Seacoast Reports Third Quarter 2026 Results

Loan growth and higher revenue accompanied rising credit losses, integration costs and a decline in tangible book value per share.

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Continued Improvement Across Profitability Metrics

Robust Organic Loan Growth with Sustained Pipeline Strength

Continued Strong Capital and Liquidity Position

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 third quarter of 2026.

Third Quarter 2026 Highlights

• Net income of $59.9 million, or $0.55 per share, increased 1% from the prior quarter and 64% from the prior year quarter. Adjusted net income¹ of $71.8 million, or $0.66 per share, increased 9% from the prior quarter and 59% from the prior year quarter.
• Adjusted pre-tax pre-provision earnings¹ increased 5% from the prior quarter and 49% from the prior year quarter.
• Net interest income grew 2% from the prior quarter and 37% from the prior year quarter.
• The net interest margin was stable at 3.83% compared to the prior quarter and, excluding accretion on acquired loans, net interest margin expanded one basis point to 3.66%.
• 13% annualized organic loan growth in the third quarter and 10% annualized growth year to date.
• Average noninterest-bearing deposits grew 4% annualized from the prior quarter and noninterest-bearing demand deposits have grown 10% annualized year to date.
• Continued share repurchases, with over 1.2 million shares of common stock repurchased year to date.
• Return on average assets was 1.11% and adjusted return on average assets¹ was 1.34%, compared to 1.25% in the prior quarter.
• Return on average tangible shareholders' equity was 14.34% and adjusted return on average tangible shareholders' equity¹ was 16.89%, compared to 15.79% in the prior quarter.
• Successfully completed the integration of Villages Bancorporation, Inc. (“VBI”), solidifying a long-term growth partnership.

Charles M. Shaffer, Seacoast's Chairman and CEO, said, “Seacoast celebrates its 100^th anniversary this month, and I am incredibly proud of the company we have become and the momentum we are carrying forward. Our third quarter results demonstrate the earnings power of our franchise, with record earnings, strong organic loan growth, and improved operating efficiency. Importantly, we continue to operate from a position of financial strength, with a fortress balance sheet, strong capital, and substantial liquidity.

Shaffer added, “Our team remains focused on serving clients, winning new business, and realizing the benefits of the investments we have made across the organization. Our expanded footprint, experienced bankers, and deep community presence position us well to continue growing relationships and improving productivity. At the same time, our balance sheet strength and financial flexibility give us the capacity to support our customers through economic cycles, invest in our business, and pursue disciplined growth.

Shaffer concluded, “As we enter our second century, I believe Seacoast has never been better positioned. We are larger, stronger, and more capable, with an exceptional team, a strong culture, and the financial strength to capitalize on the opportunities ahead. This quarter’s results reinforce our confidence in Seacoast’s ability to continue growing, improving returns, and creating enduring value for our customers, communities, and shareholders.”

