Seacoast Reports Second Quarter 2026 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.

pre-tax pre-provision earnings financial

Pre-tax pre-provision earnings is a measure of a bank’s operating profit before two items are removed: taxes and the money it sets aside to cover potential loan losses. It shows the core earning power of the business — like looking at a household’s income before paying taxes and putting money into a rainy-day fund — and helps investors judge how well a bank can absorb future losses and grow without relying on one-off items.

purchase accounting accretion financial

Purchase accounting accretion describes how an acquisition’s required accounting adjustments change a company’s reported earnings per share after the deal. When the purchase price is reallocated to the acquired assets and liabilities, certain items (like tax effects, depreciation or amortization) are recorded differently, and those changes can make reported earnings per share rise over time — showing whether the transaction boosts or dilutes per-share results. Investors use it like checking whether two merged household budgets will increase the amount left over each month after relabeling expenses.

noninterest-bearing deposits financial

Noninterest-bearing deposits are bank balances—typically checking accounts and some demand deposits—that do not pay interest to the holder. Think of them as free storage boxes for customer cash: they provide banks with low-cost, stable funding that boosts profit margins because the bank can lend or invest that money without paying the depositor. Investors watch these deposits because higher levels reduce a bank’s funding costs and help its earnings stability.

available-for-sale financial

A classification for bonds, stocks or other investments that a company plans to keep but might sell before they reach full term. Think of it like items a shop keeps on a shelf for potential sale: their market value can go up or down while the company holds them, and those unrealized gains or losses are shown separately from operating profit until they are sold. Investors watch this because large swings can change a company’s reported net worth and signal how much flexibility it has to raise cash quickly.

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Strong Organic Loan Growth with Expanding Pipeline

Well-Positioned Balance Sheet with Robust Capital and Liquidity

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 second quarter of 2026.

Second Quarter 2026 Highlights

• Net income of $59.5 million, or $0.55 per share, increased 87% from the prior quarter and 39% from the prior year quarter. Adjusted net income¹ was $65.8 million, or $0.61 per share.
• Adjusted pre-tax pre-provision earnings¹ increased 4% from the prior quarter and 52% from the prior year quarter.
• 16% annualized organic loan growth.
• Total deposits increased 4% on an annualized basis, including a 4% annualized increase in noninterest-bearing deposits.
• Cost of deposits declined to 1.53%.
• Net interest income grew 2% from the prior quarter and 42% from the prior year quarter.
• Net interest margin was stable at 3.83% and, excluding accretion on acquired loans, expanded eight basis points from the prior quarter to 3.65%.
• Revenue growth continued to outpace expense, resulting in improved operating leverage and an improved efficiency ratio.
• Repurchased 751,680 shares of common stock during the quarter, and 1,072,443 shares of common stock year to date.

Charles M. Shaffer, Seacoast's Chairman and CEO, said, "Seacoast delivered another quarter of strong financial performance, reflecting the strength of our franchise, the resilience of our markets, and the disciplined execution of our associates across the organization. In early July, we successfully completed the conversion of customers from Citizens First Bank to Seacoast's platforms, marking the culmination of one of the most significant and complex integrations in our company's history. I could not be more proud of our team for delivering an exceptionally smooth client experience while executing a highly complex technical conversion. Their preparation, commitment, and relentless focus on excellence ensured a seamless transition for customers and demonstrated the extraordinary talent and capabilities that exist throughout Seacoast.”

Shaffer continued, “The Villages® remains one of the most attractive growth markets in Florida, supported by exceptional demographics, continued economic expansion, and significant opportunities to deepen customer relationships. This acquisition has strengthened our position in this premier market, expanded our franchise, enhanced our earnings profile, and improved our ability to generate sustainable long-term growth. Just as importantly, we have welcomed team members and customers that share our commitment to community banking, exceptional service, and local decision-making.

“Beyond the successful completion of the conversion, we delivered another strong quarter, supported by healthy loan and demand deposit growth, diversified revenue streams, and disciplined execution across the organization. Our balance sheet remains exceptionally strong, underpinned by industry-leading capital levels, substantial liquidity, and excellent asset quality. These strengths provide the flexibility to continue to invest in our franchise, support our clients, and capitalize on opportunities across our footprint while maintaining a prudent risk posture.”

Shaffer concluded, “As Seacoast celebrates its 100^th year, we remain optimistic about the future. The markets we serve continue to benefit from favorable population growth, strong economic fundamentals, and attractive long-term growth trends. With the successful integration of our recent acquisitions now complete, an outstanding team in place, and a strong balance sheet supporting future growth, we enter the second half of 2026 with considerable momentum and confidence in our ability to create sustained value for our shareholders, customers, associates, and communities.”

