To improve the seakeeping capability, some devices, such as submerged plates, are often installed on floating structures. The attached plate can not only suppress the motion response but also provide an additional immersed body surface that receives fluid action, aggravating the wave loads. In this study, a theoretical model is developed within the context of linear potential theory to study the hydrodynamic characteristics of a floating column with a submerged plate attached at the bottom. The eigenfunction expansion matching method is applied to obtain the velocity potential, based on which the linear wave force and wave runup can be found immediately. A novel derivation of the mean drift force formulation is developed via the application of Green’s second identity to the velocity potential and its derivative in finite fluid volume surrounding the body. Mean drift force formulation that involves control surfaces is then obtained. With the availability of the velocity potential, semi-analytical solution of the mean drift force on the compound column-plate structure is developed based on, respectively, the derived and the classic far-field formulations. After conducting convergence tests and validating the theoretical model, detailed numerical analysis is performed thereafter based on the theoretical model. The influence of the plate size, such as the radius and height, on the wave force and the associated wave runup is assessed.