Seacoast Banking Corporation Of Florida · NASDAQ:SBCF
Seacoast Banking Corporation Of Florida — Seacoast Banking Corp of Florida — Q3 2017 Earnings Presentation
19 slides from Seacoast Banking Corporation Of Florida's earnings presentation, Oct 31, 2017
Slide 1: Q3 2017 Earnings Presentation
Q3 - 2017 Earnings Presentation Contact: (email) Chuck.Shaffer@SeacoastBank.com (phone) 772.221.7003 (web) www.SeacoastBanking.com
Slide 2: Forward-looking statements
This presentation 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 financial and operating results, ability to realized deferred ta
Slide 3: Transformed Florida Bank, Benefitting from Attractive Geography
• $5.3 billion in assets operating in the nation’s third most - populous state • Strong and growing presence in four of Florida’s most attractive MSAs ‒ Market leading presence in Orlando, Florida ‒ Growing share in West Palm Beach ‒ #1 share in Port St Lucie MSA ‒ Growing presence in Tampa MSA • In
Slide 4: Seacoast's Differentiated Strategy
Experienced Board & Management Team Comprehensive Customer Servicing Model Track Record of Value - Creating Acquisitions Expanding Analytical & Digital Capabilities Well - Positioned to Benefit From Florida Market Focused on Controls Experienced Board & Management Team Comprehensive Customer Servici
Slide 5: 3Q'17 Highlights
5 3Q’17 Highlights With over 100,000 households and a growing presence in Florida’s most attractive markets, we have one of Florida’s top - performing banking franchises. • The third quarter earnings per share totaled $0.32 on a GAAP basis, and $0.35 per share on an adjusted basis 1 . • Unlike prior
Slide 6: Hurricane Irma Impact
Hurricane Irma Impact 6 • Late in the third quarter, the entire state of Florida was preparing for the potential impact of dangerous category 5 Hurricane Irma. This caused a full two weeks of business interruption as one week was spent on preparation and a second week on recovery. Ultimately the sto
Slide 7: Net Interest Income and Margin
7 $37,735 $37,628 $38,377 $44,320 $45,903 3.69% 3.56% 3.63% 3.84% 3.74% $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Net Interest Income and Net Interest Margin* ($ in thousands) • Net interest income* totaled $45.9 million, up $1.6 million or 4% from
Slide 8: Adjusted Noninterest Income
8 $2,698 $2,612 $2,422 $2,435 $2,626 $2,306 $2,334 $2,494 $2,671 $2,582 $1,283 $1,449 $1,257 $1,268 $1,318 $1,885 $1,616 $1,552 $1,272 $2,138 $1,210 $1,300 $1,447 $2,064 $1,981 $611 $733 $757 $836 $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 $9,000 $10,000 $11,000 $12,000 Q3-16 Q4-16 Q
Slide 9: Adjusted Noninterest Expense
9 $15,828 $14,799 $16,389 $18,225 $18,097 $3,223 $3,030 $3,267 $3,108 $3,211 $4,418 $4,463 $4,625 $4,750 $4,500 $6,645 $6,562 $6,641 $7,746 $6,998 $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Other Occupancy / Telephone Data Processing Cost Salaries
Slide 10: Efficiency Ratio
10 82.80% 104.50% 68.30% 68.60% 76.30% 72.6% 81.7% 78.0% 68.6% 62.4% 71.1% 73.9% 58.9% 40% 50% 60% 70% 80% 90% 100% 110% GAAP - Efficiency 79.6% 74.8% 67.5% 67.5% 68.2% 69.1% 69.6% 64.8% 63.1% 60.8% 64.7% 61.2% 57.7% 40% 50% 60% 70% 80% 90% 100% 110% Adjusted - Efficiency 1 1 Non - GAAP measure, see
Slide 11: Total Loans Outstanding
11 Total Loans Outstanding (in millions) • Loans grew $612 million or 22% from year - ago levels. Adjusting for acquisitions, loans grew $365 million or 13%. • Strong commercial production was partially offset in the quarter by the $ 57.7 million sale of residential mortgages. • Pipelines remain str
Slide 12: Deposit Balances
12 • Total deposits increased 17% from the third quarter of 2016. Organic deposits grew 1% compared to one year prior. Growth across all markets was partially offset by outflow associated with public fund money market accounts. Without this outflow, organic deposit growth was 3% year over year. • Tr
Slide 13: Credit Quality
13 Net Charge - offs Nonperforming Loans ALLL $22,684 $23,400 $24,562 $26,000 $26,232 0.98% 0.96% 0.95% 0.95% 0.91% 0.82% 0.81% 0.83% 0.78% 0.77% 1 2 3 4 5 ALLL ALLL Ratio - Non-Acquired ALLL Ratio - Total Non - Acquired ALLL to Nonperforming $(1,492) $228 $93 $(101) $279 - 0.22% 0.03% 0.01% - 0.01%
Slide 14: Capital Position
Capital Position 14 Tangible Book Value / Book Value Per Share $9.35 $9.37 $10.41 $10.55 $10.95 $11.45 $11.45 $12.34 $13.29 $13.66 3Q 16 4Q 16 1Q 17 2Q 17 3Q 17 Tangible Book Value Per Share Book Value Per Share 12.6% 13.1% 10.7% 11.2% 12.8% 3Q 16 4Q 16 1Q 17 2Q 17 3Q 17 Adjusted Return on Tangible
Slide 15: Contact Details: Seacoast Banking Corporation of Florida
Investor Presentation Charles M. Shaffer Executive Vice President Chief Financial Officer (772) 221 - 7003 Chuck.Shaffer@seacoastbank.com INVESTOR RELATIONS www.SeacoastBanking.com NASDAQ: SBCF 15 15 Contact Details: Seacoast Banking Corporation of Florida
Slide 16: YEARS
YEARS
Slide 17: Explanation of Certain Unaudited 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 net income and adjusted net income, GAAP income and adjusted pretax, preprovision income . Management us
Slide 18: GAAP to Non-GAAP Reconciliation
(Q3 16 – Q3 17) GAAP to Non - GAAP Reconciliation 18 (Dollars in thousands except per share data) Third Quarter: 2017Second Quarter: 2017 First Quarter: 2017 Fourth Quarter: 2016 Third Quarter: 2016 Net income (loss) 14,216 7,676 7,926 10,771 9,133 Security Gains 47 (21) 0 (7) (225) Total Adjustment
Slide 19: GAAP to Non-GAAP Reconciliation
GAAP to Non - GAAP Reconciliation (Q3 16 – Q3 17) 19 (Dollars in thousands) Third Quarter: 2017Second Quarter: 2017 First Quarter: 2017 Fourth Quarter: 2016 Third Quarter: 2016 Adjusted Revenue 57,230 54,623 48,070 47,347 47,212 Impact of FTE adjustment 154 164 211 204 287 Adjusted Revenue on a full
Seacoast Banking Corp of Florida — Q3 2017 Earnings Presentation on 6ix