Seacoast Banking Corporation Of Florida · NASDAQ:SBCF
Seacoast Banking Corporation Of Florida — Q3 2025 Earnings Presentation
27 slides from Seacoast Banking Corporation Of Florida's earnings presentation, Oct 28, 2025
Slide 1: Earnings Presentation Third Quarter 2025
EARNINGS PRESENTATION THIRD QUARTER 2025 2025
Slide 2: Cautionary Notice Regarding Forward-Looking Statements
Cautionary Notice Regarding Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning, and protections, of Section 27A of the Securities Act regulatory capital requirements for banking organizations generally; the risks of mergers, acquisitions and divesti
Slide 3: Valuable Florida Franchise with Strong Capital and Liquidity
Valuable Florida Franchise with Strong Capital and Liquidity • Sustained, strong presence in Florida’s most attractive markets • #15 Florida market share ▪ #1 Florida-based bank in Orlando MSA ▪ #1 Florida-based bank in Palm Beach and 11 other counties ▪ #1 overall market share in Port St. Lucie MSA
Slide 4: Third Quarter 2025 Highlights
Third Quarter 2025 Highlights • Net income of $36.5 million, or $0.42 per share, • Tangible book value per share of $17.61 has which includes $10.8 million in merger-related increased 9% year over year, well overcoming the charges, increased 19% year over year. Adjusted dilutive impact of the Heartl
Slide 5: Net Interest Income
Net Interest Income 1 Net Interest Income Net Interest Margin NIM, excluding accretion on acquired loans $133,906 $127,295 $116,115 $118,857 $106,975 3.58% ($ in thousands) 3.57% 3.48% 3.39% 3.29% 3.32% 3.24% 3.17% 3.05% 2.90% 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 • Net interest income1 totaled $133.9 milli
Slide 6: Noninterest Income
Noninterest Income ($ in thousands) $39 Noninterest income decreased $0.7 million from the prior quarter to $23.8 $187 $25,456 million, and adjusted noninterest income1 increased $0.2 million to $24.7 $196 $24,482 $24,659 million. Results included $0.8 million in realized losses on securities. Other
Slide 7: Continued Focus on Building Wealth Management
Continued Focus on Building Wealth Management Assets Under Management End-of-Period ($ in millions) Assets under management totaled $2.5 billion at September 30, 2025, increasing 24% year over year. $2,467 The wealth management division delivered record $2,053 growth, adding $258 million in new asse
Slide 8: Noninterest Expense
Noninterest Expense Includes merger- ($ in thousands) ($ in thousands) 1 related charges Noninterest Expense of $10.8 million Adjusted Noninterest Expense $101,987 $90,597 $91,730 $89,546 $89,308 $91,179 $84,818 $85,575 $84,818 $85,295 59.8% 60.3% 60.7% 59.8% 59.5% 56.3% 57.0% 56.1% 55.4% 53.8% 3Q'2
Slide 9: Consistent Strong Loan Growth Supported by an Expanding Pipeline
Consistent Strong Loan Growth Supported by an Expanding Pipeline Loans outstanding increased by $355.3 million, or 13.3% Total Loans End-of-Period ($ in millions) annualized, from the prior quarter. Excluding the impact of the Heartland acquisition, loans increased 7.6% annualized. $10,964 The late
Slide 10: Loan Portfolio Mix
Loan Portfolio Mix At September 30, 2025 Consumer, 2% CRE-Retail, 12% Seacoast's lending strategy results in a diverse and granular loan portfolio. Seacoast’s average loan size is $435 thousand and the Residential, 25% average commercial loan size is $871 CRE-Office, 5% thousand. CRE-Multifamily 5+,
Slide 11: Allowance for Credit Losses and Purchase Discount
Allowance for Credit Losses and Purchase Discount Loans Allowance for Credit % of Loans % of Loans ($ in thousands) Outstanding Losses Outstanding Purchase Discount Outstanding Construction and Land Development $ 616,475 $ 7,366 1.19 % $ 1,543 0.25 % Owner Occupied Commercial Real Estate 1,898,704 1
Slide 12: Continued Strong Asset Quality Trends
Continued Strong Asset Quality Trends ($ in thousands) Nonperforming Loans Net Charge-Offs NCO NCO/Average Loans NPL NPL/Total Loans Accruing Past Due / Total Loans $92,446 $7,445 $80,857 $7,038 $71,018 $6,113 0.90% $64,198 $60,562 0.79% 0.68% 0.61% 0.29% 0.55% 0.27% $3,208 0.24% $2,462 0.50% 0.15%
Slide 13: Investment Securities Performance and Composition
Investment Securities Performance and Composition $3,811 $3,479 $3,212 $3,253 $2,866 $2,628 $2,806 $2,862 High quality portfolio consisting of 91% agency backed $2,160 $2,227 securities, with the remainder comprised primarily of highly-rated investment grade bonds. CLO portfolio is ($ in millions) 3
Slide 14: Granular, Diverse and Relationship-Focused Customer Funding Base
