Seacoast Banking Corporation Of Florida · NASDAQ:SBCF
Seacoast Banking Corporation Of Florida — Q1 2026 Earnings Presentation
26 slides from Seacoast Banking Corporation Of Florida's earnings presentation, Apr 29, 2026
Slide 1: Earnings Presentation First Quarter 2026
EARNINGS PRESENTATION FIRST QUARTER 2026 2026
Slide 2: Cautionary Notice Regarding Forward-Looking Statements
Cautionary Notice Regarding Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning, and protections, of Section 27A of the Securities Act estimates (including with respect to our financial statements), as well as differences in, and changes to, economic
Slide 3: Valuable Footprint with Strong Capital and Liquidity
Valuable Footprint with Strong Capital and Liquidity • Sustained, strong presence in Florida’s most attractive markets and recent expansion into the greater Atlanta market • #15 Florida market share ▪ #1 Florida-based bank in Orlando MSA ▪ #1 Florida-based bank in Palm Beach, Highlands, and 10 other
Slide 4: First Quarter 2026 Highlights
First Quarter 2026 Highlights • Net income of $31.9 million, or $0.29 per diluted • Continued improvement in profitability metrics. share, included a $39.5 million loss from a strategic Return on average assets and return on average repositioning of AFS securities, which contributed to tangible shar
Slide 5: Net Interest Income and Net Interest Margin
Net Interest Income and Net Interest Margin 1 Net Interest Income Net Interest Margin NIM, excluding accretion on acquired loans $176.2 $178.2 $127.3 $133.9 3.83% $118.9 ($ in millions) 3.66% 3.58% 3.57% 3.57% 3.48% 3.44% 3.32% 3.29% 3.24% 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 • Net interest income1 totaled
Slide 6: Noninterest Income
Noninterest Income ($ in millions) Adjusted noninterest income1, which excludes securities activity, increased 22% year over year. Noninterest loss of $12.6 million included $39.5 million of securities losses. Adjusted noninterest income decreased $1.6 million, or 6%, from the prior quarter to $26.9
Slide 7: Growth in Wealth Management
Growth in Wealth Management Assets Under Management End-of-Period ($ in millions) $2,808 $2,823 Assets under management totaled $2.8 billion at March 31, 2026, increasing 33% year-over-year. The wealth management division has continued its $2,053 growth trajectory, adding $125 million in new assets
Slide 8: Noninterest Expense
Noninterest Expense ($ in millions) Includes merger and Noninterest Expense integration costs of $8.5 million in 1Q'26 Adjusted Noninterest Expense and $18.1 million in $130.5 4Q'25 $112.4 $113.6 $122.2 $102.0 $89.5 $89.3 $91.2 $90.6 $91.7 64.0% 64.4% 63.4% 63.3% 60.3% 59.5% 58.7% 57.6% 54.5% 55.3%
Slide 9: Disciplined Loan Growth Supported by a Strong Pipeline
Disciplined Loan Growth Supported by a Strong Pipeline Loans outstanding modestly increased from the prior quarter, reflecting strong production largely offset by higher payoffs. Total Loans End-of-Period ($ in millions) Loan payoffs totaled $530.5 million during the first quarter of $12,628 $12,641
Slide 10: Loan Portfolio Mix
Loan Portfolio Mix At March 31, 2026 C ons umer, 2% C R E -R etail, 11% Seacoast's lending strategy results in a diverse and granular loan portfolio. Seacoast’s average loan size is $439 thousand and the C R E -O ffice, 4% R es idential, average commercial loan size is $1.0 million. 25% C R E -Multi
Slide 11: Allowance for Credit Losses and Purchase Discount
Allowance for Credit Losses and Purchase Discount Loans Allowance for Credit % of Loans % of Loans ($ in millions) Outstanding Losses Outstanding Purchase Discount Outstanding Construction and Land Development $ 745 $ 9 1.21 % $ 3 0.40 % Owner Occupied Commercial Real Estate 2,022 19 0.94 15 0.74 Co
Slide 12: Continued Strong Asset Quality Trends
Continued Strong Asset Quality Trends Net Charge-Offs Nonperforming L oans NCO/Average Loans NPL/Total Loans Accruing Past Due / Total Loans 0.27% 0.75% 0.68% 0.61% 0.57% 0.55% 0.12% 0.11% 0.09% 0.26% 0.19% 0.22% 0.16% 0.13% 0.03% 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 Allowance
Slide 13: Well-Managed Deposit Costs
Well-Managed Deposit Costs Deposits End-of-Period ($ in millions) Deposits increased $381.6 million, or 9.5% annualized, during the first quarter of 2026. Excluding brokered deposits, organic deposit growth was $16,256 $16,638 7% annualized. Growth in noninterest-bearing deposits was 29% annualized.
