EX-99.1 2 sbcf2q2026earningsrelease.htm EX-99.1 SBCF 2Q 2026 Earnings Release
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SEACOAST REPORTS SECOND QUARTER 2026 RESULTS
Strong Organic Loan Growth with Expanding Pipeline
Well-Positioned Balance Sheet with Robust Capital and Liquidity

STUART, Fla., July 28, 2026 /BUSINESS WIRE/ -- Seacoast Banking Corporation of Florida ("Seacoast" or the "Company") (NASDAQ: SBCF) today reported unaudited results of operations and other financial information for the second quarter of 2026.
Second Quarter 2026 Highlights
•Net income of $59.5 million, or $0.55 per share, increased 87% from the prior quarter and 39% from the prior year quarter. Adjusted net income1 was $65.8 million, or $0.61 per share.
•Adjusted pre-tax pre-provision earnings1 increased 4% from the prior quarter and 52% from the prior year quarter.
•16% annualized organic loan growth.
•Total deposits increased 4% on an annualized basis, including a 4% annualized increase in noninterest-bearing deposits.
•Cost of deposits declined to 1.53%.
•Net interest income grew 2% from the prior quarter and 42% from the prior year quarter.
•Net interest margin was stable at 3.83% and, excluding accretion on acquired loans, expanded eight basis points from the prior quarter to 3.65%.
•Revenue growth continued to outpace expense, resulting in improved operating leverage and an improved efficiency ratio.
•Repurchased 751,680 shares of common stock during the quarter, and 1,072,443 shares of common stock year to date.

Charles M. Shaffer, Seacoast's Chairman and CEO, said, "Seacoast delivered another quarter of strong financial performance, reflecting the strength of our franchise, the resilience of our markets, and the disciplined execution of our associates across the organization. In early July, we successfully completed the conversion of customers from Citizens First Bank to Seacoast's platforms, marking the culmination of one of the most significant and complex integrations in our company's history. I could not be more proud of our team for delivering an exceptionally smooth client experience while executing a highly complex technical conversion. Their preparation, commitment, and relentless focus on excellence ensured a seamless transition for customers and demonstrated the extraordinary talent and capabilities that exist throughout Seacoast.

Shaffer continued, “The Villages® remains one of the most attractive growth markets in Florida, supported by exceptional demographics, continued economic expansion, and significant opportunities to deepen customer relationships. This acquisition has strengthened our position in this premier market, expanded our franchise, enhanced our earnings profile, and improved our ability to generate sustainable long-term growth. Just as importantly, we have welcomed team members and customers that share our commitment to community banking, exceptional service, and local decision-making.

“Beyond the successful completion of the conversion, we delivered another strong quarter, supported by healthy loan and demand deposit growth, diversified revenue streams, and disciplined execution across the organization. Our balance sheet remains exceptionally strong, underpinned by industry-leading capital levels, substantial liquidity, and excellent asset quality. These strengths provide the flexibility to continue to invest in our franchise, support our clients, and capitalize on opportunities across our footprint while maintaining a prudent risk posture.

Shaffer concluded, “As Seacoast celebrates its 100th year, we remain optimistic about the future. The markets we serve continue to benefit from favorable population growth, strong economic fundamentals, and attractive long-term growth trends. With the successful integration of our recent acquisitions now complete, an outstanding team in place, and a strong balance sheet supporting future growth, we enter the second half of 2026 with considerable momentum and confidence in our ability to create sustained value for our shareholders, customers, associates, and communities.”



1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and for a reconciliation to GAAP.
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Financial Results
Income Statement
•Net income in the second quarter of 2026 was $59.5 million, or $0.55 per diluted share, compared to $31.9 million, or $0.29 per diluted share, in the prior quarter and $42.7 million, or $0.50 per diluted share, in the prior year quarter. Adjusted net income1 for the second quarter of 2026 was $65.8 million, or $0.61 per diluted share, compared to $67.8 million, or $0.62 per diluted share, for the prior quarter, and $44.5 million, or $0.52 per diluted share, for the prior year quarter. For the six months ended June 30, 2026, net income was $91.4 million and adjusted net income1 was $133.6 million, compared to $74.2 million and $76.6 million, respectively, in the prior year period.
