Seacoast Bkg Corp Fla - SBCF STOCK NEWS

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) announced the release of its fourth quarter 2020 results on January 28, 2021, after market close. Investors can access the earnings results on the company's website. A conference call is scheduled for January 29, 2021, at 10:00 a.m. ET to discuss these results and business trends. Seacoast Banking is among Florida's largest community banks with $8.3 billion in assets and $6.9 billion in deposits as of September 30, 2020.

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) has announced the promotion of Charles "Chuck" Shaffer to chief executive officer (CEO), completing a previously disclosed succession plan. Shaffer, who has served as president and COO since June 2020, is recognized for his significant contributions to the company's growth strategy. Former CEO Dennis Hudson III takes on the role of executive chairman. With approximately $8.3 billion in assets and a strong community banking presence, Seacoast aims for continued success under Shaffer's leadership.

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) announced a share repurchase program allowing the repurchase of up to $100 million of its common stock, approximately 6.1% of outstanding shares, set to expire on December 31, 2021. The program enables various purchasing methods, subject to market conditions and the company's financial performance. CEO Dennis Hudson emphasized the program aims to enhance long-term shareholder value while maintaining a strong balance sheet. As of September 30, 2020, Seacoast had $8.3 billion in assets.

Seacoast Banking Corporation of Florida (SBCF) reported third-quarter 2020 net income of $22.6 million, or $0.42 per diluted share. Adjusted net income was $27.3 million, or $0.50 per diluted share. The tangible common equity ratio increased to 10.67%, and tangible book value per share rose to $15.57. Noninterest income reached a record $16.9 million, driven by mortgage banking, wealth management, and interchange income. However, net interest income decreased by 6% to $63.5 million. Overall, the company showcases robust growth and a solid balance sheet amid pandemic challenges.

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) will release its third quarter 2020 results on October 27, 2020, after market close. A conference call for discussing earnings and business trends will occur on October 28 at 10:00 a.m. ET. Investors can access earnings results and a replay of the call on Seacoast's website. As of June 30, 2020, Seacoast holds $8.1 billion in assets and $6.7 billion in deposits. The company operates 50 branches across Florida, providing various financial services.

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) has completed its acquisition of Fourth Street Banking Company, effective August 21, 2020, for approximately $41.7 million. Fourth Street shareholders will receive 0.1275 shares of Seacoast for each Fourth Street share. The acquisition enhances Seacoast's presence in Florida's growing markets, adding Freedom Bank's $359 million in deposits and $312 million in loans. This merger is expected to provide Freedom Bank's customers with access to Seacoast's digital banking services and extensive ATM network.

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) has appointed Richard Raiford as Chief Credit Officer, succeeding David Houdeshell, who transitions to Director of Credit Analytics and Policy. Raiford brings extensive credit management experience from roles at East West Bank and JP Morgan Chase. This leadership change aims to enhance Seacoast's credit growth while upholding rigorous underwriting standards. Seacoast, with approximately $8.1 billion in assets as of June 30, 2020, continues to position itself as a key community bank in Florida.

Seacoast Banking Corporation of Florida (SBCF) reported record second quarter results for 2020, achieving net income of $25.1 million ($0.47 per diluted share), an 8% increase year-over-year. The company shows strong capital metrics with a Tier 1 capital ratio of 16.4% and tangible book value per share rising to $15.11. Mortgage banking and wealth management segments saw record performance, with significant Paycheck Protection Program (PPP) loans totaling $591 million aiding local businesses. However, uncertainty remains regarding the forgiveness of PPP loans and potential impacts on future earnings.