Slide 14: Granular, Diverse and Relationship-Focused Customer Funding Base
Granular, Diverse and Relationship-Focused Customer Funding Base Deposits End-of-Period ($ in millions) $16,256 $16,638 13% 12% The Company benefits from a granular deposit 1% franchise, with the top ten depositors representing $13,090 1% approximately 3% of total deposits. $12,575 $12,498 12% 11% 1
Slide 15: Investment Securities Performance and Composition
Investment Securities Performance and Composition $5,751 $5,645 $5,165 $5,069 Net unrealized losses in the AFS portfolio increased during the first quarter of 2026 by $2.5 million, driven by rate volatility during the period. $3,811 ($ in millions) $3,479 $3,253 $3,212 $2,628 $2,866 During the first
Slide 16: Robust Capital Position Supporting a Fortress Balance Sheet
Robust Capital Position Supporting a Fortress Balance Sheet Tangible Book Value Per Share Tangible Equity / Tangible Assets $16.721 $16.901 $17.61 9.8% 9.8% $17.19 9.6% $16.71 9.3% 9.2% $15.14 $15.33 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 Return on Tangible Equity Total Risk-Bas
Slide 17: 2026 Outlook
2026 Outlook Previous 2026 Current 2026 2025 Actual ($ in millions except per share data) Outlook Outlook Adjusted Revenue (fully taxable equivalent basis) $ 656 29% - 31% Growth 28% - 31% Growth Adjusted Efficiency Ratio 58% 53% - 55% 53% - 55% Adjusted Earnings Per Share-Diluted $ 1.84 $2.48 - $2.
Slide 18: Appendix
Appendix FIRST QUARTER 2026 EARNINGS PRESENTATION 18
Slide 19: Selected Acquisition-Related Impacts to Earnings
Selected Acquisition-Related Impacts to Earnings Quarterly Trend ($ in millions, except per share amounts) 1Q'26 4Q'25 3Q'25 2Q'25 1Q'25 Accretion on acquired loans $ 12.1 $ 10.6 $ 9.5 $ 10.6 $ 8.2 Amortization of intangibles 10.1 10.4 6.0 5.1 5.3 Accretion on acquired loans, net of amortization of
Slide 20: Recognition
Recognition 5th consecutive year 3rd consecutive year 4th consecutive year 1st time winner 2nd consecutive year 6th consecutive year 1st time winner FIRST QUARTER 2026 EARNINGS PRESENTATION 20
Slide 21: Explanation of Certain Unaudited Non-GAAP Financial Measures
Explanation of Certain Unaudited Non-GAAP Financial Measures About Non-GAAP Financial Measures: This presentation contains financial information determined by methods other than Generally Accepted Accounting Principles (“GAAP”). The financial highlights provide reconciliations between GAAP and adjus
Slide 22: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Quarterly Trend (Amounts in millions except per share data) 1Q'26 4Q'25 3Q'25 2Q'25 1Q'25 Net Income $ 31.9 $ 34.3 $ 36.5 $ 42.7 $ 31.5 Total noninterest (loss) income (12.6) 28.6 23.8 24.5 22.2 Securities losses (gains), net 39.5 (0.1) 0.8 — (0.2) Total Adjusted Noni
Slide 23: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Quarterly Trend (Amounts in millions except per share data) 1Q'26 4Q'25 3Q'25 2Q'25 1Q'25 Adjusted Noninterest Expense $ 113.6 $ 112.4 $ 91.2 $ 89.3 $ 89.5 Provision for credit losses on unfunded commitments (0.2) (0.8) (0.2) (0.2) (0.2) Other real estate owned expens
Slide 24: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Quarterly Trend (Amounts in millions except per share data) 1Q'26 4Q'25 3Q'25 2Q'25 1Q'25 Average Assets $ 20,924.9 $ 21,203.4 $ 16,486.0 $ 15,801.2 $ 15,395.6 Less average goodwill and intangible assets (1,225.6) (1,226.5) (827.3) (796.4) (801.7) Average Tangible Ass
Slide 25: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Quarterly Trend (Amounts in millions except per share data) 1Q'26 4Q'25 3Q'25 2Q'25 1Q'25 Loan Interest Income1 $ 186.2 $ 187.9 $ 162.3 $ 157.5 $ 151.0 Accretion on acquired loans (12.1) (10.6) (9.5) (10.6) (8.2) Loan interest income excluding accretion on acquired lo
Slide 26: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Quarterly Trend (Amounts in millions except per share data) 1Q'26 4Q'25 3Q'25 2Q'25 1Q'25 Total Shareholders’ Equity $ 2,717.7 $ 2,712.7 $ 2,378.1 $ 2,271.6 $ 2,229.7 Goodwill (1,035.0) (1,034.7) (754.6) (732.4) (732.4) Other intangible assets, net (185.0) (195.7) (76
Seacoast Banking Corporation of Florida — Q1 2026 Earnings Presentation on 6ix