•Net revenues were $208.2 million in the second quarter of 2026, an increase of $44.3 million, or 27%, compared to the prior quarter, and an increase of $56.8 million, or 38%, compared to the prior year quarter. The first quarter of 2026 included a $39.5 million loss from a strategic repositioning of the securities portfolio. Growth compared to the prior year quarter reflects the expansion of the franchise, including from bank acquisitions in 2025. Adjusted net revenues1 were $210.0 million in the second quarter of 2026, an increase of $4.9 million, or 2%, compared to the prior quarter, and an increase of $58.2 million, or 38%, compared to the prior year quarter. For the six months ended June 30, 2026 and 2025, net revenues were $372.0 million and $292.1 million, respectively.
•Pre-tax pre-provision earnings1 were $87.0 million in the second quarter of 2026, an increase of $43.4 million, or 100%, compared to the prior quarter, and an increase of $26.7 million, or 44%, compared to the second quarter of 2025. Adjusted pre-tax pre-provision earnings1 were $95.5 million in the second quarter of 2026, an increase of $3.8 million, or 4%, compared to the prior quarter, and an increase of $32.8 million, or 52%, compared to the second quarter of 2025. For the six months ended June 30, 2026, pre-tax pre-provision earnings1 was $130.5 million and adjusted pre-tax pre-provision earnings1 was $187.1 million, compared to $110.8 million and $114.3 million, respectively, in the prior year period.
•Net interest income totaled $180.4 million in the second quarter of 2026, an increase of $3.9 million, or 2%, compared to the prior quarter, and an increase of $53.5 million, or 42%, compared to the second quarter of 2025. The increase compared to the prior quarter represents higher yields on the securities portfolio and loan growth. Securities income increased $2.5 million, or 4%, from the prior quarter, benefiting from higher balances and the full quarter impact of the securities repositioning executed in the first quarter of 2026. Interest income on loans increased compared to the prior quarter by $2.4 million, or 1%, despite lower purchase accounting accretion, due to higher average loan balances and higher core loan yields. Accretion on acquired loans was $8.9 million in the second quarter of 2026 compared to $12.1 million in the first quarter of 2026. Interest expense on deposits increased $0.7 million, or 1%, compared to the prior quarter.
•Net interest margin was stable at 3.83% in the second quarter of 2026 compared to the first quarter of 2026, and increased 25 basis points compared to 3.58% in the second quarter of 2025. Excluding the effects of accretion on acquired loans, net interest margin expanded eight basis points to 3.65% in the second quarter of 2026 compared to 3.57% in the first quarter of 2026, and increased 36 basis points compared to 3.29% in the second quarter of 2025. The expansion in core net interest margin was driven by higher securities and loan yields and lower funding costs. Loan yields were 5.88%, a decline of eight basis points from the prior quarter, and a decline of 10 basis points from the prior year quarter. Yield on loans excluding accretion on acquired loans was 5.61%, an increase of four basis points from the prior quarter, and an increase of three basis points from the prior year quarter. Securities yields increased to 4.47%, up 10 basis points from the prior quarter and up 60 basis points from the prior year quarter. The cost of deposits declined one basis point to 1.53% in the second quarter of 2026 compared to 1.54% in the prior quarter, and declined 27 basis points compared to 1.80% in the second quarter of 2025. The cost of funds declined two basis points to 1.69% compared to the prior quarter, and declined 30 basis points compared to the prior year quarter.
•The Company recorded a provision for credit losses of $9.0 million in the second quarter of 2026, reflecting record loan growth and low, stable charge-offs of $3.2 million. Allowance coverage of 1.38% at June 30, 2026 was lower by one basis point compared to March 31, 2026.
