Seacoast Banking Corporation Of Florida · NASDAQ:SBCF
Seacoast Banking Corporation Of Florida — Seacoast Banking Corp of Florida — Q2 2013 Earnings Presentation
12 slides from Seacoast Banking Corporation Of Florida's earnings presentation, Jul 31, 2013
Slide 1: Second Quarter 2013
Second Quarter 2013 July 29, 2013
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
Slide 3: Generating Momentum – Highlights, YTD 2013
3 Generating Momentum – Highlights, YTD 2013 Building Shareholder Value • Net income for the first six months of 2013 totaled $5.0 million, $6.4 million higher than the prior year’s result. • Net loan outstandings increased $39.8 million from December 2012 (6.5% on an annualized basis) • Noninterest
Slide 4: Cost Reductions Powering Opportunities to Invest in Revenue Producing Strategies
4 Cost Reductions Powering Opportunities to Invest in Revenue Producing Strategies • Invested in commercial customer acquisition capacity while simultaneously reducing overheard in multiple areas. • Approximately $1.1 million in overheard in the first six months was attributable to commercial custom
Slide 5: Commercial Loan Production Remains Strong, Despite Challenging Competitive Environment
5 Commercial Loan Production Remains Strong, Despite Challenging Competitive Environment • Investment in commercial acquisition teams resulted in $105 million in loan production in the first two quarters of 2013, an increase of 283% over 2012. • Seasoned commercial bankers hired have placed us in a
Slide 6: Deposit Fee Increases, Increased Wealth Production and Stronger Mortgage Banking Fees Result in 21% Growth in Fee Revenue
6 Deposit Fee Increases, Increased Wealth Production and Stronger Mortgage Banking Fees Result in 21% Growth in Fee Revenue $5,219 $6,336 $4,000 $4,500 $5,000 $5,500 $6,000 $6,500 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Noninterest Income • Mortgage banking fees increased significantly over the firs
Slide 7: Aggressive Pursuit of Problem Credits in 2012 Resulting in Lower Workout Expenses in 2013
7 Aggressive Pursuit of Problem Credits in 2012 Resulting in Lower Workout Expenses in 2013 • Moderate economic expansion and increasing real estate values is leading to quicker resolution of problem loans and opportunities to sell OREO at more favorable pricing. • Expense associated with workouts i
Slide 8: Coverage Ratio Maintained as Net Charge Offs Slow
8 Coverage Ratio Maintained as Net Charge Offs Slow • Risk posture declining as credit issues abate • Less volatility expected going forward * Second quarter 2012 charge offs effected by a single large participation credit which was held for sale at year end and sold during the first quarter
Slide 9: Significant Reduction in Nonperforming Loan Inflow Resulting in Much Improved Credit Statistics
9 Significant Reduction in Nonperforming loan Inflow Resulting in Much Improved Credit Statistics Dollars in Thousands * Accruing loans 30 + days past due
Slide 10: Seacoast Retail Franchise Continues to Accrete Value
10 Seacoast Retail Franchise Continues to Accrete Value • On - going Sales coaching is yielding additional accounts per customer and higher customer balances on average • Launched a tablet platform, rebranded business and consumer internet banking, and rolled out enhanced ATM capabilities. • Adding
Slide 11: 2013 - 2014 Priorities
11 2013 - 2014 Priorities Building Shareholder Value • Continue expense control posture, maximize revenue opportunities and position the bank for stronger earnings in 2014 • Continue reducing risk posture, positioning for an exit of the formal agreement and DTA recovery • Position for offensive stra
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