Open the filing on EDGARSEACOAST REPORTS FOURTH QUARTER AND FULL YEAR 2025 RESULTS
15% Fourth Quarter Annualized Organic Loan Growth
Net Interest Income Up 31% Quarter over Quarter and 28% Year over Year
Transformative Acquisition of Villages Bancorporation, Inc. Adds $4.4 Billion in Assets
STUART, Fla., January 29, 2026 /BUSINESS WIRE/ -- Seacoast Banking Corporation of Florida ("Seacoast" or the "Company") (NASDAQ: SBCF) today reported unaudited results of operations and other financial information for the fourth quarter and full year 2025.
Fourth Quarter 2025 Highlights
- Net income of $34.3 million included $18.1 million in merger and integration costs and $23.4 million in day-one credit provisions in the Villages Bancorporation, Inc. (“VBI”) acquisition.
- On an adjusted basis, pre-tax pre-provision earnings of $93.2 million increased 39% from the prior quarter and 65% from the prior year quarter.
- 15% annualized organic loan growth.
- Well-controlled expenses, with an improved efficiency ratio.
- Expanded branch footprint with new locations in Bradenton, FL and our first branch in the greater Atlanta market.
- Continued industry-leading strength in capital and liquidity.
Charles M. Shaffer, Seacoast's Chairman and CEO, said, “Seacoast delivered another quarter of strong financial performance, highlighted by robust loan growth and continued expansion in pre‑tax pre‑provision earnings. These results underscore the strength, resilience, and momentum of our franchise, which continues to outperform across our markets. We are thrilled to have completed our acquisition of Villages Bancorporation, Inc., a transaction that brings us top‑tier market share and a high‑quality, low‑cost deposit base in the rapidly growing The Villages® community. This acquisition further strengthened our competitive position and enhances our capacity for sustained growth and industry‑leading performance.”
Shaffer added, “Our balance sheet remains exceptionally strong, supported by solid capital levels and a highly resilient liquidity position. This strong foundation provides us with meaningful flexibility to continue strategically deploying resources to drive profitable growth. With a fortified capital base and disciplined balance sheet management, we are well‑positioned to support our customers, invest in our franchise, and extend our long‑term record of growth and value creation.”
Shaffer concluded, “As we look ahead to 2026, we are confident and excited about the shareholder returns we expect to deliver, particularly in the back half of the year. We have included a detailed slide outlining our expectations in the supplemental presentation materials, reflecting the growing momentum across our franchise and the clear path we see toward enhanced performance and long‑term value creation.”
Acquisitions Update
Seacoast’s balanced growth strategy, combining organic growth with value-creating acquisitions, continues to benefit shareholders and expand the franchise.
On October 1, 2025, the Company completed its acquisition of VBI. This transformative transaction expands the Company’s presence in North Central Florida and into The Villages® community, adding approximately $1.2 billion in loans and $3.5 billion in deposits, along with 19 branches. VBI’s future growth potential and low loan-to-deposit ratio provide significant opportunity for expansive growth throughout the Seacoast footprint. Full integration and system conversion activities are expected to be completed early in the third quarter of 2026. Non-voting, convertible preferred shares were issued in connection with the acquisition. These shares are fully convertible to common shares when transferred to a non-affiliate of the VBI holder. As such, performance metrics presented throughout this document assume full conversion of preferred shares into common shares. See “Presentation of Common and Preferred Shares” for further details.
Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and for a reconciliation to GAAP.
In the third quarter of 2025, the Company completed its acquisition of Heartland Bancshares, Inc. (“Heartland”), adding approximately $153.3 million in loans and $705.2 million in deposits, along with four branches in Central Florida. Integration activities, including system conversion, were also completed in the third quarter of 2025.
Financial Results
Income Statement
- Net revenues were $203.3 million in the fourth quarter of 2025, an increase of $46.0 million, or 29%, compared to the prior quarter, and an increase of $70.4 million, or 53%, compared to the prior year quarter. Adjusted net revenues were $204.8 million in the fourth quarter of 2025, an increase of $46.2 million, or 29%, compared to the prior quarter, and an increase of $63.2 million, or 45%, compared to the prior year quarter.
- Pre-tax pre-provision earnings were $75.1 million in the fourth quarter of 2025 and included $18.1 million in merger and integration costs. Pre-tax pre-provision earnings in the fourth quarter of 2025 increased $19.3 million, or 34%, compared to the third quarter of 2025 and increased $27.3 million, or 57%, compared to the fourth quarter of 2024. Adjusted pre-tax pre-provision earnings were $93.2 million in the fourth quarter of 2025, an increase of $26.0 million, or 39%, compared to the third quarter of 2025 and an increase of $36.6 million, or 65%, compared to the fourth quarter of 2024.
- Net interest income totaled $174.6 million in the fourth quarter of 2025, an increase of $41.2 million, or 31%, compared to the prior quarter, and an increase of $58.8 million, or 51%, compared to the fourth quarter of 2024. The increase was largely driven by growing loan and securities balances. Interest income on loans increased by $25.5 million in the fourth quarter of 2025, reflecting continued strong loan production. Included in loan interest income was accretion on acquired loans of $10.6 million in the fourth quarter of 2025, $9.5 million in the third quarter of 2025, and $11.7 million in the fourth quarter of 2024. Securities income increased $20.7 million, or 58%, primarily through the acquisition of VBI. Interest expense on deposits increased $6.9 million, or 16%, compared to the prior quarter, and increased $2.6 million, or 5%, compared to the fourth quarter of 2024. The increase from the prior quarter reflects higher average balances and the addition of VBI customers.
- Net interest margin increased nine basis points to 3.66% in the fourth quarter of 2025 compared to 3.57% in the third quarter of 2025, and increased 27 basis points compared to 3.39% in the fourth quarter of 2024. Excluding the effects of accretion on acquired loans, net interest margin expanded 12 basis points to 3.44% in the fourth quarter of 2025 compared to 3.32% in the third quarter of 2025, and increased 39 basis points compared to 3.05% in the fourth quarter of 2024. Loan yields were 6.02%, an increase of six basis points from the prior quarter and an increase of nine basis points from the prior year quarter. Securities yields increased 21 basis points to 4.13%, compared to 3.92% in the prior quarter and increased 37 basis points compared to 3.77% in the prior year quarter. The cost of deposits declined 14 basis points to 1.67% in the fourth quarter of 2025 compared to 1.81% in the prior quarter, and declined 41 basis points compared to 2.08% in the fourth quarter of 2024. The cost of funds declined 16 basis points to 1.80% quarter over quarter, and declined 37 basis points compared to the prior year quarter.
- The provision for credit losses was $29.3 million in the fourth quarter of 2025, largely the result of the acquisition of VBI which resulted in a day-one loan loss provision of $22.7 million. Allowance coverage of 1.42% increased eight basis points compared to September 30, 2025, with higher coverage levels assigned to acquired VBI loans.
- Noninterest income totaled $28.6 million in the fourth quarter of 2025, an increase of $4.8 million, or 20%, compared to the prior quarter, and an increase of $11.6 million, or 68%, compared to the prior year quarter. Changes included:
- Service charges on deposits totaled $6.5 million, an increase of $0.3 million, or 4%, from the prior quarter, and an increase of $1.3 million, or 26%, from the prior year quarter, reflecting the closing of the VBI acquisition and continued onboarding of new relationships.
- Wealth management income totaled $5.5 million, an increase of $1.0 million, or 21%, from the prior quarter and an increase of $1.5 million, or 38%, from the prior year quarter. Assets under management have grown 37% year over year. The wealth management division has continued to deliver significant growth, adding $549 million in new organic assets under management in 2025.
- Mortgage banking income totaled $3.1 million, an increase from $0.5 million in the prior quarter and from $0.3 million in the prior year quarter, reflecting the addition of mortgage banking activities from the VBI acquisition.
- Bank Owned Life Insurance income totaled $2.7 million, a decrease of $1.2 million, or 31%, from the prior quarter and an increase of $0.1 million, or 2%, from the prior year quarter. The third quarter of 2025 included death benefit payouts of $1.3 million.
Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and for a reconciliation to GAAP.
- Other income totaled $7.1 million, an increase of $1.1 million, or 18%, compared to the prior quarter and a decrease of $3.3 million, or 32%, from the prior year quarter. The increase from the prior quarter primarily reflects higher gains on SBIC investments. The decrease from the prior year quarter primarily reflects lower gains on SBIC investments and loan sales.
- Noninterest expense was $130.5 million in the fourth quarter of 2025, an increase of $28.6 million, or 28%, compared to the prior quarter, and an increase of $45.0 million, or 53%, compared to the prior year quarter. In the fourth quarter of 2025, merger and integration costs totaled $18.1 million. Results in the fourth quarter of 2025 also included:
- Salaries and wages totaled $53.9 million, an increase of $7.6 million, or 16%, from the prior quarter and an increase of $11.6 million, or 27%, from the prior year quarter. The increase from the prior quarter reflects the continued expansion of the footprint, including the acquisition of VBI, and higher performance driven incentive compensation.
- Employee benefits totaled $8.5 million, an increase of $1.1 million, or 15%, from the prior quarter and an increase of $1.9 million, or 30%, from the prior year quarter.
- Outsourced data processing costs totaled $11.3 million, an increase of $1.9 million, or 21%, from the prior quarter and an increase of $3.0 million, or 36%, from the prior year quarter. The increases reflect higher transaction volume and growth in customers, including from the acquisition of VBI.