Financial Results

Income Statement

• Net income in the second quarter of 2026 was $59.5 million, or $0.55 per diluted share, compared to $31.9 million, or $0.29 per diluted share, in the prior quarter and $42.7 million, or $0.50 per diluted share, in the prior year quarter. Adjusted net income¹ for the second quarter of 2026 was $65.8 million, or $0.61 per diluted share, compared to $67.8 million, or $0.62 per diluted share, for the prior quarter, and $44.5 million, or $0.52 per diluted share, for the prior year quarter. For the six months ended June 30, 2026, net income was $91.4 million and adjusted net income¹ was $133.6 million, compared to $74.2 million and $76.6 million, respectively, in the prior year period.
• Net revenues were $208.2 million in the second quarter of 2026, an increase of $44.3 million, or 27%, compared to the prior quarter, and an increase of $56.8 million, or 38%, compared to the prior year quarter. The first quarter of 2026 included a $39.5 million loss from a strategic repositioning of the securities portfolio. Growth compared to the prior year quarter reflects the expansion of the franchise, including from bank acquisitions in 2025. Adjusted net revenues¹ were $210.0 million in the second quarter of 2026, an increase of $4.9 million, or 2%, compared to the prior quarter, and an increase of $58.2 million, or 38%, compared to the prior year quarter. For the six months ended June 30, 2026 and 2025, net revenues were $372.0 million and $292.1 million, respectively.
• Pre-tax pre-provision earnings¹ were $87.0 million in the second quarter of 2026, an increase of $43.4 million, or 100%, compared to the prior quarter, and an increase of $26.7 million, or 44%, compared to the second quarter of 2025. Adjusted pre-tax pre-provision earnings¹ were $95.5 million in the second quarter of 2026, an increase of $3.8 million, or 4%, compared to the prior quarter, and an increase of $32.8 million, or 52%, compared to the second quarter of 2025. For the six months ended June 30, 2026, pre-tax pre-provision earnings¹ was $130.5 million and adjusted pre-tax pre-provision earnings¹ was $187.1 million, compared to $110.8 million and $114.3 million, respectively, in the prior year period.
• Net interest income totaled $180.4 million in the second quarter of 2026, an increase of $3.9 million, or 2%, compared to the prior quarter, and an increase of $53.5 million, or 42%, compared to the second quarter of 2025. The increase compared to the prior quarter represents higher yields on the securities portfolio and loan growth. Securities income increased $2.5 million, or 4%, from the prior quarter, benefiting from higher balances and the full quarter impact of the securities repositioning executed in the first quarter of 2026. Interest income on loans increased compared to the prior quarter by $2.4 million, or 1%, despite lower purchase accounting accretion, due to higher average loan balances and higher core loan yields. Accretion on acquired loans was $8.9 million in the second quarter of 2026 compared to $12.1 million in the first quarter of 2026. Interest expense on deposits increased $0.7 million, or 1%, compared to the prior quarter.
• Net interest margin was stable at 3.83% in the second quarter of 2026 compared to the first quarter of 2026, and increased 25 basis points compared to 3.58% in the second quarter of 2025. Excluding the effects of accretion on acquired loans, net interest margin expanded eight basis points to 3.65% in the second quarter of 2026 compared to 3.57% in the first quarter of 2026, and increased 36 basis points compared to 3.29% in the second quarter of 2025. The expansion in core net interest margin was driven by higher securities and loan yields and lower funding costs. Loan yields were 5.88%, a decline of eight basis points from the prior quarter, and a decline of 10 basis points from the prior year quarter. Yield on loans excluding accretion on acquired loans was 5.61%, an increase of four basis points from the prior quarter, and an increase of three basis points from the prior year quarter. Securities yields increased to 4.47%, up 10 basis points from the prior quarter and up 60 basis points from the prior year quarter. The cost of deposits declined one basis point to 1.53% in the second quarter of 2026 compared to 1.54% in the prior quarter, and declined 27 basis points compared to 1.80% in the second quarter of 2025. The cost of funds declined two basis points to 1.69% compared to the prior quarter, and declined 30 basis points compared to the prior year quarter.
• The Company recorded a provision for credit losses of $9.0 million in the second quarter of 2026, reflecting record loan growth and low, stable charge-offs of $3.2 million. Allowance coverage of 1.38% at June 30, 2026 was lower by one basis point compared to March 31, 2026.
• Noninterest income totaled $27.8 million in the second quarter of 2026, an increase of $40.4 million compared to the prior quarter. A strategic repositioning of the securities portfolio resulted in a $39.5 million loss in the first quarter of 2026. Excluding securities activity, adjusted noninterest income¹ of $27.8 million increased $0.9 million, or 3%, compared to the prior quarter, and increased $3.4 million, or 14%, from the prior year quarter. For the six months ended June 30, 2026, adjusted noninterest income¹ increased $8.3 million, or 18%, from the prior year period to $54.8 million. Results in the second quarter of 2026 included:
  • Service charges on deposits totaled $7.0 million, an increase of $0.1 million, or 2%, from the prior quarter and an increase of $1.5 million, or 27%, from the prior year quarter.
  • Wealth management income totaled $6.0 million, an increase of $0.2 million, or 3%, from the prior quarter and an increase of $1.8 million, or 42%, from the prior year quarter. The wealth management division has continued to deliver significant growth, driven by robust organic business development, strong client retention, and continued asset inflows from existing relationships, and has added $388 million in new organic assets under management in the first half of 2026. Assets under management have grown 45% year-over-year to $3.2 billion.
  • Mortgage banking income totaled $2.7 million, an increase of $0.6 million, or 27%, from the prior quarter and an increase of $2.1 million, or 301%, from the prior year quarter, with higher saleable production including the addition of mortgage originations in The Villages communities.
  • Insurance agency income totaled $1.3 million, a decrease of $0.5 million, or 25%, from the prior quarter and an increase of $47 thousand, or 4%, from the prior year quarter. The first quarter of 2026 included typical seasonal contingency payments, which are collected annually.
  • Other income totaled $6.0 million, an increase of $0.5 million, or 8%, compared to the prior quarter and a decrease of $1.5 million, or 19%, from the prior year quarter. Compared to the prior quarter, the second quarter of 2026 included higher fees on customer swap activity, partially offset by lower SBIC income. In the prior year quarter, the Company recognized $3.0 million in tax refunds related to a prior bank acquisition.
• Noninterest expense was $123.1 million in the second quarter of 2026, an increase of $0.9 million, or 1%, compared to the prior quarter, and an increase of $31.4 million, or 34%, compared to the prior year quarter. In the second quarter of 2026, merger and integration costs totaled $8.4 million, compared to $8.5 million in the prior quarter and $2.4 million in the prior year quarter. Results in the second quarter of 2026 are discussed below. Year-over-year increases reflect continued expansion of the footprint and growth in customers, including through bank acquisitions.
  • Salaries and employee benefits totaled $63.1 million, an increase of $0.5 million, or 1%, from the prior quarter and an increase of $10.6 million, or 20%, from the prior year quarter.
  • Outsourced data processing costs totaled $12.2 million, an increase of $0.2 million, or 2%, from the prior quarter and an increase of $3.7 million, or 44%, from the prior year quarter.
  • Occupancy costs totaled $9.6 million, an increase of $0.4 million, or 4%, compared to the prior quarter and an increase of $2.1 million, or 28%, from the prior year quarter.
  • Legal and professional fees totaled $2.5 million, a decrease of $0.7 million, or 22%, compared to the prior quarter and an increase of $0.4 million, or 20%, from the prior year quarter. The changes are largely associated with the timing of various projects.
  • Amortization of intangibles totaled $10.0 million, a decrease of $0.1 million, or 1%, from the prior quarter and an increase of $4.8 million, or 94%, from the prior year quarter.
  • Other expense totaled $8.0 million, an increase of $1.2 million, or 18%, compared to the prior quarter and an increase of $1.8 million, or 30%, from the prior year quarter.
• The efficiency ratio improved to 58.52% in the second quarter of 2026, compared to 59.47% in the first quarter of 2026 and 60.33% in the second quarter of 2025. The adjusted efficiency ratio¹ improved to 54.54% in the second quarter of 2026, compared to 55.31% in the first quarter of 2026 and 58.74% in the prior year quarter. The Company remains keenly focused on disciplined expense control, while making investments for growth.