•Noninterest income totaled $27.8 million in the second quarter of 2026, an increase of $40.4 million compared to the prior quarter. A strategic repositioning of the securities portfolio resulted in a $39.5 million loss in the first quarter of 2026. Excluding securities activity, adjusted noninterest income1 of $27.8 million increased $0.9 million, or 3%, compared to the prior quarter, and increased $3.4 million, or 14%, from the prior year quarter. For the six months ended June 30, 2026, adjusted noninterest income1 increased $8.3 million, or 18%, from the prior year period to $54.8 million. Results in the second quarter of 2026 included:
•Service charges on deposits totaled $7.0 million, an increase of $0.1 million, or 2%, from the prior quarter and an increase of $1.5 million, or 27%, from the prior year quarter.
1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and for a reconciliation to GAAP.
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•Wealth management income totaled $6.0 million, an increase of $0.2 million, or 3%, from the prior quarter and an increase of $1.8 million, or 42%, from the prior year quarter. The wealth management division has continued to deliver significant growth, driven by robust organic business development, strong client retention, and continued asset inflows from existing relationships, and has added $388 million in new organic assets under management in the first half of 2026. Assets under management have grown 45% year-over-year to $3.2 billion.
•Mortgage banking income totaled $2.7 million, an increase of $0.6 million, or 27%, from the prior quarter and an increase of $2.1 million, or 301%, from the prior year quarter, with higher saleable production including the addition of mortgage originations in The Villages communities.
•Insurance agency income totaled $1.3 million, a decrease of $0.5 million, or 25%, from the prior quarter and an increase of $47 thousand, or 4%, from the prior year quarter. The first quarter of 2026 included typical seasonal contingency payments, which are collected annually.
•Other income totaled $6.0 million, an increase of $0.5 million, or 8%, compared to the prior quarter and a decrease of $1.5 million, or 19%, from the prior year quarter. Compared to the prior quarter, the second quarter of 2026 included higher fees on customer swap activity, partially offset by lower SBIC income. In the prior year quarter, the Company recognized $3.0 million in tax refunds related to a prior bank acquisition.
•Noninterest expense was $123.1 million in the second quarter of 2026, an increase of $0.9 million, or 1%, compared to the prior quarter, and an increase of $31.4 million, or 34%, compared to the prior year quarter. In the second quarter of 2026, merger and integration costs totaled $8.4 million, compared to $8.5 million in the prior quarter and $2.4 million in the prior year quarter. Results in the second quarter of 2026 are discussed below. Year-over-year increases reflect continued expansion of the footprint and growth in customers, including through bank acquisitions.
•Salaries and employee benefits totaled $63.1 million, an increase of $0.5 million, or 1%, from the prior quarter and an increase of $10.6 million, or 20%, from the prior year quarter.
•Outsourced data processing costs totaled $12.2 million, an increase of $0.2 million, or 2%, from the prior quarter and an increase of $3.7 million, or 44%, from the prior year quarter.
•Occupancy costs totaled $9.6 million, an increase of $0.4 million, or 4%, compared to the prior quarter and an increase of $2.1 million, or 28%, from the prior year quarter.
•Legal and professional fees totaled $2.5 million, a decrease of $0.7 million, or 22%, compared to the prior quarter and an increase of $0.4 million, or 20%, from the prior year quarter. The changes are largely associated with the timing of various projects.
•Amortization of intangibles totaled $10.0 million, a decrease of $0.1 million, or 1%, from the prior quarter and an increase of $4.8 million, or 94%, from the prior year quarter.
•Other expense totaled $8.0 million, an increase of $1.2 million, or 18%, compared to the prior quarter and an increase of $1.8 million, or 30%, from the prior year quarter.
•The efficiency ratio improved to 58.52% in the second quarter of 2026, compared to 59.47% in the first quarter of 2026 and 60.33% in the second quarter of 2025. The adjusted efficiency ratio1 improved to 54.54% in the second quarter of 2026, compared to 55.31% in the first quarter of 2026 and 58.74% in the prior year quarter. The Company remains keenly focused on disciplined expense control, while making investments for growth.
