Seacoast Q4 net income $29.5M ($0.35); plans $15M annual expense cut

SEACOAST BANKING CORP OF FLORIDA

2023-FY EPS reported $1.23

Net income of $29.5M ($0.35 diluted) vs $31.4M ($0.37) in Q3; full year $104.0M ($1.23) vs $106.5M ($1.66) in 2022.
Adjusted net income $36.5M ($0.43) in Q4; full year adjusted $154.7M ($1.83) up from $136.1M ($2.12) in 2022.
Net interest margin contracted 21bp to 3.36%; noninterest expense down 8% QoQ to $86.4M.
Repurchased 546,200 shares at $19.80; tangible book value per share rose to $15.08.
Q1 2024 expense initiative with ~$5M one-time charges and ~$15M annual run-rate savings.

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 0.95

SEACOAST BANKING CORP OF FLORIDA reported the quarter and year ended December 31, 2023 results: net income net income in the fourth quarter of 2023 of $29.5 million, or $0.35 per diluted share, EPS net income in the fourth quarter of 2023 of $29.5 million, or $0.35 per diluted share.

Period: the quarter and year ended December 31, 2023
Net income: net income in the fourth quarter of 2023 of $29.5 million, or $0.35 per diluted share
EPS: net income in the fourth quarter of 2023 of $29.5 million, or $0.35 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 fourth quarter of 2023 of $29.5 million, or $0.35 per diluted share

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 0000730708-24-000023

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.