Balance Sheet

• At June 30, 2026, the Company had total assets of $21.4 billion and total shareholders’ equity of $2.7 billion. Book value per common share was $28.20 as of June 30, 2026, compared to $27.83 as of March 31, 2026, and $26.43 as of June 30, 2025. Tangible book value per share, treating all convertible preferred shares as common was $17.25 as of June 30, 2026, compared to $16.90 as of March 31, 2026, and $17.19 as of June 30, 2025.
• Debt securities totaled $5.7 billion as of June 30, 2026, an increase of $93.3 million compared to March 31, 2026. Debt securities as of June 30, 2026 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 $564.1 million in securities classified as held-to-maturity with a fair value of $465.7 million.
• Continued strong loan origination volume and lower payoffs than the first quarter resulted in an overall increase in loan balances of $504.0 million, or 16% annualized, during the second quarter of 2026. Seacoast continues to benefit from the investments made in recent years to attract talent from large regional and national banks across its markets.
• The outlook for continued consistent growth is strong, with loan pipelines totaling $1.5 billion as of June 30, 2026, compared to $1.2 billion at March 31, 2026 and $920.9 million at June 30, 2025.
  • Commercial pipelines totaled $1.3 billion as of June 30, 2026, representing an increase of $246.2 million, or 24%, from the prior quarter and an increase of $430.0 million, or 50%, from the prior year quarter.
  • Residential pipelines were $168.5 million as of June 30, 2026, compared to $169.2 million as of March 31, 2026 and $43.5 million as of June 30, 2025.
• Total deposits were $16.8 billion as of June 30, 2026, an increase of $154.3 million or 3.7% annualized, when compared to March 31, 2026.
  • Noninterest-bearing demand deposits increased 4% on an annualized basis during the second quarter of 2026 to $4.2 billion at June 30, 2026.
  • The cost of deposits declined one basis point to 1.53% from 1.54% in the prior quarter.
  • At June 30, 2026, customer transaction account balances represented 48% of total deposits. The Company benefits from a granular deposit franchise, with the top ten depositors representing approximately 2% of total customer deposits.
  • Consumer deposits represent 48% of overall customer deposit funding with an average consumer customer balance of $24 thousand. Commercial deposits represent 52% of overall customer deposit funding with an average business customer balance of $121 thousand.
  • Brokered deposits were utilized as a temporary funding source to offset typical seasonal lows in core deposit balances. Brokered deposits totaled $611.6 million as of June 30, 2026, compared to $209.3 million as of March 31, 2026 and $515.3 million as of June 30, 2025.
  • Uninsured deposits represented only 36% of overall deposit balances as of June 30, 2026. This includes public funds under the Florida Qualified Public Depository program, which provides loss protection to depositors beyond FDIC insurance limits. Excluding such balances, the uninsured and uncollateralized deposits were 32% of total deposits. The Company has liquidity sources including cash and lines of credit with the Federal Reserve and Federal Home Loan Bank that represent 158% of uninsured deposits, and 181% of uninsured and uncollateralized deposits.
• Federal Home Loan Bank borrowings averaged $915.0 million at 3.77% for the second quarter of 2026, compared to average borrowings of $847.2 million at 4.03% in the first quarter of 2026 and $724.2 million at 4.32% in the second quarter of 2025.

Asset Quality

• The ratio of criticized and classified loans to total loans was 2.88% at June 30, 2026, 2.82% at March 31, 2026, and 2.39% at June 30, 2025.
• Nonperforming loans were $86.5 million, or 0.66% of total loans, at June 30, 2026, a decrease of $8.5 million, or 9%, from $95.0 million, or 0.75% of total loans, as of March 31, 2026.
• Accruing past due loans were $20.1 million, or 0.15% of total loans, at June 30, 2026, compared to $28.2 million, or 0.22% of total loans, at March 31, 2026, and $14.2 million, or 0.13% of total loans, at June 30, 2025.
• Net charge-offs were $3.2 million in the second quarter of 2026, compared to $3.3 million in the first quarter of 2026 and $2.5 million in the second quarter of 2025. Net charge-offs for the four most recent quarters averaged 0.09% of total loans.
• The ratio of ACL to total loans was 1.38% at June 30, 2026, a decline of one basis point, compared to 1.39% at March 31, 2026, and 1.34% at June 30, 2025.
• 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 June 30, 2026 at 40% and 230% of total bank-level risk-based capital², respectively, compared to 35% and 224%, respectively, at March 31, 2026. On a consolidated basis and as of June 30, 2026, construction and land development and commercial real estate loans represent 37% and 216%, respectively, of total consolidated risk-based capital².

Capital and Liquidity

• The Company continues to operate with a fortress balance sheet, with a Tier 1 capital ratio at June 30, 2026 of 14.3%² compared to 14.6% at both March 31, 2026 and June 30, 2025. The Total capital ratio was 15.7%², the Common Equity Tier 1 capital ratio was 11.5%², and the Tier 1 leverage ratio was 10.4%² at June 30, 2026. The Company is considered “well capitalized” based on applicable U.S. regulatory capital ratio requirements.
• Tangible equity to tangible assets³ was 9.25% at June 30, 2026, compared to 9.24% at March 31, 2026, and 9.75% at June 30, 2025. If all held-to-maturity securities were adjusted to fair value, the tangible equity ratio would have been 8.92% at June 30, 2026.
• During the second quarter of 2026, the Company repurchased over 750,000 shares of its common stock under its share repurchase program. Year to date under the program, the Company has taken opportunities to leverage its strong capital position by repurchasing over 1 million shares of its common stock.
• At June 30, 2026, in addition to $429.9 million in cash, the Company had $9.2 billion in available borrowing capacity, including $5.0 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. These liquidity sources as of June 30, 2026, represented 181% of uninsured and uncollateralized deposits.

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

2Estimated

3The Company defines tangible assets as total assets less intangible assets and tangible equity as total shareholders' equity plus convertible preferred stock less intangible assets.

