Seacoast Banking Corporation Of Florida · NASDAQ:SBCF
Seacoast Banking Corporation Of Florida — Seacoast Banking Corp of Florida — Q2 2017 Earnings Presentation
19 slides from Seacoast Banking Corporation Of Florida's earnings presentation, Aug 1, 2017
Slide 1: Q2 2017 Earnings Presentation
Q2 - 2017 Earnings Presentation Contact: (email) Chuck.Shaffer@SeacoastBank.com (phone) 772.221.7003 (web) www.SeacoastBanking.com
Slide 2: Forward-looking statements
This presentation 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 financial and operating results, ability to realized deferred ta
Slide 3: Seacoast Bank overview and customer map
• $5.3 billion in assets operating in the nation’s third most - populous state • Strong and growing presence in three of Florida’s most attractive MSAs ‒ Top 10 bank in Orlando ‒ Growing share in West Palm Beach ‒ #1 share in Port St Lucie MSA, 8 th largest market in Florida ‒ Growing presence in Ta
Slide 4: Seacoast's Differentiated Strategy
Experienced Board & Management Team Comprehensive Customer Servicing Model Track Record of Value - Creating Acquisitions Expanding Analytical & Digital Capabilities Well - Positioned to Benefit From Florida Market Focused on Controls Experienced Board & Management Team Comprehensive Customer Servici
Slide 5: 2Q'17 Highlights
5 2Q’17 Highlights Our second quarter results highlight our continued success in balancing organic growth with select acquisitions that accelerate our position in key markets. Our performance also underlines our commitment to delivering on our Vision 2020 objectives • Net revenue increased 25% year
Slide 6: Notable Items Affecting Q2 Results
6 Notable Items Affecting Q2 Results As we continue to scale and invest in achieving our Vision 2020 objectives, certain items, many of which were introduced last quarter, aggregated to $8.2 million in noninterest expense in the second quarter. • GulfShore and other merger and acquisition - related
Slide 7: Net Interest Income and Margin
7 $34,801 $37,735 $37,628 $38,377 $44,320 3.63% 3.69% 3.56% 3.63% 3.84% $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Net Interest Income and Net Interest Margin* ($ in thousands) • Net interest income * totaled $44.3 million, up $5.9 million or 15% fr
Slide 8: Adjusted Noninterest Income
8 $2,230 $2,698 $2,612 $2,422 $2,435 $2,370 $2,306 $2,334 $2,494 $2,671 $1,308 $1,283 $1,449 $1,257 $1,268 $1,364 $1,885 $1,616 $1,552 $1,272 $1,460 $1,210 $1,300 $1,447 $2,064 $ 382 $611 $733 $757 $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 $9,000 $10,000 $11,000 Q2-16 Q3-16 Q4-16 Q1
Slide 9: Adjusted Noninterest Expense
9 $15,245 $15,828 $14,799 $16,389 $18,225 $2,698 $3,223 $3,030 $3,267 $3,108 $4,184 $4,418 $4,463 $4,625 $4,750 $6,278 $6,645 $6,562 $6,641 $7,746 $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Other Occupancy / Telephone Data Processing Cost Salaries
Slide 10: Efficiency Ratio
10 89.40% 82.80% 104.50% 68.30% 68.60% 76.30% 72.6% 81.7% 78.0% 68.6% 62.4% 71.1% 73.9% 40% 50% 60% 70% 80% 90% 100% 110% GAAP - Efficiency 82.0% 79.6% 74.8% 67.5% 67.5% 68.2% 69.1% 69.6% 64.8% 63.1% 60.8% 64.7% 61.2% 40% 50% 60% 70% 80% 90% 100% 110% Adjusted - Efficiency 1 1 Non - GAAP measure, se
Slide 11: Total Loans Outstanding
11 Total Loans Outstanding (in millions) • Loans grew $714 million or 27% from year - ago levels. Adjusting for acquisitions, loans grew $463 million or 18%. Quarter over quarter, loans grew organically 4%, or $105 million. • Pipelines remain strong, with the commercial pipeline at $146 million, res
Slide 12: Deposit Balances
12 • Total deposits increased 14% from the second quarter of 2016; Transaction accounts represent 56% of total deposits, and have increased 17% year over year. • Cost of deposits remains very attractive at 0.17 %. $1,923 $1,945 $2,022 $2,096 $2,243 $1,192 $1,200 $1,149 $1,185 $1,238 $386 $365 $352 $
Slide 13: Credit Quality
13 Net Charge - offs Nonperforming Loans ALLL $20,725 $22,684 $23,400 $24,562 $26,000 0.99% 0.98% 0.96% 0.95% 0.95% 2Q 16 3Q 16 4Q 16 1Q 17 2Q 17 ALLL ALLL Ratio - Non Acquired $662 $550 $1,000 $1,304 $1,401 2Q 16 3Q 16 4Q 16 1Q 17 2Q 17 Provision Loan Loss Provision $(339) $(1,409) $283 $142 $(37)
Slide 14: Capital Position
Capital Position 14 Tangible Book Value / Book Value Per Share $9.08 $9.35 $9.37 $10.41 $10.55 $11.20 $11.45 $11.45 $12.34 $13.29 2Q 16 3Q 16 4Q 16 1Q 17 2Q 17 Tangible Book Value Per Share Book Value Per Share 10.6% 12.6% 13.1% 10.7% 11.2% 2Q 16 3Q 16 4Q 16 1Q 17 2Q 17 Adjusted Return on Tangible C
Slide 15: Contact Details: Seacoast Banking Corporation of Florida
Investor Presentation Charles M. Shaffer Executive Vice President Chief Financial Officer (772) 221 - 7003 Chuck.Shaffer@seacoastbank.com INVESTOR RELATIONS www.SeacoastBanking.com NASDAQ: SBCF 15 15 Contact Details: Seacoast Banking Corporation of Florida
Slide 16: YEARS
YEARS
Slide 17: Non-GAAP financial information notice
This presentation contains financial information determined by methods other than Generally Accepted Accounting Principles (“GAAP”) . The financial highlights provide reconciliations between GAAP net income and adjusted net income, GAAP income and adjusted pretax, preprovision income . Management us
Slide 18: GAAP to Non-GAAP Reconciliation
( Q2 16 – Q2 17) GAAP to Non - GAAP Reconciliation 18 (Dollars in thousands except per share data) Second Quarter: 2017 First Quarter: 2017 Fourth Quarter: 2016 Third Quarter: 2016Second Quarter: 2016 Net income (loss) $7,676 $7,926 $10,771 $9,133 $5,332 Boli Income 0 0 0 0 0 Security Gains -21 0 -7
Slide 19: GAAP to Non-GAAP Reconciliation
GAAP to Non - GAAP Reconciliation ( Q2 16 – Q2 17) 19 (Dollars in thousands) Second Quarter: 2017 First Quarter: 2017 Fourth Quarter: 2016 Third Quarter: 2016Second Quarter: 2016 Adjusted Revenue 54,623 48,070 47,347 47,212 43,604 Impact of FTE adjustment 164 211 204 287 308 Adjusted Revenue on a fu
Seacoast Banking Corp of Florida — Q2 2017 Earnings Presentation on 6ix