Business
Seacoast Reports Second Quarter 2025 Results
Net Interest Margin Expands 10 Basis Points to 3.58% and Net Interest Income Grows 7% Annualized Loan Growth of 6% with Continuing Strong Pipeline Gains in
About this update from Seacoast Banking Corporation Of Florida
[{"type":"text","content":"\nNet Interest Margin Expands 10 Basis Points to 3.58% and Net Interest Income Grows 7%\n\n\nAnnualized Loan Growth of 6% with Continuing Strong Pipeline\n\n\nGains in Return on Average Assets, Return on Tangible Common Equity and Efficiency Ratio\n\n\n STUART, Fla.--(BUSINESS WIRE)--\nSeacoast Banking Corporation of Florida (\"Seacoast\" or the \"Company\") (NASDAQ: SBCF) today reported net income in the second quarter of 2025 of $42.7 million, or $0.50 per diluted share, compared to $31.5 million, or $0.37 per diluted share, in the first quarter of 2025 and $30.2 million, or $0.36 per diluted share, in the second quarter of 2024. For the six months ended June 30, 2025 and 2024, net income was $74.2 million, or $0.87 per diluted share, and $56.3 million, or $0.66 per diluted share, respectively.\n\n\nAdjusted net income1 for the second quarter of 2025 was $44.5 million, or $0.52 per diluted share, compared to $32.1 million, or $0.38 per diluted share, in the first quarter of 2025 and $30.3 million, or $0.36 per diluted share, in the second quarter of 2024. For the six months ended June 30, 2025 and 2024, adjusted net income1 was $76.6 million, or $0.90 per diluted share, and $61.4 million, or $0.72 per diluted share, respectively.\n\n\nPre-tax pre-provision earnings1 were $60.2 million in the second quarter of 2025, an increase of $9.6 million, or 19%, compared to the first quarter of 2025 and an increase of $15.7 million, or 35%, compared to the second quarter of 2024. For the six months ended June 30, 2025 and 2024, pre-tax pre-provision earnings1 were $110.8 million and $80.2 million, respectively. Adjusted pre-tax pre-provision earnings1 were $62.6 million in the second quarter of 2025, an increase of $10.9 million, or 21%, compared to the first quarter of 2025 and an increase of $18.1 million, or 41%, compared to the second quarter of 2024. For the six months ended June 30, 2025 and 2024, adjusted pre-tax pre-provision earnings1 were $114.3 million and $87.0 million, respectively.\n\n\nFor the second quarter of 2025, return on average tangible assets was 1.24% and return on average tangible shareholders' equity was 12.82%, compared to 0.98% and 10.17%, respectively, in the prior quarter, and 1.00% and 10.75%, respectively, in the prior year quarter. For the six months ended June 30, 2025, return on average tangible assets ...