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 announced its agreement to acquire Apollo Bancshares, Inc., enhancing its presence in Miami-Dade County, Florida. The transaction, valued at approximately $168.3 million, adds Apollo's assets of $928 million in deposits and $665 million in loans. Seacoast expects this acquisition to increase deposits in the Miami-Fort Lauderdale area by 45%, reaching around $2.7 billion, and to be 8.0% accretive to earnings per share in 2023. Closing is anticipated in early Q4 2022.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) has appointed James Stallings as executive vice president and chief credit officer, succeeding Richard Raiford. Stallings brings nearly 25 years of experience in banking and credit risk, notably enhancing BB&T's growth during his tenure. Chuck Shaffer, CEO, emphasized Stallings’ expertise in credit risk administration, which aligns with the company’s goal for disciplined growth. As of December 31, 2021, Seacoast Banking had approximately $9.7 billion in assets and $8.1 billion in deposits and operates over 50 branches in Florida.
Seacoast Banking Corporation of Florida announces leadership changes effective February 3, 2022. CEO Charles M. Shaffer will also become Chairman of the Board, succeeding Dennis S. Hudson III, who remains a board member. Shaffer emphasized the company’s ongoing growth strategy and commitment to enhancing shareholder value. Under his leadership, tangible book value has increased, and expansions are underway in commercial banking and technology. This transition follows a planned succession strategy initiated in 2020.
Seacoast Banking Corporation of Florida reported a strong performance for Q4 and the full year 2021. Net income reached $36.3 million for Q4, representing a 58% increase from the prior quarter and a 24% year-over-year rise. The total net income for 2021 was $124.4 million, up 60% from 2020. Key metrics include a return on average tangible equity of 14.29% and a tangible common equity ratio of 11.09%. Following the acquisition of Sabal Palm Bancorp and Business Bank of Florida, growth initiatives continue, driven by enhanced digital experiences and a strong recruitment drive.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) declared a quarterly cash dividend of $0.13 per share on January 25, 2022. This dividend is to be paid on March 31, 2022 to shareholders who are on record as of the close of business on March 15, 2022. As of September 30, 2021, the company reported approximately $9.9 billion in assets and $8.3 billion in deposits, offering a range of financial services through 52 branches across Florida.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) announced the completion of two acquisitions: Sabal Palm Bancorp, Inc. and Business Bank of Florida, effective January 3, 2022. Sabal Palm Bank held approximately $389 million in deposits and $252 million in loans, while Florida Business Bank had around $169 million in deposits and $139 million in loans as of September 30, 2021. The mergers aim to enhance Seacoast's market presence in the attractive Sarasota market and Brevard County, facilitating growth through expanded customer access to financial products and services.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) will announce its fourth quarter 2021 earnings on January 27, 2022, after market close. Investors can access the results on Seacoast's website. A conference call will occur on January 28, 2022, at 10:00 a.m. ET where management will discuss the earnings and business trends. Seacoast is a significant community bank in Florida with approximately $9.9 billion in assets and $8.3 billion in deposits as of September 30, 2021, operating 52 branches from Fort Lauderdale to Central Florida.
Seacoast Banking Corporation of Florida (SBCF) has renewed its share repurchase program, allowing for the buyback of up to $100 million worth of its common stock, representing approximately 5.0% of shares outstanding as of December 16, 2021. The program will run until December 31, 2022, and shares may be repurchased through various methods including open market transactions. The actual timing and number of shares repurchased will depend on market conditions and financial performance.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) announced a net income of $22.9 million, or $0.40 per diluted share, for Q3 2021, marking a 27% decrease from Q2 2021 but a 1% increase year-over-year. The adjusted net income was $29.4 million, with tangible book value per share rising 13% to $17.52. The company completed the acquisition of Legacy Bank, adding significant loans and deposits, and announced proposed acquisitions to enhance its market presence. Loan originations surged by 50% quarter-over-quarter, reflecting strong demand for credit.
FAQ
What is the current stock price of Seacoast Banking of Florida (SBCF)?
What is the market cap of Seacoast Banking of Florida (SBCF)?
What services does Seacoast Bank offer?
Where is Seacoast Banking Corporation headquartered?
What areas does Seacoast Bank serve?
What makes Seacoast Bank unique?
How does Seacoast Bank enhance accessibility for customers?
What is the history of Seacoast Bank?
Is Seacoast Bank publicly traded?
What recent achievements has Seacoast Bank accomplished?
How does Seacoast Bank approach credit culture?
What is the core business of Seacoast Banking Corporation?