Financial Results

Income Statement

• Net income in the third quarter of 2026 was $59.9 million, or $0.55 per diluted share, compared to $59.5 million, or $0.55 per diluted share, in the prior quarter and $36.5 million, or $0.42 per diluted share, in the prior year quarter. Adjusted net income¹ for the third quarter of 2026 was $71.8 million, or $0.66 per diluted share, compared to $65.8 million, or $0.61 per diluted share, for the prior quarter, and $45.2 million, or $0.52 per diluted share, for the prior year quarter. For the nine months ended September 30, 2026, net income was $151.3 million and adjusted net income¹ was $205.4 million, compared to $110.6 million and $121.7 million, respectively, in the prior year period.
• Net revenues were $215.0 million in the third quarter of 2026, an increase of $6.8 million, or 3%, compared to the prior quarter, and an increase of $57.7 million, or 37%, compared to the prior year quarter. Adjusted net revenues¹ were $217.5 million in the third quarter of 2026, an increase of $7.5 million, or 4%, compared to the prior quarter, and an increase of $58.9 million, or 37%, compared to the prior year quarter. For the nine months ended September 30, 2026, net revenues were $587.0 million, an increase of 31% compared to the prior year period.
• Pre-tax pre-provision earnings on an adjusted basis¹ were $100.3 million in the third quarter of 2026, an increase of $4.9 million, or 5%, compared to the prior quarter, and an increase of $33.1 million, or 49%, compared to the third quarter of 2025. For the nine months ended September 30, 2026, adjusted pre-tax pre-provision earnings¹ were $287.4 million, compared to $181.5 million in the prior year period.
• Net interest income totaled $183.4 million in the third quarter of 2026, an increase of $3.0 million, or 2%, compared to the prior quarter, and an increase of $49.9 million, or 37%, compared to the third quarter of 2025. Interest income on loans increased $9.2 million, or 5%, compared to the prior quarter due to higher average loan balances and higher core loan yields. Accretion on acquired loans was $8.5 million in the third quarter of 2026 compared to $8.9 million in the second quarter of 2026. Securities income decreased $0.8 million, or 1%, compared to the prior quarter as improved securities portfolio yields were more than offset by lower average securities balances. Interest expense on deposits increased $4.3 million, or 7%, compared to the prior quarter due to higher average balances and higher rates.
• Net interest margin was stable at 3.83% in the third quarter of 2026 compared to the second quarter of 2026, and increased 26 basis points compared to 3.57% in the third quarter of 2025. Excluding the effects of accretion on acquired loans, net interest margin expanded one basis point to 3.66% in the third quarter of 2026 compared to 3.65% in the second quarter of 2026, and increased 34 basis points compared to 3.32% in the third quarter of 2025. Loan yields were 5.89%, an increase of one basis point from the prior quarter. Excluding accretion on acquired loans, loan yields were 5.64%, up three basis points from both the prior quarter and the prior year quarter. Securities yields increased to 4.52%, up five basis points from the prior quarter and up 60 basis points from the prior year quarter. The cost of deposits increased seven basis points to 1.60% in the third quarter of 2026 compared to 1.53% in the prior quarter, and declined 21 basis points compared to 1.81% in the third quarter of 2025. The cost of funds increased five basis points to 1.74% compared to the prior quarter, and declined 22 basis points compared to the prior year quarter.
• The Company recorded a provision for credit losses of $6.3 million in the third quarter of 2026, reflecting continued strong loan growth and net charge-offs of $5.4 million. Allowance coverage of 1.41% at September 30, 2026 was higher by three basis points compared to June 30, 2026, and included an $8.4 million measurement period adjustment, identified and recorded in the third quarter of 2026, to the reserve for an acquired VBI loan.
• Noninterest income totaled $31.6 million in the third quarter of 2026, an increase of $3.8 million, or 14%, compared to the prior quarter, and an increase of $7.8 million, or 33%, compared to the prior year quarter. Net securities activity resulted in losses of $0.5 million during the third quarter of 2026. Other changes in the third quarter of 2026 included:
  • Wealth management income totaled $6.1 million, an increase of $0.1 million, or 2%, from the prior quarter and an increase of $1.5 million, or 33%, from the prior year quarter. Assets under management have grown 29% year-over-year with a compound annual growth rate of 22% over the last five years.
  • Mortgage banking income totaled $4.7 million, an increase of $2.0 million, or 73%, from the prior quarter, with higher interest rates driving higher values on mortgage servicing rights, offsetting similar declines earlier in 2026. Comparisons to the prior year quarter are impacted by the October 2025 acquisition of VBI resulting in the addition of mortgage origination activity in The Villages® communities.
  • Insurance agency income totaled $1.8 million, an increase of $0.5 million, or 38%, from the prior quarter and an increase of $0.4 million, or 25%, from the prior year quarter, reflecting continued growth in the business including a small agency acquisition completed in the third quarter of 2026.
  • Other income totaled $7.5 million, an increase of $1.4 million, or 24%, compared to the prior quarter and an increase of $1.5 million, or 24%, from the prior year quarter. Compared to the prior quarter, the third quarter of 2026 included higher swap and syndication fees, higher gains on SBA loan sales and higher unrealized gains on SBIC investments.
• Noninterest expense was $133.3 million in the third quarter of 2026, an increase of $10.2 million, or 8%, compared to the prior quarter, and an increase of $31.3 million, or 31%, compared to the prior year quarter. Merger and integration costs totaled $15.5 million, compared to $8.4 million in the prior quarter and $10.8 million in the prior year quarter. Results for the third quarter of 2026 included:
  • Salaries and employee benefits totaled $63.4 million, an increase of $0.3 million, or 1%, from the prior quarter and an increase of $9.7 million, or 18%, from the prior year quarter.
  • Outsourced data processing costs totaled $12.5 million, an increase of $0.2 million, or 2%, from the prior quarter and an increase of $3.1 million, or 34%, from the prior year quarter.
  • Occupancy and furniture and equipment expenses totaled $12.5 million, an increase of $0.1 million, or 1%, compared to the prior quarter and an increase of $2.7 million, or 27%, from the prior year quarter.
  • Legal and professional fees totaled $2.7 million, an increase of $0.2 million, or 10%, compared to the prior quarter and an increase of $1.1 million, or 63%, from the prior year quarter.
  • Amortization of intangibles totaled $9.9 million, consistent with the prior quarter and an increase of $3.9 million, or 65%, from the prior year quarter.
  • Other expenses totaled $9.4 million, an increase of $1.4 million, or 17%, compared to the prior quarter and an increase of $3.6 million, or 60%, from the prior year quarter.
• The efficiency ratio was 61.0% in the third quarter of 2026, compared to 58.5% in the second quarter of 2026 and 64.4% in the third quarter of 2025. The adjusted efficiency ratio¹ improved to 53.9% in the third quarter of 2026, compared to 54.5% in the second quarter of 2026 and 57.6% in the prior year quarter. The Company remains keenly focused on disciplined expense control while continuing to make investments to support growth.