- Occupancy costs totaled $9.3 million, an increase of $1.7 million, or 22%, compared to the prior quarter and an increase of $2.1 million, or 29%, from the prior year quarter, due to growth in the branch network.
- Legal and professional fees totaled $2.1 million, an increase of $0.4 million, or 26%, compared to the prior quarter and a decrease of $0.7 million, or 25%, from the prior year quarter. The increase is largely associated with the timing of various projects.
- Amortization of intangibles increased $4.4 million with the addition of $110.5 million in core deposit intangible assets from the VBI acquisition. These assets will be amortized using an accelerated amortization method over approximately 10 years.
- Provision for credit losses on unfunded commitments increased $0.7 million as a result of the acquisition of VBI.
- Other expense totaled $7.2 million, an increase of $1.3 million, or 22%, compared to the prior quarter and an increase of $1.2 million, or 20%, from the prior year quarter.
- The efficiency ratio was 63.36% in the fourth quarter of 2025, compared to 64.44% in the third quarter of 2025 and 60.21% in the prior year quarter. The adjusted efficiency ratio improved to 54.50% in the fourth quarter of 2025, compared to 57.63% in the third quarter of 2025 and 60.01% in the prior year quarter. The Company continues to remain keenly focused on disciplined expense control, while making investments for growth.
Balance Sheet
- Debt securities totaled $5.8 billion as of December 31, 2025, an increase of $1.9 billion compared to September 30, 2025. Debt securities as of December 31, 2025 included approximately $5.2 billion in securities classified as available-for-sale and recorded at fair value. The unrealized loss on these securities is fully reflected in the value presented on the balance sheet. The portfolio also includes $586.2 million in securities classified as held-to-maturity with a fair value of $489.6 million.
- $2.5 billion in securities were added through the VBI acquisition. Of the securities acquired, approximately $1.5 billion were sold, and the proceeds were reinvested into new positions with an average yield of 5.3%. Portfolio yield increased 21 basis points to 4.13% from 3.92% in the prior quarter, reflecting the higher yield securities purchased and acquired.
- With higher capital at VBI and lower dilution than originally modeled, along with constructive market conditions, in January 2026, the Company repositioned a portion of its available-for-sale securities portfolio. Securities with an average book yield of 1.9% were sold, resulting in a pre-tax loss of approximately $39.5 million impacting first quarter 2026 results. The proceeds of approximately $277 million were reinvested in primarily agency mortgage-backed securities with an average taxable equivalent book yield of 4.8%.
- Loans increased $1.7 billion during the fourth quarter of 2025, totaling $12.6 billion as of December 31, 2025. Annualized organic loan growth, excluding the acquisition of VBI, was 15%. The Company continues to exercise a disciplined approach to lending and is benefiting from the investments made in recent years to attract talent from large regional and national banks across its markets. The increase in annualized net loan growth was the result of a strong quarter by our commercial team and
Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and for a reconciliation to GAAP.
the addition of the VBI mortgage activity. In addition, we chose to portfolio a larger portion of the volume originated in The Villages community footprint given the strong credit scores and shorter loan duration.
- Total deposits were $16.3 billion as of December 31, 2025, an increase of $3.2 billion when compared to September 30, 2025. This increase includes $3.5 billion in deposits from the acquisition of VBI, partially offset by declines of $68.7 million in brokered deposits. Outflows were largely the result of a targeted strategy to lower rates on certain categories of accounts.
- Average noninterest bearing demand deposits totaled $4.1 billion in the fourth quarter of 2025, an increase of 15% from $3.5 billion in the third quarter of 2025, and an increase of 20% from $3.4 billion in the fourth quarter of 2024.
- The cost of deposits declined 14 basis points to 1.67% from 1.81% in the prior quarter.
- At December 31, 2025, customer transaction account balances represented 48% of total deposits. The Company continues to benefit from a granular deposit franchise, with the top ten depositors representing approximately 3% of total deposits.
- Consumer deposits represent 50% of overall deposit funding with an average consumer customer balance of $26 thousand. Commercial deposits represent 50% of overall deposit funding with an average business customer balance of $116 thousand.
- Federal Home Loan Bank borrowings averaged $623.8 million at 4.27% for the fourth quarter of 2025, compared to average borrowings of $637.8 million at 4.17% in the third quarter of 2025.
Asset Quality
- The ratio of criticized and classified loans to total loans was 2.82% at December 31, 2025, compared to 2.50% at September 30, 2025, and 2.17% at December 31, 2024. The increase was the result of the VBI acquisition.
- Accruing past due loans were $33.2 million, or 0.26% of total loans, at December 31, 2025, compared to $20.3 million, or 0.19% of total loans, at September 30, 2025, and $15.6 million, or 0.15% of total loans, at December 31, 2024.
- Net charge-offs were $0.9 million in the fourth quarter of 2025, or three basis points annualized, compared to $3.2 million in the third quarter of 2025 and $6.1 million in the fourth quarter of 2024. For the full year 2025, net charge-offs were $13.6 million, or 12 basis points as a percentage of average loans, compared to $27.1 million, or 27 basis points, in the prior year.
- Portfolio diversification, in terms of asset mix, industry, and loan type, has been a critical element of the Company's lending strategy. Exposure across industries and collateral types is broadly distributed.
- Construction and land development and commercial real estate loans remain well below regulatory guidance as of December 31, 2025 at 34% and 227% of total bank-level risk-based capital, respectively, compared to 34% and 236%, respectively, at September 30, 2025. On a consolidated basis and as of December 31, 2025, construction and land development and commercial real estate loans represent 32% and 216%, respectively, of total consolidated risk-based capital.
Capital and Liquidity
- The Company deployed capital in the fourth quarter of 2025 through the VBI acquisition, and continues to operate with a fortress balance sheet, with a Tier 1 capital ratio at December 31, 2025 of 14.4% compared to 14.5% at September 30, 2025, and 14.8% at December 31, 2024. The Total capital ratio was 15.8%, the Common Equity Tier 1 capital ratio was 11.5%, and the Tier 1 leverage ratio was 10.1% at December 31, 2025. The Company is considered “well capitalized” based on applicable U.S. regulatory capital ratio requirements.
- Tangible equity to tangible assets was 9.31% at December 31, 2025, compared to 9.76% at September 30, 2025, and 9.60% at December 31, 2024. If all held-to-maturity securities were adjusted to fair value, the tangible equity ratio would have been 8.96% at December 31, 2025. The decline quarter over quarter was the result of capital invested in the VBI acquisition.
- At December 31, 2025, in addition to $388.5 million in cash, the Company had $7.6 billion in available borrowing capacity, including $3.4 billion in available collateralized lines of credit, $3.8 billion of unpledged debt securities available as collateral for potential additional borrowings, and available unsecured lines of credit of $348.0 million.
Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and for a reconciliation to GAAP.
Estimated
OTHER INFORMATION
Conference Call Information
Seacoast will host a conference call on January 30, 2026, at 10:00 a.m. (Eastern Time) to discuss the fourth quarter of 2025 earnings results and business trends. Investors may call in (toll-free) by dialing (800) 715-9871 (Conference ID: 3069645). Charts will be used during the conference call and may be accessed at Seacoast’s website at www.SeacoastBanking.com by selecting “Presentations” under the heading “News/Events.” Additionally, a recording of the call will be made available to individuals shortly after the conference call and can be accessed via a link at www.SeacoastBanking.com under the heading “Corporate Information.” The recording will be available for one year.
About Seacoast Banking Corporation of Florida (NASDAQ: SBCF)
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) is one of the largest community banks headquartered in Florida with approximately $20.8 billion in assets and $16.3 billion in deposits as of December 31, 2025. Seacoast provides integrated financial services including commercial and consumer banking, wealth management, and mortgage services to customers at 104 full-service branches across Florida, and through advanced mobile and online banking solutions. Seacoast National Bank is the wholly-owned subsidiary bank of Seacoast Banking Corporation of Florida. 19 branches recently acquired in The Villages® community and in North Central Florida will operate under the name Citizens First Bank until Seacoast’s system conversion takes place in 2026. For more information about Seacoast, visit www.SeacoastBanking.com.
Cautionary Notice Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning, and protections, of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements about future financial and operating results, cost savings, enhanced revenues, economic and seasonal conditions in the Company’s markets, and improvements or impacts to reported earnings that may be realized from cost controls, tax law changes, conversion of preferred shares into common shares, new initiatives and for integration of banks (including Villages Bancorporation, Inc.) that the Company has acquired, or expects to acquire, as well as statements with respect to Seacoast's objectives, strategic plans, expectations and intentions and other statements that are not historical facts. Actual results may differ from those set forth in the forward-looking statements.
Forward-looking statements include statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates and intentions about future performance and involve known and unknown risks, uncertainties and other factors, which may be beyond the Company’s control, and which may cause the actual results, performance or achievements of Seacoast Banking Corporation of Florida (“Seacoast” or the “Company”) or its wholly-owned banking subsidiary, Seacoast National Bank (“Seacoast Bank”), to be materially different from results, performance or achievements expressed or implied by such forward-looking statements. You should not expect the Company to update any forward-looking statements.
