Seacoast Banking Corporation Of Florida · NASDAQ:SBCF
Seacoast Banking Corporation Of Florida — Seacoast Banking Corp of Florida — Investor Presentation (September 2025)
43 slides from Seacoast Banking Corporation Of Florida's investor presentation, Sep 8, 2025
Slide 1: Investor Presentation August 2025
INVESTOR PRESENTATION AUGUST 2025 2025
Slide 2: Cautionary Notice Regarding Forward-Looking Statements
2AUGUST 2025 INVESTOR PRESENTATION Cautionary Notice Regarding Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning, and protections, of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
Slide 3: Important Information for Investors and Shareholders
3AUGUST 2025 INVESTOR PRESENTATION Important Information for Investors and Shareholders Seacoast has filed with the SEC a registration statement on Form S-4 containing a proxy statement of Villages Bancorporation, Inc. and a prospectus of Seacoast, and Seacoast will file other documents with respect
Slide 4: Agenda
01 ABOUT SEACOAST BANK 02 STRATEGIC PRIORITIES 03 COMPANY PERFORMANCE 04 APPENDIX
Slide 5: About Seacoast Bank
AGENDA ABOUT SEACOAST BANK
Slide 6: M&A Strategy Delivering Consistent Growth and Long-Term Value Creation
6AUGUST 2025 INVESTOR PRESENTATION M&A Strategy Delivering Consistent Growth and Long-Term Value Creation
Slide 7: Seacoast Continues to Build its Story as the #1 Pure Play Florida Public Bank
7AUGUST 2025 INVESTOR PRESENTATION Seacoast Continues to Build its Story as the #1 Pure Play Florida Public Bank¹ 1. Deposit data as of June 30, 2024. Excludes Raymond James Financial, Inc. 2. For illustrative purposes, assumes transaction closes December 31, 2025, cost savings are 100% phased-in an
Slide 8: Acquisition of Villages Bancorporation, Holding Company of Citizens First Bank
8AUGUST 2025 INVESTOR PRESENTATION Acquisition of Villages Bancorporation, Holding Company of Citizens First Bank Note: Deposit data as of June 30, 2024 Sources: S&P Capital IQ Pro. FDIC Transformative acquisition of Villages Bancorporation, Inc. (“VBI”), holding company of Citizens First Bank, esta
Slide 9: A Strategically Compelling Acquisition with Granular Core Deposits
9AUGUST 2025 INVESTOR PRESENTATION A Strategically Compelling Acquisition with Granular Core Deposits 1. Deposit data as of June 30, 2024. Reflects Florida domiciled deposits. Excludes Raymond James Financial, Inc. 2. 2026 fully-phased in EPS accretion. For illustrative purposes, assumes transaction
Slide 10: Illustrative Pro Forma Financial Impact
10AUGUST 2025 INVESTOR PRESENTATION Illustrative Pro Forma Financial Impact 1. Eliminates double count related to CECL adoption 2. For illustrative purposes, assumes transaction closes December 31, 2025, cost savings are 100% phased-in and excludes one-time transaction related costs. Includes fully-
Slide 11: Attractive Pro Forma Results
11AUGUST 2025 INVESTOR PRESENTATION Attractive Pro Forma Results 1. For illustrative purposes, reflects 2026 estimated performance assuming transaction closes December 31, 2025, cost savings are 100% phased-in and excludes one-time transaction related costs Note: Includes public banks headquartered
Slide 12: Strategic Priorities
AGENDA STRATEGIC PRIORITIES
Slide 13: Executing Our Balanced Growth Strategy
13AUGUST 2025 INVESTOR PRESENTATION Executing Our Balanced Growth Strategy Relationship Oriented Value Proposition High Performance Culture Attractive Markets Opportunistic Acquisitions Fortress Balance Sheet Resonates with both clients and bankers. Treasury management product expansion and wealth m
