Seacoast Q3 net income $30.7M ($0.36 EPS); plans $5-10M hurricane provision

SEACOAST BANKING CORP OF FLORIDA

2024-Q3 EPS reported $1.02

Net income $30.7M ($0.36 diluted EPS) vs $30.2M in Q2; loans grew 6.6% annualized to $10.2B.
Tangible book value per share rose 20% annualized to $16.20; Tier 1 capital ratio 14.8%.
Sold low-yield AFS securities (2.8%) for ~$8M pre-tax loss; reinvested $113M in agency MBS at 5.4%.
Expects additional provision of $5-10M in Q4 2024 related to Hurricane Milton.

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