Forward-looking statements notice
All statements other than statements of historical fact could be forward-looking statements. You can identify these forward-looking statements through the use of words such as "may", "will", "anticipate", "assume", "should", "support", "indicate", "would", "believe", "contemplate", "expect", "estimate", "continue", "further", "plan", "point to", "project", "could", "intend", "target" or other similar words and expressions of the future. These forward-looking statements may not be realized due to a variety of factors, including, without limitation: the impact of current and future economic and market conditions generally (including seasonality) and in the financial services industry, nationally and within Seacoast’s primary market areas, including the effects of continued inflationary pressures, changes in interest rates, tariffs or trade wars (including reduced consumer spending), slowdowns in economic growth, and the potential for high unemployment rates, as well as the financial stress on borrowers and changes to customer and client behavior and credit risk as a result of the foregoing; potential impacts of adverse developments in the banking industry and including impacts on customer confidence, deposit outflows, liquidity and the regulatory response thereto (including increases in the cost of our deposit insurance assessments), the Company's ability to effectively manage its liquidity risk and any growth plans, and the availability of capital and funding; governmental monetary and fiscal policies, including interest rate policies of the Board of Governors of the Federal Reserve, as well as legislative, tax and regulatory changes, including those that impact the money supply and inflation; the risks of continued changes in interest rates on the level and composition of deposits (as well as the cost of, and competition for, deposits), loan demand, liquidity and the values of loan collateral, securities, and interest rate sensitive assets and liabilities; interest rate risks (including the impacts of interest rates on macroeconomic conditions, and on our net interest income), sensitivities and the shape of the yield curve; changes in accounting policies, rules and practices; changes in retail distribution strategies, customer preferences and behavior generally and as a result of economic factors, including heightened or persistent inflation; changes in the availability and cost of credit and capital in the financial markets; changes in the prices, values and sales volumes of residential and commercial real estate, especially as they relate to the value of collateral supporting the Company’s loans; the Company’s concentration in commercial real estate loans and in real estate collateral in Florida; Seacoast’s ability to comply with any regulatory requirements and the risk that the regulatory environment may not be conducive to or may prohibit or delay the consummation of future mergers and/or business combinations, may increase the length of time and amount of resources required to consummate such transactions, and may reduce the anticipated benefit; inaccuracies or other failures from the use of models, including the failure of assumptions and estimates, as well as differences in, and changes to, economic, market and credit conditions; the impact on the valuation of Seacoast’s investments due to market volatility or counterparty payment risk, as well as the effect of a decline in stock market prices on our fee income from our wealth management business; statutory and regulatory dividend restrictions; increases in regulatory capital requirements for banking organizations generally; the risks of mergers, acquisitions and divestitures, including Seacoast’s ability to continue to identify acquisition targets, successfully acquire and integrate desirable financial institutions and realize expected revenues and revenue synergies, and limit deposit, customer and employee attrition; changes in technology or products that may be more difficult, costly, or less effective than anticipated; the Company’s ability to identify and address increased cybersecurity risks, including those impacting vendors and other third parties which may be exacerbated by developments in generative artificial intelligence; fraud or misconduct by internal or external parties, which Seacoast may not be able to prevent, detect or mitigate; inability of Seacoast’s risk management framework to manage risks associated with the Company’s business; dependence on key suppliers or vendors to obtain equipment or services for the business on acceptable terms; reduction in or the termination of Seacoast’s ability to use the online- or mobile-based platform that is critical to the Company’s business growth strategy; the effects of war or other conflicts, civil unrest, acts of terrorism, natural disasters, including hurricanes in the Company’s footprint, health emergencies, epidemics or pandemics, or other catastrophic events that may affect general economic conditions and/or increase costs, including, but not limited to, property and casualty and other insurance costs; Seacoast’s ability to maintain adequate internal controls over financial reporting; potential claims, damages, penalties, fines, costs and reputational damage resulting from pending or future litigation, regulatory proceedings and enforcement actions; the risks that deferred tax assets could be reduced if estimates of future taxable income from the Company’s operations and tax planning strategies are less than currently estimated, the results of tax audit findings, challenges to our tax positions, or adverse changes or interpretations of tax laws; the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, non-bank financial technology providers, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions; the failure of assumptions underlying the establishment of reserves for expected credit losses; risks related to, and the costs associated with, environmental, social and governance matters, including the scope and pace of related rulemaking activity and disclosure requirements; legislative, regulatory or supervisory actions related to so-called “de-banking,” including any new prohibitions, requirements or enforcement priorities that could affect customer relationships, compliance obligations, or operational practices; government actions or inactions, including, a deterioration of the credit rating for U.S. long-term sovereign debt, actions that the U.S. government may take to avoid exceeding the debt ceiling, and uncertainties surrounding the federal budget and economic policy, including the impact of tariffs and trade policies; the risk that balance sheet, revenue growth, and loan growth expectations may differ from actual results; and other factors and risks described herein and under “Risk Factors” in any of the Company's subsequent reports filed with the SEC and available on its website at www.sec.gov.
All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in the Company’s annual report on Form 10-K for the year ended December 31, 2024 and in other periodic reports that the Company files with the SEC. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at www.sec.gov.
| Quarterly Trends | Twelve months ended |
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| FINANCIAL HIGHLIGHTS | (Unaudited) | | | |
| SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES | | |
| (Amounts in thousands, except ratios and per share data) | 4Q'25 | 3Q'25 | 2Q'25 | 1Q'25 | 4Q'24 | 4Q'25 | 4Q'24 |
| Summary of Earnings | | | | | | | |
| Net income | $34,260 | $36,467 | $42,687 | $31,464 | $34,085 | $144,878 | $120,986 |
| Adjusted net income | 47,741 | 45,164 | 44,466 | 32,102 | 40,556 | 169,473 | 132,476 |
| Net interest income | 176,244 | 133,906 | 127,295 | 118,857 | 116,115 | 556,308 | 433,045 |
| Net interest margin | 3.66% | 3.57% | 3.58% | 3.48% | 3.39% | 3.58% | 3.24% |
| Pre-tax pre-provision earnings | $75,141 | $55,887 | $60,236 | $50,590 | $47,858 | $241,860 | $174,173 |