Balance Sheet

• At September 30, 2026, the Company had total assets of $21.2 billion and total shareholders’ equity of $2.6 billion. Book value per common share was $26.83 as of September 30, 2026, compared to $28.20 as of June 30, 2026, and $27.07 as of September 30, 2025. Tangible book value per share, treating all convertible preferred shares as common was $15.96 as of September 30, 2026, compared to $17.25 as of June 30, 2026, and $17.61 as of September 30, 2025. Higher interest rates and wider spreads led to a decline in accumulated other comprehensive income associated with investment securities and related hedging activities, contributing approximately $1.63 to the decline in tangible book value per share during the third quarter of 2026.
• Debt securities totaled $5.2 billion as of September 30, 2026, a decrease of $551.3 million compared to June 30, 2026. The Company sold $234.0 million in securities during the third quarter of 2026 to fund strong loan growth. Debt securities as of September 30, 2026 included approximately $4.6 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 $553.0 million in securities classified as held-to-maturity with a fair value of $435.3 million.
• Continued strong loan origination volume supported an increase in loan balances of $428.8 million, or 13% annualized, during the third quarter of 2026. The outlook for continued consistent growth remains strong, with commercial loan pipelines totaling $1.3 billion as of September 30, 2026.
• Total deposits were $16.6 billion as of September 30, 2026, compared to $16.8 billion as of June 30, 2026, with the decline including a $159.0 million decrease in brokered deposits and a $105.9 million decline in public funds. Outside of these two funding sources, deposits grew 1.3% annualized in all other categories.
  • Noninterest-bearing demand deposits have grown at an annualized rate of 10% year to date.
  • The cost of deposits increased seven basis points to 1.60% from 1.53% in the prior quarter.
  • At September 30, 2026, customer transaction account balances continued to represent 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 represented 47% of overall customer deposit funding with an average consumer customer balance of $26 thousand. Commercial deposits represented 53% of overall customer deposit funding with an average business customer balance of $120 thousand.
  • Uninsured deposits represented 36% of overall deposit balances as of September 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 and other borrowings that represented 148% of uninsured deposits, and 165% of uninsured and uncollateralized deposits.
• Federal Home Loan Bank and other borrowings averaged $862.1 million at 3.83% for the third quarter of 2026, compared to average borrowings of $915.0 million at 3.77% in the second quarter of 2026 and $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 2.90% at September 30, 2026, 2.88% at June 30, 2026, and 2.50% at September 30, 2025.
• Nonperforming loans were $73.3 million, or 0.54% of total loans, at September 30, 2026, a decrease of $13.3 million, or 15%, from $86.5 million, or 0.66% of total loans, as of June 30, 2026 and an increase of $12.7 million, or 21%, from $60.6 million, or 0.55%, of total loans, at September 30, 2025.
• Accruing past due loans were $27.4 million, or 0.20% of total loans, at September 30, 2026, compared to $20.1 million, or 0.15% of total loans, at June 30, 2026, and $20.3 million, or 0.19% of total loans, at September 30, 2025.
• Net charge-offs were $5.4 million in the third quarter of 2026, compared to $3.2 million in both the second quarter of 2026 and the third quarter of 2025. Net charge-offs for the four most recent quarters averaged 0.10% of total loans.
• The ratio of ACL to total loans was 1.41% at September 30, 2026, an increase of three basis points compared to 1.38% at June 30, 2026, and was 1.34% at September 30, 2025. The increase in coverage is the result of an $8.4 million measurement period adjustment, identified and recorded in the third quarter of 2026, to the reserve for an acquired VBI loan.
• 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 September 30, 2026 at 45% and 250% of total bank-level risk-based capital², respectively, compared to 40% and 230%, respectively, at June 30, 2026. On a consolidated basis and as of September 30, 2026, construction and land development and commercial real estate loans represented 41% and 227%, 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 September 30, 2026 of 14.1%² compared to 14.3% at June 30, 2026, and 14.5% at September 30, 2025. The Total capital ratio was 15.5%², the Common Equity Tier 1 capital ratio was 11.3%², and the Tier 1 leverage ratio was 10.5%² at September 30, 2026. The Company is considered “well-capitalized” based on applicable U.S. regulatory capital ratio requirements.
• Tangible equity to tangible assets³ was 8.63% at September 30, 2026, compared to 9.25% at June 30, 2026, and 9.76% at September 30, 2025, with the decline associated with the impact of higher rates on the securities portfolio recorded through accumulated other comprehensive income. If all held-to-maturity securities were also reflected at fair value, the tangible equity ratio would have been 8.22% at September 30, 2026.
• During 2026, the Company has taken opportunities to leverage its strong capital position by repurchasing over 1.2 million shares of its common stock under its share repurchase program.
• At September 30, 2026, in addition to $303.2 million in cash, the Company had $8.5 billion in available borrowing capacity, including $5.3 billion in available collateralized lines of credit, $2.8 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 September 30, 2026, represented 165% 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 October 28, 2026, at 10:00 a.m. (Eastern Time) to discuss the third quarter of 2026 earnings results and business trends. Investors may call in (toll-free) by dialing (800) 715-9871 (Conference ID: 5608516). 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 $21.2 billion in assets and $16.6 billion in deposits as of September 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 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																				Nine Months Ended
(Amounts in thousands, except ratios and per share data)	3Q'26				2Q'26				1Q'26				4Q'25				3Q'25				3Q'26				3Q'25
Summary of Earnings
Net income	$	59,868			$	59,535			$	31,895			$	34,260			$	36,467			$	151,298			$	110,618
Adjusted net income1		71,846				65,819				67,777				47,741				45,164				205,442				121,732
Net interest income2		185,354				182,150				178,154				176,244				133,906				545,658				380,058
Net interest margin2,3		3.83	%			3.83	%			3.83	%			3.66	%			3.57	%			3.83	%			3.55	%
Pre-tax pre-provision earnings1	$	83,781			$	86,968			$	43,519			$	75,141			$	55,887			$	214,268			$	166,713
Adjusted pre-tax pre-provision earnings1		100,323				95,470				91,646				93,170				67,190				287,439				181,503
Performance Ratios
Return on average assets-GAAP basis3		1.11	%			1.13	%			0.62	%			0.64	%			0.88	%			0.96	%			0.93	%
Adjusted return on average assets1,3		1.34				1.25				1.31				0.89				1.09				1.30				1.02
Return on average tangible assets-GAAP basis3,4		1.33				1.35				0.81				0.83				1.04				1.17				1.09
Adjusted return on average tangible assets1,3,4		1.56				1.48				1.55				1.10				1.26				1.53				1.19
Net adjusted noninterest expense to average tangible assets1,3,4		2.12				2.11				2.13				2.01				2.16				2.12				2.24
Return on average equity-GAAP basis3		8.71				8.74				4.69				4.99				6.17				7.38				6.51
Adjusted return on average equity1,3		10.45				9.66				9.96				6.95				7.64				10.02				7.17
Return on average tangible equity-GAAP basis3,4		14.34				14.44				8.51				9.05				10.70				12.44				11.23
Adjusted return on average tangible equity1,3,4		16.89				15.79				16.26				11.96				12.98				16.32				12.25
Efficiency ratio5		61.00				58.52				59.47				63.36				64.44				59.68				62.94
Adjusted efficiency ratio1		53.87				54.54				55.31				54.50				57.63				54.56				59.77
Noninterest income to total revenue (excluding securities gains/losses)		14.91				13.37				13.23				14.05				15.59				13.86				15.81
Tangible equity to tangible assets4		8.63				9.25				9.24				9.31				9.76				8.63				9.76
Tangible common equity to tangible assets4		6.91				7.55				7.52				7.56				9.76				6.91				9.76
Average loan-to-deposit ratio		79.89				77.89				77.58				73.60				82.99				78.47				84.12
End of period loan-to-deposit ratio		81.96				78.39				76.09				77.78				83.84				81.96				83.84
Per Share Data
Earnings per common share-diluted-GAAP basis	$	0.55			$	0.55			$	0.29			$	0.31			$	0.42			$	1.39			$	1.28
Earnings per common share-basic-GAAP basis		0.56				0.55				0.30				0.32				0.42				1.40				1.30
Adjusted earnings per common share-diluted1		0.66				0.61				0.62				0.44				0.52				1.89				1.41
Book value per common share		26.83				28.20				27.83				27.70				27.07				26.83				27.07
Book value per share, treating all convertible preferred shares as common6		27.22				28.44				28.10				27.99				27.07				27.22				27.07
Tangible book value per common share		14.27				15.71				15.33				15.14				17.61				14.27				17.61
Tangible book value per share, treating all convertible preferred shares as common4,6		15.96				17.25				16.90				16.72				17.61				15.96				17.61
Cash dividends declared on common and preferred stock7		0.19				0.19				0.19				0.19				0.18				0.57				0.54
Other Data
Full-time equivalent employees		1,954				1,964				1,949				1,962				1,601				1,954				1,601
Number of ATMs		193				192				192				191				103				193				103
Full-service banking offices		105				105				104				104				84				105				84
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 common 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.

