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Core Viewpoint - Seacoast Banking Corporation of Florida has renewed its share repurchase program, allowing for the repurchase of up to $150 million of its common stock, extending the program's expiration to December 31, 2026 [1] Summary by Relevant Sections - **Share Repurchase Program** - The Board of Directors has renewed the share repurchase program, which was originally set to expire on December 31, 2025 [1] - The renewed program allows for the repurchase of up to $150 million in common stock, representing an increase over the previous repurchase limit [1] - The new expiration date for the program is December 31, 2026 [1]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Seacoast Banking (SBCF) - Seacoast Banking currently holds a Momentum Style Score of A, indicating strong momentum characteristics [2] - The company has a Zacks Rank of 2 (Buy), suggesting it is positioned for potential outperformance [3] Price Performance - Over the past week, SBCF shares increased by 0.74%, while the Zacks Banks - Southeast industry rose by 3.62% [5] - In a longer timeframe, SBCF's monthly price change is 8.67%, compared to the industry's 10.41% [5] - Over the past quarter, SBCF shares have risen by 4.75%, and by 19.93% over the last year, outperforming the S&P 500's gains of 2.44% and 16.74%, respectively [6] Trading Volume - SBCF's average 20-day trading volume is 671,292 shares, which serves as a baseline for price-to-volume analysis [7] Earnings Outlook - In the past two months, two earnings estimates for SBCF have been revised upwards, increasing the consensus estimate from $1.64 to $1.85 [9] - For the next fiscal year, one estimate has moved upwards with no downward revisions [9] Conclusion - Considering the strong momentum indicators and positive earnings outlook, SBCF is identified as a 2 (Buy) stock with a Momentum Score of A, making it a promising investment option [11]

Core Insights - Quavo, Inc. has partnered with Seacoast Bank to enhance dispute management solutions, aiming to streamline operations, protect against fraud, and improve customer experience [1][2][3] Company Overview - Quavo is a leading technology partner for financial institutions, focusing on automating the dispute lifecycle and enhancing customer trust through faster resolutions [4] - Seacoast National Bank is one of Florida's largest community banks, with approximately $16.7 billion in assets and $13.1 billion in deposits as of September 30, 2025 [5] Partnership Details - The collaboration will utilize Quavo's QFD® platform, which automates the entire dispute process from intake to resolution, leveraging agentic AI trained on millions of cases to detect and prevent fraud [3][4] - Seacoast Bank aims to improve compliance with Regulation E, reduce fraud losses, and scale operations efficiently through this partnership [2][6] Strategic Goals - The partnership is designed to help Seacoast Bank resolve disputes more quickly and transparently, ultimately enhancing the overall customer experience [3][4] - Seacoast Bank's recognition as a 2025 Inc. Magazine Best Workplace highlights its commitment to innovation and employee excellence [3]

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]

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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]