Granular, Diverse and Relationship-Focused Customer Funding Base Deposits End-of-Period ($ in millions) $13,090 $12,244 $12,242 $12,575 $12,498 12% 11% 11% 12% 11% 1% The Company benefits from a granular deposit 2% 4% 2% 2% franchise, with the top ten depositors representing approximately 3% of tota
Slide 15: Strong Deposit Growth and Well-Managed Deposit Costs
Strong Deposit Growth and Well-Managed Deposit Costs Organic deposit growth of $212.3 million, or 7% 3Q’25 Growth in Deposits ($ in millions) annualized, of which $80.4 million was noninterest bearing, during the third quarter. Continued focus on organic growth and relationship- $(326) $212 based fu
Slide 16: Robust Capital Position Supporting a Fortress Balance Sheet
Robust Capital Position Supporting a Fortress Balance Sheet Tangible Book Value Per Share Tangible Common Equity / Tangible Assets $17.61 9.6% 9.6% 9.6% 9.8% 9.8% $17.19 $16.71 $16.20 $16.12 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 Return on Tangible Common Equity Total Risk-Based
Slide 17: Appendix
Appendix THIRD QUARTER 2025 EARNINGS PRESENTATION 17
Slide 18: Loan Production and Pipeline Trend
Loan Production and Pipeline Trend Quarterly Trend Nine Months Ended ($ in thousands) 3Q'25 2Q'25 1Q'25 4Q'24 3Q'24 3Q'25 3Q'24 Commercial pipeline at period end $ 1,134,119 $ 861,237 $ 904,111 $ 634,150 $ 773,492 $ 1,134,119 $ 773,492 Commercial loan originations 757,912 715,271 422,837 748,342 518
Slide 19: Acquisition of Villages Bancorporation, Holding Company of Citizens First Bank
Acquisition of Villages Bancorporation, Holding Company of Citizens First Bank Transformative acquisition of Villages Bancorporation, Inc. (“VBI”), holding company of Citizens First Bank, established in 1991 by the developers of , a unique, affluent and growing 55+ residential community development
Slide 20: A Strategically Compelling Acquisition with Granular Core Deposits
A Strategically Compelling Acquisition with Granular Core Deposits • Creates a ~$21 billion asset franchise in some of the fastest growing markets in the United States, ranking as the 2nd largest publicly-traded bank in Florida by deposit market share and the largest pure play Florida public bank¹ S
Slide 21: October 2025 Acquisition of Villages Bancorporation, Inc.
October 2025 Acquisition of Villages Bancorporation, Inc. Selected Assets and Liabilities Prior to Acquisition Preliminary Purchase Price Information (excludes purchase accounting and fair value adjustments) (in thousands) September 30, 2025 (in thousands, except share data) Selected Assets: Cash co
Slide 22: Recognition
Recognition 5th consecutive year 1st time winner 2nd consecutive year 3rd consecutive year 1st time winner 2nd consecutive year 5th consecutive year THIRD QUARTER 2025 EARNINGS PRESENTATION 22
Slide 23: Explanation of Certain Unaudited Non-GAAP Financial Measures
Explanation of Certain Unaudited Non-GAAP Financial Measures This presentation contains financial information determined by These measures are also useful in understanding performance trends methods other than Generally Accepted Accounting Principles and facilitate comparisons with the performance o
Slide 24: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Quarterly Trend Nine Months Ended (Amounts in thousands except per share data) 3Q'25 2Q'25 1Q'25 4Q'24 3Q'24 3Q'25 3Q'24 Net Income $ 36,467 $ 42,687 $ 31,464 $ 34,085 $ 30,651 $ 110,618 $ 86,901 Total noninterest income 23,818 24,521 22,180 17,068 23,679 70,519 66,36
Slide 25: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Quarterly Trend Nine Months Ended (Amounts in thousands except per share data) 3Q'25 2Q'25 1Q'25 4Q'24 3Q'24 3Q'25 3Q'24 Adjusted Noninterest Expense $ 91,179 $ 89,308 $ 89,546 $ 85,295 $ 84,818 $ 270,033 $ 250,632 Provision for credit losses on unfunded commitments (
Slide 26: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Quarterly Trend Nine Months Ended (Amounts in thousands except per share data) 3Q'25 2Q'25 1Q'25 4Q'24 3Q'24 3Q'25 3Q'24 Average Assets $ 16,486,017 $ 15,801,194 $ 15,395,642 $ 15,204,041 $ 14,996,846 $ 15,898,279 $ 14,843,007 Less average goodwill and intangible asse
Slide 27: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Quarterly Trend Nine Months Ended (Amounts in thousands except per share data) 3Q'25 2Q'25 1Q'25 4Q'24 3Q'24 3Q'25 3Q'24 Yield on Loans1 5.96 % 5.98 % 5.90 % 5.93 % 5.94 % 5.95 % 5.93 % Impact of accretion on acquired loans (0.35) (0.40) (0.32) (0.45) (0.36) (0.36) (0
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