Balance Sheet
•At June 30, 2026, the Company had total assets of $21.4 billion and total shareholders’ equity of $2.7 billion. Book value per common share was $28.20 as of June 30, 2026, compared to $27.83 as of March 31, 2026, and $26.43 as of June 30, 2025. Tangible book value per share, treating all convertible preferred shares as common was $17.25 as of June 30, 2026, compared to $16.90 as of March 31, 2026, and $17.19 as of June 30, 2025.
•Debt securities totaled $5.7 billion as of June 30, 2026, an increase of $93.3 million compared to March 31, 2026. Debt securities as of June 30, 2026 included approximately $5.2 billion in securities classified as available-for-sale and recorded at fair value. The unrealized loss on these securities is fully reflected in the value presented on the balance sheet. The portfolio also includes $564.1 million in securities classified as held-to-maturity with a fair value of $465.7 million.
•Continued strong loan origination volume and lower payoffs than the first quarter resulted in an overall increase in loan balances of $504.0 million, or 16% annualized, during the second quarter of 2026. Seacoast continues to benefit from the investments made in recent years to attract talent from large regional and national banks across its markets.
1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and for a reconciliation to GAAP.
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•The outlook for continued consistent growth is strong, with loan pipelines totaling $1.5 billion as of June 30, 2026, compared to $1.2 billion at March 31, 2026 and $920.9 million at June 30, 2025.
•Commercial pipelines totaled $1.3 billion as of June 30, 2026, representing an increase of $246.2 million, or 24%, from the prior quarter and an increase of $430.0 million, or 50%, from the prior year quarter.
•Residential pipelines were $168.5 million as of June 30, 2026, compared to $169.2 million as of March 31, 2026 and $43.5 million as of June 30, 2025.
•Total deposits were $16.8 billion as of June 30, 2026, an increase of $154.3 million or 3.7% annualized, when compared to March 31, 2026.
•Noninterest-bearing demand deposits increased 4% on an annualized basis during the second quarter of 2026 to $4.2 billion at June 30, 2026.
•The cost of deposits declined one basis point to 1.53% from 1.54% in the prior quarter.
•At June 30, 2026, customer transaction account balances represented 48% of total deposits. The Company benefits from a granular deposit franchise, with the top ten depositors representing approximately 2% of total customer deposits.
•Consumer deposits represent 48% of overall customer deposit funding with an average consumer customer balance of $24 thousand. Commercial deposits represent 52% of overall customer deposit funding with an average business customer balance of $121 thousand.
•Brokered deposits were utilized as a temporary funding source to offset typical seasonal lows in core deposit balances. Brokered deposits totaled $611.6 million as of June 30, 2026, compared to $209.3 million as of March 31, 2026 and $515.3 million as of June 30, 2025.
•Uninsured deposits represented only 36% of overall deposit balances as of June 30, 2026. This includes public funds under the Florida Qualified Public Depository program, which provides loss protection to depositors beyond FDIC insurance limits. Excluding such balances, the uninsured and uncollateralized deposits were 32% of total deposits. The Company has liquidity sources including cash and lines of credit with the Federal Reserve and Federal Home Loan Bank that represent 158% of uninsured deposits, and 181% of uninsured and uncollateralized deposits.
•Federal Home Loan Bank borrowings averaged $915.0 million at 3.77% for the second quarter of 2026, compared to average borrowings of $847.2 million at 4.03% in the first quarter of 2026 and $724.2 million at 4.32% in the second quarter of 2025.
Asset Quality
•The ratio of criticized and classified loans to total loans was 2.88% at June 30, 2026, 2.82% at March 31, 2026, and 2.39% at June 30, 2025.
•Nonperforming loans were $86.5 million, or 0.66% of total loans, at June 30, 2026, a decrease of $8.5 million, or 9%, from $95.0 million, or 0.75% of total loans, as of March 31, 2026.
