Seacoast Reports Fourth Quarter and Full Year 2025 Results

Key Terms

net interest margin financial

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

loan-to-deposit ratio financial

Loan-to-deposit ratio measures how much a bank has lent out compared with the money customers have deposited, expressed as a percentage. Think of it like the share of a household’s savings that has been loaned to others: a higher ratio can boost earnings but reduce cash on hand and increase risk, while a lower ratio means more liquidity but potentially lower returns—key for investors assessing a bank’s balance of profit and safety.

bank owned life insurance financial

Bank owned life insurance is a type of life insurance a bank buys on the lives of its employees so the bank, rather than the employee’s family, receives the payout when a covered person dies. It acts like a long-term asset that pays income and can help cover costs such as employee benefits or unexpected losses; investors watch it because the holding affects a bank’s reported earnings, cash flow stability, and capital position much like a conservative investment portfolio would.

tier 1 capital ratio financial

A tier 1 capital ratio measures a bank’s core financial strength by comparing its most reliable capital — such as shareholder equity and retained profits — to its assets after adjusting for how risky those assets are. Think of it as the firm’s shock-absorbing cushion relative to the danger of its exposures; higher ratios mean the bank is better positioned to absorb losses, meet regulations and continue lending, which matters to investors assessing safety and long-term returns.

common equity tier 1 capital ratio financial

A bank’s common equity tier 1 (CET1) capital ratio measures the size of its strongest loss-absorbing capital—mainly common shares and retained earnings—relative to the bank’s assets after adjusting those assets for how risky they are (riskier loans count more). Think of it as the safety cushion compared with the weight of risky business; investors use it to judge a bank’s ability to survive losses, meet rules, and sustain dividends or growth.

tier 1 leverage ratio financial

Tier 1 leverage ratio measures a bank’s core capital — the money that can absorb losses — as a share of its total assets, showing how much of its balance sheet is funded by real loss-absorbing capital rather than borrowed money. Investors use it like a safety gauge: a higher ratio means a bigger cushion against shocks and lower risk of insolvency, similar to how a thicker spare tire reduces the chance of being stranded.

commercial real estate financial

Commercial real estate is property used to run businesses or earn rental income—examples include office buildings, shopping centers, warehouses and apartment complexes leased to tenants. Investors care because these properties generate regular cash flow through rent and can change value with the economy, interest rates and local demand, so owning them is like owning a small business that depends on customers, location and ongoing costs.

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.--(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 earnings¹ 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.

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 revenues¹ 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 earnings¹ were $75.1 million in the fourth quarter of 2025 and included $18.1 million in merger and integration costs. Pre-tax pre-provision earnings¹ 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 earnings¹ 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.
  • 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 ratio¹ 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 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 capital², 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 capital².

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%² compared to 14.5% at September 30, 2025, and 14.8% at December 31, 2024. The Total capital ratio was 15.8%², the Common Equity Tier 1 capital ratio was 11.5%², and the Tier 1 leverage ratio was 10.1%² 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.

¹Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and for a reconciliation to GAAP.

² 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.

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.

