Seacoast Q1 2024 adjusted EPS $0.37 flat QoQ; deposits grow 8% annualized, AUM record $1.9B

SEACOAST BANKING CORP OF FLORIDA

2024-Q1 EPS reported $0.31

GAAP net income $26.0M ($0.31 EPS) vs $29.5M ($0.35) Q4 2023; adjusted net income $31.1M ($0.37 EPS) flat QoQ.
Total deposits grew 8% annualized, with noninterest-bearing demand deposits increasing.
Wealth management AUM hit record $1.9B, up $160M during the quarter.
Expense initiative completed; adjusted noninterest expense down $7.3M from Q3 2023 to $83.3M.
Tier 1 capital ratio 14.6%, tangible book value $15.26 per share; sold $86.8M securities reinvested at 5.53% yield.

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 ended March 31, 2024 results: revenue $125.6 million, net income $26.0 million, EPS $0.31 per diluted share.

Period: the quarter ended March 31, 2024
Revenue: $125.6 million
Net income: $26.0 million
EPS: $0.31 per diluted share
Result: reported results

Exact text from the filing

compared to $31.4 million, or $0.37 per diluted share, for the prior quarter, and $23.7 million, or $0.29 per diluted share, for the prior year quarter. • Net revenues were $125.6 million in the first quarter of 2024, a decrease of $2.6 million, or 2%, compared to the prior quarter, and a decrease of $28.0 million, or 18%, compared to the prior year quarter.

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Source: SEC EDGAR

accession 0000730708-24-000132

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