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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

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

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Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

SBCF

SBCF fundamentals

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