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- **Record Growth**: 8% organic loan growth and $258 million AUM added in Q3, with Villages acquisition adding $4 billion in assets.
- **Margin Expansion**: Core net interest margin target of 3.45% by year-end, driven by low-cost deposits and reduced accretion.
- **Strategic Acquisitions**: Seamless integration of Villages, expected to enhance liquidity and profitability in 2026.
- **Risk Management**: Strong asset quality with nonperforming loans at 0.55% and disciplined underwriting.

**【CEO Summary Section】**
- **Revenue Growth**: Organic loan growth of 8% annualized, driven by commercial and CRE lending, with a record pipeline of $1.2 billion.
- **Wealth Management**: Added $258 million in AUM in Q3, highest quarterly result, and $473 million year-to-date, with a 24% YoY increase in AUM.
- **Acquisition Impact**: Completed Villages acquisition in October, adding $4 billion in assets and 19 branches, with integration expected in Q3 2026.
- **Asset Quality**: Nonperforming loans declined by $3.6 million, and net charge-offs were $3.2 million, reflecting disciplined underwriting.

**【CFO Financial Commentary】**
- **Net Income**: Adjusted net income of $45.2 million, up 48% YoY, with net interest income of $133.5 million, a 5% QoQ increase.
- **Margin**: Core net interest margin of 3.32% (excluding accretion), with a 3 basis point expansion QoQ, targeting 3.45% by year-end.
- **Noninterest Income**: $24.7 million, up 5% YoY, driven by treasury management fees and wealth management growth.
- **Expenses**: Adjusted expenses of $102 million, including $10.8 million in merger costs, with an efficiency ratio of 53.8%.

**【Q&A Highlights】**
- **Growth Strategy**: High single-digit loan growth expected in 2026, with focus on organic expansion and talent acquisition.
- **Margin Expansion**: Anticipated 10 basis points improvement from Villages' low-cost deposits and reduced wholesale funding costs.
- **Competitive Environment**: Tight credit spreads in CRE and C&amp;I, but selective lending to maintain margins.
- **Regulatory Impact**: Stable insurance costs in Florida, with new entrants and reforms easing premiums for new properties.

Seacoast Banking Corporation of Florida (SBCF) Q3 2025 Earnings Call Transcript

- **Revenue Growth**: 36% YoY net income increase, driven by 10 bps NIM expansion and 6.4% loan growth.
- **Strategic Acquisitions**: $4.1B Villages Bank deal to enhance profitability, with 10 bps margin uplift.
- **Efficiency Improvement**: Efficiency ratio 55.4%, up from 59.5% Q1, reflecting cost control.
- **Credit Stability**: NPLs at 0.61%, with stable criticized loans at 2.39%.
- **Deposit Management**: Deposit costs down 13 bps to 1.8%, with core DDA growth driving margin.

**【Management Opening Remarks】**
- **Exceptional Q2 Results**: Net income increased 36% YoY, driven by a 10 basis point expansion in net interest margin (NIM) and 6.4% annualized loan growth. Non-GAAP EPS was $0.52, up 39% sequentially.
- **Strategic Acquisitions**: Completed Heartland Bancshares acquisition ($777M in assets) and on track to close Villages Bank ($4.1B in assets) by Q4. These add high-quality deposit bases and enhance profitability.
- **Credit Strength**: Nonperforming loans (NPLs) at 0.61% of total loans, with net charge-offs of $2.5M. Criticized loans stable at 2.39%.
- **Talent-Driven Growth**: 6.4% loan growth fueled by top talent recruited from larger banks, with a strong $921M pipeline.

**【CFO Financial Commentary】**
- **Profitability Metrics**: Return on assets (ROA) 1.08%, return on tangible common equity (ROTE) 12.8%, and efficiency ratio 55.4% (excluding merger costs).
- **NIM Expansion**: Core NIM of 3.35% expected for 2025, with 10 basis points from acquisitions. Deposit costs declined 13 bps to 1.8%.
- **Noninterest Income**: $24.5M (excluding securities), up 10% YoY, driven by wealth management and treasury services.
- **Capital Strength**: Tangible book value per share $17.19 (12% YoY growth), Tier 1 capital ratio 14.6%, and 9.75% tangible common equity to assets.

**【Q&A Highlights】**
- **Growth Drivers**: Mid-single-digit loan growth outlook (6.4% annualized) supported by talent recruitment and strong economic conditions. Competitive landscape intensifying, but disciplined underwriting maintains margins.
- **Deposit Cost Management**: Deposit beta expected to normalize to low 30s post-Fed cuts. Core DDA growth and reduced high-rate deposits drive margin expansion.
- **Balance Sheet Optimization**: Villages acquisition to boost loan-to-deposit ratio to 80-85%, with 130+ ROA potential. Securities portfolio repositioned for rate cuts.
- **Credit Outlook**: Stable asset quality with NPLs at 0.61%. Mid-cycle net charge-offs expected at 20-25 basis points.
- **M&A Impact**: Acquisitions to add 10 basis points to core NIM, with seamless integration plans for Heartland and Villages.

Seacoast Banking Corporation of Florida (SBCF) Q2 2025 Earnings Call Transcript

- **Revenue Growth**: 6% loan growth and 11% deposit growth driven by new talent additions.
- **Profitability**: 22% pretax pre-provision earnings growth, 10% tangible book value increase.
- **NIM Expansion**: 9bps margin improvement to 3.48%, targeting 3.35% by year-end.
- **Heartland Deal**: $412M high-yield securities purchase ahead of Q3 acquisition.
- **Credit Strength**: 0.68% NPL ratio, 1.34% allowance coverage ratio.
- **Pipeline Momentum**: 40% Q/Q pipeline expansion, mid-single-digit loan growth guidance.


**【CEO Opening Remarks】**
- Highlighted strong first-quarter performance with 6% annualized loan growth and 11% deposit growth, driven by new talent additions.
- Emphasized fortress balance sheet with industry-leading capital ratios (Tier 1 at 14.7%) and Florida's economic resilience.
- Noted 22% growth in adjusted pretax pre-provision earnings and 10% tangible book value per share increase year-over-year.
- Provided update on Heartland Bancshares acquisition, expected to close in Q3 2025.

**【CFO Financial Review】**
- Reported net income of $31.5 million ($0.37 EPS) with pretax pre-provision income up $2.7 million to $50.6 million.
- Net interest margin expanded 9bps to 3.48%, driven by 15bps deposit cost decline to 1.93%.
- Noninterest income grew 8% to $22 million, with wealth management up 20% and insurance agency revenue up 25%.
- Loan pipeline expanded 40% Q/Q, supporting mid- to high single-digit loan growth guidance.
- Credit metrics remained strong with NPL ratio at 0.68% and allowance coverage ratio held flat at 1.34%.

**【Q&A Key Highlights】**
- **NIM Outlook**: Core NIM target of 3.35% for Q4, with potential upside from deposit repricing and fixed-rate asset repricing.
- **Loan Growth**: 5.6% annualized loan growth in Q1, pipeline up 40% Q/Q, targeting mid- to high single-digit growth barring tariff impacts.
- **Heartland Deal**: Pre-acquired $412M in high-yield securities to lock in 5.51% yields, reducingHeartland's short-term bond portfolio.
- **Credit Quality**: No systemic risks in pipeline; charge-offs driven by acquired credits, allowance maintained conservative at 1.34%.
- **M&A Strategy**: Open to smaller deals post-Heartland, but prioritizing disciplined pricing and accretion.
- **Tariff Impact**: Clients largely prepared with pre-buy strategies, no material pipeline fallout yet observed.