Slide 14: Company Performance
AGENDA COMPANY PERFORMANCE
Slide 15: Second Quarter 2025 Highlights
15AUGUST 2025 INVESTOR PRESENTATION • Net income increased 36% to $42.7 million, or $0.50 per diluted share, and adjusted net income1 increased 39% to $44.5 million, or $0.52 per diluted share. • Strong gains in return on average assets, return on tangible common equity and the efficiency ratio. • L
Slide 16: Net Interest Income
16AUGUST 2025 INVESTOR PRESENTATION Net Interest Income ($ in th ou sa nd s) $104,657 $106,975 $116,115 $118,857 $127,295 3.18% 3.17% 3.39% 3.48% 3.58% 2.87% 2.90% 3.05% 3.24% 3.29% Net Interest Income Net Interest Margin NIM, excluding accretion on acquired loans 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 • Net
Slide 17: Efficiency Gains and Net Interest Margin Expansion Drive ROA Improvement
17AUGUST 2025 INVESTOR PRESENTATION Efficiency Gains and Net Interest Margin Expansion Drive Return on Average Assets Improvement 3.01% 3.49% 3.33% 2.93% 3.29% 1.39% 1.15% 0.91% 0.89% 1.13% 52.59% 53.03% 57.35% 59.22% 55.36% NIM, excluding accretion on acquired loans Adjusted ROA Adjusted Efficiency
Slide 18: Noninterest Income
18AUGUST 2025 INVESTOR PRESENTATION Noninterest income increased $2.3 million from the prior quarter to $24.5 million, and adjusted noninterest income1 increased $2.5 million to $24.5 million. Changes from the prior quarter include: Service charges on deposits totaled $5.5 million, an increase of $0
Slide 19: Continued Focus on Building Wealth Management Assets
19AUGUST 2025 INVESTOR PRESENTATION Assets Under Management End-of-Period ($ in millions) $1,239 $1,387 $1,711 $2,053 $2,214 2021 2022 2023 2024 2Q’25 Continued Focus on Building Wealth Management Assets under management totaled $2.2 billion at June 30, 2025, increasing 16% year over year. The wealt
Slide 20: Noninterest Expense
20AUGUST 2025 INVESTOR PRESENTATION Noninterest Expense Salaries and wages totaled $44.4 million, an increase of $2.2 million, or 5%, from the prior quarter. The increase from the prior quarter represents higher performance driven incentive compensation. Employee benefits totaled $8.1 million, a dec
Slide 21: Disciplined Approach to Lending in a Strong Florida Economy
21AUGUST 2025 INVESTOR PRESENTATION $834 $831 $693 $982 $921 $538 $658 $903 $555 $854 Pipeline Originations 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 Loan Pipeline End-of-Period vs Originations ($ in millions) $10,039 $10,205 $10,300 $10,443 $10,609 5.93% 5.94% 5.93% 5.90% 5.98% 5.52% 5.58% 5.48% 5.58% 5.58% Yi
Slide 22: Loan Portfolio Mix
22AUGUST 2025 INVESTOR PRESENTATION At June 30, 2025 Loan Portfolio Mix Seacoast's lending strategy results in a diverse and granular loan portfolio. Seacoast’s average loan size is $437 thousand and the average commercial loan size is $872 thousand. Portfolio diversification in terms of asset mix,
Slide 23: Allowance for Credit Losses and Purchase Discount
23AUGUST 2025 INVESTOR PRESENTATION Allowance for Credit Losses and Purchase Discount ($ in thousands) Loans Outstanding Allowance for Credit Losses % of Loans Outstanding Purchase Discount % of Loans Outstanding Construction and Land Development $ 603,079 $ 6,556 1.09 % $ 1,571 0.26 % Owner Occupie
Slide 24: Continued Strong Asset Quality Trends
24AUGUST 2025 INVESTOR PRESENTATION Net Charge-Offs $7,445 $6,113 $7,038 $2,462 0.40% 0.29% 0.24% 0.27% 0.09% NCO NCO/Average Loans 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 ($ in thousands) Allowance for Credit Losses $141,641 $140,469 $138,055 $140,267 $142,184 1.41% 1.38% 1.34% 1.34% 1.34% ACL ACL/Total Loan
