Seacoast Q2 adjusted EPS $0.58, net income $49.2M; Professional conversion complete

SEACOAST BANKING CORP OF FLORIDA

2023-Q2 EPS reported $0.52

GAAP net income $31.2M ($0.37 diluted); adjusted net income $49.2M ($0.58 diluted).
Adjusted return on tangible common equity 16.08%, up from 10.34% in Q1 2023.
Completed Professional Bank conversion; merger costs expected to be insignificant in Q3 2023.
Reduced workforce by ~5% in late July to streamline operations and improve efficiency.
Tangible common equity to tangible assets ratio improved to 8.53%.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SEACOAST BANKING CORP OF FLORIDA reported the quarter ended June 30, 2023 results: net income $31.2 million, EPS $0.37 per diluted share.

Period: the quarter ended June 30, 2023
Net income: $31.2 million
EPS: $0.37 per diluted share
Result: reported results

Exact text from the filing

Seacoast Banking Corporation of Florida ("Seacoast" or the "Company") (NASDAQ: SBCF) today reported net income in the second quarter of 2023 of $31.2 million, or $0.37 per diluted share, compared to $11.8 million, or $0.15 per diluted share in the first quarter of 2023 and $32.8 million, or $0.53 per diluted share in the second quarter of 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SEACOAST BANKING CORP OF FLORIDA reported the six months ended June 30, 2023 results: net income $43.1 million, EPS $0.52 per diluted share.

Period: the six months ended June 30, 2023
Net income: $43.1 million
EPS: $0.52 per diluted share
Result: reported results

Exact text from the filing

For the six months ended June 30, 2023, net income was $43.1 million, or $0.52 per diluted share, a decrease of 19% compared to the six months ended June 30, 2022.

View on SEC.gov

13 earnings releases filed in the last 30 days. Browse all earnings releases →

SEACOAST BANKING CORP OF FLORIDA filing history →

Source: SEC EDGAR

accession 0000730708-23-000058

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