OTHER INFORMATION

Conference Call Information

Seacoast will host a conference call on July 29, 2026, at 10:00 a.m. (Eastern Time) to discuss the second quarter of 2026 earnings results and business trends. Investors may call in (toll-free) by dialing (800) 715-9871 (Conference ID: 3366993). 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 $21.4 billion in assets and $16.8 billion in deposits as of June 30, 2026. Seacoast provides integrated financial services including commercial and consumer banking, wealth management, and mortgage and insurance services to customers at 105 full-service branches across Florida and Georgia, and through advanced mobile and online banking solutions. Seacoast National Bank is the wholly-owned subsidiary bank of Seacoast Banking Corporation of Florida. 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. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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. Forward-looking statements also include statements relating to expectations regarding net interest income, net interest margin, loan growth, deposit growth and mix, credit quality, noninterest income and expense, capital levels and liquidity. 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, or as encountered by other financial institutions that adversely affect Seacoast, 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 risks related to 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 borrower credit risks and payment behaviors, and 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 (including with respect to our financial statements), 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 timely development and acceptance of new products and services as well as risks (including reputational and litigation) attendant thereto, and perceived overall value of these products and services by users; risks associated with the development and use of artificial intelligence; 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, regime change, 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 or actual claims, damages, penalties, fines, costs, unexpected outcomes and reputational damage resulting from new, existing, 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 (including the inability to grow, or attrition of deposits, customers, and employees) from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, non-bank financial technology providers, securities brokerage firms, insurance companies, private credit funds, money market and other mutual funds and other financial institutions; the failure of assumptions underlying the establishment of reserves for expected credit losses; impairment of our goodwill or other intangible assets, risks related to, and the costs associated with, environmental, social and governance matters (“ESG”) and anti-ESG matters, including the scope and pace of related rulemaking activity and disclosure requirements and potential litigation and enforcement; 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, 2025 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																				Six months ended
(Amounts in thousands, except ratios and per share data)	2Q'26				1Q'26				4Q'25				3Q'25				2Q'25				2Q'26				2Q'25
Summary of Earnings
Net income	$	59,535			$	31,895			$	34,260			$	36,467			$	42,687			$	91,430			$	74,151
Adjusted net income1		65,819				67,777				47,741				45,164				44,466				133,596				76,568
Net interest income2		182,150				178,154				176,244				133,906				127,295				360,304				246,153
Net interest margin2,3		3.83	%			3.83	%			3.66	%			3.57	%			3.58	%			3.83	%			3.53	%
Pre-tax pre-provision earnings1	$	86,968			$	43,519			$	75,141			$	55,887			$	60,236			$	130,487			$	110,827
Adjusted pre-tax pre-provision earnings1		95,470				91,646				93,170				67,190				62,627				187,116				114,314
Performance Ratios
Return on average assets-GAAP basis3		1.13	%			0.62	%			0.64	%			0.88	%			1.08	%			0.88	%			0.96	%
Adjusted return on average assets1,3		1.25				1.31				0.89				1.09				1.13				1.28				0.99
Return on average tangible assets-GAAP basis3,4		1.35				0.81				0.83				1.04				1.24				1.08				1.12
Adjusted return on average tangible assets1,3,4		1.48				1.55				1.10				1.26				1.29				1.51				1.15
Net adjusted noninterest expense to average tangible assets1,3,4		2.11				2.13				2.01				2.16				2.25				2.12				2.29
Return on average equity-GAAP basis3		8.74				4.69				4.99				6.17				7.60				6.71				6.69
Adjusted return on average equity1,3		9.66				9.96				6.95				7.64				7.92				9.81				6.91
Return on average tangible equity-GAAP basis3,4		14.44				8.51				9.05				10.70				12.82				11.48				11.52
Adjusted return on average tangible equity1,3,4		15.79				16.26				11.96				12.98				13.31				16.03				11.86
Efficiency ratio5		58.52				59.47				63.36				64.44				60.33				58.99				62.12
Adjusted efficiency ratio1		54.54				55.31				54.50				57.63				58.74				54.92				60.93
Noninterest income to total revenue (excluding securities gains/losses)		13.37				13.23				14.05				15.59				16.18				13.30				15.92
Tangible equity to tangible assets4		9.25				9.24				9.31				9.76				9.75				9.25				9.75
Tangible common equity to tangible assets4		7.55				7.52				7.56				9.76				9.75				7.55				7.52
Average loan-to-deposit ratio		77.89				77.58				73.60				82.99				85.21				77.74				84.72
End of period loan-to-deposit ratio		78.39				76.09				77.78				83.84				84.96				78.39				84.96
Per Share Data
Earnings per common share-diluted-GAAP basis	$	0.55			$	0.29			$	0.31			$	0.42			$	0.50			$	0.84			$	0.87
Earnings per common share-basic-GAAP basis		0.55				0.30				0.32				0.42				0.50				0.85				0.87
Adjusted earnings per common share-diluted1		0.61				0.62				0.44				0.52				0.52				1.23				0.90
Book value per common share		28.20				27.83				27.70				27.07				26.43				28.20				26.43
Book value per share, treating all convertible preferred shares as common6		28.44				28.10				27.99				27.07				26.43				28.44				26.43
Tangible book value per common share		15.71				15.33				15.14				17.61				17.19				15.71				17.19
Tangible book value per share, treating all convertible preferred shares as common4,6		17.25				16.90				16.72				17.61				17.19				17.25				17.19
Cash dividends declared on common and preferred stock7		0.19				0.19				0.19				0.18				0.18				0.38				0.36
Other Data
Full-time equivalent employees		1,964				1,949				1,962				1,601				1,522				1,964				1,522
Number of ATMs		192				192				191				103				98				192				98
Full-service banking offices		105				104				104				84				79				105				79
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, tangible equity as total shareholders' equity plus convertible preferred stock 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 convertible 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 convertible preferred shares were issued in connection with the VBI acquisition. Those shares earn dividends pro-rata with common shares, or $0.19 per 1/1000th preferred share.

CONSOLIDATED STATEMENTS OF INCOME												(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	Quarterly Trends																				Six months ended
(Amounts in thousands, except per share data)	2Q'26				1Q'26				4Q'25				3Q'25				2Q'25				2Q'26				2Q'25
Interest and fees on loans	$	188,161			$	185,731			$	187,408			$	161,913			$	157,075			$	373,892			$	307,715
Interest and dividends on securities:
Taxable		59,051				56,579				53,445				35,975				32,479				115,630				61,860
Nontaxable		3,523				3,512				3,293				44				33				7,035				67
Interest on interest-bearing deposits and other investments		4,816				4,884				11,914				4,780				3,760				9,700				7,960
Total Interest Income		255,551				250,706				256,060				202,712				193,347				506,257				377,602
Interest on deposits		44,201				44,586				49,988				43,133				40,633				88,787				84,259
Interest on time certificates		18,663				17,583				20,914				16,341				15,120				36,246				30,093
Interest on borrowed money		12,292				12,067				10,531				9,770				10,730				24,359				17,869
Total Interest Expense		75,156				74,236				81,433				69,244				66,483				149,392				132,221
Net Interest Income		180,395				176,470				174,627				133,468				126,864				356,865				245,381
Provision for credit losses		8,997				761				29,260				8,371				4,379				9,758				13,629
Net Interest Income After Provision for Credit Losses		171,398				175,709				145,367				125,097				122,485				347,107				231,752
Noninterest income (loss):
Service charges on deposit accounts		7,045				6,912				6,472				6,194				5,540				13,957				10,720
Wealth management income		5,968				5,777				5,540				4,578				4,196				11,745				8,444
Mortgage banking income		2,744				2,166				3,108				517				685				4,910				1,089
Interchange income		2,093				2,067				2,483				2,008				1,895				4,160				3,702
Insurance agency income		1,336				1,790				1,191				1,481				1,289				3,126				2,909
BOLI income		2,609				2,617				2,687				3,875				3,380				5,226				5,848
Other		6,042				5,585				7,066				6,006				7,497				11,627				13,754
Total Noninterest Income Before Securities (Losses) Gains, Net		27,837				26,914				28,547				24,659				24,482				54,751				46,466
Securities (losses) gains, net		(59	)			(39,528	)			84				(841	)			39				(39,587	)			235
Total Noninterest Income (Loss)		27,778				(12,614	)			28,631				23,818				24,521				15,164				46,701
Noninterest expense:
Salaries and employee benefits		63,115				62,645				62,432				53,697				52,544				125,760				103,653
Outsourced data processing costs		12,242				11,995				11,257				9,337				8,525				24,237				17,029
Occupancy		9,591				9,235				9,330				7,627				7,483				18,826				14,833
Furniture and equipment		2,803				2,821				2,935				2,233				2,125				5,624				4,253
Marketing		3,525				3,467				3,149				2,509				2,958				6,992				5,706
Legal and professional fees		2,480				3,170				2,106				1,674				2,071				5,650				4,811
FDIC assessments		2,759				3,195				2,876				2,414				2,108				5,954				4,302
Amortization of intangibles		9,960				10,098				10,374				6,005				5,131				20,058				10,440
Other real estate owned expense and net loss (gain) on sale		85				63				(29	)			(346	)			8				148				249
Provision for credit losses on unfunded commitments		150				150				812				150				150				300				300
Merger and integration costs		8,358				8,536				18,142				10,808				2,422				16,894				3,473
Other		8,042				6,796				7,162				5,879				6,205				14,838				13,278
Total Noninterest Expense		123,110				122,171				130,546				101,987				91,730				245,281				182,327
Income Before Income Taxes		76,066				40,924				43,452				46,928				55,276				116,990				96,126
Provision for income tax expense		16,531				9,029				9,192				10,461				12,589				25,560				21,975
Net Income		59,535				31,895				34,260				36,467				42,687				91,430				74,151
Preferred dividends		2,138				2,138				2,138				—				—				4,275				—
Net Income Available to Common Shareholders	$	57,397			$	29,757			$	32,122			$	36,467			$	42,687			$	87,155			$	74,151
Share Data
Net income per share of common stock
Diluted	$	0.55			$	0.29			$	0.31			$	0.42			$	0.50			$	0.84			$	0.87
Diluted, treating all convertible preferred shares as common1		0.55				0.29				0.31				0.42				0.50				0.84				0.87
Basic	$	0.55			$	0.30			$	0.32			$	0.42			$	0.50			$	0.85			$	0.87
Average common shares outstanding
Diluted		97,250				97,838				97,761				87,425				85,479				97,549				85,454
Additional common shares treating all convertible preferred shares as common1		11,250				11,250				11,250				—				—				11,250				—
Diluted, treating all convertible preferred shares as common1		108,500				109,088				109,011				87,425				85,479				108,799				85,454
Basic		96,438				96,840				96,816				86,619				84,903				96,638				84,776
1Non-GAAP measure - see "Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP.

