secwatch.observer — SEC 8-K summary
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Issuer:     SEACOAST BANKING CORP OF FLORIDA (SBCF)
CIK:        0000730708
Form:       8-K
Filed at:   2023-10-26T23:59:59+00:00
Accession:  0000730708-23-000108
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/730708/000073070823000108/0000730708-23-000108-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/730708/000073070823000108/sbcf-20231026.htm
  HTML page:      https://secwatch.observer/filing/0000730708-23-000108

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