secwatch.observer — SEC 8-K summary
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Issuer:     SEACOAST BANKING CORP OF FLORIDA (SBCF)
CIK:        0000730708
Form:       8-K
Filed at:   2024-01-25T23:59:59+00:00
Accession:  0000730708-24-000023
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/730708/000073070824000023/0000730708-24-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/730708/000073070824000023/sbcf-20240125.htm
  HTML page:      https://secwatch.observer/filing/0000730708-24-000023

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