CONSOLIDATED BALANCE SHEETS									(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
		June 30,				March 31,				December 31,				September 30,				June 30,
(Amounts in thousands)			2026				2026				2025				2025				2025
Assets
Cash and due from banks		$	191,965			$	201,308			$	181,429			$	173,954			$	181,565
Interest-bearing deposits with other banks			237,979				607,071				207,116				132,040				150,863
Total cash and cash equivalents			429,944				808,379				388,545				305,994				332,428
Time deposits with other banks			747				2,490				14,424				30,852				1,494
Debt Securities:
Securities available-for-sale (at fair value)			5,174,602				5,069,260				5,164,567				3,212,080				2,866,185
Securities held-to-maturity (at amortized cost)			564,067				576,155				586,178				598,604				613,312
Total debt securities			5,738,669				5,645,415				5,750,745				3,810,684				3,479,497
Loans held for sale			18,565				18,188				16,297				10,841				8,610
Loans			13,145,439				12,641,432				12,627,984				10,964,173				10,608,824
Less: Allowance for credit losses			(182,050	)			(176,252	)			(178,803	)			(147,453	)			(142,184	)
Loans, net of allowance for credit losses			12,963,389				12,465,180				12,449,181				10,816,720				10,466,640
Bank premises and equipment, net			161,008				159,368				160,139				115,392				107,256
Goodwill			1,034,997				1,034,997				1,034,735				754,645				732,417
Other intangible assets, net			174,486				184,980				195,704				76,291				61,328
Bank owned life insurance			335,783				333,174				330,563				323,214				312,860
Net deferred tax assets			64,502				62,300				66,579				74,683				87,328
Other assets			437,982				430,676				435,419				357,588				355,097
Total Assets		$	21,360,072			$	21,145,147			$	20,842,331			$	16,676,904			$	15,944,955
Liabilities
Deposits
Noninterest demand		$	4,216,499			$	4,176,854			$	3,897,985			$	3,611,920			$	3,376,941
Interest-bearing demand			3,870,570				4,057,493				3,993,225				2,753,463				2,518,857
Savings			972,730				979,633				974,694				615,566				557,472
Money market			5,127,372				5,205,762				5,141,519				4,396,458				4,111,789
Time deposits			2,605,124				2,218,207				2,248,920				1,712,912				1,932,539
Total Deposits			16,792,295				16,637,949				16,256,343				13,090,319				12,497,598
Securities sold under agreements to repurchase			373,095				377,460				389,003				236,247				186,090
Federal Home Loan Bank borrowings			835,000				775,000				835,000				690,000				715,000
Long-term debt, net			112,910				112,836				112,761				107,464				107,298
Other liabilities			172,842				181,127				193,437				174,742				167,404
Total Liabilities			18,286,142				18,084,372				17,786,544				14,298,772				13,673,390
Convertible Preferred Stock			343,125				343,125				343,125				—				—
Shareholders' Equity
Common stock			9,878				9,878				9,873				8,864				8,673
Additional paid in capital			2,208,511				2,202,879				2,197,549				1,891,111				1,832,158
Retained earnings			653,623				614,853				603,793				590,384				569,833
Less: Treasury stock			(57,137	)			(31,373	)			(21,358	)			(20,804	)			(20,792	)
Total Shareholders' Equity Before Accumulated Other Comprehensive Loss			2,814,875				2,796,237				2,789,857				2,469,555				2,389,872
Accumulated other comprehensive loss, net			(84,070	)			(78,587	)			(77,195	)			(91,423	)			(118,307	)
Total Shareholders' Equity			2,730,805				2,717,650				2,712,662				2,378,132				2,271,565
Total Liabilities, Convertible Preferred Stock and Shareholders' Equity		$	21,360,072			$	21,145,147			$	20,842,331			$	16,676,904			$	15,944,955
Common shares outstanding			96,823				97,665				97,928				87,856				85,948
Additional common shares treating all convertible preferred shares as common1			11,250				11,250				11,250				—				—
Total common shares outstanding, treating all convertible preferred shares as common			108,073				108,915				109,178				87,856				85,948
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.