CONSOLIDATED STATEMENTS OF INCOME												(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	Quarterly Trends																				Nine Months Ended
(Amounts in thousands, except per share data)	3Q'26				2Q'26				1Q'26				4Q'25				3Q'25				3Q'26				3Q'25
Interest and fees on loans	$	197,314			$	188,161			$	185,731			$	187,408			$	161,913			$	571,206			$	469,628
Interest and dividends on securities:
Taxable		58,212				59,051				56,579				53,445				35,975				173,842				97,835
Nontaxable		3,517				3,523				3,512				3,293				44				10,552				111
Interest on interest-bearing deposits and other investments		3,603				4,816				4,884				11,914				4,780				13,303				12,740
Total Interest Income		262,646				255,551				250,706				256,060				202,712				768,903				580,314
Interest on deposits		45,495				44,201				44,586				49,988				43,133				134,282				127,392
Interest on time certificates		21,650				18,663				17,583				20,914				16,341				57,896				46,434
Interest on borrowed money		12,146				12,292				12,067				10,531				9,770				36,505				27,639
Total Interest Expense		79,291				75,156				74,236				81,433				69,244				228,683				201,465
Net Interest Income		183,355				180,395				176,470				174,627				133,468				540,220				378,849
Provision for credit losses		6,297				8,997				761				29,260				8,371				16,055				22,000
Net Interest Income After Provision for Credit Losses		177,058				171,398				175,709				145,367				125,097				524,165				356,849
Noninterest income (loss):
Service charges on deposit accounts		7,088				7,045				6,912				6,472				6,194				21,045				16,914
Wealth management income		6,094				5,968				5,777				5,540				4,578				17,839				13,022
Mortgage banking income		4,739				2,744				2,166				3,108				517				9,649				1,606
Interchange income		2,258				2,093				2,067				2,483				2,008				6,418				5,710
Insurance agency income		1,847				1,336				1,790				1,191				1,481				4,973				4,390
BOLI income		2,647				2,609				2,617				2,687				3,875				7,873				9,723
Other		7,468				6,042				5,585				7,066				6,006				19,095				19,760
Total Noninterest Income Before Securities (Losses) Gains, Net		32,141				27,837				26,914				28,547				24,659				86,892				71,125
Securities (losses) gains, net		(539	)			(59	)			(39,528	)			84				(841	)			(40,126	)			(606	)
Total Noninterest Income (Loss)		31,602				27,778				(12,614	)			28,631				23,818				46,766				70,519
Noninterest expense:
Salaries and employee benefits		63,441				63,115				62,645				62,432				53,697				189,201				157,350
Outsourced data processing costs		12,465				12,242				11,995				11,257				9,337				36,702				26,366
Occupancy		9,385				9,591				9,235				9,330				7,627				28,211				22,460
Furniture and equipment		3,150				2,803				2,821				2,935				2,233				8,774				6,486
Marketing		3,515				3,525				3,467				3,149				2,509				10,507				8,215
Legal and professional fees		2,726				2,480				3,170				2,106				1,674				8,376				6,485
FDIC assessments		3,126				2,759				3,195				2,876				2,414				9,080				6,716
Amortization of intangibles		9,934				9,960				10,098				10,374				6,005				29,992				16,445
Other real estate owned expense and net loss (gain) on sale		497				85				63				(29	)			(346	)			645				(97	)
Provision for credit losses on unfunded commitments		150				150				150				812				150				450				450
Merger and integration costs		15,506				8,358				8,536				18,142				10,808				32,400				14,281
Other		9,430				8,042				6,796				7,162				5,879				24,268				19,157
Total Noninterest Expense		133,325				123,110				122,171				130,546				101,987				378,606				284,314
Income Before Income Taxes		75,335				76,066				40,924				43,452				46,928				192,325				143,054
Provision for income tax expense		15,467				16,531				9,029				9,192				10,461				41,027				32,436
Net Income		59,868				59,535				31,895				34,260				36,467				151,298				110,618
Preferred dividends		2,138				2,138				2,138				2,138				—				6,414				—
Net Income Available to Common Shareholders	$	57,730			$	57,397			$	29,757			$	32,122			$	36,467			$	144,884			$	110,618
Share Data
Net income per share of common stock
Diluted	$	0.55			$	0.55			$	0.29			$	0.31			$	0.42			$	1.39			$	1.28
Diluted, treating all convertible preferred shares as common1		0.55				0.55				0.29				0.31				0.42				1.39				1.28
Basic	$	0.56			$	0.55			$	0.30			$	0.32			$	0.42			$	1.40			$	1.30
Average common shares outstanding
Diluted		97,237				97,250				97,838				97,761				87,425				97,487				86,154
Additional common shares treating all convertible preferred shares as common1		11,250				11,250				11,250				11,250				—				11,250				—
Diluted, treating all convertible preferred shares as common1		108,487				108,500				109,088				109,011				87,425				108,737				86,154
Basic		96,269				96,438				96,840				96,816				86,619				96,514				85,398
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
		September 30,				June 30,				March 31,				December 31,				September 30,
(Amounts in thousands)			2026				2026				2026				2025				2025
Assets
Cash and due from banks		$	188,512			$	191,965			$	201,308			$	181,429			$	173,954
Interest-bearing deposits with other banks			114,733				237,979				607,071				207,116				132,040
Total cash and cash equivalents			303,245				429,944				808,379				388,545				305,994
Time deposits with other banks			498				747				2,490				14,424				30,852
