Seacoast Banking reports Q3 net income of $31.4M, EPS $0.37; organic deposit growth 3.7% annualized

SEACOAST BANKING CORP OF FLORIDA

2023-Q3 EPS reported $0.89

Net income $31.4M ($0.37 diluted EPS); adjusted net income $39.7M ($0.46 adjusted EPS).
Net interest margin contracted 29 bps to 3.57%; cost of deposits increased 41 bps to 1.79%.
Organic deposit growth of 3.7% annualized; loan-to-deposit ratio 83%; Tier 1 capital ratio 13.9%.
Completed RIF reducing headcount 6%; efficiency ratio GAAP 62.6% (adj. 60.2%).
Nonperforming loans declined from prior quarter; credit quality remains strong.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SEACOAST BANKING CORP OF FLORIDA reported third quarter of 2023 results: net income 31.4 million, EPS 0.37 per diluted share.

Period: third quarter of 2023
Net income: 31.4 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 third quarter of 2023 of $31.4 million, or $0.37 per diluted share

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SEACOAST BANKING CORP OF FLORIDA filing history →

Source: SEC EDGAR

accession 0000730708-23-000108

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