Financial Performance - Net income for Q3 2025 was $36.5 million, or $0.42 per diluted share, a 19% increase compared to Q3 2024[113] - Adjusted net income for Q3 2025 rose 48% year-over-year to $45.2 million, or $0.52 per share[113] - For the nine months ended September 30, 2025, net income totaled $110.6 million, a 27% increase compared to the same period in 2024[114] - Net income for Q3 2025 was $36,467,000, a decrease of 14.3% from Q2 2025's $42,687,000 and an increase of 19.0% from Q3 2024's $30,651,000[146] - Adjusted net income for Q3 2025 reached $45,164,000, compared to $44,466,000 in Q2 2025 and $30,511,000 in Q3 2024, reflecting a year-over-year increase of 47.9%[146] - Earnings per diluted share for Q3 2025 was $0.42, down from $0.50 in Q2 2025 but up from $0.36 in Q3 2024[146] - Adjusted earnings per diluted share for Q3 2025 was $0.52, consistent with Q2 2025 and up from $0.36 in Q3 2024[146] Acquisitions - The acquisition of Heartland Bancshares, completed on July 11, 2025, added approximately $153.3 million in loans and $705.2 million in deposits[107] - The acquisition of Villages Bancorporation, completed on October 1, 2025, expanded the company's presence with 19 new branches[108] - Seacoast expects the Heartland acquisition to be accretive to earnings in 2026, with tangible book value dilution earned back in approximately two years[107] - Total assets increased by $1.5 billion, or 10%, to $16.7 billion as of September 30, 2025, including the acquisition of Heartland which added $823.5 million in assets[149] Asset and Loan Growth - Organic deposit growth was 7% annualized, while organic loan growth was 8% annualized[113] - Average loans increased by $246.1 million (2%) in Q3 2025 compared to Q2 2025, and by $676.3 million (7%) compared to Q3 2024[117] - Loans, net of unearned income, totaled $11.0 billion at September 30, 2025, a $664.2 million, or 6.4%, increase from December 31, 2024[158] - CRE owner-occupied loans increased by $212.1 million, or 13%, totaling $1.9 billion at September 30, 2025[163] - Residential real estate loans rose by $78.0 million to $2.7 billion at September 30, 2025, with $1.0 billion in fixed-rate mortgages and $1.0 billion in adjustable-rate mortgages[165] - Commercial and financial loans increased by $156.6 million, or 9%, totaling $1.8 billion at September 30, 2025[166] Interest Income and Margin - Net interest income for Q3 2025 was $133.5 million, a 5% increase from Q2 2025[113] - Net interest income for Q3 2025 was $133,468,000, an increase of 5.0% from $126,864,000 in Q2 2025 and up 25.1% from $106,665,000 in Q3 2024[146] - The yield on securities was 3.89% for the nine months ended September 30, 2025, compared to 3.65% for the same period in 2024[117] - Net interest margin decreased one basis point to 3.57% in Q3 2025, but increased 40 basis points from 3.17% in Q3 2024, driven by lower deposit costs[116] Deposits and Funding - Total deposits increased by $847.9 million, or 7%, to $13.1 billion at September 30, 2025, driven by customer growth and the Heartland acquisition[193] - The cost of average total deposits was 1.81% in Q3 2025, down from 2.34% in Q3 2024[120] - Noninterest demand deposits represented 28% of total deposits at September 30, 2025, compared to 27% at December 31, 2024[194] - The cost of funds was 1.96% in Q3 2025, down from 2.43% in Q3 2024[116] Noninterest Income and Expenses - Noninterest income for Q3 2025 totaled $23.8 million, a decrease of $0.7 million, or 3%, from Q2 2025, but an increase of $0.1 million, or 1%, from Q3 2024[128] - Noninterest expense for Q3 2025 was $102.0 million, an increase of $10.3 million, or 11%, from Q2 2025, and an increase of $17.2 million, or 20%, from Q3 2024[135] - Wealth management income reached $4.6 million in Q3 2025, up $0.4 million, or 9%, from Q2 2025, and up $0.7 million, or 19%, from Q3 2024, with assets under management increasing by $414.1 million, or 20%[129] Credit Quality - The allowance for credit losses was $141,285 thousand as of September 30, 2025, slightly improved from $145,579 thousand in the previous year[127] - Nonperforming assets (NPAs) decreased to $65.6 million, down 34% from $98.9 million at the end of 2024[177] - The ratio of allowance for credit losses to total loans was 1.34% at September 30, 2025, unchanged from December 31, 2024[184] - The Company recorded a