Seacoast Banking Corporation Of Florida · NASDAQ:SBCF

Seacoast Banking Corporation Of Florida — Seacoast Banking Corp of Florida — Q1 2015 Earnings Presentation

19 slides from Seacoast Banking Corporation Of Florida's earnings presentation, May 1, 2015

  1. Slide 1: First Quarter 2015

    First Quarter 2015 April 29 th , 2015

  2. Slide 2: Cautionary Notice Regarding Forward-Looking Statements

    2 Cautionary Notice Regarding Forward - Looking Statements This press release contains “forward - looking statements” within the meaning of Section 27 A of the Securities Act of 1933 and Section 21 E of the Securities Exchange Act of 1934 , including, without limitation, statements about future fina

  3. Slide 3: Q1 2015 Financial and Growth Highlights

    First Quarter 2015 3 Financial Highlights Growth Highlights Q1 2015 Financial and Growth Highlights • Total loans increased $32.6 million or 7% (annualized) from Q4 14, and increased 41.3% from a year ago. Excluding the acquisition of BANKshares , loans increased $218.7 million or 15.9% from prior y

  4. Slide 4: Earnings Trend Improve

    First Quarter 2015 4 Earnings Trend Improve • The effective tax rate in the first quarter decreased to 37.7 % from 44.4% (higher from nondeductible merger related charges) for the 2014 calendar year. • Adjusted Pretax, pre - provision income (1) significantly improved indicative of higher quality ea

  5. Slide 5: Loan Growth Momentum Continues

    First Quarter 2015 5 Loan Growth Momentum Continues • Total loans were $ 1.854 billion at March 31, 2015, up $32.6 million from December 31, 2014, or 1.8% (7% annualized) from the fourth quarter. • The commercial pipeline (in underwriting and approval or approved and not yet closed) totaled $82.1 mi

  6. Slide 6: Deposit Balances Extend Growth Trends

    First Quarter 2015 6 Deposit Balances Extend Growth Trends • Average noninterest bearing demand deposits increased to 30.3% of total deposits compared with 26.9% for the first quarter 2014 • Average Low/No cost deposits increased to 87.2% of total deposits compared to 84.9% one year ago $481 $506 $5

  7. Slide 7: Funding Costs Remain Low

    First Quarter 2015 7 Funding Costs Remain Low 14 13 12 11 12 33 33 32 31 32 Q1-14 Q2-14 Q3-14 Q4-14 Q1-15 Funding Costs (in BPS) Deposit Costs Interest Bearing

  8. Slide 8: Net Interest Income and Margin Meaningfully Improved

    First Quarter 2015 8 • Net interest income for the quarter totaled $ 25.7 million, a $1 million or 15% annualized linked quarter . • Net interest margin for the quarter increased to 3.62% versus prior quarter of 3.56% in the fourth quarter 2014. • Improvement in net interest income and margin was th

  9. Slide 9: Non Interest Income

    First Quarter 2015 9 Non Interest Income • Non interest income (excluding security gains) increased $167,000 from December 31, 2014. • Mortgage Banking fees increased $372,000 over the prior quarter and interchange income increased $134,000 over the prior quarter offset seasonally with fewer number

  10. Slide 10: Non Interest Expense Moderates

    First Quarter 2015 10 Non Interest Expense Moderates $9,594 $9,668 $9,917 $12,459 $ 11,192 $1,695 $1,811 $1,769 $1,925 $2,184 $2,702 $2,798 $2,820 $ 3,427 $ 3,251 $813 $675 $717 $1,072 $975 $935 $924 $884 $1,741 $1,388 $386 $411 $387 $476 $589 $2,259 $2,513 $2,350 $ 3,309 $ 3,096 $18,384 $18,800 $18

  11. Slide 11: Florida's Economic Improvement

    SBCF Florida’s Economic Improvement • Employment increased 3.7% in 2014 with 285,00 net new jobs • Construction employment accounts for just 5.2% of jobs, down from 8.7% at the peak and 6.5% on average • Unemployment as of March is down to 5.7% from 6.5% a year ago. First Quarter 2015 11

  12. Slide 12: Florida Economic Outlook

    12 Source: Wells Fargo Securities Florida Economic Outlook March 2015 . First Quarter 2015

  13. Slide 13: Florida Economic Outlook

    13 Source: Wells Fargo Securities Florida Economic Outlook March 2015 . First Quarter 2015

  14. Slide 14: Florida Economic Outlook

    14 Source: Wells Fargo Securities Florida Economic Outlook March 2015 . First Quarter 2015

  15. Slide 15: Florida Economic Outlook

    15 Source: Wells Fargo Securities Florida Economic Outlook March 2015 . First Quarter 2015

  16. Slide 16: Appendix

    First Quarter 2015 16 Appendix

  17. Slide 17: Explanation of Certain Unaudited Non-GAAP Financial Measures

    First Quarter 2015 17 Explanation of Certain Unaudited Non - GAAP Financial M easures • This press release contains financial information determined by methods other than Generally Accepted Accounting Principles (“GAAP”). The financial highlights provide reconciliations between GAAP net income and a

  18. Slide 18: Net Income - GAAP to Non-GAAP Reconciliation

    First Quarter 2015 18 Net Income - GAAP to Non - GAAP Reconciliation: Presented below is net income excluding adjustments for merger related charges, branch closure charges, and other non core expenses. The Company believes that these results of operations are a more meaningful depiction of the unde

  19. Slide 19: Non-Interest Expense - GAAP to Non-GAAP Reconciliation

    First Quarter 2015 19 Non - Interest Expense - GAAP to Non - GAAP Reconciliation: Presented below is core operating expenses and other non core expenses. The Company believes that these results of operations are a more meaningful depiction of the underlying fundamentals of its business and overall p

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