Seacoast Banking Corp of Florida Posts Strong Q4 Earnings with 15% Loan Growth and 18% Increase in Adjusted Net Income.

Seacoast Banking Corp of Florida reported a 15% annualized loan growth rate, driven by commercial banking and the Villages acquisition. Noninterest income increased, with wealth management adding $550 million in new assets under management. The expense ratio improved to near 2% of tangible assets. Adjusted net income rose 18% YoY to $47.7 million. Net interest income increased 31% to $174.6 million. Net interest margin expanded 12 basis points to 3.44%.