Debt Securities:
Securities available-for-sale (at fair value)			4,634,355				5,174,602				5,069,260				5,164,567				3,212,080
Securities held-to-maturity (at amortized cost)			552,982				564,067				576,155				586,178				598,604
Total debt securities			5,187,337				5,738,669				5,645,415				5,750,745				3,810,684
Loans held for sale			14,462				18,565				18,188				16,297				10,841
Loans			13,574,211				13,145,439				12,641,432				12,627,984				10,964,173
Less: Allowance for credit losses			(191,355	)			(182,050	)			(176,252	)			(178,803	)			(147,453	)
Loans, net of allowance for credit losses			13,382,856				12,963,389				12,465,180				12,449,181				10,816,720
Bank premises and equipment, net			159,202				161,008				159,368				160,139				115,392
Goodwill			1,045,014				1,034,997				1,034,997				1,034,735				754,645
Other intangible assets, net			170,202				174,486				184,980				195,704				76,291
Bank owned life insurance			338,431				335,783				333,174				330,563				323,214
Net deferred tax assets			123,056				64,502				62,300				66,579				74,683
Other assets			469,063				437,982				430,676				435,419				357,588
Total Assets		$	21,193,366			$	21,360,072			$	21,145,147			$	20,842,331			$	16,676,904
Liabilities
Deposits
Noninterest demand		$	4,191,935			$	4,216,499			$	4,176,854			$	3,897,985			$	3,611,920
Interest-bearing demand			3,719,536				3,870,570				4,057,493				3,993,225				2,753,463
Savings			978,269				972,730				979,633				974,694				615,566
Money market			5,210,770				5,127,372				5,205,762				5,141,519				4,396,458
Time deposits			2,479,649				2,605,124				2,218,207				2,248,920				1,712,912
Total Deposits			16,580,159				16,792,295				16,637,949				16,256,343				13,090,319
Securities sold under agreements to repurchase			316,766				373,095				377,460				389,003				236,247
Federal Home Loan Bank and other borrowings			985,000				835,000				775,000				835,000				690,000
Long-term debt, net			112,985				112,910				112,836				112,761				107,464
Other liabilities			259,583				172,842				181,127				193,437				174,742
Total Liabilities			18,254,493				18,286,142				18,084,372				17,786,544				14,298,772
Convertible Preferred Stock			343,125				343,125				343,125				343,125				—
Shareholders' Equity
Common stock			9,888				9,878				9,878				9,873				8,864
Additional paid in capital			2,216,867				2,208,511				2,202,879				2,197,549				1,891,111
Retained earnings			692,658				653,623				614,853				603,793				590,384
Less: Treasury stock			(63,498	)			(57,137	)			(31,373	)			(21,358	)			(20,804	)
Total Shareholders' Equity Before Accumulated Other Comprehensive Loss			2,855,915				2,814,875				2,796,237				2,789,857				2,469,555
Accumulated other comprehensive loss, net			(260,167	)			(84,070	)			(78,587	)			(77,195	)			(91,423	)
Total Shareholders' Equity			2,595,748				2,730,805				2,717,650				2,712,662				2,378,132
Total Liabilities, Convertible Preferred Stock and Shareholders' Equity		$	21,193,366			$	21,360,072			$	21,145,147			$	20,842,331			$	16,676,904
Common shares outstanding			96,734				96,823				97,665				97,928				87,856
Additional common shares treating all convertible preferred shares as common1			11,250				11,250				11,250				11,250				—
Total common shares outstanding, treating all convertible preferred shares as common			107,984				108,073				108,915				109,178				87,856
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)	3Q'26				2Q'26				1Q'26				4Q'25				3Q'25
Credit Analysis
Net charge-offs	$	5,391			$	3,199			$	3,312			$	936			$	3,208
Net charge-offs to average loans		0.16	%			0.10	%			0.11	%			0.03	%			0.12	%
Allowance for credit losses	$	191,355			$	182,050			$	176,252			$	178,803			$	147,453
Non-acquired loans at end of period		10,585,224				10,029,038				9,315,395				9,067,802				8,415,612
Acquired loans at end of period		2,988,987				3,116,401				3,326,037				3,560,182				2,548,561
Total Loans	$	13,574,211			$	13,145,439			$	12,641,432			$	12,627,984			$	10,964,173
Total allowance for credit losses to total loans at end of period		1.41	%			1.38	%			1.39	%			1.42	%			1.34	%
Purchase discount on acquired loans at end of period		3.88				3.98				3.99				4.04				3.86
End of Period
Nonperforming loans	$	73,283			$	86,540			$	95,032			$	72,001			$	60,562
Other real estate owned		3,263				3,473				4,250				4,250				5,085
Total Nonperforming Assets	$	76,546			$	90,013			$	99,282			$	76,251			$	65,647
Nonperforming Loans to Loans at End of Period		0.54	%			0.66	%			0.75	%			0.57	%			0.55	%
Nonperforming Assets to Total Assets at End of Period		0.36				0.42				0.47				0.37				0.39
Loans	September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025
Construction and land development	$	946,988			$	856,716			$	745,362			$	723,930			$	616,475
Commercial real estate - owner occupied		2,177,048				2,121,853				2,021,885				2,043,625				1,898,704
Commercial real estate - non-owner occupied		4,485,279				4,237,563				4,178,003				4,254,992				3,766,541
Residential real estate		3,281,455				3,258,274				3,162,509				3,098,859				2,694,794
Commercial and financial		2,490,919				2,477,326				2,353,118				2,320,989				1,807,932
Consumer		192,522				193,707				180,555				185,589				179,727
Total Loans	$	13,574,211			$	13,145,439			$	12,641,432			$	12,627,984			$	10,964,173

