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 Bank Expands Presence in Miami-Dade County and enters Ocala and Gainesville with the completion of its acquisitions of Apollo Bancshares and Drummond Banking Company on October 7, 2022. The total merger consideration was approximately $304 million, with Apollo shareholders receiving 1.006529 shares of Seacoast for each share held and Drummond shareholders receiving 51.9561 shares. Apollo Bank has about $930 million in deposits and $736 million in loans, while Drummond boasts $919 million in deposits and $571 million in loans.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) announced that it will release its third quarter 2022 earnings on October 27, after market close. A conference call to discuss the results is scheduled for October 28 at 10:00 a.m. ET, accessible via toll-free number (866) 374-5140 (passcode: 6944 8197#). Investors can find earnings details and presentations on the company's website. As of June 30, 2022, Seacoast holds approximately $10.8 billion in assets and $9.2 billion in deposits.
Seacoast Banking Corporation will acquire Professional Holding Corp. in a strategic move to enhance its presence in South Florida's tri-county market. The transaction, valued at approximately $488.6 million, is expected to be accretive to Seacoast's earnings by 11.8% in 2023 and 15.4% in 2024, with a 2.3-year earnback on tangible book value dilution. Professional, with $2.4 billion in deposits and $2.0 billion in loans, will operate as Seacoast Bank post-acquisition, further strengthening Seacoast’s community banking capabilities.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) reported a second-quarter net income of $32.8 million, a 59% increase from the prior quarter and a 4% increase year-over-year. Adjusted net income was $36.3 million, growing 34% from Q1 2022. The company achieved a net interest margin of 3.38%, reflecting strong loan originations and growth in demand deposits. Seacoast's tangible common equity ratio stood at 9.74%, providing solid capital and liquidity. The company has expanded into new markets and continues to pursue strategic acquisitions, enhancing its competitive presence in Florida.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) declared a quarterly cash dividend of $0.17 per share on July 19, 2022. This dividend will be payable on September 30, 2022 to shareholders on record as of September 15, 2022. The company, with approximately $10.9 billion in assets and $9.2 billion in deposits as of March 31, 2022, offers integrated financial services through over 50 branches in Florida and advanced digital solutions.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) is set to release its Q2 2022 financial results on July 28, post-market. Investors can find the earnings report on the company’s website, with a conference call scheduled for July 29 at 10:00 a.m. ET to discuss the results and business trends. The call will be accessible via a toll-free number and online through a webcast. Seacoast, a leading Florida community bank, reported approximately $10.9 billion in assets and $9.2 billion in deposits as of March 31, 2022.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) has announced an agreement to acquire Drummond Banking Company, enhancing its presence in North Florida. Drummond, with 18 branches and approximately $932 million in deposits, adds stability and growth potential. The merger, valued at about $173.2 million, is projected to be 8.6% accretive to earnings per share in 2023, with a modest dilution of tangible book value expected to be recovered in 1.6 years. The transaction reflects Seacoast's successful M&A strategy and will be finalized in Q4 2022, pending regulatory and shareholder approval.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) reported Q1 2022 net income of $20.6 million, or $0.33 per diluted share, reflecting a 43% decrease from Q4 2021 and 39% from Q1 2021. Adjusted net income was $27.1 million, or $0.44 per share. The bank's net interest margin increased to 3.25%, with total deposits reaching $9.2 billion, a 15% rise from the previous quarter. Despite merger-related expenses impacting profits, strong loan growth through acquisitions and an expanding pipeline position the bank for future gains. The company remains committed to disciplined growth and capital management.
On April 19, 2022, Seacoast Banking Corporation of Florida (NASDAQ: SBCF) announced a quarterly cash dividend increase from $0.13 to $0.17 per share. The dividend will be paid on June 30, 2022, to shareholders on record as of June 15, 2022. With approximately $9.7 billion in assets and $8.1 billion in deposits as of December 31, 2021, Seacoast is one of Florida's largest community banks. The company offers a range of financial services through over 50 branches and advanced banking solutions.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) will release its Q1 2022 earnings on April 28, 2022, after market close. A conference call to discuss the results is scheduled for April 29, 2022, at 10:00 a.m. ET. Investors can participate by calling toll-free (866) 374-5140. Seacoast, a significant community bank with approximately $9.7 billion in assets and $8.1 billion in deposits, offers various financial services through over 50 branches in Florida. Full details, including charts and a replay of the call, will be available on their website.
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