Seacoast Banking Corporation Of Florida · NASDAQ:SBCF
Seacoast Banking Corporation Of Florida — Seacoast Banking Corp of Florida — Q1 2019 Earnings Presentation
18 slides from Seacoast Banking Corporation Of Florida's earnings presentation, Apr 25, 2019
Slide 1: Earnings Presentation First Quarter 2019 Results
Earnings Presentation FIRST QUARTER 2019 RESULTS Contact: (email) Chuck.Shaffer@SeacoastBank.com (phone) 772.221.7003 (web) www.SeacoastBanking.com
Slide 2: Cautionary Notice Regarding Forward-Looking Statements
2 FIRST QUARTER 2019 EARNINGS PRESENTATION Cautionary Notice Regarding Forward - Looking Statements This press release contains “forward - looking statements” within the meaning, and protections, of Section 27 A of the Securities Act of 1933 and Section 21 E of the Securities Exchange Act of 1934 ,
Slide 3: Valuable Florida Franchise With Balanced Growth Strategy
3 FIRST QUARTER 2019 EARNINGS PRESENTATION Seacoast Bank [NASDAQ: SBCF] Valuable Florida Franchise With Balanced Growth Strategy, Benefiting from Attractive Geography, Investments in Customer Analytics and Business Banking Platform, and Disciplined Acquisition Strategy • $ 6 . 8 billion in assets as
Slide 4: First Quarter Highlights
4 FIRST QUARTER 2019 EARNINGS PRESENTATION First Quarter Highlights WITH A GROWING PRESENCE IN FLORIDA'S MOST ATTRACTIVE MARKETS, SEACOAST IS ONE OF FLORIDA'S TOP - PERFORMING BANKING FRANCHISES • Earnings per share totaled $ 0 . 44 on a GAAP basis and $ 0 . 47 on an adjusted basis 1 • On a GAAP bas
Slide 5: Net Interest Income and Margin
5 FIRST QUARTER 2019 EARNINGS PRESENTATION Net Interest Income and Margin • Net interest income 1 totaled $ 60 . 9 million, up $ 0 . 8 million or 1 % from the prior quarter and $ 11 . 0 million or 22 % from the prior year quarter . • Net interest margin 1 increased 2 basis points to 4 . 02 % quarter
Slide 6: Adjusted Noninterest Income
6 FIRST QUARTER 2019 EARNINGS PRESENTATION Adjusted Noninterest Income 1 • Adjusted noninterest income 1 totaled $ 12 . 8 million, flat sequentially and up $ 0 . 4 million compared to the prior year quarter . Quarter - over - quarter results include : ⦁ Service charges on deposits declined by $ 0 .
Slide 7: Adjusted Noninterest Expense
7 FIRST QUARTER 2019 EARNINGS PRESENTATION Adjusted Noninterest Expense 1 • Adjusted noninterest expense in the first quarter includes : ⦁ Salaries and benefits included higher seasonal payroll taxes and 401 (k) plan contributions, typical of the first quarter . Additionally, we hired 10 business ba
Slide 8: Efficiency Ratio
8 FIRST QUARTER 2019 EARNINGS PRESENTATION Efficiency Ratio • The efficiency ratio was 56 . 6 % compared to 65 . 8 % in the prior quarter and 57 . 8 % in the first quarter of 2018 . • The adjusted efficiency ratio 1 was 55 . 8 % compared to 54 . 2 % in the prior quarter and 57 . 1 % in the first qua
Slide 9: Loan Growth Momentum Continues
9 FIRST QUARTER 2019 EARNINGS PRESENTATION Loan Growth Momentum Continues, Supported by a Strong Florida Economy, and Prudent Guardrails • First quarter loans totaled $ 4 . 8 billion, an increase of $ 0 . 9 billion or 24 % year - over - year . Adjusting for acquisitions, loans grew $ 300 million or
Slide 10: Solid Deposit Growth Reflects Strong Franchise Fundamentals
10 FIRST QUARTER 2019 EARNINGS PRESENTATION Solid Deposit Growth Reflects Strong Franchise Fundamentals and Positioning in Attractive Markets • Interest - bearing deposits increased year - over - year by $ 312 . 4 million, or 13 % , to $ 2 . 8 billion . • Year - over - year noninterest demand deposi
Slide 11: Average Deposit Balances and Cost
11 FIRST QUARTER 2019 EARNINGS PRESENTATION Average Deposit Balances and Cost Our focus on organic growth and relationship - based funding, in combination with our innovative analytics platform, supports a well - diversified low - cost deposit portfolio . Our deposit beta continues to outperform our
Slide 12: Credit Quality
12 FIRST QUARTER 2019 EARNINGS PRESENTATION Credit Quality Non - Acquired 1 1 Includes charge off of $3.0 million for a single impaired loan. Net Charge - Offs ($ in thousands) Nonperforming Loans ($ in thousands) Provision for Loan Losses ( $ in thousands) ALLL ($ in thousands)
Slide 13: Maintaining Strong Capital to Support Balanced Growth Opportunities
13 FIRST QUARTER 2019 EARNINGS PRESENTATION Maintaining Strong Capital to Support Balanced Growth Opportunities 1 Non - GAAP measure, see “Explanation of Certain Unaudited Non - GAAP Financial Measures.” Tangible Book Value / Book Value Per Share Tangible Common Equity / Tangible Assets Total Risk B
Slide 14: On-track to Achieve Our Vision 2020 Objectives
14 FIRST QUARTER 2019 EARNINGS PRESENTATION On - track to Achieve Our Vision 2020 Objectives Vision 2020 Targets Return on Tangible Assets 1.30% + Return on Tangible Common Equity 16% + Efficiency Ratio Below 50%
Slide 15: Contact Details
15 FIRST QUARTER 2019 EARNINGS PRESENTATION Contact Details: Seacoast Banking Corporation of Florida Charles M. Shaffer Executive Vice President Chief Financial Officer (772) 221 - 7003 INVESTOR RELATIONS NASDAQ: SBCF
Slide 16: Explanation Measures
16 FIRST QUARTER 2019 EARNINGS PRESENTATION 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 GA
Slide 17: GAAP to Non-GAAP Reconciliation Quarterly Trend
17 FIRST QUARTER 2019 EARNINGS PRESENTATION GAAP to Non - GAAP Reconciliation Quarterly Trend (Amounts in thousands except per share data) 1Q'19 4Q'18 3Q'18 2Q'18 1Q'18 Net Income $ 22,705 $ 15,962 $ 16,322 $ 16,964 $ 18,027 Total noninterest income $ 12,836 $ 12,714 $ 12,291 $ 12,721 $ 12,296 Secur
Slide 18: GAAP to Non-GAAP Reconciliation Quarterly Trend
18 FIRST QUARTER 2019 EARNINGS PRESENTATION GAAP to Non - GAAP Reconciliation Quarterly Trend (Amounts in thousands except per share data) 1Q'19 4Q'18 3Q'18 2Q'18 1Q'18 Adjusted Noninterest Expense $ 41,098 $ 39,540 $ 35,913 $ 36,547 $ 35,705 Foreclosed property expense and net gain/(loss) on sale 4
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