person has:

	(i)		Sole power to vote or to direct the vote:           OCP: 1,851,912 shares            OCI: 3,179,852 shares
	(ii)		Shared power to vote or to direct the vote:           OCP: 0 shares           OCI: 0 shares
	(iii)		Sole power to dispose or to direct the disposition of:           OCP: 1,851,912 shares           OCI: 3,179,852 shares
	(iv)		Shared power to dispose or to direct the disposition of:           OCP: 0 shares           OCI: 0 shares

Item 5.		Ownership of Five Percent or Less of a Class

Not applicable.

Item 6.		Ownership of More than Five Percent on Behalf of Another Person

Not applicable.

Item 7.		Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person

Not applicable.

Item 8.		Identification and Classification of Members of the Group

This filing is made on behalf of OCP and OCI. See Exhibit 1 attached hereto.

Item 9.		Notice of Dissolution of Group

Not applicable.

Item 10.		Certifications

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

EXHIBIT 1

AGREEMENT

     THIS AGREEMENT is made and entered into as of October 18, 2010 between Otter Creek Partners I, L.P., a Delaware limited partnership (“OCP”) and Otter Creek International Ltd., a British Virgin Islands investment company (“OCI”).

     WHEREAS, pursuant to paragraph (k) of Rule 13d-1 promulgated under Subsection 13(d)(1) of the Securities Exchange Act of 1934, as amended (the “1934 Act”), the parties hereto have decided to satisfy their filing obligations under the 1934 Act by a single joint filing.

     NOW, THEREFORE, the undersigned hereby agree as follows:

     1. The Schedule 13G with respect to Seacoast Banking Corporation of Florida to which this is attached as Exhibit 1 is filed on behalf of OCP and OCI.

     2. Each of OCP and OCI is responsible for the completeness and accuracy of the information concerning such person contained therein; provided that each person is not responsible for the completeness or accuracy of the information concerning any other person making such filing.

     IN WITNESS WHEREOF, the undersigned hereunto set their hands as of the date first above written.