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Seacoast Banking Corporation of Florida reports news about its role as a bank holding company for Seacoast National Bank, providing commercial and consumer banking, wealth management, mortgage and insurance services through branch, mobile and online channels in Florida and Georgia. Recurring updates center on quarterly operating results, net interest margin, deposit trends, loan and securities yields, asset quality, capital levels and balance-sheet management.
Company announcements also cover common and Series A Non-Voting Preferred Stock dividends, share repurchase activity, board composition and other governance actions. Corporate-development news includes integration matters following completed bank acquisitions, along with product and technology initiatives tied to customer service and treasury, information technology and security operations.
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Seacoast Banking Corporation of Florida (NASDAQ: SBCF) has declared a quarterly cash dividend, increasing the amount from $0.17 to $0.18 per share. This dividend will be payable on June 30, 2023 to shareholders of record on June 15, 2023.
As one of Florida's largest community banks, Seacoast holds approximately $12.1 billion in assets and $10.0 billion in deposits (as of December 31, 2022). The company offers a range of financial services including banking, wealth management, and mortgage services through over 50 branches in Florida, complemented by advanced online and mobile banking solutions.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) has announced it will release its first quarter 2023 earnings results on April 27 after market close. Investors can access the results on their website, and a conference call will follow on April 28 at 10:00 a.m. ET to discuss the results and business trends. Seacoast, with approximately $12.1 billion in assets and $10.0 billion in deposits as of December 31, 2022, provides a range of financial services across its 50+ branches in Florida. The recording of the conference call will be available for a year.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) has successfully completed its acquisition of Professional Holding Corp. (NASDAQ: PFHD) as of January 31, 2023. This strategic merger aims to strengthen Seacoast's footprint in the South Florida market, particularly by integrating Professional Bank's significant assets, which include approximately $2.2 billion in deposits and $2.1 billion in loans. Under the merger agreement, Professional shareholders received 0.8909 shares of Seacoast common stock for each share held. The acquisition is expected to enhance Seacoast's financial services offering and competitive positioning in the region.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) reported fourth-quarter 2022 net income of $23.9 million, or $0.34 per diluted share, reflecting an 18% decrease from Q3 2022. The bank's adjusted net income rose 22% to $39.9 million. Notably, the net interest margin expanded by 69 basis points to 4.36%, driven by increased loan yields. For the entire year, net income totaled $106.5 million, down 14% from 2021. The company completed acquisitions of Apollo Bancshares and Drummond Banking, contributing significantly to their asset base. Despite increasing operating expenses due to merger-related costs, Seacoast is well-positioned with strong capital metrics.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) announced a quarterly cash dividend of $0.17 per share, declared on January 18, 2023. This dividend will be payable on March 31, 2023, to shareholders of record as of the close of business on March 15, 2023. As of September 30, 2022, the company held approximately $10.3 billion in assets and $8.8 billion in deposits. Seacoast is among Florida's largest community banks and offers a variety of financial services through over 50 branches and advanced digital banking solutions.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) announced that it will release its fourth quarter 2022 earnings on January 26, 2023, after market close. A live conference call is scheduled for January 27 at 10:00 AM ET to discuss these results and business trends. As of September 30, 2022, Seacoast had approximately $10.3 billion in assets and $8.8 billion in deposits, serving customers through over 50 branches and digital platforms. Investors can access earnings details and presentations on the company’s website.
Seacoast Banking Corporation of Florida (SBCF) has renewed its share repurchase program, allowing for the buyback of up to $100 million in common stock, which represents about 4% of outstanding shares. This program will last until December 31, 2023, and purchases can occur through various methods, including open market transactions. The actual buyback will depend on factors like market conditions and the company's financial health, with no obligation to buy a specific number of shares. This initiative aims to enhance shareholder value.
Seacoast Banking Corporation of Florida (SBCF) reported Q3 2022 net income of $29.2 million ($0.47/share), an 11% decrease from Q2 but up 27% year-over-year. Adjusted net income was $32.8 million ($0.53/share), also down 10% from Q2 but up 12% year-over-year. Net interest income rose by 24% to $88.3 million, aided by a 29 basis points increase in net interest margin to 3.67%. Total assets stood at $10.3 billion with tangible common equity ratio at 9.79%. The company successfully completed acquisitions of Apollo and Drummond, significantly expanding its footprint in Florida.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) declared a quarterly cash dividend of $0.17 per share on October 18, 2022. This dividend is payable on December 30, 2022, to shareholders of record as of December 15, 2022. With approximately $10.8 billion in assets and $9.2 billion in deposits, Seacoast provides various financial services through its network of over 50 branches across Florida and advanced online banking solutions.