Seacoast Q4 2024 net income $34.1M ($0.40 EPS); adjusted EPS $0.48; NIM expands 22bp to 3.39%

SEACOAST BANKING CORP OF FLORIDA

2024-FY EPS reported $1.42

Net income $34.1M ($0.40 EPS); adjusted $40.6M ($0.48 EPS); both up QoQ.
Net interest income $115.8M (+9% QoQ); NIM expanded 22bp to 3.39%; cost of deposits down 26bp to 2.08%.
Adjusted noninterest income $25.5M (+8% QoQ); $8M pre-tax loss on securities repositioning reinvested at 5.4% yield.
Loans grew 3.7% annualized; record originations $903M; AUM $2.1B (+20% YoY).
Tangible book value $16.12 (+7% YoY); Tier 1 capital 14.8%; ROTCE 10.9% GAAP, 12.7% adjusted.

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