provision expense of $8.4 million for Q3 2025, compared to $6.3 million in Q3 2024[183] Capital and Ratios - The company maintains a strong capital position with a Tier 1 capital ratio of 14.5% and a tangible common equity to tangible assets ratio of 9.8%[113] - Shareholders' equity increased to $2,345,233 thousand in Q3 2025, up from $2,252,208 thousand in Q2 2024, reflecting a growth of 4.13%[126] - The total risk-based capital ratio was 15.90% at September 30, 2025, well above the regulatory minimum of 10.00%[208] Interest Rate Sensitivity - The projected impact of a +3.00% change in interest rates on net interest income for the 1-12 months is a decrease of 5.2%[215] - The Economic Value of Equity (EVE) is sensitive to interest rate changes, with a projected decrease of 18.3% for a +3.00% rate change and an increase of 9.4% for a -2.00% rate change[225] - A gradual shift in interest rates would have a more modest impact on EVE compared to an instantaneous shift[225]

Financial Data and Key Metrics Changes - Adjusted net income increased 48% year-over-year to $45.2 million or $0.52 per share [6] - Organic deposits grew $212 million or 7% annualized, including $80 million in non-interest-bearing deposits [6][15] - Net interest income was $133.5 million, a 5% increase from the prior quarter, and net interest margin expanded 3 basis points to 3.32% [6][8] - Tangible book value per share increased 9% year-over-year to $17.61 [7] Business Line Data and Key Metrics Changes - Wealth management achieved a record quarter with $258 million in new assets under management (AUM), the highest quarterly result in the division's history [9] - Non-interest income, excluding securities activity, was $24.7 million, increasing 5% from the prior year quarter [9] - Loan outstandings, excluding the impact of the Heartland acquisition, increased at an annualized 8% [11] Market Data and Key Metrics Changes - The pipeline for loans increased 30% to $1.2 billion, indicating strong demand across markets [11] - Non-performing loans declined by $3.6 million during the quarter, representing only 0.55% of total loans [13] Company Strategy and Development Direction - The company is focused on enhancing its return profile while delivering strong growth on both sides of the balance sheet [2] - The Villages Bancorporation acquisition is expected to provide significant growth opportunities and enhance liquidity [3][16] - The company aims to maintain a disciplined, conservative credit culture while expanding its loan portfolio [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth outlook and ability to deliver continued improvements and returns into 2026 [4][16] - The competitive landscape remains challenging, with tight credit spreads, but the company is navigating carefully [86] Other Important Information - The Heartland acquisition added four branches and approximately $824 million in assets, while The Villages acquisition added 19 branches and over $4 billion in assets [7][16] - The company expects to exit the year with a core net interest margin reaching approximately 3.45% [8] Q&A Session Summary Question: Growth outlook and pipeline momentum - Management highlighted impressive growth despite recent acquisitions and expressed confidence in maintaining high single-digit growth moving forward [21][24] Question: The Villages deal update - Management reported a smooth integration process and emphasized the importance of a seamless conversion for customers [40][42] Question: Loan pricing and spreads - Management noted that credit spreads are tight, particularly for high-quality loans, and emphasized a cautious approach [86] Question: Future investments and technology - Management confirmed ongoing investments in technology and infrastructure to support growth and compete effectively [48][49]