CONSOLIDATED QUARTERLY FINANCIAL DATA									(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	Quarterly Trends
(Amounts in thousands)	2Q'26				1Q'26				4Q'25				3Q'25				2Q'25
Credit Analysis
Net charge-offs	$	3,199			$	3,312			$	936			$	3,208			$	2,462
Net charge-offs to average loans		0.10	%			0.11	%			0.03	%			0.12	%			0.09	%
Allowance for credit losses	$	182,050			$	176,252			$	178,803			$	147,453			$	142,184
Non-acquired loans at end of period		10,029,038				9,315,395				9,067,802				8,415,612				8,071,619
Acquired loans at end of period		3,116,401				3,326,037				3,560,182				2,548,561				2,537,205
Total Loans	$	13,145,439			$	12,641,432			$	12,627,984			$	10,964,173			$	10,608,824
Total allowance for credit losses to total loans at end of period		1.38	%			1.39	%			1.42	%			1.34	%			1.34	%
Purchase discount on acquired loans at end of period		3.98				3.99				4.04				3.86				4.10
End of Period
Nonperforming loans	$	86,540			$	95,032			$	72,001			$	60,562			$	64,198
Other real estate owned		3,473				4,250				4,250				5,085				5,335
Total Nonperforming Assets	$	90,013			$	99,282			$	76,251			$	65,647			$	69,533
Nonperforming Loans to Loans at End of Period		0.66	%			0.75	%			0.57	%			0.55	%			0.61	%
Nonperforming Assets to Total Assets at End of Period		0.42				0.47				0.37				0.39				0.44
Loans	June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025				June 30, 2025
Construction and land development	$	856,716			$	745,362			$	723,930			$	616,475			$	603,079
Commercial real estate - owner occupied		2,121,853				2,021,885				2,043,625				1,898,704				1,778,930
Commercial real estate - non-owner occupied		4,237,563				4,178,003				4,254,992				3,766,541				3,624,528
Residential real estate		3,258,274				3,162,509				3,098,859				2,694,794				2,678,042
Commercial and financial		2,477,326				2,353,118				2,320,989				1,807,932				1,741,158
Consumer		193,707				180,555				185,589				179,727				183,087
Total Loans	$	13,145,439			$	12,641,432			$	12,627,984			$	10,964,173			$	10,608,824