| Adjusted pre-tax pre-provision earnings | 93,170 | 67,190 | 62,627 | 51,686 | 56,610 | 274,679 | 190,003 |
| Performance Ratios | | | | | | | |
| Return on average assets-GAAP basis | 0.64% | 0.88% | 1.08% | 0.83% | 0.89% | 0.84% | 0.81% |
| Adjusted return on average assets | 0.89 | 1.09 | 1.13 | 0.85 | 1.06 | 0.98 | 0.89 |
| Return on average tangible assets-GAAP basis | 0.83 | 1.04 | 1.24 | 0.98 | 1.06 | 1.01 | 0.98 |
| Adjusted return on average tangible assets1,3,4,6 | 1.10 | 1.26 | 1.29 | 1.00 | 1.24 | 1.16 | 1.06 |
| Net adjusted noninterest expense to average tangible assets1,3,4 | 2.01 | 2.16 | 2.25 | 2.33 | 2.19 | 2.17 | 2.20 |
| Return on average equity-GAAP basis | 4.43 | 6.17 | 7.60 | 5.76 | 6.16 | 5.86 | 5.62 |
| Adjusted return on average equity | 6.17 | 7.64 | 7.92 | 5.88 | 7.32 | 6.86 | 6.16 |
| Return on average tangible equity-GAAP basis | 9.05 | 10.70 | 12.82 | 10.17 | 10.90 | 10.58 | 10.39 |
| Adjusted return on average tangible equity1,3,4 | 11.96 | 12.98 | 13.31 | 10.35 | 12.74 | 12.16 | 11.25 |
| Efficiency ratio | 63.36 | 64.44 | 60.33 | 64.05 | 60.21 | 63.07 | 65.18 |
| Adjusted efficiency ratio | 54.50 | 57.63 | 58.74 | 63.30 | 60.01 | 58.13 | 63.77 |
| Noninterest income to total revenue (excluding securities gains/losses) | 14.05 | 15.59 | 16.18 | 15.65 | 18.02 | 15.26 | 17.47 |
| Tangible equity to tangible assets | 9.31 | 9.76 | 9.75 | 9.58 | 9.60 | 9.31 | 9.60 |
| Average loan-to-deposit ratio | 73.60 | 82.99 | 85.21 | 84.23 | 83.14 | 80.85 | 83.63 |
| End of period loan-to-deposit ratio | 77.78 | 83.84 | 84.96 | 83.17 | 84.27 | 77.78 | 84.27 |
| Per Share Data | | | | | | | |
| Earnings per common share-diluted-GAAP basis | $0.31 | $0.42 | $0.50 | $0.37 | $0.40 | $1.57 | $1.42 |
| Earnings per common share-basic-GAAP basis | 0.32 | 0.42 | 0.50 | 0.37 | 0.40 | 1.59 | 1.43 |
| Earnings per common share-diluted, treating all preferred shares as common | 0.31 | 0.42 | 0.50 | 0.37 | 0.40 | 1.58 | 1.42 |
| Adjusted earnings per common share-diluted, treating all preferred shares as common | 0.44 | 0.52 | 0.52 | 0.38 | 0.48 | 1.84 | 1.56 |
| Book value per common share | 27.70 | 27.07 | 26.43 | 26.04 | 25.51 | 27.70 | 25.51 |
| Book value per common share, treating all preferred shares as common | 27.99 | 27.07 | 26.43 | 26.04 | 25.51 | 27.99 | 25.51 |
| Tangible book value per common share | 15.14 | 17.61 | 17.19 | 16.71 | 16.12 | 15.14 | 16.12 |
| Tangible book value per common share, treating all preferred shares as common | 16.72 | 17.61 | 17.19 | 16.71 | 16.12 | 16.72 | 16.12 |
| Cash dividends declared on common and preferred stock | 0.19 | 0.18 | 0.18 | 0.18 | 0.18 | 0.73 | 0.72 |
| Other Data | | | | | | | |
| Full-time equivalent employees | 1,962 | 1,601 | 1,522 | 1,518 | 1,504 | 1,962 | 1,504 |
| Number of ATMs | 191 | 103 | 98 | 98 | 96 | 191 | 96 |
| Full-service banking offices | 104 | 84 | 79 | 79 | 77 | 104 | 77 |
| Non-GAAP measure - see "Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP. | |
| Calculated on a fully taxable equivalent basis using amortized cost. | |
| These ratios are stated on an annualized basis and are not necessarily indicative of future periods. | |
| The Company defines tangible assets as total assets less intangible assets and tangible equity as total shareholders' equity less intangible assets. |
| Defined as noninterest expense less provision for credit losses on unfunded commitments and gains, losses, and expenses on foreclosed properties divided by net operating revenue (net interest income on a fully taxable equivalent basis plus noninterest income excluding securities gains and losses). Prior to the fourth quarter of 2025, the Company's presentation of the efficiency ratio excluded amortization expense on intangible assets. Prior periods have been updated to align with the current presentation. |
| Calculated treating all preferred shares as common. Each 1/1000preferred share is convertible to one common share on the date a holder of preferred stock transfers such share of preferred stock to a non-affiliate of the holder. The Company believes a calculation presenting all convertible preferred shares as common provides useful supplemental information to the presentation of common share measures, as we anticipate they will be converted to common shares in the future. |
| In the fourth quarter of 2025, non-voting preferred shares were issued in connection with the VBI acquisition. Those shares earn dividends pro-rata with common shares, or $0.19 per 1/1000 preferred share. |
| Quarterly Trends | Twelve months ended |
|---|
| CONSOLIDATED STATEMENTS OF INCOME | | (Unaudited) | | | |
| SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES | | | |
| (Amounts in thousands, except per share data) | 4Q'25 | 3Q'25 | 2Q'25 | 1Q'25 | 4Q'24 | 4Q'25 | 4Q'24 |
| Interest and dividends on securities: | | | | | | | |
| Taxable | $53,445 | $35,975 | $32,479 | $29,381 | $26,945 | $151,280 | $99,456 |
| Nontaxable | 3,293 | 44 | 33 | 34 | 34 | 3,404 | 135 |
| Interest and fees on loans | 187,408 | 161,913 | 157,075 | 150,640 | 151,999 | 657,036 | 597,366 |
| Interest on interest-bearing deposits and other investments | 11,914 | 4,780 | 3,760 | 4,200 | 6,952 | 24,654 | 28,602 |
| Total Interest Income | 256,060 | 202,712 | 193,347 | 184,255 | 185,930 | 836,374 | 725,559 |
| Interest on deposits | 49,988 | 43,133 | 40,633 | 43,626 | 47,394 | 177,380 | 198,210 |
| Interest on time certificates | 20,914 | 16,341 | 15,120 | 14,973 | 16,726 | 67,348 | 70,777 |
| Interest on borrowed money | 10,531 | 9,770 | 10,730 | 7,139 | 6,006 | 38,170 | 24,601 |
| Total Interest Expense | 81,433 | 69,244 | 66,483 | 65,738 | 70,126 | 282,898 | 293,588 |
| Net Interest Income | 174,627 | 133,468 | 126,864 | 118,517 | 115,804 | 553,476 | 431,971 |
| Provision for credit losses | 29,260 | 8,371 | 4,379 | 9,250 | 3,699 | 51,260 | 16,258 |
| Net Interest Income After Provision for Credit Losses | 145,367 | 125,097 | 122,485 | 109,267 | 112,105 | 502,216 | 415,713 |
| Noninterest income: | | | | | | | |
| Service charges on deposit accounts | 6,472 | 6,194 | 5,540 | 5,180 | 5,138 | 23,386 | 20,852 |
| Wealth management income | 5,540 | 4,578 | 4,196 | 4,248 | 4,019 | 18,562 | 15,168 |
| Mortgage banking income | 3,108 | 517 | 685 | 404 | 326 | 4,714 | 1,774 |
| Interchange income | 2,483 | 2,008 | 1,895 | 1,807 | 1,860 | 8,193 | 7,599 |
| Insurance agency income | 1,191 | 1,481 | 1,289 | 1,620 | 1,151 | 5,581 | 5,196 |
| BOLI income | 2,687 | 3,875 | 3,380 | 2,468 | 2,627 | 12,410 | 10,065 |
| Other | 7,066 | 6,006 | 7,497 | 6,257 | 10,335 | 26,826 | 30,790 |
| Total Noninterest Income Before Securities Gains (Losses) | 28,547 | 24,659 | 24,482 | 21,984 | 25,456 | 99,672 | 91,444 |
| Securities gains (losses), net | 84 | (841) | 39 | 196 | (8,388) | (522) | (8,016) |
| Total Noninterest Income | 28,631 | 23,818 | 24,521 | 22,180 | 17,068 | 99,150 | 83,428 |
| Noninterest expense: | | | | | | | |
| Salaries and wages | 53,942 | 46,310 | 44,438 | 42,248 | 42,378 | 186,938 | 162,316 |
| Employee benefits | 8,490 | 7,387 | 8,106 | 8,861 | 6,548 | 32,844 | 28,253 |
| Outsourced data processing costs | 11,257 | 9,337 | 8,525 | 8,504 | 8,307 | 37,623 | 36,638 |
| Occupancy | 9,330 | 7,627 | 7,483 | 7,350 | 7,234 | 31,790 | 29,547 |
| Furniture and equipment | 2,935 | 2,233 | 2,125 | 2,128 | 2,004 | 9,421 | 8,031 |
| Marketing | 3,149 | 2,509 | 2,958 | 2,748 | 2,126 | 11,364 | 10,776 |
| Legal and professional fees | 2,106 | 1,674 | 2,071 | 2,740 | 2,807 | 8,591 | 9,648 |
| FDIC assessments | 2,876 | 2,414 | 2,108 | 2,194 | 2,274 | 9,592 | 8,445 |
| Amortization of intangibles | 10,374 | 6,005 | 5,131 | 5,309 | 5,587 | 26,819 | 23,884 |
| Other real estate owned expense and net (gain) loss on sale | (29) | (346) | 8 | 241 | 84 | (126) | 440 |
| Provision for credit losses on unfunded commitments | 812 | 150 | 150 | 150 | 250 | 1,262 | 1,001 |
| Merger and integration costs | 18,142 | 10,808 | 2,422 | 1,051 | - | 32,423 | - |
| Other | 7,162 | 5,879 | 6,205 | 7,073 | 5,976 | 26,319 | 24,322 |
| Total Noninterest Expense | 130,546 | 101,987 | 91,730 | 90,597 | 85,575 | 414,860 | 343,301 |
