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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) 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.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) declared a quarterly cash dividend of $0.17 per share on October 18, 2022. This dividend is payable on December 30, 2022, to shareholders of record as of December 15, 2022. With approximately $10.8 billion in assets and $9.2 billion in deposits, Seacoast provides various financial services through its network of over 50 branches across Florida and advanced online banking solutions.
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.
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