AVERAGE BALANCES, INTEREST INCOME AND EXPENSES, YIELDS AND RATES 1															(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	2Q'26											1Q'26											2Q'25
	Average								Yield/			Average								Yield/			Average								Yield/
(Amounts in thousands)	Balance				Interest				Rate			Balance				Interest				Rate			Balance				Interest				Rate
Assets
Earning assets:
Securities:
Taxable	$	5,392,894			$	59,051			4.39	%		$	5,358,307			$	56,579			4.28	%		$	3,364,825			$	32,479			3.87	%
Nontaxable		330,322				4,727			5.74				333,382				4,700			5.72				5,321				40			3.02
Total Securities		5,723,216				63,778			4.47				5,691,689				61,279			4.37				3,370,146				32,519			3.87
Federal funds sold		292,952				2,622			3.59				311,936				2,740			3.56				183,268				2,041			4.47
Interest-bearing deposits with other banks and other investments		178,126				2,194			4.94				188,891				2,144			4.60				137,726				1,720			5.01
Total Loans, net2		12,862,053				188,712			5.88				12,671,180				186,227			5.96				10,558,997				157,499			5.98
Total Earning Assets		19,056,347				257,306			5.42	%			18,863,696				252,390			5.43	%			14,250,137				193,779			5.45	%
Allowance for credit losses		(177,763	)										(179,455	)										(141,442	)
Cash and due from banks		187,161											180,639											152,562
Bank premises and equipment, net		160,756											163,528											108,206
Intangible assets		1,214,829											1,225,602											796,431
Bank owned life insurance		334,159											331,529											312,384
Other assets including deferred tax assets		350,290											339,388											322,916
Total Assets	$	21,125,779										$	20,924,927										$	15,801,194
Liabilities, Convertible Preferred Stock & Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing demand	$	3,976,446			$	11,108			1.12	%		$	3,986,616			$	11,529			1.17	%		$	2,622,944			$	10,249			1.57	%
Savings		976,058				1,300			0.53				972,525				1,260			0.53				545,718				881			0.65
Money market		5,124,668				31,793			2.49				5,176,998				31,797			2.49				4,122,147				29,505			2.87
Time deposits		2,324,117				18,663			3.22				2,181,476				17,583			3.27				1,700,128				15,120			3.57
Securities sold under agreements to repurchase		344,612				1,889			2.20				348,582				1,853			2.16				185,977				1,214			2.62
Federal Home Loan Bank borrowings		915,000				8,608			3.77				847,225				8,429			4.03				724,231				7,803			4.32
Long-term debt, net and other		112,867				1,795			6.38				112,818				1,785			6.42				107,208				1,712			6.41
Total Interest-Bearing Liabilities		13,773,768				75,156			2.19	%			13,626,240				74,236			2.21	%			10,008,353				66,484			2.66	%
Noninterest demand		4,112,281											4,015,315											3,401,138
Other liabilities		164,252											179,591											139,495
Total Liabilities		18,050,301											17,821,146											13,548,986
Convertible preferred stock		343,125											343,125											—
Shareholders' equity		2,732,353											2,760,656											2,252,208
Total Liabilities, Convertible Preferred Stock & Equity	$	21,125,779										$	20,924,927										$	15,801,194
Cost of deposits									1.53	%										1.54	%										1.80	%
Cost of funds3									1.69											1.71											1.99
Interest expense as a % of earning assets									1.58											1.60											1.87
Net interest income as a % of earning assets					$	182,150			3.83	%						$	178,154			3.83	%						$	127,295			3.58	%
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
	Six Months Ended June 30, 2026											Six Months Ended June 30, 2025
	Average								Yield/			Average								Yield/
(Amounts in thousands, except ratios)	Balance				Interest				Rate			Balance				Interest				Rate
Assets
Earning assets:
Securities:
Taxable	$	5,375,696			$	115,630			4.34	%		$	3,219,772			$	61,860			3.87	%
Nontaxable		331,844				9,427			5.73				5,378				82			3.07
Total Securities		5,707,540				125,057			4.42				3,225,150				61,942			3.87
Federal funds sold		302,391				5,362			3.58				224,159				4,986			4.49
Interest-bearing deposits with other banks and other investments		183,479				4,338			4.77				121,550				2,974			4.93
Total Loans, net2		12,767,144				374,939			5.92				10,471,732				308,472			5.94
Total Earning Assets		18,960,554				509,696			5.42	%			14,042,591				378,374			5.43	%
Allowance for credit losses		(178,604	)										(139,879	)
Cash and due from banks		183,918											155,639
Bank premises and equipment, net		162,134											108,427
Intangible assets		1,220,186											799,045
Bank owned life insurance		332,851											311,114
Other assets including deferred tax assets		344,869											322,603
Total Assets	$	21,025,908										$	15,599,540
Liabilities, Convertible Preferred Stock & Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing demand	$	3,981,503			$	22,637			1.15	%		$	2,664,275			$	21,318			1.61	%
Savings		974,301				2,560			0.53				537,759				1,579			0.59
Money market		5,150,688				63,590			2.49				4,135,730				61,362			2.99
Time deposits		2,253,190				36,246			3.24				1,674,177				30,093			3.62
Securities sold under agreements to repurchase		346,586				3,742			2.18				193,581				2,571			2.68
Federal Home Loan Bank borrowings		881,300				17,037			3.90				554,477				11,886			4.32
Long-term debt, net and other		112,843				3,580			6.40				107,123				3,412			6.42
Total Interest-Bearing Liabilities		13,700,411				149,392			2.20	%			9,867,122				132,221			2.70	%
Noninterest demand		4,064,066											3,347,939
Other liabilities		171,879											150,775
Total Liabilities		17,936,356											13,365,836
Convertible preferred stock		343,125											—
Shareholders' equity		2,746,427											2,233,704
Total Liabilities, Convertible Preferred Stock & Equity	$	21,025,908										$	15,599,540
Cost of deposits									1.54	%										1.87	%
Cost of funds3									1.70											2.02
Interest expense as a % of earning assets									1.59											1.90
Net interest income as a % of earning assets					$	360,304			3.83	%						$	246,153			3.53	%
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
		June 30,				March 31,				December 31,				September 30,				June 30,
(Amounts in thousands)			2026				2026				2025				2025				2025
Customer Relationship Funding
Noninterest demand
Commercial		$	3,369,981			$	3,328,553			$	3,053,115			$	2,933,228			$	2,717,688
Retail			665,430				676,152				672,779				508,204				509,539
Public funds			95,381				95,841				112,548				96,396				81,448
Other			85,707				76,308				59,543				74,092				68,266
Total Noninterest Demand			4,216,499				4,176,854				3,897,985				3,611,920				3,376,941
Interest-bearing demand
Commercial			1,573,655				1,627,444				1,534,289				1,586,997				1,466,184
Retail			2,019,505				2,126,907				2,047,462				976,318				838,340
Public funds			277,410				303,142				411,474				190,148				214,333
Total Interest-Bearing Demand			3,870,570				4,057,493				3,993,225				2,753,463				2,518,857
Total transaction accounts
Commercial			4,943,636				4,955,997				4,587,404				4,520,225				4,183,872
Retail			2,684,935				2,803,059				2,720,241				1,484,522				1,347,879
Public funds			372,791				398,983				524,022				286,544				295,781
Other			85,707				76,308				59,543				74,092				68,266
Total Transaction Accounts			8,087,069				8,234,347				7,891,210				6,365,383				5,895,798
Savings
Commercial			40,787				40,481				43,189				43,102				45,531
Retail			931,943				939,152				931,505				572,464				511,941
Total Savings			972,730				979,633				974,694				615,566				557,472
Money market
Commercial			2,444,562				2,396,144				2,334,255				2,303,584				2,073,098
Retail			2,493,658				2,609,435				2,584,398				1,898,375				1,853,398
Public funds			189,152				200,183				222,866				194,499				185,293
Total Money Market			5,127,372				5,205,762				5,141,519				4,396,458				4,111,789
Brokered time certificates			611,578				209,281				120,865				189,561				515,303
Time deposits			1,993,546				2,008,926				2,128,055				1,523,351				1,417,236
Total Time Deposits			2,605,124				2,218,207				2,248,920				1,712,912				1,932,539
Total Deposits			16,792,295				16,637,949				16,256,343				13,090,319				12,497,598
Securities sold under agreements to repurchase			373,095				377,460				389,003				236,247				186,090
Total customer funding1		$	16,553,812			$	16,806,128			$	16,524,481			$	13,137,005			$	12,168,385
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																				Six Months Ended
(Amounts in thousands, except per share data)	2Q'26				1Q'26				4Q'25				3Q'25				2Q'25				2Q'26				2Q'25
Net income	$	59,535			$	31,895			$	34,260			$	36,467			$	42,687			$	91,430			$	74,151
Total noninterest income (loss)		27,778				(12,614	)			28,631				23,818				24,521				15,164				46,701