| Income Before Income Taxes | 43,452 | 46,928 | 55,276 | 40,850 | 43,598 | 186,506 | 155,840 |
| Provision for income taxes | 9,192 | 10,461 | 12,589 | 9,386 | 9,513 | 41,628 | 34,854 |
| Net Income | 34,260 | 36,467 | 42,687 | 31,464 | 34,085 | 144,878 | 120,986 |
| Preferred stock dividends | 2,138 | - | - | - | - | 2,138 | - |
| Net Income Available to Common Shareholders | $32,122 | $36,467 | $42,687 | $31,464 | $34,085 | $142,740 | $120,986 |
| Share Data | | | | | | | |
| Net income per share of common stock | | | | | | | |
| Diluted | $0.31 | $0.42 | $0.50 | $0.37 | $0.40 | $1.57 | $1.42 |
| Diluted, treating all preferred shares as common | 0.31 | 0.42 | 0.50 | 0.37 | 0.40 | 1.58 | 1.42 |
| Basic | 0.32 | 0.42 | 0.50 | 0.37 | 0.40 | 1.59 | 1.43 |
| Average common shares outstanding | | | | | | | |
| Diluted | 97,761 | 87,425 | 85,479 | 85,388 | 85,302 | 89,106 | 85,040 |
| Additional common shares treating all preferred shares as common | 11,250 | - | - | - | - | 2,836 | - |
| Diluted, treating all preferred shares as common | 109,011 | 87,425 | 85,479 | 85,388 | 85,302 | 91,941 | 85,040 |
| Basic | 96,816 | 86,619 | 84,903 | 84,648 | 84,510 | 88,276 | 84,367 |
| Non-GAAP measure - see "Explanation of Certain Unaudited Non-GAAP Financial Measures" and "Presentation of Common and Preferred Shares" for more information and a reconciliation to GAAP. | |
| December 31, | September 30, | June 30, | March 31, | December 31, |
|---|
| CONSOLIDATED BALANCE SHEETS | | | (Unaudited) | |
| SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES | |
| (Amounts in thousands) | | 2025 | | 2025 | | 2025 | | 2025 | | 2024 |
| Assets | | | | | |
| Cash and due from banks | $181,429 | | $173,954 | | $181,565 | | $191,467 | | $171,615 | |
| Interest-bearing deposits with other banks | 207,116 | | 132,040 | | 150,863 | | 309,105 | | 304,992 | |
| Total cash and cash equivalents | 388,545 | | 305,994 | | 332,428 | | 500,572 | | 476,607 | |
| Time deposits with other banks | 14,424 | | 30,852 | | 1,494 | | 1,494 | | 3,215 | |
| Debt Securities: | | | | | |
| Securities available-for-sale (at fair value) | 5,164,567 | | 3,212,080 | | 2,866,185 | | 2,627,959 | | 2,226,543 | |
| Securities held-to-maturity (at amortized cost) | 586,178 | | 598,604 | | 613,312 | | 624,650 | | 635,186 | |
| Total debt securities | 5,750,745 | | 3,810,684 | | 3,479,497 | | 3,252,609 | | 2,861,729 | |
| Loans held for sale | 16,297 | | 10,841 | | 8,610 | | 16,016 | | 17,277 | |
| Loans | 12,627,984 | | 10,964,173 | | 10,608,824 | | 10,443,021 | | 10,299,950 | |
| Less: Allowance for credit losses | (178,803) | | (147,453) | | (142,184) | | (140,267) | | (138,055) | |
| Loans, net of allowance for credit losses | 12,449,181 | | 10,816,720 | | 10,466,640 | | 10,302,754 | | 10,161,895 | |
| Bank premises and equipment, net | 160,139 | | 115,392 | | 107,256 | | 108,478 | | 107,555 | |
| Other real estate owned | 4,250 | | 5,085 | | 5,335 | | 7,176 | | 6,421 | |
| Goodwill | 1,034,735 | | 754,645 | | 732,417 | | 732,417 | | 732,417 | |
| Other intangible assets, net | 195,704 | | 76,291 | | 61,328 | | 66,372 | | 71,723 | |
| Bank owned life insurance | 330,563 | | 323,214 | | 312,860 | | 311,453 | | 308,995 | |
| Net deferred tax assets | 66,579 | | 74,683 | | 87,328 | | 93,595 | | 102,989 | |
| Other assets | 431,169 | | 352,503 | | 349,762 | | 339,549 | | 325,485 | |
| Total Assets | $20,842,331 | | $16,676,904 | | $15,944,955 | | $15,732,485 | | $15,176,308 | |
| Liabilities | | | | | |
| Deposits | | | | | |
| Noninterest demand | $3,897,985 | | $3,611,920 | | $3,376,941 | | $3,492,491 | | $3,352,372 | |
| Interest-bearing demand | 3,993,225 | | 2,753,463 | | 2,518,857 | | 2,734,260 | | 2,667,843 | |
| Savings | 974,694 | | 615,566 | | 557,472 | | 534,991 | | 519,977 | |
| Money market | 5,141,519 | | 4,396,458 | | 4,111,789 | | 4,154,682 | | 4,086,362 | |
| Time deposits | 2,248,920 | | 1,712,912 | | 1,932,539 | | 1,658,372 | | 1,615,873 | |
| Total Deposits | 16,256,343 | | 13,090,319 | | 12,497,598 | | 12,574,796 | | 12,242,427 | |
| Securities sold under agreements to repurchase | 389,003 | | 236,247 | | 186,090 | | 201,128 | | 232,071 | |
| Federal Home Loan Bank borrowings | 835,000 | | 690,000 | | 715,000 | | 465,000 | | 245,000 | |
| Long-term debt, net | 112,761 | | 107,464 | | 107,298 | | 107,132 | | 106,966 | |
| Other liabilities | 193,437 | | 174,742 | | 167,404 | | 154,689 | | 166,601 | |
| Total Liabilities | 17,786,544 | | 14,298,772 | | 13,673,390 | | 13,502,745 | | 12,993,065 | |
| Shareholders' Equity | | | | | |
| Preferred stock | 343,125 | | - | | - | | - | | - | |
| Common stock | 9,873 | | 8,864 | | 8,673 | | 8,633 | | 8,628 | |
| Additional paid in capital | 2,197,549 | | 1,891,111 | | 1,832,158 | | 1,828,234 | | 1,824,935 | |
| Retained earnings | 603,793 | | 590,384 | | 569,833 | | 542,665 | | 526,642 | |
| Less: Treasury stock | (21,358) | | (20,804) | | (20,792) | | (19,072) | | (19,095) | |
| Total Shareholders' Equity Before Accumulated Other Comprehensive Loss | 3,132,982 | | 2,469,555 | | 2,389,872 | | 2,360,460 | | 2,341,110 | |
| Accumulated other comprehensive loss, net | (77,195) | | (91,423) | | (118,307) | | (130,720) | | (157,867) | |
| Total Shareholders' Equity | 3,055,787 | | 2,378,132 | | 2,271,565 | | 2,229,740 | | 2,183,243 | |
| Total Liabilities & Shareholders' Equity | $20,842,331 | | $16,676,904 | | $15,944,955 | | $15,732,485 | | $15,176,308 | |
| Common shares outstanding | 97,928 | | 87,856 | | 85,948 | | 85,618 | | 85,568 | |
| Series A convertible preferred shares, treating as common | 11,250 | | - | | - | | - | | - | |
| Total common shares outstanding, treating all preferred shares as common | 109,178 | | 87,856 | | 85,948 | | 85,618 | | 85,568 | |
| Each 1/1000th preferred share is convertible to one common share on the date a holder of preferred stock transfers such share of preferred stock to a non-affiliate of the holder. | |
| PRESENTATION OF COMMON AND PREFERRED SHARES | (Unaudited) | |
| SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES | |
| In the acquisition of Villages Bancorporation, Inc. ("VBI") on October 1, 2025, Seacoast issued to VBI shareholders the following: | | October 1, 2025 |
| SBCF common shares | | 9,923,263 |
| SBCF Series A non-voting convertible preferred shares | | 11,250 |
| Each 1/1000th preferred share is convertible to one common share on the date a holder of preferred stock transfers such share of preferred stock to a non-affiliate of the holder. | | |
| SBCF common shares upon conversion of Series A convertible preferred shares | | 11,250,000 |
| Additional performance measures are presented herein to include the treatment of preferred shares as common. | | |
| Outstanding shares at period end: | | December 31, 2025 |
| Common shares | | 97,927,843 |
| Series A convertible preferred shares | | 11,250 |
| Total common shares outstanding, treating all preferred shares as common | | 109,177,843 |
| Average common shares outstanding: | 4Q'25 | FY2025 |
| Average common shares - basic | 96,816,460 | 88,275,748 |
| Dilutive effect of employee restricted stock and stock options | 944,688 | 829,953 |
| Average common shares - diluted | 97,761,148 | 89,105,701 |
| Additional common shares, treating all preferred shares as common | 11,250,000 | 2,835,616 |
| Average common shares - diluted, treating all preferred shares as common | 109,011,148 | 91,941,317 |
| Series A non-voting convertible preferred shares earn dividends pro-rata with common shares, or $0.19 per 1/1000 preferred share. |
| (Amounts in thousands, except per share data) | 4Q'25 | FY2025 |
| Net Income | $34,260 | $144,878 |
| Less preferred stock dividends | (2,138) | (2,138) |
| Net income available to common shareholders | 32,122 | 142,740 |
| Less allocation of earnings to preferred stock | (1,429) | (2,434) |
| Net income available to common shareholders after allocation of earnings to preferred stock | $30,693 | $140,306 |
