Welcome to our dedicated page for Seacoast Banking of Florida news (Ticker: SBCF), a resource for investors and traders seeking the latest updates and insights on Seacoast Banking of Florida stock.
Seacoast Banking Corporation of Florida (symbol: SBCF) is a prominent financial institution headquartered in Stuart, Florida. Since its inception in 1926, the bank has grown strategically through a clear vision and the dedication of its professional employees. Seacoast Bank operates as the primary subsidiary, offering a comprehensive suite of financial services.
As one of the largest publicly traded commercial banks in Florida, Seacoast Bank provides integrated financial services, including commercial and consumer banking, wealth management, mortgage and insurance services. The bank combines the personalized service of a community bank with the advanced products and conveniences of a national financial institution.
Seacoast Bank's extensive network of branches extends from Palm Beach County through the Treasure Coast, reaching Orlando, Okeechobee, and surrounding counties. The bank is well-known for its commitment to local decision-making and understanding of the markets it serves, ensuring responsiveness to customer needs.
Recent achievements of Seacoast Banking Corporation include the expansion of their mobile and online banking solutions, enhancing accessibility for customers. The bank also offers specialized services such as treasury management, brokerage, and credit facilities, aiming to cater to a wide range of financial requirements.
Seacoast Banking Corporation's financial stability is underscored by its quality credit culture and the expertise of its professional staff. The company's focus on strategic growth and continuous improvement positions it as a leading entity in Florida's banking industry.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) has declared a quarterly cash dividend, increasing the amount from $0.17 to $0.18 per share. This dividend will be payable on June 30, 2023 to shareholders of record on June 15, 2023.
As one of Florida's largest community banks, Seacoast holds approximately $12.1 billion in assets and $10.0 billion in deposits (as of December 31, 2022). The company offers a range of financial services including banking, wealth management, and mortgage services through over 50 branches in Florida, complemented by advanced online and mobile banking solutions.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) has announced it will release its first quarter 2023 earnings results on April 27 after market close. Investors can access the results on their website, and a conference call will follow on April 28 at 10:00 a.m. ET to discuss the results and business trends. Seacoast, with approximately $12.1 billion in assets and $10.0 billion in deposits as of December 31, 2022, provides a range of financial services across its 50+ branches in Florida. The recording of the conference call will be available for a year.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) has successfully completed its acquisition of Professional Holding Corp. (NASDAQ: PFHD) as of January 31, 2023. This strategic merger aims to strengthen Seacoast's footprint in the South Florida market, particularly by integrating Professional Bank's significant assets, which include approximately $2.2 billion in deposits and $2.1 billion in loans. Under the merger agreement, Professional shareholders received 0.8909 shares of Seacoast common stock for each share held. The acquisition is expected to enhance Seacoast's financial services offering and competitive positioning in the region.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) reported fourth-quarter 2022 net income of $23.9 million, or $0.34 per diluted share, reflecting an 18% decrease from Q3 2022. The bank's adjusted net income rose 22% to $39.9 million. Notably, the net interest margin expanded by 69 basis points to 4.36%, driven by increased loan yields. For the entire year, net income totaled $106.5 million, down 14% from 2021. The company completed acquisitions of Apollo Bancshares and Drummond Banking, contributing significantly to their asset base. Despite increasing operating expenses due to merger-related costs, Seacoast is well-positioned with strong capital metrics.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) announced a quarterly cash dividend of $0.17 per share, declared on January 18, 2023. This dividend will be payable on March 31, 2023, to shareholders of record as of the close of business on March 15, 2023. As of September 30, 2022, the company held approximately $10.3 billion in assets and $8.8 billion in deposits. Seacoast is among Florida's largest community banks and offers a variety of financial services through over 50 branches and advanced digital banking solutions.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) announced that it will release its fourth quarter 2022 earnings on January 26, 2023, after market close. A live conference call is scheduled for January 27 at 10:00 AM ET to discuss these results and business trends. As of September 30, 2022, Seacoast had approximately $10.3 billion in assets and $8.8 billion in deposits, serving customers through over 50 branches and digital platforms. Investors can access earnings details and presentations on the company’s website.
Seacoast Banking Corporation of Florida (SBCF) has renewed its share repurchase program, allowing for the buyback of up to $100 million in common stock, which represents about 4% of outstanding shares. This program will last until December 31, 2023, and purchases can occur through various methods, including open market transactions. The actual buyback will depend on factors like market conditions and the company's financial health, with no obligation to buy a specific number of shares. This initiative aims to enhance shareholder value.
Seacoast Banking Corporation of Florida (SBCF) reported Q3 2022 net income of $29.2 million ($0.47/share), an 11% decrease from Q2 but up 27% year-over-year. Adjusted net income was $32.8 million ($0.53/share), also down 10% from Q2 but up 12% year-over-year. Net interest income rose by 24% to $88.3 million, aided by a 29 basis points increase in net interest margin to 3.67%. Total assets stood at $10.3 billion with tangible common equity ratio at 9.79%. The company successfully completed acquisitions of Apollo and Drummond, significantly expanding its footprint in Florida.
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