Financial Data and Key Metrics Changes - Adjusted net income increased 48% year over year to $45.2 million or $0.52 per share [6] - Organic deposits grew $212 million or 7% annualized, including $80 million in non-interest-bearing deposits [6][15] - Loan production showed organic growth of 8% on an annualized basis [6] - Net interest income was $133.5 million, a 5% increase from the prior quarter, and net interest margin expanded 3 basis points to 3.32% [6][8] Business Line Data and Key Metrics Changes - Wealth management achieved a record-breaking quarter with $258 million in new assets under management (AUM) [9] - Non-interest income, excluding securities activity, was $24.7 million, a 5% increase from the prior year quarter [9] - Non-interest expense increased to $102 million, including $10.8 million in merger-related expenses [10] Market Data and Key Metrics Changes - The loan pipeline increased 30% to $1.2 billion, indicating strong demand across markets [11] - Non-performing loans declined by $3.6 million, representing only 0.55% of total loans [13] - Customer transaction accounts made up 48% of total deposits, reflecting a strong relationship-focused approach [14] Company Strategy and Development Direction - The company is focused on enhancing its return profile while delivering strong growth on both sides of the balance sheet [2] - The Villages acquisition is expected to enhance liquidity and provide significant growth opportunities [3][12] - The company aims to maintain a disciplined, conservative credit culture while diversifying its loan portfolio [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth outlook and ability to deliver improvements and returns into 2026 [4][16] - The company anticipates continued high single-digit organic loan growth in the coming quarters [11] - Management noted that the market remains strong with broad-based demand across various sectors [45] Other Important Information - The company completed the acquisition of Heartland Bank shares, adding four branches and approximately $824 million in assets [7] - The technology conversion for the Heartland acquisition was fully completed in the third quarter [7] - The company expects to exit the year with a core net interest margin of approximately 3.45% [8] Q&A Session Summary Question: Growth outlook and pipeline momentum - Management highlighted impressive growth despite ongoing acquisitions and expressed confidence in maintaining high single-digit growth [22][24] Question: Expansion into Atlanta - Management discussed the strategy for expanding into Atlanta, focusing on commercial real estate and building a presence in the market [30][32] Question: Update on The Villages deal - Management reported a smooth integration process and emphasized the importance of a seamless conversion for customers [40][42] Question: Loan pricing and spreads - Management noted that credit spreads are tight and competitive, but they are navigating this carefully [86] Question: Impact of rising insurance costs in Florida - Management indicated that insurance premiums are stabilizing and not significantly impacting operations [90][91]

Financial Data and Key Metrics Changes - Adjusted net income increased 48% year over year to $45.2 million or $0.52 per share [5] - Organic deposits grew $212 million or 7% annualized, including $80 million in non-interest-bearing deposits [5][16] - Net interest income was $133.5 million, a 5% increase from the prior quarter, and net interest margin expanded 3 basis points to 3.32% [5][8] - Tangible book value per share increased 9% year over year to $17.61 [6][16] - Tier-one capital ratio is 14.5%, and tangible common equity to tangible assets ratio is 9.8% [6][16] Business Line Data and Key Metrics Changes - Wealth management achieved a record-breaking quarter with $258 million in new assets under management (AUM) [9] - Non-interest income, excluding securities activity, was $24.7 million, a 5% increase from the prior year quarter [9] - Non-interest expense increased to $102 million, including $10.8 million in merger-related expenses [10] Market Data and Key Metrics Changes - Loan outstandings, excluding the impact of the Heartland acquisition, increased at an annualized 8% [11] - The pipeline increased 30% to $1.2 billion, indicating strong demand across markets [11] - Customer transaction accounts represent 48% of total deposits, highlighting a relationship-focused approach [14] Company Strategy and Development Direction - The company is focused on organic growth and profitability goals while integrating recent acquisitions [17] - The Villages acquisition is expected to enhance liquidity and provide significant growth opportunities [3][17] - The company aims to maintain a disciplined credit culture while expanding its loan portfolio [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth outlook and ability to deliver improvements and returns