Seacoast Banking Corporation Of Florida · NASDAQ:SBCF
Seacoast Banking Corporation Of Florida — Seacoast Banking Corp of Florida — Q3 2013 Earnings Presentation
15 slides from Seacoast Banking Corporation Of Florida's earnings presentation, Oct 30, 2013
Slide 1: Third Quarter 2013
Third Quarter 2013 October 28, 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 • Valuation allowance on deferred tax assets reversed • Pretax income for the first nine months of 2013 totaled $9.7 million, up $10.6 million compared to the first nine months of 2012 • Net loan outstandings increased $39.7 mil
Slide 4: Cost Reductions Powering Opportunities to Invest in Revenue Producing Strategies
4 Cost Reductions Powering Opportunities to Invest in Revenue Producing Strategies • Continued investment in commercial customer acquisition while simultaneously reducing overheard in multiple areas. • Approximately $1.7 million in overheard in the first nine months was attributable to commercial cu
Slide 5: Loan Production Remains Strong
5 Loan Production Remains Strong • Commercial loan production totals $138.3 million through the first three quarters of 2013, an increase of $78.5 million from the same period last year. • Accelerate - innovative small business platform launched in three Florida metro markets including three offices
Slide 6: Continued Growth in Noninterest Income Fueled by Increased Deposit and Wealth Fees
6 Continued Growth in Noninterest Income Fueled by Increased Deposit and Wealth Fees • Fee changes and deposit product restructuring resulted in higher service charges and interchange income • Wealth management service fees up 29.3% compared to prior year • Noninterest related income growing as a pe
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: Recoveries Exceed Charge Offs, Coverage Ratio Climbs
8 Recoveries Exceed Charge Offs, Coverage Ratio Climbs • Third quarter sees net recoveries • Risk posture declining as credit issues abate • Less volatility expected going forward Net Charge Offs To Average Loans 0.79% -0.22% -0.40% -0.20% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% Q3 2012 Q4 2012 Q1 2013
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 Restructured Loans - Accruing $25,509 $44,179 $0 $10,000 $20,000 $30,000 $40,000 $50,000 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 NPL Inflows $14,
Slide 10: Seacoast Retail Franchise Continues to Accrete Value
10 Seacoast Retail Franchise Continues to Accrete Value • On - going Sales coaching is yielding additional services per customer and higher new customer balances on average • Launched a tablet platform, rebranded internet banking platforms and website, and rolled out enhanced ATM capabilities • Addi
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 • Position for offensive strategic opportunities and higher ROE in 2014 Growing Our Franchise • Improved value proposition with
Slide 12: Appendix
Appendix A Seacoast BANKING CORPORATION OF FLORIDA
Slide 13: Innovative Small Business Platform Launched in Three Florida Metro Markets
INNOVATIVE SMALL BUSINESS PLATFORM LAUNCHED IN THREE FLORIDA METRO MARKETS * One office in Ft. Lauderdale; one in Boca Raton; three in Orlando — all opened in 2013 * Fully integrated with our business internet and business mobile banking products * Operating playbook built around team based selling
Slide 14: Substantial Investment in Innovation Funded with Cost Savings
SUBSTANTIAL INVESTMENT IN INNOVATION FUNDED WITH CosT SAVINGS We have been making substantial investments in a more integrated distribution platform and new digital products to drive better growth, Excluding these investments our total expense structure is down 12% over the prior year Our actual exp
Slide 15: Seacoast National Bank Locations
Py Seacoast NATIONAL BANK, Basar LOCATIONS
Seacoast Banking Corp of Florida — Q3 2013 Earnings Presentation on 6ix