Seacoast Banking Corporation Of Florida · NASDAQ:SBCF
Seacoast Banking Corporation Of Florida — Seacoast Banking Corp of Florida — Q4 2013 Earnings Presentation
12 slides from Seacoast Banking Corporation Of Florida's earnings presentation, Feb 3, 2014
Slide 1: Fourth Quarter 2013
Fourth Quarter 2013 January 30, 2014
Slide 2: Cautionary Notice Regarding Forward-Looking Statements
2 Cautionary Notice Regarding Forward - Looking Statements This press release contains “forward - looking statements” within the meaning of Section 27 A of the Securities Act of 1933 and Section 21 E of the Securities Exchange Act of 1934 , including, without limitation, statements about future fina
Slide 3: Generating Momentum – 2013 Highlights
3 Generating Momentum – 2013 Highlights Building Shareholder Value • Reversal of the valuation allowance on deferred tax assets • Successfully raised $75 million in common equity capital • Redemption of $50 million in Series A Preferred Stock • Pretax income totaled $11.6 million in 2013, up $12.3 m
Slide 4: Cost Reductions Powered Opportunities to Invest in Revenue Producing Strategies
4 Cost Reductions Powered Opportunities to Invest in Revenue Producing Strategies • Continued investment in commercial customer acquisition and digital channel delivery while simultaneously reducing overheard in multiple areas • Approximately $3.4 million in annualized expenses in 2013 was attributa
Slide 5: Loan Production Remains Strong
5 Loan Production Remains Strong • Net loans increased $78 million or 6.4% year over year • Total loan production of $563 million for 2013, up 18.8% from 2012 • Commercial loan production totaled $200 million in 2013, an increase of $89 million or 80% from 2012 • New Accelerate commercial banking br
Slide 6: Continued Growth in Noninterest Income Fueled by Increased Deposit and Wealth Fees
6 Continued Growth in Noninterest Income Fueled by Increased Deposit and Wealth Fees • Fee changes and deposit product restructuring in 2013 resulted in interchange income up 20.1% and service charges up 7.5% compared to 2012 • Wealth management service fees up $992 thousand or 29.6% compared to pri
Slide 7: Aggressive Pursuit of Problem Credits in 2012 Resulting in Lower Workout Expenses in 2013
7 Aggressive Pursuit of Problem Credits in 2012 Resulting in Lower Workout Expenses in 2013 • Moderate economic expansion and increasing real estate values is leading to quicker resolution of problem loans and opportunities to sell OREO at more favorable pricing • Expense associated with workouts ha
Slide 8: Coverage Ratio Maintained as Net Charge Offs Slow
8 Coverage Ratio Maintained as Net Charge Offs Slow • Risk posture declining as credit issues abate • Continued lower volatility expected going forward Net Charge Offs To Average Loans 0.69% 0.26% 0.00% 0.10% 0.20% 0.30% 0.40% 0.50% 0.60% 0.70% 0.80% Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Coverage
Slide 9: Significant Reduction in Nonperforming Loan Inflow Resulting in Much Improved Credit Statistics
9 Significant Reduction in Nonperforming Loan Inflow Resulting in Much Improved Credit Statistics * Accruing loans 30 + days past due $14,950 $2,167 $- $5,000 $10,000 $15,000 $20,000 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 NPL Inflows $44,179 $25,137 $0 $10,000 $20,000 $30,000 $40,000 $50,00
Slide 10: Seacoast Retail Franchise Continues to Accrete Value
10 Seacoast Retail Franchise Continues to Accrete Value • Core customer funding totaled $1.7 billion at December 31, 2013, up $101.4 million from the prior year • Smart phone deposit capture for consumer and business customers launched in the fourth quarter • Enhanced customer transfer capabilities
Slide 11: 2014 Priorities
11 2014 Priorities Building Shareholder Value • After raising capital and redeeming our preferred stock we have taken an offensive position and shifted our focus to accelerating growth and acquisition opportunities • Moving into 2014 we will continue to invest in revenue growth while maintaining our
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