Seacoast Banking Corporation of Florida (SBCF)-25 Apr 25-2025 Q1 Earnings call transcript

- **Record Q4 Loan Production**: $900M originations with 4% annualized growth, overcoming payoffs and sales.
- **Net Interest Margin Expansion**: 22 bps QoQ to 3.39%, deposit cost down 26 bps.
- **2025 Growth Plan**: Low-mid single-digit loan growth early, high single-digits by year-end. 20%+ AUM growth in wealth.
- **Capital Deployment**: Actively pursuing M&A in Florida, $350M+ securities cash flow available.
- **Margin Outlook**: 7-10 bps Q1 expansion, targeting 3.35%+ NIM by year-end.
- **Efficiency Ratio**: 56.1% in Q4, targeting 56-60% range.


**【CEO Opening Remarks】**
- Q4 2024 adjusted pre-tax pre-provision earnings rose 22% QoQ to $56.6 million, driven by a 22 bps net interest margin expansion to 3.39%.
- Loan production hit a record $900M, with 4% annualized growth despite elevated payoffs and strategic sales.
- Asset quality improved: criticized/classified assets declined, and NPA ratio stabilized at 0.9%.
- Capital position remains strong with 9.6% tangible common equity ratio and 14.8% CET1.

**【CFO Financial Highlights】**
- GAAP net income $34.1M ($0.40 EPS), adjusted $40.6M ($0.48 EPS). Non-GAAP EPS exceeded expectations.
- Deposit cost declined 26 bps to 2.08%, driving 9% QoQ NII growth to $115.8M.
- Efficiency ratio improved to 56.1% vs 59.8% prior quarter.
- Wealth AUM up 20% YoY to $2.1B, supported by 24% CAGR over 5 years.

**【Q&A Key Takeaways】**
- **Loan Growth Outlook**: 2025 guidance for low-mid single-digit growth early, accelerating to high single-digits by year-end. 2024 pipeline rebuilding post-hurricane recovery.
- **Deposit Strategy**: Focused on relationship-based core deposits, avoiding high-cost CDs. 2025 deposit growth expected to support loan book expansion.
- **Capital Deployment**: Active M&A pipeline, with focus on Florida opportunities. $350M+ in securities cash flows available to fund growth.
- **Margin Expectations**: Core NIM to expand 7-10 bps in Q1, targeting 3.35%+ by year-end. Deposit cost stabilization expected despite potential rate cuts.
- **Expense Management**: 56-60% efficiency ratio target. Seasonal Q1 expense pressures (FICA, 401k) offset by disciplined hiring for growth.
- **Credit Quality**: Stable asset quality with classified assets at 2.17% of loans. Conservative underwriting maintained.


Seacoast Banking Corporation of Florida (SBCF) Q4 2024 Earnings Call Transcript

Seacoast Banking Corporation of Florida (SBCF)-25 Oct 24-2024 Q3 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-26 Jul 24-2024 Q2 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-26 Apr 24-2024 Q1 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-26 Jan 24-2023 Q4 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-27 Oct 23-2023 Q3 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-28 Jul 23-2023 Q2 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-28 Apr 23-2023 Q1 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-27 Jan 23-2022 Q4 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-28 Oct 22-2022 Q3 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-30 Jul 22-2022 Q2 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-29 Apr 22-2022 Q1 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-28 Jan 22-2021 Q4 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-29 Oct 21-2021 Q3 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-23 Jul 21-2021 Q2 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-23 Apr 21-2021 Q1 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-29 Jan 21-2020 Q4 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-28 Oct 20-2020 Q3 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-24 Jul 20-2020 Q2 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-29 Apr 20-2020 Q1 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-24 Jan 20-2019 Q4 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-25 Oct 19-2019 Q3 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-26 Jul 19-2019 Q2 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-26 Apr 19-2019 Q1 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-25 Jan 19-2018 Q4 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-26 Oct 18-2018 Q3 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-12 Jun 18-2018 Q1 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-26 Jan 18-2017 Q4 Earnings call transcript

Seacoast Banking Corp. Of Florida (SBCF)-27 Oct 17-2017 Q3 Earnings call transcript

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