AVERAGE BALANCES, INTEREST INCOME AND EXPENSES, YIELDS AND RATES1																(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	3Q'26										2Q'26										3Q'25
	Average							Yield/			Average							Yield/			Average							Yield/
(Amounts in thousands)	Balance				Interest			Rate			Balance				Interest			Rate			Balance				Interest			Rate
Assets
Earning assets:
Securities:
Taxable	$	5,190,690			$	58,212		4.45	%		$	5,392,894			$	59,051		4.39	%		$	3,644,261			$	35,975		3.92	%
Nontaxable		327,915				4,719		5.71				330,322				4,727		5.74				6,752				54		3.17
Total Securities		5,518,605				62,931		4.52				5,723,216				63,778		4.47				3,651,013				36,029		3.92
Federal funds sold		168,287				1,577		3.72				292,952				2,622		3.59				258,779				2,896		4.44
Interest-bearing deposits with other banks and other investments		165,698				2,026		4.85				178,126				2,194		4.94				166,683				1,884		4.48
Total Loans, net2		13,341,725				198,111		5.89				12,862,053				188,712		5.88				10,805,143				162,341		5.96
Total Earning Assets		19,194,315				264,645		5.47	%			19,056,347				257,306		5.42	%			14,881,618				203,150		5.42	%
Allowance for credit losses		(183,480	)									(177,763	)									(144,051	)
Cash and due from banks		194,192										187,161										166,884
Bank premises and equipment, net		161,111										160,756										114,719
Intangible assets		1,208,953										1,214,829										827,294
Bank owned life insurance		336,807										334,159										321,754
Other assets including deferred tax assets		395,196										350,290										317,799
Total Assets	$	21,307,094									$	21,125,779									$	16,486,017
Liabilities, Convertible Preferred Stock & Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing demand	$	3,807,997			$	10,059		1.05	%		$	3,976,446			$	11,108		1.12	%		$	2,671,750			$	10,623		1.58	%
Savings		977,608				1,536		0.62				976,058				1,300		0.53				617,479				1,111		0.71
Money market		5,220,359				33,900		2.58				5,124,668				31,793		2.49				4,362,662				31,393		2.85
Time deposits		2,541,031				21,650		3.38				2,324,117				18,663		3.22				1,826,068				16,341		3.55
Securities sold under agreements to repurchase		353,074				1,994		2.24				344,612				1,889		2.20				224,328				1,359		2.40
Federal Home Loan Bank and other borrowings		862,109				8,331		3.83				915,000				8,608		3.77				637,826				6,703		4.17
Long-term debt, net and other		112,941				1,821		6.40				112,867				1,795		6.38				107,372				1,714		6.33
Total Interest-Bearing Liabilities		13,875,119				79,291		2.27	%			13,773,768				75,156		2.19	%			10,447,485				69,244		2.63	%
Noninterest demand		4,152,498										4,112,281										3,541,749
Other liabilities		208,520										164,252										151,550
Total Liabilities		18,236,137										18,050,301										14,140,784
Convertible preferred stock		343,125										343,125										—
Shareholders' equity		2,727,832										2,732,353										2,345,233
Total Liabilities, Convertible Preferred Stock & Equity	$	21,307,094									$	21,125,779									$	16,486,017
Cost of deposits								1.60	%									1.53	%									1.81	%
Cost of funds3								1.74										1.69										1.96
Interest expense as a % of earning assets								1.64										1.58										1.85
Net interest income as a % of earning assets					$	185,354		3.83	%						$	182,150		3.83	%						$	133,906		3.57	%
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 RATES1										(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
	Nine Months Ended September 30, 2026										Nine Months Ended September 30, 2025
	Average							Yield/			Average							Yield/
(Amounts in thousands, except ratios)	Balance				Interest			Rate			Balance				Interest			Rate
Assets
Earning assets:
Securities:
Taxable	$	5,313,350			$	173,842		4.37	%		$	3,362,823			$	97,835		3.89	%
Nontaxable		330,520				14,147		5.72				5,841				136		3.11
Total Securities		5,643,870				187,989		4.45				3,368,664				97,971		3.89
Federal funds sold		257,199				6,939		3.61				235,825				7,882		4.47
Interest-bearing deposits with other banks and other investments		177,487				6,364		4.79				136,760				4,858		4.75
Total Loans, net2		12,960,775				573,049		5.91				10,584,090				470,812		5.95
Total Earning Assets		19,039,331				774,341		5.44	%			14,325,339				581,523		5.43	%
Allowance for credit losses		(180,248	)									(141,285	)
Cash and due from banks		187,380										159,428
Bank premises and equipment, net		161,789										110,548
Intangible assets		1,216,400										808,564
Bank owned life insurance		334,184										314,700
Other assets including deferred tax assets		361,829										320,985
Total Assets	$	21,120,665									$	15,898,279
Liabilities, Convertible Preferred Stock & Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing demand	$	3,923,032			$	32,696		1.11	%		$	2,666,794			$	31,941		1.60	%
Savings		975,415				4,096		0.56				564,624				2,690		0.64
Money market		5,174,167				97,490		2.52				4,212,205				92,760		2.94
Time deposits		2,350,192				57,896		3.29				1,725,364				46,434		3.60
Securities sold under agreements to repurchase		348,772				5,736		2.20				203,943				3,930		2.58
Federal Home Loan Bank and other borrowings		874,832				25,368		3.88				582,565				18,584		4.27
Long-term debt, net and other		112,876				5,401		6.40				107,207				5,126		6.39
Total Interest-Bearing Liabilities		13,759,286				228,683		2.22	%			10,062,702				201,465		2.68	%
Noninterest demand		4,093,867										3,413,252
Other liabilities		184,227										151,036
Total Liabilities		18,037,380										13,626,990
Convertible preferred stock		343,125										—
Shareholders' equity		2,740,160										2,271,289
Total Liabilities, Convertible Preferred Stock & Equity	$	21,120,665									$	15,898,279
Cost of deposits								1.56	%									1.85	%
Cost of funds3								1.71										2.00
Interest expense as a % of earning assets								1.61										1.88
Net interest income as a % of earning assets					$	545,658		3.83	%						$	380,058		3.55	%
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
		September 30,			June 30,			March 31,			December 31,			September 30,
(Amounts in thousands)		2026			2026			2026			2025			2025
Customer Relationship Funding
Noninterest demand
Commercial		$	3,358,568		$	3,369,981		$	3,328,553		$	3,053,115		$	2,933,228
Retail			675,411			665,430			676,152			672,779			508,204