into 2026 [4][17] - The company anticipates continued high single-digit organic loan growth in the coming quarters [11] - Management noted that credit spreads are tight, but they are navigating the competitive landscape carefully [77] Other Important Information - The technology conversion for the Heartland acquisition was completed in Q3, and the Villages conversion is planned for early Q3 2026 [7][38] - The company has limited exposure to shared national credits or non-depository financial institutions [15] Q&A Session Summary Question: Growth outlook and pipeline momentum - Management highlighted impressive growth despite recent acquisitions and expressed confidence in maintaining high single-digit growth moving forward [22][24] Question: The Villages acquisition update - Management reported a smooth integration process and strong reception in the Villages market, with plans for extensive customer engagement [37][40] Question: Loan pricing and spreads - Management noted that credit spreads are tight and competitive, but they are being cautious in their approach [75][77] Question: Future investments and technology - Management confirmed ongoing investments in technology and infrastructure to support growth and enhance customer offerings [45][46]

Group 1 - The article does not provide any specific content or key points related to a company or industry [1]

Financial Performance - Net income was $365 million, including $108 million in merger-related charges, representing a 19% year-over-year increase[11] - Net interest income totaled $1339 million, a 5% increase from the prior quarter[15] - Adjusted noninterest income increased by $02 million to $247 million[19] Growth and Acquisitions - Annualized organic deposit growth was 7%[11] - Annualized organic loan growth was 8%[11] - Completed the acquisition of Villages Bancorporation, Inc, adding 19 branches and approximately $4 billion in assets[11] Asset Quality and Capital - Tier 1 capital ratio stood at 145%[10, 11] - Loan-to-deposit ratio was 84%[10] - Assets under management totaled $2467 billion, a 24% year-over-year increase[23]

Core Insights - Seacoast Banking (SBCF) reported revenue of $158.13 million for Q3 2025, a year-over-year increase of 21.3% [1] - The company's EPS for the same period was $0.52, up from $0.36 a year ago, exceeding the consensus estimate of $0.47 by 10.64% [1] - The reported revenue surpassed the Zacks Consensus Estimate of $153.9 million, resulting in a surprise of 2.75% [1] Financial Performance Metrics - Net Interest Margin stood at 3.6%, matching the average estimate from two analysts [4] - Efficiency Ratio was reported at 60.7%, slightly higher than the estimated 59.1% [4] - Net interest income (FTE) was $133.91 million, below the average estimate of $135.85 million [4] - Total noninterest income reached $23.82 million, exceeding the estimated $22.55 million [4] Stock Performance - Seacoast Banking shares returned +2.8% over the past month, outperforming the Zacks S&P 500 composite's +2.5% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Core Insights - Seacoast Banking (SBCF) reported quarterly earnings of $0.52 per share, exceeding the Zacks Consensus Estimate of $0.47 per share, and showing an increase from $0.36 per share a year ago, resulting in an earnings surprise of +10.64% [1] - The company achieved revenues of $158.13 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.75% and up from $130.34 million year-over-year [2] - Seacoast Banking shares have increased approximately 14.2% year-to-date, compared to a 15.5% gain in the S&P 500 [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.28 on revenues of $176 million, and for the current fiscal year, it is $1.66 on revenues of $619.1 million [7] - The estimate revisions trend for Seacoast Banking was favorable ahead of the earnings release, resulting in a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Banks - Southeast industry, to which Seacoast Banking belongs, is currently ranked in the top 19% of over 250 Zacks industries, suggesting a favorable outlook for stocks within this sector [8]

