Business
Seacoast Reports Third Quarter 2025 Results
Strong Organic Growth in Both Deposit and Loan Outstandings Completed Acquisition of Heartland Bancshares, Inc. Continued Robust Capital and Liquidity
About this update from Seacoast Banking Corporation Of Florida
[{"type":"text","content":"\nStrong Organic Growth in Both Deposit and Loan Outstandings\n\n\nCompleted Acquisition of Heartland Bancshares, Inc.\n\n\nContinued Robust Capital and Liquidity Position\n\n\n STUART, Fla.--(BUSINESS WIRE)--\nSeacoast Banking Corporation of Florida (\"Seacoast\" or the \"Company\") (NASDAQ: SBCF) today reported net income in the third quarter of 2025 of $36.5 million, or $0.42 per diluted share, compared to $42.7 million, or $0.50 per diluted share, in the second quarter of 2025 and $30.7 million, or $0.36 per diluted share, in the third quarter of 2024. For the nine months ended September 30, 2025 and 2024, net income was $110.6 million, or $1.28 per diluted share, and $86.9 million, or $1.02 per diluted share, respectively.\n\n\nAdjusted net income1 for the third quarter of 2025 was $45.2 million, or $0.52 per diluted share, compared to $44.5 million, or $0.52 per diluted share, in the second quarter of 2025 and $30.5 million, or $0.36 per diluted share, in the third quarter of 2024. For the nine months ended September 30, 2025 and 2024, adjusted net income1 was $121.7 million, or $1.41 per diluted share, and $91.9 million, or $1.08 per diluted share, respectively.\n\n\nThird Quarter 2025 Highlights\n\n\n\nNet income, which included $10.8 million in merger-related charges, increased 19% from the prior year quarter to $36.5 million, or $0.42 per share.\n\n\n\n\nAdjusted net income1 increased 48% from the prior year quarter to $45.2 million, or $0.52 per share.\n\n\n\n\n7% annualized organic deposit growth.\n\n\n\n\n8% annualized organic loan growth.\n\n\n\n\nTangible book value per share of $17.61, representing a 9% increase year over year, well overcoming the dilutive effect of the Heartland acquisition.\n\n\n\n\nContinued industry-leading strength in capital and liquidity.\n\n\n\nCharles M. Shaffer, Seacoast's Chairman and CEO, stated, “Our competitive transformation is being realized and is delivering exceptional results. In the third quarter, we sustained strong momentum in growing net interest income, driven by very strong performance in both loan and deposit growth.”\n\n\nShaffer added, “Strategic investments in high quality bankers have fueled robust loan production and pipeline expansion, contributing to consistent gains across our diversified revenue streams—including treasury management, wealth management, and insur...