Public funds			72,972			95,381			95,841			112,548			96,396
Other			84,984			85,707			76,308			59,543			74,092
Total Noninterest Demand			4,191,935			4,216,499			4,176,854			3,897,985			3,611,920
Interest-bearing demand
Commercial			1,551,480			1,573,655			1,627,444			1,534,289			1,586,997
Retail			1,977,618			2,019,505			2,126,907			2,047,462			976,318
Public funds			190,438			277,410			303,142			411,474			190,148
Total Interest-Bearing Demand			3,719,536			3,870,570			4,057,493			3,993,225			2,753,463
Total transaction accounts
Commercial			4,910,048			4,943,636			4,955,997			4,587,404			4,520,225
Retail			2,653,029			2,684,935			2,803,059			2,720,241			1,484,522
Public funds			263,410			372,791			398,983			524,022			286,544
Other			84,984			85,707			76,308			59,543			74,092
Total Transaction Accounts			7,911,471			8,087,069			8,234,347			7,891,210			6,365,383
Savings
Commercial			42,052			40,787			40,481			43,189			43,102
Retail			936,217			931,943			939,152			931,505			572,464
Total Savings			978,269			972,730			979,633			974,694			615,566
Money market
Commercial			2,527,339			2,444,562			2,396,144			2,334,255			2,303,584
Retail			2,490,837			2,493,658			2,609,435			2,584,398			1,898,375
Public funds			192,594			189,152			200,183			222,866			194,499
Total Money Market			5,210,770			5,127,372			5,205,762			5,141,519			4,396,458
Brokered time certificates			452,610			611,578			209,281			120,865			189,561
Time deposits			2,027,039			1,993,546			2,008,926			2,128,055			1,523,351
Total Time Deposits			2,479,649			2,605,124			2,218,207			2,248,920			1,712,912
Total Deposits			16,580,159			16,792,295			16,637,949			16,256,343			13,090,319
Securities sold under agreements to repurchase			316,766			373,095			377,460			389,003			236,247
Total customer funding1		$	16,444,315		$	16,553,812		$	16,806,128		$	16,524,481		$	13,137,005
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																				Nine Months Ended
(Amounts in thousands, except per share data)	3Q'26				2Q'26				1Q'26				4Q'25				3Q'25				3Q'26				3Q'25
Net income	$	59,868			$	59,535			$	31,895			$	34,260			$	36,467			$	151,298			$	110,618
Total noninterest income (loss)		31,602				27,778				(12,614	)			28,631				23,818				46,766				70,519
Securities losses (gains), net		539				59				39,528				(84	)			841				40,126				606
Total adjusted noninterest income		32,141				27,837				26,914				28,547				24,659				86,892				71,125
Total noninterest expense		133,325				123,110				122,171				130,546				101,987				378,606				284,314
Merger and integration costs		(15,506	)			(8,358	)			(8,536	)			(18,142	)			(10,808	)			(32,400	)			(14,281	)
Adjusted noninterest expense		117,819				114,752				113,635				112,404				91,179				346,206				270,033
Income taxes		15,467				16,531				9,029				9,192				10,461				41,027				32,436
Tax effect of adjustments		4,067				2,133				12,182				4,577				2,952				18,382				3,773
Adjusted income taxes		19,534				18,664				21,211				13,769				13,413				59,409				36,209
Adjusted net income		71,846				65,819				67,777				47,741				45,164				205,442				121,732
Earnings per common share-diluted, as reported		0.55				0.55				0.29				0.31				0.42				1.39				1.28
Adjusted earnings per common share-diluted	$	0.66			$	0.61			$	0.62			$	0.44			$	0.52			$	1.89			$	1.41
Average common shares-diluted		97,237				97,250				97,838				97,761				87,425				97,487				86,154
Average preferred shares, treating all convertible preferred shares as common		11,250				11,250				11,250				11,250				—				11,250				—
Average common shares-diluted, treating all convertible preferred shares as common		108,487				108,500				109,088				109,011				87,425				108,737				86,154
Adjusted noninterest expense	$	117,819			$	114,752			$	113,635			$	112,404			$	91,179			$	346,206			$	270,033
Provision for credit losses on unfunded commitments		(150	)			(150	)			(150	)			(812	)			(150	)			(450	)			(450	)
Other real estate owned expense and net (loss) gain on sale		(497	)			(85	)			(63	)			29				346				(645	)			97
Amortization of intangibles		(9,934	)			(9,960	)			(10,098	)			(10,374	)			(6,005	)			(29,992	)			(16,445	)
Net adjusted noninterest expense		107,238				104,557				103,324				101,247				85,370				315,119				253,235
Average tangible assets	$	20,098,141			$	19,910,950			$	19,699,325			$	19,976,896			$	15,658,723			$	19,904,265			$	15,089,715
Net adjusted noninterest expense to average tangible assets		2.12	%			2.11	%			2.13	%			2.01	%			2.16	%			2.12	%			2.24	%
Net revenue	$	214,957			$	208,173			$	163,856			$	203,258			$	157,286			$	586,986			$	449,368
Total adjustments to net revenue		539				59				39,528				(84	)			841				40,126				606
Impact of FTE adjustment		1,999				1,755				1,684				1,617				438				5,438				1,209
Adjusted net revenue on a FTE basis	$	217,495			$	209,987			$	205,068			$	204,791			$	158,565			$	632,550			$	451,183
Adjusted efficiency ratio		53.87	%			54.54	%			55.31	%			54.50	%			57.63	%			54.56	%			59.77	%
Net interest income	$	183,355			$	180,395			$	176,470			$	174,627			$	133,468			$	540,220			$	378,849
Impact of FTE adjustment		1,999				1,755				1,684				1,617				438				5,438				1,209
Net interest income including FTE adjustment		185,354				182,150				178,154				176,244				133,906				545,658				380,058
Total noninterest income (loss)		31,602				27,778				(12,614	)			28,631				23,818				46,766				70,519
Total noninterest expense less provision for credit losses on unfunded commitments		133,175				122,960				122,021				129,734				101,837				378,156				283,864
Pre-tax pre-provision earnings		83,781				86,968				43,519				75,141				55,887				214,268				166,713
Total adjustments to noninterest income (loss)		539				59				39,528				(84	)			841				40,126				606
Total adjustments to noninterest expense including other real estate owned expense and net (loss) gain on sale		16,003				8,443				8,599				18,113				10,462				33,045				14,184
Adjusted pre-tax pre-provision earnings	$	100,323			$	95,470			$	91,646			$	93,170			$	67,190			$	287,439			$	181,503
Average assets	$	21,307,094			$	21,125,779			$	20,924,927			$	21,203,391			$	16,486,017			$	21,120,665			$	15,898,279
Less average goodwill and intangible assets		(1,208,953	)			(1,214,829	)			(1,225,602	)			(1,226,495	)			(827,294	)			(1,216,400	)			(808,564	)
Average tangible assets	$	20,098,141			$	19,910,950			$	19,699,325			$	19,976,896			$	15,658,723			$	19,904,265			$	15,089,715
