Seacoast Q4 net income $34.3M; completes VBI acquisition; securities repositioning loss $39.5M

SEACOAST BANKING CORP OF FLORIDA

Net income of $34.3M ($0.31 diluted); adjusted net income $47.7M ($0.44 diluted) includes $23.4M day-one credit provisions.
Net interest income $174.6M, up 31% QoQ; net interest margin excluding accretion expanded 12 bps to 3.44%.
Organic loan growth 15% annualized; VBI acquisition added $4.4B assets, $1.2B loans, $3.5B deposits, 19 branches.
Repositioned securities portfolio: sold low-yield securities (1.9% avg yield) for $39.5M pre-tax loss, reinvested at 4.8% yield.
Completed VBI acquisition Oct 1, 2025; full system conversion expected Q3 2026.

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