| Net income available to common shareholders after allocation of earnings to preferred stock | $30,693 | $140,306 |
| Average common shares - diluted | 97,761 | 89,106 |
| Earnings per common share - diluted | $0.31 | $1.57 |
| Net Income | $34,260 | $144,878 |
| Average common shares - diluted, treating all preferred shares as common | 109,011 | 91,941 |
| Earnings per common share - diluted, treating all preferred shares as common | $0.31 | $1.58 |
| Non-GAAP measure - see "Explanation of Certain Unaudited Non-GAAP Financial Measures" and "Presentation of Common and Preferred Shares" for more information and a reconciliation to GAAP. The Company believes a calculation presenting all convertible preferred shares as common provides useful supplemental information to the presentation of common share measures, as we anticipate they will be converted to common shares in the future. |
| Quarterly Trends |
|---|
| CONSOLIDATED QUARTERLY FINANCIAL DATA | (Unaudited) | |
| SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES |
| (Amounts in thousands) | 4Q'25 | 3Q'25 | 2Q'25 | 1Q'25 | 4Q'24 |
| Credit Analysis | | | | | |
| Net charge-offs | $936 | $3,208 | $2,462 | $7,038 | $6,113 |
| Net charge-offs to average loans | 0.03% | 0.12% | 0.09% | 0.27% | 0.24% |
| Allowance for credit losses | $178,803 | $147,453 | $142,184 | $140,267 | $138,055 |
| Non-acquired loans at end of period | 9,067,802 | 8,415,612 | 8,071,619 | 7,752,532 | 7,452,175 |
| Acquired loans at end of period | 3,560,182 | 2,548,561 | 2,537,205 | 2,690,489 | 2,847,775 |
| Total Loans | $12,627,984 | $10,964,173 | $10,608,824 | $10,443,021 | $10,299,950 |
| Total allowance for credit losses to total loans at end of period | 1.42% | 1.34% | 1.34% | 1.34% | 1.34% |
| Purchase discount on acquired loans at end of period | 4.04 | 3.86 | 4.10 | 4.25 | 4.30 |
| End of Period | | | | | |
| Nonperforming loans | $72,001 | $60,562 | $64,198 | $71,018 | $92,446 |
| Other real estate owned | 859 | 221 | 351 | 1,820 | 933 |
| Properties previously used in bank operations included in other real estate owned | 3,391 | 4,864 | 4,984 | 5,356 | 5,488 |
| Total Nonperforming Assets | $76,251 | $65,647 | $69,533 | $78,194 | $98,867 |
| Nonperforming Loans to Loans at End of Period | 0.57% | 0.55% | 0.61% | 0.68% | 0.90% |
| Nonperforming Assets to Total Assets at End of Period | 0.37 | 0.39 | 0.44 | 0.50 | 0.65 |
| Loans | December 31, 2025 | September 30, 2025 | June 30, 2025 | March 31, 2025 | December 31, 2024 |
| Construction and land development | $723,930 | $616,475 | $603,079 | $618,493 | $648,053 |
| Commercial real estate - owner occupied | 2,043,625 | 1,898,704 | 1,778,930 | 1,713,579 | 1,686,629 |
| Commercial real estate - non-owner occupied | 4,254,992 | 3,766,541 | 3,624,528 | 3,513,400 | 3,503,808 |
| Residential real estate | 3,098,859 | 2,694,794 | 2,678,042 | 2,653,012 | 2,616,785 |
| Commercial and financial | 2,320,989 | 1,807,932 | 1,741,158 | 1,753,090 | 1,651,354 |
| Consumer | 185,589 | 179,727 | 183,087 | 191,447 | 193,321 |
| Total Loans | $12,627,984 | $10,964,173 | $10,608,824 | $10,443,021 | $10,299,950 |
| 4Q'25 | 3Q'25 | 4Q'24 |
|---|
| Average | | Yield/ | Average | | Yield/ | Average | | Yield/ |
|---|
| AVERAGE BALANCES, INTEREST INCOME AND EXPENSES, YIELDS AND RATES | | (Unaudited) |
| SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES |
| (Amounts in thousands) | Balance | Interest | Rate | Balance | Interest | Rate | Balance | Interest | Rate |
| Assets | | | | | | | | | |
| Earning assets: | | | | | | | | | |
| Securities: | | | | | | | | | |
| Taxable | $5,239,026 | $53,445 | 4.05% | $3,644,261 | $35,975 | 3.92% | $2,843,755 | $26,945 | 3.77% |
| Nontaxable | 314,355 | 4,407 | 5.56 | 6,752 | 54 | 3.17 | 5,795 | 41 | 2.81 |
| Total Securities | 5,553,381 | 57,852 | 4.13 | 3,651,013 | 36,029 | 3.92 | 2,849,550 | 26,986 | 3.77 |
| Federal funds sold | 987,626 | 9,828 | 3.95 | 258,779 | 2,896 | 4.44 | 470,154 | 5,690 | 4.81 |
| Interest-bearing deposits with other banks and other investments | 194,680 | 2,086 | 4.25 | 166,683 | 1,884 | 4.48 | 102,961 | 1,262 | 4.88 |
| Total Loans, net | 12,374,373 | 187,910 | 6.02 | 10,805,143 | 162,341 | 5.96 | 10,214,493 | 152,303 | 5.93 |
| Total Earning Assets | 19,110,060 | 257,676 | 5.35% | 14,881,618 | 203,150 | 5.42% | 13,637,158 | 186,241 | 5.43% |
| Allowance for credit losses | (173,790) | | | (144,051) | | | (140,409) | | |
| Cash and due from banks | 153,584 | | | 166,884 | | | 167,197 | | |
| Bank premises and equipment, net | 161,761 | | | 114,719 | | | 108,589 | | |
| Intangible assets | 1,226,495 | | | 827,294 | | | 806,710 | | |
| Bank owned life insurance | 328,830 | | | 321,754 | | | 307,256 | | |
| Other assets including deferred tax assets | 396,451 | | | 317,799 | | | 317,540 | | |
| Total Assets | $21,203,391 | | | $16,486,017 | | | $15,204,041 | | |
| Liabilities and Shareholders' Equity | | | | | | | | | |
| Interest-bearing liabilities: | | | | | | | | | |
| Interest-bearing demand | $4,143,038 | $13,840 | 1.33% | $2,671,750 | $10,623 | 1.58% | $2,581,733 | $11,843 | 1.82% |
| Savings | 966,266 | 1,265 | 0.52 | 617,479 | 1,111 | 0.71 | 521,682 | 582 | 0.44 |
| Money market | 5,250,174 | 34,883 | 2.64 | 4,362,662 | 31,393 | 2.85 | 4,078,714 | 34,969 | 3.41 |
| Time deposits | 2,367,485 | 20,914 | 3.50 | 1,826,068 | 16,341 | 3.55 | 1,686,004 | 16,726 | 3.95 |
| Securities sold under agreements to repurchase | 395,271 | 2,280 | 2.29 | 224,328 | 1,359 | 2.40 | 209,909 | 1,584 | 3.00 |
| Federal Home Loan Bank borrowings | 623,750 | 6,711 | 4.27 | 637,826 | 6,703 | 4.17 | 245,000 | 2,625 | 4.26 |
| Long-term debt, net and other | 108,459 | 1,540 | 5.63 | 107,372 | 1,714 | 6.33 | 106,881 | 1,797 | 6.69 |
| Total Interest-Bearing Liabilities | 13,854,443 | 81,433 | 2.33% | 10,447,485 | 69,244 | 2.63% | 9,429,923 | 70,126 | 2.96% |
| Noninterest demand | 4,086,062 | | | 3,541,749 | | | 3,417,539 | | |
| Other liabilities | 195,553 | | | 151,550 | | | 153,527 | | |
| Total Liabilities | 18,136,058 | | | 14,140,784 | | | 13,000,989 | | |
| Shareholders' equity | 3,067,333 | | | 2,345,233 | | | 2,203,052 | | |
| Total Liabilities & Equity | $21,203,391 | | | $16,486,017 | | | $15,204,041 | | |
| Cost of deposits | | | 1.67% | | | 1.81% | | | 2.08% |
| Cost of funds | | | 1.80 | | | 1.96 | | | 2.17 |
| Interest expense as a % of earning assets | | | 1.69 | | | 1.85 | | | 2.05 |
| Net interest income as a % of earning assets | | $176,243 | 3.66% | | $133,906 | 3.57% | | $116,115 | 3.39% |
| On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost. | | |
| Fees on loans have been included in interest on loans. Nonaccrual loans are included in loan balances. | | |
| Total interest expense as a percentage of total interest-bearing liabilities and noninterest demand deposits. | | |
| Twelve Months Ended December 31, 2025 | Twelve Months Ended December 31, 2024 |
|---|
| Average | | Yield/ | Average | | Yield/ |
|---|
| AVERAGE BALANCES, INTEREST INCOME AND EXPENSES, YIELDS AND RATES | | (Unaudited) | | |
| SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES | | | | |
| (Amounts in thousands, except ratios) | Balance | Interest | Rate | Balance | Interest | Rate |
| Assets | | | | | | |
| Earning assets: | | | | | | |
| Securities: | | | | | | |
| Taxable | $3,835,729 | $151,280 | 3.94% | $2,702,763 | $99,456 | 3.68% |
| Nontaxable | 83,604 | 4,543 | 5.43 | 5,707 | 164 | 2.87 |
| Total Securities | 3,919,333 | 155,823 | 3.98 | 2,708,470 | 99,620 | 3.68 |
| Federal funds sold | 425,320 | 17,710 | 4.16 | 446,149 | 23,619 | 5.29 |
| Interest-bearing deposits with other banks and other investments | 151,359 | 6,944 | 4.59 | 102,552 | 4,983 | 4.86 |
| Total Loans, net | 11,035,340 | 658,728 | 5.97 | 10,096,189 | 598,411 | 5.93 |
| Total Earning Assets | 15,531,352 | 839,205 | 5.40% | 13,353,360 | 726,633 | 5.44% |
| Allowance for credit losses | (149,478) | | | (144,280) | | |
| Cash and due from banks | 157,955 | | | 167,367 | | |
| Bank premises and equipment, net | 123,456 | | | 110,341 | | |
| Intangible assets | 913,906 | | | 815,945 | | |
