Seacoast Banking Corporation Of Florida · NASDAQ:SBCF
Seacoast Banking Corporation Of Florida — Q2 2025 Earnings Presentation
29 slides from Seacoast Banking Corporation Of Florida's earnings presentation, Jul 25, 2025
Slide 1: Earnings Presentation Second Quarter 2025
EARNINGS PRESENTATION SECOND 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 payment risk, as well as the effect of a decline in stock market prices on our fee income from our wealth managemen
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 county ▪ #1 overall market share in Port St. Lucie MSA • Strong capit
Slide 4: Second Quarter 2025 Highlights
Second Quarter 2025 Highlights Comparisons are to the first quarter of 2025 unless otherwise stated • Net income increased 36% to $42.7 million, or $0.50 • Cost of deposits declined 13 basis points to 1.80%. per diluted share, and adjusted net income1 increased 39% to $44.5 million, or $0.52 per dil
Slide 5: Net Interest Income
Net Interest Income 1 Net Interest Income Net Interest Margin NIM, excluding accretion on acquired loans $127,295 $116,115 $118,857 3.58% 3.48% $104,657 $106,975 ($ in thousands) 3.39% 3.29% 3.24% 3.18% 3.17% 3.05% 2.87% 2.90% 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 • Net interest income1 totaled $127.3 milli
Slide 6: Noninterest Income
Noninterest Income ($ in thousands) 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 $39 million. Changes from the prior quarter include: $187 $25,456 $196 $24,482 $23,492 Service charges on deposits t
Slide 7: Continued Focus on Building Wealth Management
Continued Focus on Building Wealth Management Assets Under Management End-of-Period ($ in millions) $2,214 Assets under management totaled $2.2 billion at June $2,053 30, 2025, increasing 16% year over year. $1,711 The wealth management team has continued its $1,387 growth trajectory, adding $215 mi
Slide 8: Noninterest Expense
Noninterest Expense ($ in thousands) 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 $90,597 $91,730 performance driven incentive compensation. $84,818 $85,575 $82,537 Employee benefits totale
Slide 9: Disciplined Approach to Lending in a Strong Florida Economy
Disciplined Approach to Lending in a Strong Florida Economy Total Loans End-of-Period ($ in millions) Loans outstanding increased by $165.8 million, or 6.4% $10,609 annualized, from the prior quarter. $10,443 Loan originations grew 54% from the prior quarter to $10,300 $853.6 million, and pipelines
Slide 10: Loan Portfolio Mix
Loan Portfolio Mix At June 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 $437 thousand and the average commercial loan size is $872 Residential, 25% CRE-Office, 5% thousand. CRE-Multifamily 5+, 4% P
Slide 11: Allowance for Credit Losses and Purchase Discount
Allowance for Credit Losses and Purchase Discount Loans Allowance for Credit % of Loans % of Loans ($ in thousands) Outstanding Losses Outstanding Purchase Discount Outstanding Construction and Land Development $ 603,079 $ 6,556 1.09 % $ 1,571 0.26 % Owner Occupied Commercial Real Estate 1,778,930 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 $9,946 $92,446 $7,445 $80,857 $7,038 $71,018 $6,113 $59,927 0.90% $64,198 0.40% 0.79% 0.68% 0.61% 0.60% 0.29% 0.27% 0.24% $2,462 0.50%
Slide 13: Investment Securities Performance and Composition
Investment Securities Performance and Composition $3,479 $3,253 $2,866 $2,862 $2,628 $2,806 $2,625 High quality AFS portfolio consisting of 91% agency backed $2,227 $2,160 securities, with the remainder comprised primarily of $1,967 3.88% 3.87% highly-rated investment grade bonds. CLO portfolio is e
Slide 14: Distinctive Deposit Franchise Supported by Attractive Markets
Distinctive Deposit Franchise Supported by Attractive Markets Deposits End-of-Period ($ in millions) Total deposits decreased $77.2 million, or 2.5% annualized during the second quarter. Year over year, deposits have $12,575 $12,498 $12,116 $12,244 $12,242 increased by $381.5 million, or 3.1%. Conti
Slide 15: Granular, Diverse and Relationship-Focused Customer Funding Base
Granular, Diverse and Relationship-Focused Customer Funding Base Deposits End-of-Period ($ in millions) $12,244 $12,242 $12,575 $12,498 $12,116 12% 11% 11% 11% 12% The Company benefits from a granular deposit 2% 4% 2% 2% franchise, with the top ten depositors representing 3% approximately 3% of tota
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 $17.19 $16.71 9.6% 9.6% 9.6% 9.8% 9.3% $16.20 $16.12 $15.41 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 Return on Tangible Common Equity Total Risk-Based
Slide 17: Investor Relations Contacts
Tracey L. Dexter Chief Financial Officer Tracey.Dexter@SeacoastBank.com (772) 403-0461 Michael Young Treasurer & Director of Corporate Development & Investor Relations Michael.Young@SeacoastBank.com (772) 403-0451 INVESTOR RELATIONS NASDAQ: SBCF
Slide 18: Appendix
Appendix SECOND QUARTER 2025 EARNINGS PRESENTATION 18
Slide 19: Loan Production and Pipeline Trend
Loan Production and Pipeline Trend Quarterly Trend Six Months Ended ($ 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 20: Average Yield Trends
Average Yield Trends Quarterly Average Yields/Rates (%) Asset & Liability Yield/Rate Trends (%) 7.95 Earning asset yields expanded four basis points in 2Q’25 while the 7.86 rate on interest-bearing liabilities declined eight basis points. 7.30 6.00 3.70 7.02 7.02 Only 22% of Total Interest 5.00 3.60
Slide 21: Villages Bancorporation, Inc. Transaction Summary
Villages Bancorporation, Inc. Transaction Summary • 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 • Each share exchanged for cash to receive $1,000 Structure and • E
Slide 22: Villages Bancorporation, Inc. Key Pro Forma Financial Assumptions
Villages Bancorporation, Inc. Key Pro Forma Financial Assumptions • Pre-tax, merger costs of $52 million One-Time Merger Costs & • Cost savings equal to 27% of VBI’s non-interest expense base anticipated, 65% realized in 2026 Cost Savings • No branch closings are planned with this acquisition • Sale
Slide 23: July 2025 Acquisition of Heartland Bancshares, Inc.
July 2025 Acquisition of Heartland Bancshares, Inc. Selected Assets and Liabilities Prior to Acquisition Preliminary Purchase Price Information (excludes purchase accounting and fair value adjustments) (in thousands) July 11, 2025 (in thousands, except share data) Selected Assets: Cash consideration
Slide 24: Recognition
Recognition 5th consecutive year nd 2 consecutive year 1st time winner 2nd consecutive year 1st time winner 1st time winner 2nd consecutive year 4th consecutive year SECOND QUARTER 2025 EARNINGS PRESENTATION 24
Slide 25: 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 26: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation 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 42,681
Slide 27: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation 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 (150)
Slide 28: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation 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 29: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation 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) (0.
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