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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) reported a net income of $31.4 million for Q2 2021, a 7% decline from Q1, but a 25% increase compared to Q2 2020. Adjusted net income was $33.3 million with tangible common equity at 10.43%. Total deposits rose by $450.7 million to $7.8 billion, with transaction accounts increasing by 9%. However, net interest income decreased by 1%, influenced by reduced Paycheck Protection Program (PPP) loan income. A key acquisition of Legacy Bank of Florida is anticipated to strengthen growth in the South Florida market.
Seacoast Banking Corporation of Florida (SBCF) declared a quarterly cash dividend of $0.13 per share on July 20, 2021. This dividend is set to be paid on September 30, 2021, to shareholders recorded by the close of business on September 15, 2021. As of March 31, 2021, the company reported approximately $8.8 billion in assets and $7.4 billion in deposits. Seacoast provides diversified financial services through 48 branches across Florida, enhancing its community banking presence.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) has expanded its commercial banking leadership in the Tampa-St. Petersburg area. The bank announced the hiring of James Norton as executive vice president and commercial real estate executive, along with Chris Rolle as president of the West Florida region, and Robert Hursh as market president for Pinellas County. These leaders bring extensive experience from previous roles in major banks, enhancing Seacoast's growth strategy and community presence.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) will release its second quarter 2021 earnings on July 22 after market close. Investors can access the results on the company’s website. A conference call is scheduled for July 23 at 10:00 AM ET to discuss the earnings and business trends, accessible via toll-free call. Seacoast, with approximately $8.8 billion in assets and $7.4 billion in deposits as of March 31, 2021, operates 48 branches across Florida, providing a range of integrated financial services.
Seacoast Banking Corporation of Florida (SBCF) reported a net income of $33.7 million ($0.60/share) for Q1 2021, marking a 15% increase from Q4 2020. Adjusted net income rose 16% to $35.5 million ($0.63/share). Total assets reached $8.8 billion, while total deposits climbed 7% to $7.4 billion. The company announced a quarterly cash dividend of $0.13 per share and noted a 44% increase in loan pipelines. The acquisition of Legacy Bank of Florida is expected to enhance presence and provide 6% EPS accretion in 2022.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) will release its first quarter 2021 financial results on April 22, 2021, after market close. A conference call to discuss these results is scheduled for April 23, 2021, at 10:00 a.m. ET, where interested investors can participate by calling a toll-free number. The bank, which has approximately $8.3 billion in assets and $6.9 billion in deposits as of December 31, 2020, offers various financial services through its 48 branches across Florida. More information can be accessed through their website.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) announced its acquisition of Legacy Bank of Florida, expanding its footprint in the Broward and Palm Beach counties. The merger will combine Legacy's approximately $432 million in deposits and $482 million in loans with Seacoast's existing assets, increasing deposits in the Miami-Fort Lauderdale area by 41% to $1.4 billion. The transaction is expected to be 2% accretive to earnings in 2021 and 6% in 2022, with a value of approximately $102.2 million.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) reported a record net income of $29.3 million for Q4 2020, a 30% increase from Q3 2020. Adjusted net income reached $30.7 million, marking a 12% growth. For the entire year, net income totaled $77.8 million, down from $98.7 million in 2019. Key metrics include a return on tangible assets of 1.49% and a tangible common equity ratio of 11.01%. The company continues to maintain a strong capital position, with a Tier 1 capital ratio of 17.4%.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) announced the release of its fourth quarter 2020 results on January 28, 2021, after market close. Investors can access the earnings results on the company's website. A conference call is scheduled for January 29, 2021, at 10:00 a.m. ET to discuss these results and business trends. Seacoast Banking is among Florida's largest community banks with $8.3 billion in assets and $6.9 billion in deposits as of September 30, 2020.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) has announced the promotion of Charles "Chuck" Shaffer to chief executive officer (CEO), completing a previously disclosed succession plan. Shaffer, who has served as president and COO since June 2020, is recognized for his significant contributions to the company's growth strategy. Former CEO Dennis Hudson III takes on the role of executive chairman. With approximately $8.3 billion in assets and a strong community banking presence, Seacoast aims for continued success under Shaffer's leadership.
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