Return on average assets (ROA)		1.11	%			1.13	%			0.62	%			0.64	%			0.88	%			0.96	%			0.93	%
Impact of other adjustments for adjusted net income		0.23				0.12				0.69				0.25				0.21				0.34				0.09
Adjusted ROA		1.34				1.25				1.31				0.89				1.09				1.30				1.02
ROA		1.11				1.13				0.62				0.64				0.88				0.96				0.93
Impact of removing average intangible assets and related amortization		0.22				0.22				0.19				0.19				0.16				0.21				0.16
Return on average tangible assets (ROTA)		1.33				1.35				0.81				0.83				1.04				1.17				1.09
Impact of other adjustments for adjusted net income		0.23				0.13				0.74				0.27				0.22				0.36				0.10
Adjusted ROTA		1.56				1.48				1.55				1.10				1.26				1.53				1.19
Return on average equity (ROE)		8.71				8.74				4.69				4.99				6.17				7.38				6.51
Impact of other adjustments for adjusted net income		1.74				0.92				5.27				1.96				1.47				2.64				0.65
Adjusted ROE		10.45	%			9.66	%			9.96	%			6.95	%			7.64	%			10.02	%			7.17	%
Average shareholders' equity	$	2,727,832			$	2,732,353			$	2,760,656			$	2,724,208			$	2,345,233			$	2,740,160			$	2,271,289
Average convertible preferred stock		343,125				343,125				343,125				343,125				—				343,125				—
Less average goodwill and intangible assets		(1,208,953	)			(1,214,829	)			(1,225,602	)			(1,226,495	)			(827,294	)			(1,216,400	)			(808,564	)
Average tangible equity	$	1,862,004			$	1,860,649			$	1,878,179			$	1,840,838			$	1,517,939			$	1,866,885			$	1,462,725
ROE		8.71	%			8.74	%			4.69	%			4.99	%			6.17	%			7.38	%			6.51	%
Impact of adding convertible preferred stock and removing average intangible assets and related amortization		5.63				5.70				3.82				4.06				4.53				5.06				4.72
Return on average tangible equity (ROTE)		14.34				14.44				8.51				9.05				10.70				12.44				11.23
Impact of other adjustments for adjusted net income		2.55				1.35				7.75				2.91				2.28				3.88				1.02
Adjusted ROTE		16.89	%			15.79	%			16.26	%			11.96	%			12.98	%			16.32	%			12.25	%
Loan interest income1	$	198,111			$	188,712			$	186,227			$	187,910			$	162,341			$	573,049			$	470,812
Accretion on acquired loans		(8,493	)			(8,901	)			(12,094	)			(10,645	)			(9,543	)			(29,488	)			(28,347	)
Loan interest income excluding accretion on acquired loans1	$	189,618			$	179,811			$	174,133			$	177,265			$	152,798			$	543,561			$	442,465
Yield on loans1		5.89	%			5.88	%			5.96	%			6.02	%			5.96	%			5.91	%			5.95	%
Impact of accretion on acquired loans		(0.25	)			(0.27	)			(0.39	)			(0.34	)			(0.35	)			(0.30	)			(0.36	)
Yield on loans excluding accretion on acquired loans1		5.64	%			5.61	%			5.57	%			5.68	%			5.61	%			5.61	%			5.59	%
Net interest income1	$	185,354			$	182,150			$	178,154			$	176,244			$	133,906			$	545,658			$	380,058
Accretion on acquired loans		(8,493	)			(8,901	)			(12,094	)			(10,645	)			(9,543	)			(29,488	)			(28,347	)
Net interest income excluding accretion on acquired loans1	$	176,861			$	173,249			$	166,060			$	165,599			$	124,363			$	516,170			$	351,711
Net interest margin1		3.83	%			3.83	%			3.83	%			3.66	%			3.57	%			3.83	%			3.55	%
Impact of accretion on acquired loans		(0.17	)			(0.18	)			(0.26	)			(0.22	)			(0.25	)			(0.21	)			(0.27	)
Net interest margin excluding accretion on acquired loans1		3.66	%			3.65	%			3.57	%			3.44	%			3.32	%			3.62	%			3.28	%
Securities interest income1	$	62,931			$	63,778			$	61,279			$	57,852			$	36,029			$	187,989			$	97,971
Tax equivalent adjustment on securities		(1,202	)			(1,204	)			(1,188	)			(1,114	)			(10	)			(3,594	)			(25	)
Securities interest income excluding tax equivalent adjustment		61,729				62,574				60,091				56,738				36,019				184,395				97,946
Loan interest income1		198,111				188,712				186,227				187,910				162,341				573,049				470,812
Tax equivalent adjustment on loans		(797	)			(551	)			(496	)			(503	)			(428	)			(1,844	)			(1,184	)
Loan interest income excluding tax equivalent adjustment		197,314				188,161				185,731				187,407				161,913				571,205				469,628
Net interest income1		185,354				182,150				178,154				176,243				133,906				545,658				380,058
Tax equivalent adjustment on securities		(1,202	)			(1,204	)			(1,188	)			(1,114	)			(10	)			(3,594	)			(25	)
Tax equivalent adjustment on loans		(797	)			(551	)			(496	)			(503	)			(428	)			(1,844	)			(1,184	)
Net interest income excluding tax equivalent adjustments	$	183,355			$	180,395			$	176,470			$	174,626			$	133,468			$	540,220			$	378,849
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/20261027793269/en/

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

Source: Seacoast Banking Corporation of Florida

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.

net charge-offs financial

Net charge-offs are the amount of loans or credit a lender removes from its books as uncollectible after subtracting any money later recovered from previously written-off accounts. Think of it like a store writing off unpaid tabs but getting back a few dollars later — the net figure shows the real loss. Investors watch this to judge a lender’s loan quality, future profits and how much capital may be needed to cover bad debts.

nonperforming loans financial

Nonperforming loans are loans on which borrowers have stopped making the scheduled interest or principal payments for an extended period (commonly 90 days or more) or are otherwise in serious danger of default. Think of them as IOUs that aren’t being repaid: they tie up a lender’s money, reduce future interest income, and force the lender to hold extra reserves or take losses. For investors, a rising share of nonperforming loans signals weakening credit quality, higher potential losses, and greater risk to a bank’s profitability and capital.

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.

held-to-maturity financial

A held-to-maturity asset is a debt investment a company plans and is able to keep until the loan or bond reaches its scheduled end, when the principal is repaid. For investors, this classification matters because the holder treats the investment like a locked-in loan—avoiding short-term price swings in financial statements and signaling a steady income expectation, similar to lending money to a friend with a fixed repayment date.

tier 1 capital ratio regulatory

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.