SBCF
Seacoast Banking Corporation of Florida32.26
-0.43-1.32%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Hiring details, capital hints surface
Q&A largely reinforced the prepared script on Villages integration and 2026 guidance, but unpacked loan growth as 10% annualized from legacy hires, 2-3% Villages mortgages, and slower paydowns. Management detailed a 15% banker hiring surge for 2026--benefits hit '27/'28--and affirmed no further securities restructures after recent moves. Atlanta expansion targets five branches, 20 bankers in three years; Florida housing has condo retrofit drags and Fort Myers oversupply, yet Southeast demand stays firm. Capital returns like buybacks beckon post-conversion. No more securities shuffles planned. Investors will eye hiring traction and payoff rates.
Key Stats
Market Cap
3.16BP/E (TTM)
19.20Basic EPS (TTM)
1.68Dividend Yield
0.02%Recent Filings
10-K
FY2025 results
Seacoast Banking grew assets to $20.8B and deposits to $16.3B in FY2025 ended December 31, 2025, fueled by VBI and Heartland acquisitions adding $4.7B deposits while organic loans rose 9% to $12.6B. Net income hit $144.9M (up 20% y/y), with net interest income surging 28% to $553.5M and NIM expanding to 3.58% as deposit costs fell 44bps to 1.79%; Q4 NIM hit 3.66% (up 9bps q/q, excluding accretion). Acquisitions drove Q4 provision to $29.3M (incl. $22.7M day-1 VBI hit), yet NPAs dropped 23% to 0.37% assets. Strong liquidity with 78% loan-to-deposit ratio. Expects 29-31% revenue growth in 2026. CRE concentration risks loom.
8-K
VBI acquisition completed
Seacoast Banking completed its transformative acquisition of Villages Bancorporation on October 1, 2025, adding $4.4B assets, $1.2B loans, and $3.5B low-cost deposits from The Villages community. Q4 2025 delivered net income of $34.3M, NII up 31% to $174.6M, NIM at 3.44% (ex-accretion), and 15% organic loan growth. VBI boosts scale; system conversion finishes Q3 2026. 2026 outlook: adjusted EPS $2.48-$2.52.
8-K
Securities portfolio repositioned
Seacoast repositioned its available-for-sale securities portfolio on January 23, 2026, selling low-yield holdings at 1.9% book yield for $277 million proceeds, booking a $39.5 million pre-tax loss. Funds reinvested into agency mortgage-backed securities yielding 4.8% taxable equivalent, boosting net interest margin while capital stays robust at 15.8%. Low yields dragged; repositioning lifts earnings.
8-K
Renews $150M buyback program
Seacoast Banking renewed its share repurchase program on December 19, 2025, boosting authorization to $150 million—about 5% of outstanding common stock—through December 31, 2026. Shares can be bought openly or via Rule 10b5-1 plans, market conditions permitting. No obligation to repurchase. Program signals capital return amid post-acquisition strength.
10-Q
Q3 FY2025 results
Seacoast Banking posted Q3 net income of $36.5M, up 19% y/y, with diluted EPS of $0.42 on 87.4M shares, matching basic EPS of $0.42. Net interest income jumped 25% y/y to $133.5M on loan and securities growth, while deposit costs fell to 1.81%. Expenses rose 20% y/y to $102.0M, driven by $10.8M merger charges from the July Heartland deal ($111.2M cash/stock, $22.2M goodwill, $20.9M core deposit intangibles over 10 years). Loans hit $11.0B, up 6% q/q; cash at $306M backs $690M FHLB debt. Provision for credit losses climbed to $8.4M. CRE loans pose concentration risk.
IPO
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