Seacoast Bkg Corp Fla Stock Price, News & Analysis

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) reported a second-quarter net income of $32.8 million, a 59% increase from the prior quarter and a 4% increase year-over-year. Adjusted net income was $36.3 million, growing 34% from Q1 2022. The company achieved a net interest margin of 3.38%, reflecting strong loan originations and growth in demand deposits. Seacoast's tangible common equity ratio stood at 9.74%, providing solid capital and liquidity. The company has expanded into new markets and continues to pursue strategic acquisitions, enhancing its competitive presence in Florida.

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) declared a quarterly cash dividend of $0.17 per share on July 19, 2022. This dividend will be payable on September 30, 2022 to shareholders on record as of September 15, 2022. The company, with approximately $10.9 billion in assets and $9.2 billion in deposits as of March 31, 2022, offers integrated financial services through over 50 branches in Florida and advanced digital solutions.

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) is set to release its Q2 2022 financial results on July 28, post-market. Investors can find the earnings report on the company’s website, with a conference call scheduled for July 29 at 10:00 a.m. ET to discuss the results and business trends. The call will be accessible via a toll-free number and online through a webcast. Seacoast, a leading Florida community bank, reported approximately $10.9 billion in assets and $9.2 billion in deposits as of March 31, 2022.

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) has announced an agreement to acquire Drummond Banking Company, enhancing its presence in North Florida. Drummond, with 18 branches and approximately $932 million in deposits, adds stability and growth potential. The merger, valued at about $173.2 million, is projected to be 8.6% accretive to earnings per share in 2023, with a modest dilution of tangible book value expected to be recovered in 1.6 years. The transaction reflects Seacoast's successful M&A strategy and will be finalized in Q4 2022, pending regulatory and shareholder approval.

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) reported Q1 2022 net income of $20.6 million, or $0.33 per diluted share, reflecting a 43% decrease from Q4 2021 and 39% from Q1 2021. Adjusted net income was $27.1 million, or $0.44 per share. The bank's net interest margin increased to 3.25%, with total deposits reaching $9.2 billion, a 15% rise from the previous quarter. Despite merger-related expenses impacting profits, strong loan growth through acquisitions and an expanding pipeline position the bank for future gains. The company remains committed to disciplined growth and capital management.

On April 19, 2022, Seacoast Banking Corporation of Florida (NASDAQ: SBCF) announced a quarterly cash dividend increase from $0.13 to $0.17 per share. The dividend will be paid on June 30, 2022, to shareholders on record as of June 15, 2022. With approximately $9.7 billion in assets and $8.1 billion in deposits as of December 31, 2021, Seacoast is one of Florida's largest community banks. The company offers a range of financial services through over 50 branches and advanced banking solutions.

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) will release its Q1 2022 earnings on April 28, 2022, after market close. A conference call to discuss the results is scheduled for April 29, 2022, at 10:00 a.m. ET. Investors can participate by calling toll-free (866) 374-5140. Seacoast, a significant community bank with approximately $9.7 billion in assets and $8.1 billion in deposits, offers various financial services through over 50 branches in Florida. Full details, including charts and a replay of the call, will be available on their website.

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) has announced its agreement to acquire Apollo Bancshares, Inc., enhancing its presence in Miami-Dade County, Florida. The transaction, valued at approximately $168.3 million, adds Apollo's assets of $928 million in deposits and $665 million in loans. Seacoast expects this acquisition to increase deposits in the Miami-Fort Lauderdale area by 45%, reaching around $2.7 billion, and to be 8.0% accretive to earnings per share in 2023. Closing is anticipated in early Q4 2022.

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) has appointed James Stallings as executive vice president and chief credit officer, succeeding Richard Raiford. Stallings brings nearly 25 years of experience in banking and credit risk, notably enhancing BB&T's growth during his tenure. Chuck Shaffer, CEO, emphasized Stallings’ expertise in credit risk administration, which aligns with the company’s goal for disciplined growth. As of December 31, 2021, Seacoast Banking had approximately $9.7 billion in assets and $8.1 billion in deposits and operates over 50 branches in Florida.