secwatch.observer — SEC 8-K summary
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Issuer:     SEACOAST BANKING CORP OF FLORIDA (SBCF)
CIK:        0000730708
Form:       8-K
Filed at:   2023-05-23T23:59:59+00:00
Accession:  0000730708-23-000031
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 5.07, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Seacoast Q1 net interest income $131.4M, NIM 4.31%; closes Professional Bank acquisition
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- Net interest income $131.4M (+10% QoQ); NIM 4.31% (down 5bp); cost of deposits 0.77%.
- Adjusted pre-tax pre-provision income $71.1M, up 7% QoQ; adjusted efficiency ratio 53.1%.
- Wealth management AUM $1.5B, up 24% YoY; $123M added in Q1.
- Completed acquisition of Professional Holding Corp on Jan 31, 2023; conversion in June 2023.
- Tangible common equity to tangible assets 8.4% (7.8% adjusted for HTM fair value).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/730708/000073070823000031/0000730708-23-000031-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/730708/000073070823000031/sbcf-20230522.htm
  HTML page:      https://secwatch.observer/filing/0000730708-23-000031

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer