STUART, Fla. -- Seacoast Banking Corporation of Florida reported a drop in second-quarter earnings, to $1.6 million from $1.7 million in the second quarter of 1993.

The company returned 1.08% and 1.01% on assets for the second quarter and first half of the year, respectively, compared with 1.14 and 1.24% in the same periods of last year.

The bank's return on equity was 11.34% and 10.77% for the second quarter and first six months of the year, compared with 13.15% and 14.44% last year.

Seacoast, the parent of First National Bank and Trust Company of the Treasure Coast, is the largest bank based in that part of Florida, with assets of about $580 million.

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