Securities losses (gains), net		59				39,528				(84	)			841				(39	)			39,587				(235	)
Total adjusted noninterest income		27,837				26,914				28,547				24,659				24,482				54,751				46,466
Total noninterest expense		123,110				122,171				130,546				101,987				91,730				245,281				182,327
Merger and integration costs		(8,358	)			(8,536	)			(18,142	)			(10,808	)			(2,422	)			(16,894	)			(3,473	)
Adjusted noninterest expense		114,752				113,635				112,404				91,179				89,308				228,387				178,854
Income taxes		16,531				9,029				9,192				10,461				12,589				25,560				21,975
Tax effect of adjustments		2,133				12,182				4,577				2,952				604				14,315				821
Adjusted income taxes		18,664				21,211				13,769				13,413				13,193				39,875				22,796
Adjusted net income		65,819				67,777				47,741				45,164				44,466				133,596				76,568
Earnings per common share-diluted, as reported		0.55				0.29				0.31				0.42				0.50				0.84				0.87
Adjusted earnings per common share-diluted	$	0.61			$	0.62			$	0.44			$	0.52			$	0.52			$	1.23			$	0.90
Average common shares-diluted		97,250				97,838				97,761				87,425				85,479				97,549				85,454
Average preferred shares, treating all convertible preferred shares as common		11,250				11,250				11,250				—				—				11,250				—
Average common shares-diluted, treating all convertible preferred shares as common		108,500				109,088				109,011				87,425				85,479				108,799				85,454
Adjusted noninterest expense	$	114,752			$	113,635			$	112,404			$	91,179			$	89,308			$	228,387			$	178,854
Provision for credit losses on unfunded commitments		(150	)			(150	)			(812	)			(150	)			(150	)			(300	)			(300	)
Other real estate owned expense and net (loss) gain on sale		(85	)			(63	)			29				346				(8	)			(148	)			(249	)
Amortization of intangibles		(9,960	)			(10,098	)			(10,374	)			(6,005	)			(5,131	)			(20,058	)			(10,440	)
Net adjusted noninterest expense		104,557				103,324				101,247				85,370				84,019				207,881				167,865
Average tangible assets	$	19,910,950			$	19,699,325			$	19,976,896			$	15,658,723			$	15,004,763			$	19,805,722			$	14,800,495
Net adjusted noninterest expense to average tangible assets		2.11	%			2.13	%			2.01	%			2.16	%			2.25	%			2.12	%			2.29	%
Net revenue	$	208,173			$	163,856			$	203,258			$	157,286			$	151,385			$	372,029			$	292,082
Total adjustments to net revenue		59				39,528				(84	)			841				(39	)			39,587				(235	)
Impact of FTE adjustment		1,755				1,684				1,617				438				431				3,439				772
Adjusted net revenue on a FTE basis	$	209,987			$	205,068			$	204,791			$	158,565			$	151,777			$	415,055			$	292,619
Adjusted efficiency ratio		54.54	%			55.31	%			54.50	%			57.63	%			58.74	%			54.92	%			60.93	%
Net interest income	$	180,395			$	176,470			$	174,627			$	133,468			$	126,864			$	356,865			$	245,381
Impact of FTE adjustment		1,755				1,684				1,617				438				431				3,439				772
Net interest income including FTE adjustment		182,150				178,154				176,244				133,906				127,295				360,304				246,153
Total noninterest income (loss)		27,778				(12,614	)			28,631				23,818				24,521				15,164				46,701
Total noninterest expense less provision for credit losses on unfunded commitments		122,960				122,021				129,734				101,837				91,580				244,981				182,027
Pre-tax pre-provision earnings		86,968				43,519				75,141				55,887				60,236				130,487				110,827
Total adjustments to noninterest income (loss)		59				39,528				(84	)			841				(39	)			39,587				(235	)
Total adjustments to noninterest expense including other real estate owned expense and net (loss) gain on sale		8,443				8,599				18,113				10,462				2,430				17,042				3,722
Adjusted pre-tax pre-provision earnings	$	95,470			$	91,646			$	93,170			$	67,190			$	62,627			$	187,116			$	114,314
Average assets	$	21,125,779			$	20,924,927			$	21,203,391			$	16,486,017			$	15,801,194			$	21,025,908			$	15,599,540
Less average goodwill and intangible assets		(1,214,829	)			(1,225,602	)			(1,226,495	)			(827,294	)			(796,431	)			(1,220,186	)			(799,045	)
Average tangible assets	$	19,910,950			$	19,699,325			$	19,976,896			$	15,658,723			$	15,004,763			$	19,805,722			$	14,800,495
Return on average assets (ROA)		1.13	%			0.62	%			0.64	%			0.88	%			1.08	%			0.88	%			0.96	%
Impact of other adjustments for adjusted net income		0.12				0.69				0.25				0.21				0.05				0.40				0.03
Adjusted ROA		1.25				1.31				0.89				1.09				1.13				1.28				0.99
ROA		1.13				0.62				0.64				0.88				1.08				0.88				0.96
Impact of removing average intangible assets and related amortization		0.22				0.19				0.19				0.16				0.16				0.20				0.16
Return on average tangible assets (ROTA)		1.35				0.81				0.83				1.04				1.24				1.08				1.12
Impact of other adjustments for adjusted net income		0.13				0.74				0.27				0.22				0.05				0.43				0.03
Adjusted ROTA		1.48				1.55				1.10				1.26				1.29				1.51				1.15
Return on average equity (ROE)		8.74				4.69				4.99				6.17				7.60				6.71				6.69
Impact of other adjustments for adjusted net income		0.92				5.27				1.96				1.47				0.32				3.10				0.22
Adjusted ROE		9.66	%			9.96	%			6.95	%			7.64	%			7.92	%			9.81	%			6.91	%
Average shareholders' equity	$	2,732,353			$	2,760,656			$	2,724,208			$	2,345,233			$	2,252,208			$	2,746,427			$	2,233,704
Average convertible preferred stock		343,125				343,125				343,125				—				—				343,125				—
Less average goodwill and intangible assets		(1,214,829	)			(1,225,602	)			(1,226,495	)			(827,294	)			(796,431	)			(1,220,186	)			(799,045	)
Average tangible equity	$	1,860,649			$	1,878,179			$	1,840,838			$	1,517,939			$	1,455,777			$	1,869,366			$	1,434,659
Return on average shareholders' equity		8.74	%			4.69	%			4.99	%			6.17	%			7.60	%			6.71	%			6.69	%
Impact of adding convertible preferred stock and removing average intangible assets and related amortization		5.70				3.82				4.06				4.53				5.22				4.77				4.83
Return on average tangible equity (ROTE)		14.44				8.51				9.05				10.70				12.82				11.48				11.52
Impact of other adjustments for adjusted net income		1.35				7.75				2.91				2.28				0.49				4.55				0.34
Adjusted ROTE		15.79	%			16.26	%			11.96	%			12.98	%			13.31	%			16.03	%			11.86	%
Loan interest income1	$	188,712			$	186,227			$	187,910			$	162,341			$	157,499			$	374,939			$	308,472
Accretion on acquired loans		(8,901	)			(12,094	)			(10,645	)			(9,543	)			(10,583	)			(20,995	)			(18,804	)
Loan interest income excluding accretion on acquired loans1	$	179,811			$	174,133			$	177,265			$	152,798			$	146,916			$	353,944			$	289,668
Yield on loans1		5.88	%			5.96	%			6.02	%			5.96	%			5.98	%			5.92	%			5.94	%
Impact of accretion on acquired loans		(0.27	)			(0.39	)			(0.34	)			(0.35	)			(0.40	)			(0.33	)			(0.36	)
Yield on loans excluding accretion on acquired loans1		5.61	%			5.57	%			5.68	%			5.61	%			5.58	%			5.59	%			5.58	%
Net interest income1	$	182,150			$	178,154			$	176,244			$	133,906			$	127,295			$	360,304			$	246,153
Accretion on acquired loans		(8,901	)			(12,094	)			(10,645	)			(9,543	)			(10,583	)			(20,995	)			(18,804	)
Net interest income excluding accretion on acquired loans1	$	173,249			$	166,060			$	165,599			$	124,363			$	116,712			$	339,309			$	227,349
Net interest margin1		3.83	%			3.83	%			3.66	%			3.57	%			3.58	%			3.83	%			3.53	%
Impact of accretion on acquired loans		(0.18	)			(0.26	)			(0.22	)			(0.25	)			(0.29	)			(0.22	)			(0.27	)
Net interest margin excluding accretion on acquired loans1		3.65	%			3.57	%			3.44	%			3.32	%			3.29	%			3.61	%			3.26	%
Securities interest income1	$	63,778			$	61,279			$	57,852			$	36,029			$	32,519			$	125,057			$	61,942
Tax equivalent adjustment on securities		(1,204	)			(1,188	)			(1,114	)			(10	)			(7	)			(2,392	)			(15	)
Securities interest income excluding tax equivalent adjustment1		62,574				60,091				56,738				36,019				32,512				122,665				61,927
Loan interest income1		188,712				186,227				187,910				162,341				157,499				374,939				308,472
Tax equivalent adjustment on loans		(551	)			(496	)			(503	)			(428	)			(424	)			(1,047	)			(757	)
Loan interest income excluding tax equivalent adjustment		188,161				185,731				187,407				161,913				157,075				373,892				307,715
Net interest income1		182,150				178,154				176,243				133,906				127,295				360,304				246,153
Tax equivalent adjustment on securities		(1,204	)			(1,188	)			(1,114	)			(10	)			(7	)			(2,392	)			(15	)
Tax equivalent adjustment on loans		(551	)			(496	)			(503	)			(428	)			(424	)			(1,047	)			(757	)
Net interest income excluding tax equivalent adjustments	$	180,395			$	176,470			$	174,626			$	133,468			$	126,864			$	356,865			$	245,381
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/20260728786230/en/

Michael Young
Chief Strategy Officer
Seacoast Banking Corporation of Florida
(772) 403-0451

Source: Seacoast Banking Corporation of Florida