Financial Performance - Net income for Q3 2025 was $36.5 million, or $0.42 per diluted share, a 19% increase year-over-year[5] - Adjusted net income for Q3 2025 was $45.2 million, or $0.52 per diluted share, representing a 48% increase from the prior year quarter[5] - Net income for Q3'25 was $36,467 thousand, a decrease of 14.25% from $42,687 thousand in Q2'25[22] - Adjusted net income for Q3'25 was $45,164 thousand, slightly up from $44,466 thousand in Q2'25, indicating a growth of 1.57%[22] - Net income for Q3 2025 was $36,467,000, a decrease of 14.3% from Q2 2025's $42,687,000[40] - Earnings per diluted share for Q3 2025 was $0.42, down from $0.50 in Q2 2025, representing a decline of 16%[40] Revenue and Income Growth - Net interest income totaled $133.5 million in Q3 2025, a 25% increase compared to Q3 2024[10] - Net interest income for Q3'25 was $133,906, up 5.0% from $127,295 in Q2'25 and up 25.2% from $106,975 in Q3'24[32] - Total noninterest income for Q3'25 was $23,818, a decrease from $24,521 in Q2'25 but an increase from $22,180 in Q3'24[33] - Total noninterest income for Q3 2025 was $23,818,000, slightly down from $24,521,000 in Q2 2025[40] Asset and Deposit Growth - Total assets reached $16.7 billion and total shareholders' equity was $2.4 billion as of September 30, 2025, with a book value per share of $27.07, up from $26.43 in the prior quarter[15] - Total deposits were $13.1 billion, an increase of $592.7 million, or 19% annualized, compared to the prior quarter, including $705.2 million from the Heartland acquisition[18] - Total deposits rose to $13,090,319 thousand in Q3'25, compared to $12,497,598 thousand in Q2'25, marking an increase of 4.73%[22] - Total customer funding reached $13,137,005 thousand, an increase from $12,168,385 thousand in the prior quarter, reflecting a growth of 7.95%[38] Loan Growth - Organic deposit growth was 7% annualized, while organic loan growth was 8% annualized[5] - Loans increased by $355.3 million, or 13% annualized, totaling $11.0 billion as of September 30, 2025, with an annualized organic loan growth of 8% excluding the Heartland acquisition[15] - Total loans reached $10,964,173 thousand in Q3'25, an increase of 3.4% from $10,608,824 thousand in the prior quarter[35] Efficiency and Expenses - Noninterest expense was $102.0 million in Q3 2025, an increase of 20% compared to the prior year quarter[12] - The efficiency ratio was 60.66% in Q3 2025, compared to 56.95% in Q2 2025, while the adjusted efficiency ratio improved to 53.84%[15] - Total noninterest expense for Q3 2025 was $101,987,000, an increase of 11.5% from $91,730,000 in Q2 2025[40] Capital and Regulatory Ratios - Tangible common equity to tangible assets ratio rose to 9.76%, with a Tier 1 capital ratio of 14.5% as of September 30, 2025[4] - The Company had a Tier 1 capital ratio of 14.5% as of September 30, 2025, remaining well capitalized according to U.S. regulatory requirements[21] Asset Quality - Nonperforming loans decreased to $60.6 million, or 0.55% of total loans, down from $64.2 million in the prior quarter[18] - The allowance for credit losses stood at $147,453 thousand, up from $142,184 thousand in the previous quarter, indicating a proactive approach to credit risk management[35] - Nonperforming assets to total assets ratio improved to 0.39% from 0.44% in the previous quarter, suggesting better overall asset performance[35] Mergers and Acquisitions - The company completed the acquisition of Heartland Bancshares, adding approximately $153.3 million in loans and $705.2 million in deposits[7] - The acquisition of Villages Bancorporation added 19 branches and approximately $4 billion in assets, enhancing growth potential[8] - Seacoast Banking Corporation of Florida plans to integrate 19 recently acquired branches under the name Citizens First Bank by 2026[24] Future Outlook and Events - The company will host a conference call on October 28, 2025, to discuss Q3'25 earnings results and business trends[23] - The company emphasizes the use of non-GAAP financial measures to provide a clearer understanding of its performance and trends[39] - Management believes that non-GAAP measures enhance investors' understanding of the company's business and performance[39]

Core Insights - Seacoast Banking Corporation of Florida reported a net income of $36.5 million for Q3 2025, a decrease from $42.7 million in Q2 2025 and an increase from $30.7 million in Q3 2024 [1] Financial Performance - Net income for the nine months ended September 30, 2025, was $110.6 million, or $1.28 per diluted share, compared to $8 million for the same period in 2024 [1]