secwatch.observer — SEC 8-K summary
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Issuer:     SEACOAST BANKING CORP OF FLORIDA (SBCF)
CIK:        0000730708
Form:       8-K
Filed at:   2023-07-27T23:59:59+00:00
Accession:  0000730708-23-000058
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/730708/000073070823000058/0000730708-23-000058-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/730708/000073070823000058/sbcf-20230727.htm
  HTML page:      https://secwatch.observer/filing/0000730708-23-000058

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