Seacoast Banking Corporation Of Florida · NASDAQ:SBCF
Seacoast Banking Corporation Of Florida — Merger or Acquisition (February 2025)
15 slides from Seacoast Banking Corporation Of Florida's merger presentation, Feb 27, 2025
Slide 1: Acquisition of Heartland Bancshares, Inc.
Acquisition of Heartland Bancshares, Inc. February 27, 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 of 1933, the risks of mergers, acquisitions and divestitures, including the Company’s ability to continue to identi
Slide 3: Important Information For Investors And Shareholders
Important Information For Investors And Shareholders The Company will file with the SEC a registration statement on Form S-4 containing a proxy statement of Heartland and a prospectus of the Company, and the Company will file other documents with respect to the proposed transaction. A definitive pro
Slide 4: Florida Continues its Strong Economic Growth Trajectory
Florida Continues its Strong Economic Growth Trajectory Population (Millions) 38. 9 #1 31. 2 As the largest publicly-traded community bank with a dedicated Florida footprint, Seacoast has developed the bank to meet the 23. 2 unique needs of all Floridians. 19. 4 Florida was the top state for net in-
Slide 5: Pure Play Florida Bank with Opportunities for Continued In-State Growth
“Pure Play” Florida Bank with Opportunities for Continued In-State Growth Florida Deposit Market Share¹ Branch Market Public and Private Florida Banks³ Rank Deposits Count Share Institution (ST) (#) ($M) (#) (%) Traded on Asset Size Total NASDAQ & NYSE BankUnited Inc. 1 $21,512 50 19.2% < $500M 35 0
Slide 6: Continuing to Build a Florida Bank of Scale Through M&A
Continuing to Build a Florida Bank of Scale Through Successful M&A and Organic Growth Organic Assets ($B) M&A Acquired Assets ($B)¹ $15.9 $15.2 5% $14.6 18% $12.1 22% $9.7 $8.3 6% $7.1 7% $6.7 100% 95% $5.8 12% 82% $4.7 15% 94% 78% $3.5 18% $3.1 6% 100% 93% 22% 88% 85% 94% 82% 78% 2014 2015 2016 201
Slide 7: Heartland Acquisition Establishes Highlands County Presence
Heartland Acquisition Establishes Highlands County Presence with #1 Deposit Market Share Pro Forma Branch Footprint Highlands County, FL Deposit Market Share Highlands County, FL Deposit Market Share¹ Branch Market Rank Deposits Count Share Institution (ST) (#) ($000) (#) (%) Heartland Bancshares In
Slide 8: Overview of Heartland Bancshares, Inc.
Overview of Heartland Bancshares, Inc. Heartland Financial Highlights¹ $734 million $641 million $161 million Assets Deposits Loans 1.63% 19.8% 3.37% ROAA ROAE Net Interest Margin 25% 1.67% 0.04% Loan / Deposit Ratio Cost of Funds NPAs / Assets • Heartland Bancshares, Inc. was incorporated in 1999 a
Slide 9: Overview of Highlands County, FL
Overview of Highlands County, FL Market Highlights • The major sectors for job opportunities in Highlands County are in the Healthcare and Social Assistance, Retail Trade, Construction and Educational Services fields. • More than 86 percent of Florida’s population is located within a two-hour radius
Slide 10: Historically Low Deposit Costs and Attractive Beta Throughout the Cycle
Historically Low Deposit Costs and Attractive Beta Throughout the Cycle Further Improving Seacoast’s Strong Deposit Franchise Heartland Deposit Portfolio Highlights Heartland Deposit Beta: ~36% Seacoast Deposit Beta: ~48% 5.33 5.33 5.33 5.33 ~22,000 ~$30,000 ~9 Years 5.12 Number of Average Deposit A
Slide 11: A Financially Compelling Acquisition that Fits with Established Seacoast M&A Strategy
A Financially Compelling Acquisition that Fits with Established Seacoast M&A Strategy • Partnering with a bank with a shared philosophy and culture 2026E ROAA 2026E ROATCE • Entering the Sebring market ranked #1 in deposit market share Desirable 12.7% 1.08% Earnings • Acquiring a strong core deposit
Slide 12: Appendix
Appendix ACQUISITION OF HEARTLAND BANCSHARES, INC. 12
Slide 13: Transaction Structure and Key Terms
Transaction Structure and Key Terms • Heartland Bancshares, Inc. and Heartland National Bank to merge with and into Seacoast Banking Corporation of Florida and Seacoast Bank • 50% stock / 50% cash consideration Structure and Consideration • Each share exchanged for stock to receive 4.9164 shares of
Slide 14: Collar Mechanism Provides Price Protection and Upside if SBCF Stock Price Improves
Collar Mechanism Provides Price Protection and Upside if SBCF Stock Price Improves 50% Stock / 50% Cash per Share % Change Applicable Applicable Stock Cash CIRCLE TBV EPS TBV Dilution in SBCF Implied SBCF Exchange Ratio Exchange Ratio Deal Price Deal Price Deal Price Dilution Accretion Earnback Stoc
Slide 15: Conservative Balance Sheet Poised for Accretive Repositioning Post-Closing
Conservative Balance Sheet Poised for Accretive Repositioning Post-Closing Pro Forma¹ Other Consumer Other Consumer 1.9% Other 2.0% 2.1% 2.0% 14.6% C&I 1-4 Family 1-4 Family 1-4 Family C&I 14.4% 35.5% 27.3% 27.2% 14.4% Consumer Loan Composition 3.4% C&D C&I C&D 6.3% $10.3B 8.7% $161M 6.3% $10.5B L/D
Seacoast Banking Corporation of Florida — Merger or Acquisition (February 2025) on 6ix