Seacoast Banking Corporation Of Florida · NASDAQ:SBCF
Seacoast Banking Corporation Of Florida — Seacoast Banking Corp of Florida — Q2 2019 Earnings Presentation
19 slides from Seacoast Banking Corporation Of Florida's earnings presentation, Jul 26, 2019
Slide 1: Earnings Presentation Second Quarter 2019 Results
Earnings Presentation SECOND 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 SECOND 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 SECOND QUARTER 2019 EARNINGS PRESENTATION Seacoast Banking Corporation of Florida [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 • $
Slide 4: Second Quarter Highlights
4 SECOND QUARTER 2019 EARNINGS PRESENTATION Second Quarter Highlights • Earnings per diluted share totaled $ 0 . 45 on a GAAP basis and $ 0 . 50 on an adjusted basis 1 • On a GAAP basis, ended the quarter at 1 . 50 % Return on Tangible Assets (ROTA) and 14 . 3 % Return on Average Tangible Common Equ
Slide 5: Net Interest Income and Margin
5 SECOND QUARTER 2019 EARNINGS PRESENTATION Net Interest Income and Margin • Net interest income 1 totaled $ 60 . 2 million, down $ 0 . 6 million or 1 % from the prior quarter and up $ 9 . 9 million or 20 % from the second quarter of 2018 . • Net interest margin 1 decreased 8 basis points to 3 . 94
Slide 6: Noninterest Income
6 SECOND QUARTER 2019 EARNINGS PRESENTATION Noninterest Income Adjusted noninterest income 1 , which excludes losses on sales of securities, totaled $ 14 . 0 million, up $ 1 . 2 million, or 9 % , sequentially and up $ 1 . 3 million, or 10 % , compared to the prior year quarter . Quarter - over - qua
Slide 7: Noninterest Expense
7 SECOND QUARTER 2019 EARNINGS PRESENTATION Noninterest Expense Noninterest expense declined $ 2 . 1 million and adjusted noninterest expense 1 declined $ 3 . 1 million sequentially . Changes quarter - over - quarter consisted of the following : ⦁ Other expenses decreased $ 1 . 0 million sequentiall
Slide 8: Efficiency Ratio
8 SECOND QUARTER 2019 EARNINGS PRESENTATION Efficiency Ratio • The efficiency ratio was 53 . 5 % compared to 56 . 6 % in the prior quarter and 58 . 4 % in the second quarter of 2018 . • The adjusted efficiency ratio 1 was 51 . 4 % compared to 55 . 8 % in the prior quarter and 57 . 3 % in the second
Slide 9: Loan Growth Momentum Continues
9 SECOND QUARTER 2019 EARNINGS PRESENTATION Loan Growth Momentum Continues, Supported by a Strong Florida Economy and Prudent Guardrails • Second quarter loans totaled $ 4 . 9 billion, an increase of $ 914 million or 23 % year - over - year . • New loan originations of $ 407 million, compared to $ 3
Slide 10: Solid Deposit Growth Reflects Strong Franchise Fundamentals
10 SECOND QUARTER 2019 EARNINGS PRESENTATION We Believe That Solid Deposit Growth Reflects Strong Franchise Fundamentals and Positioning in Attractive Markets • Total deposits grew 3 % on an annualized basis quarter - over - quarter, excluding the impact of a $ 99 million reduction in brokered time
Slide 11: Average Deposit Balances and Cost
11 SECOND 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 ou
Slide 12: Credit Quality
12 SECOND 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 SECOND 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" for more information and a reconciliation to GAAP Tangible Book Value / Book Value Per Share Tan
Slide 14: Confident in Ability to Achieve Vision 2020 Targets
14 SECOND QUARTER 2019 EARNINGS PRESENTATION We Remain Confident in our Ability to Achieve Our Vision 2020 Targets Vision 2020 Targets Return on Tangible Assets 1.30% + Return on Tangible Common Equity 16% + Efficiency Ratio Below 50%
Slide 15: Contact Details
15 SECOND QUARTER 2019 EARNINGS PRESENTATION Contact Details: Seacoast Banking Corporation of Florida Charles M. Shaffer Executive Vice President Chief Operating Officer and Chief Financial Officer (772) 221 - 7003 INVESTOR RELATIONS NASDAQ: SBCF
Slide 16: Explanation of Certain Unaudited Financial Measures
16 SECOND 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 G
Slide 17: GAAP to Non-GAAP Reconciliation Quarterly Trend
17 SECOND QUARTER 2019 EARNINGS PRESENTATION GAAP to Non - GAAP Reconciliation Quarterly Trend Six Months Ended (Amounts in thousands except per share data) 2Q'19 1Q'19 4Q'18 3Q'18 2Q'18 2Q'19 2Q'18 Net Income $ 23,253 $ 22,705 $ 15,962 $ 16,322 $ 16,964 $ 45,958 $ 34,991 Total noninterest income 13
Slide 18: GAAP to Non-GAAP Reconciliation Quarterly Trend
18 SECOND QUARTER 2019 EARNINGS PRESENTATION GAAP to Non - GAAP Reconciliation Quarterly Trend Six Months Ended (Amounts in thousands except per share data) 2Q'19 1Q'19 4Q'18 3Q'18 2Q'18 2Q'19 2Q'18 Adjusted Noninterest Expense $ 38,027 $ 41,098 $ 39,540 $ 35,913 $ 36,547 $ 79,125 $ 72,252 Foreclose
Slide 19: GAAP to Non-GAAP Reconciliation Quarterly Trend
19 SECOND QUARTER 2019 EARNINGS PRESENTATION GAAP to Non - GAAP Reconciliation Quarterly Trend Six Months Ended (Amounts in thousands except per share data) 2Q'19 1Q'19 4Q'18 3Q'18 2Q'18 2Q'19 2Q'18 Loan interest income excluding accretion on acquired loans $ 58,169 $ 58,397 $ 55,470 $ 46,349 $ 44,3
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