| Bank owned life insurance | 318,261 | | | 303,486 | | |
| Other assets including deferred tax assets | 340,007 | | | 327,539 | | |
| Total Assets | $17,235,459 | | | $14,933,758 | | |
| Liabilities and Shareholders' Equity | | | | | | |
| Interest-bearing liabilities: | | | | | | |
| Interest-bearing demand | $3,038,889 | $45,781 | 1.51% | $2,614,893 | $54,960 | 2.10% |
| Savings | 665,860 | 3,955 | 0.59 | 570,046 | 2,283 | 0.40 |
| Money market | 4,473,830 | 127,644 | 2.85 | 3,775,352 | 140,967 | 3.73 |
| Time deposits | 1,887,214 | 67,348 | 3.57 | 1,656,269 | 70,777 | 4.27 |
| Securities sold under agreements to repurchase | 252,168 | 6,210 | 2.46 | 269,255 | 9,390 | 3.49 |
| Federal Home Loan Bank borrowings | 592,946 | 25,294 | 4.27 | 183,962 | 7,726 | 4.20 |
| Long-term debt, net and other | 107,523 | 6,666 | 6.20 | 106,624 | 7,485 | 7.02 |
| Total Interest-Bearing Liabilities | 11,018,430 | 282,898 | 2.57% | 9,176,401 | 293,588 | 3.20% |
| Noninterest demand | 3,582,837 | | | 3,455,907 | | |
| Other liabilities | 162,256 | | | 149,389 | | |
| Total Liabilities | 14,763,523 | | | 12,781,697 | | |
| Shareholders' equity | 2,471,936 | | | 2,152,061 | | |
| Total Liabilities & Equity | $17,235,459 | | | $14,933,758 | | |
| Cost of deposits | | | 1.79% | | | 2.23% |
| Cost of funds | | | 1.94 | | | 2.32 |
| Interest expense as a % of earning assets | | | 1.82 | | | 2.20 |
| Net interest income as a % of earning assets | | $556,307 | 3.58% | | $433,045 | 3.24% |
| On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost. |
| Fees on loans have been included in interest on loans. Nonaccrual loans are included in loan balances. |
| Total interest expense as a percentage of total interest-bearing liabilities and noninterest demand deposits. |
| December 31, | September 30, | June 30, | March 31, | December 31, |
|---|
| CONSOLIDATED QUARTERLY FINANCIAL DATA | (Unaudited) | | |
| SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES | |
| (Amounts in thousands) | | 2025 | | 2025 | | 2025 | | 2025 | | 2024 |
| Customer Relationship Funding | | | | | |
| Noninterest demand | | | | | |
| Commercial | $3,053,115 | | $2,933,228 | | $2,717,688 | | $2,830,497 | | $2,621,469 | |
| Retail | 672,779 | | 508,204 | | 509,539 | | 536,661 | | 502,967 | |
| Public funds | 112,548 | | 96,396 | | 81,448 | | 64,184 | | 177,742 | |
| Other | 59,543 | | 74,092 | | 68,266 | | 61,149 | | 50,194 | |
| Total Noninterest Demand | 3,897,985 | | 3,611,920 | | 3,376,941 | | 3,492,491 | | 3,352,372 | |
| Interest-bearing demand | | | | | |
| Commercial | 1,534,289 | | 1,586,997 | | 1,466,184 | | 1,520,186 | | 1,467,508 | |
| Retail | 2,047,462 | | 976,318 | | 838,340 | | 881,282 | | 881,236 | |
| Brokered | - | | - | | - | | - | | 49,287 | |
| Public funds | 411,474 | | 190,148 | | 214,333 | | 332,792 | | 269,812 | |
| Total Interest-Bearing Demand | 3,993,225 | | 2,753,463 | | 2,518,857 | | 2,734,260 | | 2,667,843 | |
| Total transaction accounts | | | | | |
| Commercial | 4,587,404 | | 4,520,225 | | 4,183,872 | | 4,350,683 | | 4,088,977 | |
| Retail | 2,720,241 | | 1,484,522 | | 1,347,879 | | 1,417,943 | | 1,384,203 | |
| Brokered | - | | - | | - | | - | | 49,287 | |
| Public funds | 524,022 | | 286,544 | | 295,781 | | 396,976 | | 447,554 | |
| Other | 59,543 | | 74,092 | | 68,266 | | 61,149 | | 50,194 | |
| Total Transaction Accounts | 7,891,210 | | 6,365,383 | | 5,895,798 | | 6,226,751 | | 6,020,215 | |
| Savings | | | | | |
| Commercial | 43,189 | | 43,102 | | 45,531 | | 42,879 | | 40,303 | |
| Retail | 931,505 | | 572,464 | | 511,941 | | 492,112 | | 479,674 | |
| Total Savings | 974,694 | | 615,566 | | 557,472 | | 534,991 | | 519,977 | |
| Money market | | | | | |
| Commercial | 2,334,255 | | 2,303,584 | | 2,073,098 | | 1,999,540 | | 1,947,250 | |
| Retail | 2,584,398 | | 1,898,375 | | 1,853,398 | | 1,967,239 | | 1,925,330 | |
| Public funds | 222,866 | | 194,499 | | 185,293 | | 187,903 | | 213,782 | |
| Total Money Market | 5,141,519 | | 4,396,458 | | 4,111,789 | | 4,154,682 | | 4,086,362 | |
| Brokered time certificates | 120,865 | | 189,561 | | 515,303 | | 262,461 | | 244,351 | |
| Time deposits | 2,128,055 | | 1,523,351 | | 1,417,236 | | 1,395,911 | | 1,371,522 | |
| 2,248,920 | | 1,712,912 | | 1,932,539 | | 1,658,372 | | 1,615,873 | |
| Total Deposits | $16,256,343 | | $13,090,319 | | $12,497,598 | | $12,574,796 | | $12,242,427 | |
| Securities sold under agreements to repurchase | 389,003 | | 236,247 | | 186,090 | | 201,128 | | 232,071 | |
| Total customer funding | $16,524,481 | | $13,137,005 | | $12,168,385 | | $12,513,463 | | $12,180,860 | |
| Total deposits and securities sold under agreements to repurchase, excluding brokered deposits. Securities sold under agreements to repurchase consists of customer sweep accounts. | |
Explanation of Certain Unaudited Non-GAAP Financial Measures
This presentation contains financial information determined by methods other than Generally Accepted Accounting Principles (“GAAP”). Management uses these non-GAAP financial measures in its analysis of the Company’s performance and believes these presentations provide useful supplemental information, and a clearer understanding of the Company’s performance. The Company believes the non-GAAP measures enhance investors’ understanding of the Company’s business and performance and if not provided would be requested by the investor community. These measures are also useful in understanding performance trends and facilitate comparisons with the performance of other financial institutions. The limitations associated with operating measures are the risk that persons might disagree as to the appropriateness of items comprising these measures and that different companies might define or calculate these measures differently. The Company provides reconciliations between GAAP and these non-GAAP measures. These disclosures should not be considered an alternative to GAAP.
| Quarterly Trends | Twelve Months Ended |
|---|
| GAAP TO NON-GAAP RECONCILIATION | (Unaudited) | |
| SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES |
| (Amounts in thousands, except per share data) | 4Q'25 | 3Q'25 | 2Q'25 | 1Q'25 | 4Q'24 | 4Q'25 | 4Q'24 |
| Net Income | $34,260 | $36,467 | $42,687 | $31,464 | $34,085 | $144,878 | $120,986 |
| Total noninterest income | 28,631 | 23,818 | 24,521 | 22,180 | 17,068 | 99,150 | 83,428 |
| Securities (gains) losses, net | (84) | 841 | (39) | (196) | 8,388 | 522 | 8,016 |
| Total Adjusted Noninterest Income | 28,547 | 24,659 | 24,482 | 21,984 | 25,456 | 99,672 | 91,444 |
| Total noninterest expense | 130,546 | 101,987 | 91,730 | 90,597 | 85,575 | 414,860 | 343,301 |
| Merger and integration costs | (18,142) | (10,808) | (2,422) | (1,051) | - | (32,423) | - |
| Business continuity expenses - hurricane events | - | - | - | - | (280) | - | (280) |
| Branch reductions and other expense initiatives | - | - | - | - | - | - | (7,094) |
| Total Adjustments to Noninterest Expense | (18,142) | (10,808) | (2,422) | (1,051) | (280) | (32,423) | (7,374) |
| Adjusted Noninterest Expense | 112,404 | 91,179 | 89,308 | 89,546 | 85,295 | 382,437 | 335,927 |
| Income Taxes | 9,192 | 10,461 | 12,589 | 9,386 | 9,513 | 41,628 | 34,854 |
| Tax effect of adjustments | 4,577 | 2,952 | 604 | 217 | 2,197 | 8,350 | 3,900 |
| Adjusted Income Taxes | 13,769 | 13,413 | 13,193 | 9,603 | 11,710 | 49,978 | 38,754 |
| Adjusted Net Income | 47,741 | 45,164 | 44,466 | 32,102 | 40,556 | 169,473 | 132,476 |
| Earnings per common share-diluted, as reported | 0.31 | 0.42 | 0.50 | 0.37 | 0.40 | 1.57 | 1.42 |
| Adjusted Earnings per Common Share-Diluted | 0.44 | 0.52 | 0.52 | 0.38 | 0.48 | 1.84 | 1.56 |
| Adjusted Earnings per Common Share-Diluted, Treating all Preferred Shares as Common | $0.44 | $0.52 | $0.52 | $0.38 | $0.48 | $1.84 | $1.56 |
| Average common shares-diluted | 97,761 | 87,425 | 85,479 | 85,388 | 85,302 | 89,106 | 85,040 |
| Average preferred shares, treating all preferred shares as common | 11,250 | - | - | - | - | 2,836 | - |
| Average common shares-diluted, treating all preferred shares as common | 109,011 | 87,425 | 85,479 | 85,388 | 85,302 | 91,941 | 85,040 |
