secwatch.observer — SEC 8-K summary
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Issuer:     SEACOAST BANKING CORP OF FLORIDA (SBCF)
CIK:        0000730708
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0000730708-23-000112
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Seacoast Q3 net interest income down 6%; NIM 3.57%; organic deposit growth 3.7%
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- Net interest income (FTE) $119.5M, down $7.6M from prior quarter; NIM fell 29 bps to 3.57%.
- Noninterest income $17.8M, down 18% due to Durbin amendment impact on interchange fees.
- Loans $10.01B, down $107M; new loan yields ~8%; loan-to-deposit ratio low at 83%.
- Tier 1 capital ratio 14.0%; tangible book value $14.26, up from prior quarter.
- Reduced workforce by 6% and consolidated a branch; adjusted efficiency ratio 60.2%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/730708/000073070823000112/0000730708-23-000112-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/730708/000073070823000112/sbcf-20231102.htm
  HTML page:      https://secwatch.observer/filing/0000730708-23-000112

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