Slide 25: Investment Securities Performance and Composition
25AUGUST 2025 INVESTOR PRESENTATION Investment Securities Performance and Composition High quality AFS portfolio consisting of 91% agency backed securities, with the remainder comprised primarily of highly-rated investment grade bonds. CLO portfolio is entirely AA/AAA rated. Net unrealized losses in
Slide 26: Distinctive Deposit Franchise Supported by Attractive Markets
26AUGUST 2025 INVESTOR PRESENTATION Deposits End-of-Period ($ in millions) $12,116 $12,244 $12,242 $12,575 $12,498 5.50% 5.00% 4.50% 4.50% 4.50% 2.31% 2.34% 2.08% 1.93% 1.80% Total Deposits Fed Funds Upper Limit Cost of Deposits 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 Distinctive Deposit Franchise Supported b
Slide 27: Granular, Diverse and Relationship-Focused Customer Funding Base
27AUGUST 2025 INVESTOR PRESENTATION Deposits End-of-Period ($ in millions) $12,116 $12,244 $12,242 $12,575 $12,498 Transaction Accounts Savings Money Market Brokered Time Deposits 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 Granular, Diverse and Relationship-Focused Customer Funding Base The Company benefits from
Slide 28: Robust Capital Position Supporting a Fortress Balance Sheet
28AUGUST 2025 INVESTOR PRESENTATION $15.41 $16.20 $16.12 $16.71 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 9.3% 9.6% 9.6% 9.6% 9.8% 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 15.9% 16.1% 16.2% 16.1% 16.1% 14.5% 14.7% 14.8% 14.7% 14.6% Total Risk Based Capital Tier 1 Ratio 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 10.8% 10.3% 10.9% 10.2%
Slide 29: Investor Relations
Michael Young EVP, Treasurer & Director of Corporate Development & Investor Relations Michael.Young@SeacoastBank.com (772) 403-0451 INVESTOR RELATIONS NASDAQ: SBCF
Slide 30: Appendix
30AUGUST 2025 INVESTOR PRESENTATION Appendix
Slide 31: Quarterly Trend
31AUGUST 2025 INVESTOR PRESENTATION Quarterly Trend Six Months Ended ($ in thousands) 2Q'25 1Q'25 4Q'24 3Q'24 2Q'24 2Q'25 2Q'24 Commercial pipeline at period end $ 861,237 $ 904,111 $ 634,150 $ 773,492 $ 773,085 $ 861,237 $ 773,085 Commercial loan originations 715,271 422,837 748,342 518,041 414,183
Slide 32: Asset & Liability Yield/Rate Trends
32AUGUST 2025 INVESTOR PRESENTATION 7.95 7.86 7.30 7.02 7.02 3.26 3.25 2.88 2.63 2.49 4.65 4.73 4.77 4.80 4.91 2.31 2.34 2.08 1.93 1.80 3.69 3.75 3.77 3.88 3.87 Variable Rate Loans Interest-Bearing Deposit Costs Fixed/Adjustable Rate Loans Total Deposit Costs Securities 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25
Slide 33: Villages Bancorporation, Inc. Transaction Summary
33AUGUST 2025 INVESTOR PRESENTATION Villages Bancorporation, Inc. Transaction Summary Structure and Consideration • Villages Bancorporation, Inc. and Citizens First Bank to merge with and into Seacoast Banking Corporation of Florida and Seacoast National Bank • 25% cash / 75% stock consideration • E
Slide 34: Villages Bancorporation, Inc. Key Pro Forma Financial Assumptions
34AUGUST 2025 INVESTOR PRESENTATION Villages Bancorporation, Inc. Key Pro Forma Financial Assumptions One-Time Merger Costs & Cost Savings • Pre-tax, merger costs of $52 million • Cost savings equal to 27% of VBI’s non-interest expense base anticipated, 65% realized in 2026 • No branch closings are
Slide 35: Acquisition of Heartland Bancshares, Inc.