| Adjusted Noninterest Expense | $112,404 | $91,179 | $89,308 | $89,546 | $85,295 | $382,437 | $335,927 |
| Provision for credit losses on unfunded commitments | (812) | (150) | (150) | (150) | (250) | (1,262) | (1,001) |
| Other real estate owned expense and net gain (loss) on sale | 29 | 346 | (8) | (241) | (84) | 126 | (440) |
| Amortization of intangibles | (10,374) | (6,005) | (5,131) | (5,309) | (5,587) | (26,819) | (23,884) |
| Net Adjusted Noninterest Expense | 101,247 | 85,370 | 84,019 | 83,846 | 79,374 | 354,482 | 310,602 |
| Average tangible assets | $19,976,896 | $15,658,723 | $15,004,763 | $14,593,955 | $14,397,331 | $16,321,553 | $14,117,813 |
| Net Adjusted Noninterest Expense to Average Tangible Assets | 2.01% | 2.16% | 2.25% | 2.33% | 2.19% | 2.17% | 2.20% |
| Net Revenue | $203,258 | $157,286 | $151,385 | $140,697 | $132,872 | $652,626 | $515,399 |
| Total Adjustments to Net Revenue | (84) | 841 | (39) | (196) | 8,388 | 522 | 8,016 |
| Impact of FTE adjustment | 1,617 | 438 | 431 | 340 | 311 | 2,832 | 1,074 |
| Adjusted Net Revenue on a FTE basis | $204,791 | $158,565 | $151,777 | $140,841 | $141,571 | $655,980 | $524,489 |
| Adjusted Efficiency Ratio | 54.50% | 57.63% | 58.74% | 63.30% | 60.01% | 58.13% | 63.77% |
| Net Interest Income | $174,627 | $133,468 | $126,864 | $118,517 | $115,804 | $553,476 | $431,971 |
| Impact of FTE adjustment | 1,617 | 438 | 431 | 340 | 311 | 2,832 | 1,074 |
| Net Interest Income including FTE adjustment | 176,244 | 133,906 | 127,295 | 118,857 | 116,115 | 556,308 | 433,045 |
| Total noninterest income | 28,631 | 23,818 | 24,521 | 22,180 | 17,068 | 99,150 | 83,428 |
| Total noninterest expense less provision for credit losses on unfunded commitments | 129,734 | 101,837 | 91,580 | $90,447 | 85,325 | 413,598 | 342,300 |
| Pre-Tax Pre-Provision Earnings | 75,141 | 55,887 | 60,236 | 50,590 | 47,858 | 241,860 | 174,173 |
| Total Adjustments to Noninterest Income | (84) | 841 | (39) | (196) | 8,388 | 522 | 8,016 |
| Total Adjustments to Noninterest Expense including other real estate owned expense and net gain (loss) on sale | 18,113 | 10,462 | 2,430 | 1,292 | 364 | 32,297 | 7,814 |
| Adjusted Pre-Tax Pre-Provision Earnings | $93,170 | $67,190 | $62,627 | $51,686 | $56,610 | $274,679 | $190,003 |
| Quarterly Trends | Twelve Months Ended |
|---|
| GAAP TO NON-GAAP RECONCILIATION | (Unaudited) | |
| SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES |
| (Amounts in thousands, except per share data) | 4Q'25 | 3Q'25 | 2Q'25 | 1Q'25 | 4Q'24 | 4Q'25 | 4Q'24 |
| Average Assets | $21,203,391 | | $16,486,017 | | $15,801,194 | | $15,395,642 | | $15,204,041 | | $17,235,459 | | $14,933,758 | |
| Less average goodwill and intangible assets | | (1,226,495) | | (827,294) | | (796,431) | | (801,687) | | (806,710) | | (913,906) | | (815,945) |
| Average Tangible Assets | $19,976,896 | | $15,658,723 | | $15,004,763 | | $14,593,955 | | $14,397,331 | | $16,321,553 | | $14,117,813 | |
| Return on Average Assets (ROA) | 0.64% | | 0.88% | | 1.08% | | 0.83% | | 0.89% | | 0.84% | | 0.81% | |
| Impact of other adjustments for Adjusted Net Income | 0.25 | | 0.21 | | 0.05 | | 0.02 | | 0.17 | | 0.14 | | 0.08 | |
| Adjusted ROA | 0.89 | | 1.09 | | 1.13 | | 0.85 | | 1.06 | | 0.98 | | 0.89 | |
| ROA | 0.64 | | 0.88 | | 1.08 | | 0.83 | | 0.89 | | 0.84 | | 0.81 | |
| Impact of removing average intangible assets and related amortization | 0.19 | | 0.16 | | 0.16 | | 0.15 | | 0.17 | | 0.17 | | 0.17 | |
| Return on Average Tangible Assets (ROTA) | 0.83 | | 1.04 | | 1.24 | | 0.98 | | 1.06 | | 1.01 | | 0.98 | |
| Impact of other adjustments for Adjusted Net Income | 0.27 | | 0.22 | | 0.05 | | 0.02 | | 0.18 | | 0.15 | | 0.08 | |
| Adjusted ROTA | 1.10 | | 1.26 | | 1.29 | | 1.00 | | 1.24 | | 1.16 | | 1.06 | |
| Return on Average Equity (ROE) | 4.43 | | 6.17 | | 7.60 | | 5.76 | | 6.16 | | 5.86 | | 5.62 | |
| Impact of other adjustments for Adjusted Net Income | 1.75 | | 1.47 | | 0.32 | | 0.12 | | 1.16 | | 1.00 | | 0.54 | |
| Adjusted ROE | 6.17% | | 7.64% | | 7.92% | | 5.88% | | 7.32% | | 6.86% | | 6.16% | |
| Average Shareholders' Equity | $3,067,333 | | $2,345,233 | | $2,252,208 | | $2,214,995 | | $2,203,052 | | $2,471,936 | | $2,152,061 | |
| Less average goodwill and intangible assets | (1,226,495) | | (827,294) | | (796,431) | | (801,687) | | (806,710) | | (913,906) | | (815,945) | |
| Average Tangible Equity | $1,840,838 | | $1,517,939 | | $1,455,777 | | $1,413,308 | | $1,396,342 | | $1,558,030 | | $1,336,116 | |
| Return on Average Shareholders' Equity | 4.43% | | 6.17% | | 7.60% | | 5.76% | | 6.16% | | 5.86% | | 5.62% | |
| Impact of removing average intangible assets and related amortization | 4.62 | | 4.53 | | 5.22 | | 4.41 | | 4.74 | | 4.72 | | 4.77 | |
| Return on Average Tangible Equity (ROTE) | 9.05 | | 10.70 | | 12.82 | | 10.17 | | 10.90 | | 10.58 | | 10.39 | |
| Impact of other adjustments for Adjusted Net Income | 2.91 | | 2.28 | | 0.49 | | 0.18 | | 1.84 | | 1.58 | | 0.86 | |
| Adjusted ROTE | 11.96% | | 12.98% | | 13.31% | | 10.35% | | 12.74% | | 12.16% | | 11.25% | |
| Loan interest income | $187,910 | | $162,341 | | $157,499 | | $150,973 | | $152,303 | | $658,728 | | $598,411 | |
| Accretion on acquired loans | (10,645) | | (9,543) | | (10,583) | | (8,221) | | (11,717) | | (38,992) | | (41,672) | |
| Loan interest income excluding accretion on acquired loans | $177,265 | | $152,798 | | $146,916 | | $142,752 | | $140,586 | | $619,736 | | $556,739 | |
| Yield on loans | 6.02% | | 5.96% | | 5.98% | | 5.90% | | 5.93% | | 5.97% | | 5.93% | |
| Impact of accretion on acquired loans | (0.34) | | (0.35) | | (0.40) | | (0.32) | | (0.45) | | (0.35) | | (0.42) | |
| Yield on loans excluding accretion on acquired loans | 5.68% | | 5.61% | | 5.58% | | 5.58% | | 5.48% | | 5.62% | | 5.51% | |
| Net Interest Income | $176,244 | | $133,906 | | $127,295 | | $118,857 | | $116,115 | | $556,308 | | $433,045 | |
| Accretion on acquired loans | (10,645) | | (9,543) | | (10,583) | | (8,221) | | (11,717) | | (38,992) | | (41,672) | |
| Net interest income excluding accretion on acquired loans | $165,599 | | $124,363 | | $116,712 | | $110,636 | | $104,398 | | $517,316 | | $391,373 | |
| Net Interest Margin | 3.66% | | 3.57% | | 3.58% | | 3.48% | | 3.39% | | 3.58% | | 3.24% | |
| Impact of accretion on acquired loans | (0.22) | | (0.25) | | (0.29) | | (0.24) | | (0.34) | | (0.26) | | (0.31) | |
| Net interest margin excluding accretion on acquired loans | 3.44% | | 3.32% | | 3.29% | | 3.24% | | 3.05% | | 3.33% | | 2.93% | |
| Securities interest income | $57,852 | | $36,029 | | $32,519 | | $29,422 | | $26,986 | | $155,823 | | $99,620 | |
| Tax equivalent adjustment on securities | (1,114) | | (10) | | (7) | | (7) | | (7) | | (1,139) | | (29) | |
| Securities interest income excluding tax equivalent adjustment | 56,738 | | 36,019 | | 32,512 | | 29,415 | | 26,979 | | 154,684 | | 99,591 | |
| Loan interest income | 187,910 | | 162,341 | | 157,499 | | 150,973 | | 152,303 | | 658,728 | | 598,411 | |
| Tax equivalent adjustment on loans | (503) | | (428) | | (424) | | (333) | | (304) | | (1,693) | | (1,045) | |
| Loan interest income excluding tax equivalent adjustment | $187,407 | | $161,913 | | $157,075 | | $150,640 | | $151,999 | | $657,035 | | $597,366 | |
| Quarterly Trends | Twelve Months Ended |
|---|
| GAAP TO NON-GAAP RECONCILIATION | (Unaudited) | |
| SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES |
| (Amounts in thousands, except per share data) | 4Q'25 | 3Q'25 | 2Q'25 | 1Q'25 | 4Q'24 | 4Q'25 | 4Q'24 |
| Net Interest Income | $176,243 | $133,906 | $127,295 | $118,857 | $116,115 | $556,307 | $433,045 |
| Tax equivalent adjustment on securities | (1,114) | (10) | (7) | (7) | (7) | (1,139) | (29) |
| Tax equivalent adjustment on loans | (503) | (428) | (424) | (333) | (304) | (1,693) | (1,045) |
| Net interest income excluding tax equivalent adjustments | $174,626 | $133,468 | $126,864 | $118,517 | $115,804 | $553,475 | $431,971 |
| On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost. |