secwatch.observer — SEC 8-K summary
======================================

Issuer:     SEACOAST BANKING CORP OF FLORIDA (SBCF)
CIK:        0000730708
Form:       8-K
Filed at:   2024-04-25T23:59:59+00:00
Accession:  0000730708-24-000132
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/730708/000073070824000132/0000730708-24-000132-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/730708/000073070824000132/sbcf-20240425.htm
  HTML page:      https://secwatch.observer/filing/0000730708-24-000132

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