FINANCIAL HIGHLIGHTS												(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	Quarterly Trends																				Twelve months ended
(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 income1		47,741				45,164				44,466				32,102				40,556				169,473				132,476
Net interest income2		176,244				133,906				127,295				118,857				116,115				556,308				433,045
Net interest margin2,3		3.66	%			3.57	%			3.58	%			3.48	%			3.39	%			3.58	%			3.24	%
Pre-tax pre-provision earnings1	$	75,141			$	55,887			$	60,236			$	50,590			$	47,858			$	241,860			$	174,173
Adjusted pre-tax pre-provision earnings1		93,170				67,190				62,627				51,686				56,610				274,679				190,003
Performance Ratios
Return on average assets-GAAP basis3		0.64	%			0.88	%			1.08	%			0.83	%			0.89	%			0.84	%			0.81	%
Adjusted return on average assets1,3		0.89				1.09				1.13				0.85				1.06				0.98				0.89
Return on average tangible assets-GAAP basis3,4		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 basis3		4.43				6.17				7.60				5.76				6.16				5.86				5.62
Adjusted return on average equity1,3		6.17				7.64				7.92				5.88				7.32				6.86				6.16
Return on average tangible equity-GAAP basis3,4		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 ratio5		63.36				64.44				60.33				64.05				60.21				63.07				65.18
Adjusted efficiency ratio1		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 assets4		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 common1,6		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 common1,6		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 common6		27.99				27.07				26.43				26.04				25.51				27.99				25.51
Tangible book value per common share4		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 common4,6		16.72				17.61				17.19				16.71				16.12				16.72				16.12
Cash dividends declared on common and preferred stock7		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
1Non-GAAP measure - see "Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP.
2Calculated on a fully taxable equivalent basis using amortized cost.
3These ratios are stated on an annualized basis and are not necessarily indicative of future periods.
4The Company defines tangible assets as total assets less intangible assets and tangible equity as total shareholders' equity less intangible assets.
5Defined 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.
6Calculated treating all preferred shares as common. 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. 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.
7In 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.

CONSOLIDATED STATEMENTS OF INCOME												(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	Quarterly Trends																				Twelve months ended
(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 common1		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 common1		11,250				—				—				—				—				2,836				—
Diluted, treating all preferred shares as common1		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
1Non-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.

CONSOLIDATED BALANCE SHEETS									(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
		December 31,				September 30,				June 30,				March 31,				December 31,
(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 common1			11,250				—				—				—				—
Total common shares outstanding, treating all preferred shares as common			109,178				87,856				85,948				85,618				85,568
1Each 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								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 common1			$	0.31			$	1.58
1Non-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.

CONSOLIDATED QUARTERLY FINANCIAL DATA									(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	Quarterly Trends
(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

AVERAGE BALANCES, INTEREST INCOME AND EXPENSES, YIELDS AND RATES 1																				(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	4Q'25											3Q'25											4Q'24
	Average								Yield/			Average								Yield/			Average								Yield/
(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, net2		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 funds3									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	%
1On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost.
2Fees on loans have been included in interest on loans. Nonaccrual loans are included in loan balances.
3Total interest expense as a percentage of total interest-bearing liabilities and noninterest demand deposits.

AVERAGE BALANCES, INTEREST INCOME AND EXPENSES, YIELDS AND RATES 1											(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	Twelve Months Ended December 31, 2025											Twelve Months Ended December 31, 2024
	Average								Yield/			Average								Yield/
(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, net2		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 funds3									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	%
1On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost.
2Fees on loans have been included in interest on loans. Nonaccrual loans are included in loan balances.
3Total interest expense as a percentage of total interest-bearing liabilities and noninterest demand deposits.

CONSOLIDATED QUARTERLY FINANCIAL DATA									(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
		December 31,				September 30,				June 30,				March 31,				December 31,
(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 funding1		$	16,524,481			$	13,137,005			$	12,168,385			$	12,513,463			$	12,180,860
1Total 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.

GAAP TO NON-GAAP RECONCILIATION								(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	Quarterly Trends																				Twelve Months Ended
(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
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 income1	$	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 loans1	$	177,265			$	152,798			$	146,916			$	142,752			$	140,586			$	619,736			$	556,739
Yield on loans1		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 loans1		5.68	%			5.61	%			5.58	%			5.58	%			5.48	%			5.62	%			5.51	%
Net Interest Income1	$	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 loans1	$	165,599			$	124,363			$	116,712			$	110,636			$	104,398			$	517,316			$	391,373
Net Interest Margin1		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 loans1		3.44	%			3.32	%			3.29	%			3.24	%			3.05	%			3.33	%			2.93	%
Securities interest income1	$	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 adjustment1		56,738				36,019				32,512				29,415				26,979				154,684				99,591
Loan interest income1		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
Net Interest Income1	$	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
1On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260129494375/en/

Michael Young

Chief Strategy Officer & Treasurer

Seacoast Banking Corporation of Florida

(772) 403-0451

Source: Seacoast Banking Corporation of Florida