35AUGUST 2025 INVESTOR PRESENTATION Selected Assets and Liabilities Prior to Acquisition (excludes purchase accounting and fair value adjustments) July 2025 Acquisition of Heartland Bancshares, Inc. (in thousands) July 11, 2025 Selected Assets: Cash and cash equivalents $ 242,672 Securities 358,099
Slide 36: Recognition
36AUGUST 2025 INVESTOR PRESENTATION Recognition 2nd consecutive year 4th consecutive year 1st time winner 5th consecutive year 1st time winner 1st time winner 2nd consecutive year 2nd consecutive year
Slide 37: Explanation of Certain Unaudited Non-GAAP Financial Measures
37AUGUST 2025 INVESTOR PRESENTATION This presentation contains financial information determined by methods other than Generally Accepted Accounting Principles (“GAAP”). The financial highlights provide reconciliations between GAAP and adjusted financial measures including net income, noninterest inc
Slide 38: Non-GAAP Reconciliation: Quarterly Trend
38AUGUST 2025 INVESTOR PRESENTATION Quarterly Trend Six Months Ended (Amounts in thousands except per share data) 2Q'25 1Q'25 4Q'24 3Q'24 2Q'24 2Q'25 2Q'24 Net Income $ 42,687 $ 31,464 $ 34,085 $ 30,651 $ 30,244 $ 74,151 $ 56,250 Total noninterest income 24,521 22,180 17,068 23,679 22,184 46,701 42,
Slide 39: Non-GAAP Reconciliation: Quarterly Trend
39AUGUST 2025 INVESTOR PRESENTATION Quarterly Trend Six Months Ended (Amounts in thousands except per share data) 2Q'25 1Q'25 4Q'24 3Q'24 2Q'24 2Q'25 2Q'24 Adjusted Noninterest Expense $ 89,308 $ 89,546 $ 85,295 $ 84,818 $ 82,537 178,854 165,814 Provision for credit losses on unfunded commitments (1
Slide 40: Non-GAAP Reconciliation: Quarterly Trend
40AUGUST 2025 INVESTOR PRESENTATION Quarterly Trend Six Months Ended (Amounts in thousands except per share data) 2Q'25 1Q'25 4Q'24 3Q'24 2Q'24 2Q'25 2Q'24 Average Assets $ 15,801,194 $ 15,395,642 $ 15,204,041 $ 14,996,846 $ 14,839,707 15,599,540 14,765,241 Less average goodwill and intangible asset
Slide 41: Non-GAAP Reconciliation: Quarterly Trend
41AUGUST 2025 INVESTOR PRESENTATION Quarterly Trend Six Months Ended (Amounts in thousands except per share data) 2Q'25 1Q'25 4Q'24 3Q'24 2Q'24 2Q'25 2Q'24 Yield on Loans1 5.98 % 5.90 % 5.93 % 5.94 % 5.93 % 5.94 % 5.92 % Impact of accretion on acquired loans (0.40) (0.32) (0.45) (0.36) (0.41) (0.36)
Slide 42: Non-GAAP Reconciliation: Annual
42AUGUST 2025 INVESTOR PRESENTATION (Amounts in thousands except per share data) FY2024 FY2023 FY2022 FY2021 Net Income $ 120,986 $ 104,033 $ 106,507 $ 124,403 Total noninterest income 83,428 79,152 66,091 70,727 Securities losses (gains), net 8,016 2,893 1,096 578 BOLI benefits on death (included i
Slide 43: Non-GAAP Reconciliation: Annual
43AUGUST 2025 INVESTOR PRESENTATION (Amounts in thousands except per share data) FY2024 FY2023 FY2022 FY2021 Net Revenue $ 515,399 $ 567,392 $ 432,253 $ 346,752 Total Adjustments to Net Revenue 8,016 776 1,096 (177) Impact of FTE adjustment 1,074 803 498 516 Adjusted Net Revenue on a FTE basis $ 524
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