•Accruing past due loans were $20.1 million, or 0.15% of total loans, at June 30, 2026, compared to $28.2 million, or 0.22% of total loans, at March 31, 2026, and $14.2 million, or 0.13% of total loans, at June 30, 2025.
•Net charge-offs were $3.2 million in the second quarter of 2026, compared to $3.3 million in the first quarter of 2026 and $2.5 million in the second quarter of 2025. Net charge-offs for the four most recent quarters averaged 0.09% of total loans.
•The ratio of ACL to total loans was 1.38% at June 30, 2026, a decline of one basis point, compared to 1.39% at March 31, 2026, and 1.34% at June 30, 2025.
•Portfolio diversification, in terms of asset mix, industry, and loan type, has been a critical element of the Company's lending strategy. Exposure across industries and collateral types is broadly distributed.
•Construction and land development and commercial real estate loans remain well below regulatory guidance as of June 30, 2026 at 40% and 230% of total bank-level risk-based capital2, respectively, compared to 35% and 224%, respectively, at March 31, 2026. On a consolidated basis and as of June 30, 2026, construction and land development and commercial real estate loans represent 37% and 216%, respectively, of total consolidated risk-based capital2.
1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and for a reconciliation to GAAP.
2Estimated
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Capital and Liquidity
•The Company continues to operate with a fortress balance sheet, with a Tier 1 capital ratio at June 30, 2026 of 14.3%2 compared to 14.6% at both March 31, 2026 and June 30, 2025. The Total capital ratio was 15.7%2, the Common Equity Tier 1 capital ratio was 11.5%2, and the Tier 1 leverage ratio was 10.4%2 at June 30, 2026. The Company is considered “well capitalized” based on applicable U.S. regulatory capital ratio requirements.
•Tangible equity to tangible assets3 was 9.25% at June 30, 2026, compared to 9.24% at March 31, 2026, and 9.75% at June 30, 2025. If all held-to-maturity securities were adjusted to fair value, the tangible equity ratio would have been 8.92% at June 30, 2026.
•During the second quarter of 2026, the Company repurchased over 750,000 shares of its common stock under its share repurchase program. Year to date under the program, the Company has taken opportunities to leverage its strong capital position by repurchasing over 1 million shares of its common stock.
•At June 30, 2026, in addition to $429.9 million in cash, the Company had $9.2 billion in available borrowing capacity, including $5.0 billion in available collateralized lines of credit, $3.8 billion of unpledged debt securities available as collateral for potential additional borrowings, and available unsecured lines of credit of $348.0 million. These liquidity sources as of June 30, 2026, represented 181% of uninsured and uncollateralized deposits.
1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and for a reconciliation to GAAP.
2Estimated
3The Company defines tangible assets as total assets less intangible assets and tangible equity as total shareholders' equity plus convertible preferred stock less intangible assets.
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OTHER INFORMATION
Conference Call Information
Seacoast will host a conference call on July 29, 2026, at 10:00 a.m. (Eastern Time) to discuss the second quarter of 2026 earnings results and business trends. Investors may call in (toll-free) by dialing (800) 715-9871 (Conference ID: 3366993). Charts will be used during the conference call and may be accessed at Seacoast’s website at www.SeacoastBanking.com by selecting “Presentations” under the heading “News/Events.” Additionally, a recording of the call will be made available to individuals shortly after the conference call and can be accessed via a link at www.SeacoastBanking.com under the heading “Corporate Information.” The recording will be available for one year.

About Seacoast Banking Corporation of Florida (NASDAQ: SBCF)
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) is one of the largest community banks headquartered in Florida with approximately $21.4 billion in assets and $16.8 billion in deposits as of June 30, 2026. Seacoast provides integrated financial services including commercial and consumer banking, wealth management, and mortgage and insurance services to customers at 105 full-service branches across Florida and Georgia, and through advanced mobile and online banking solutions. Seacoast National Bank is the wholly-owned subsidiary bank of Seacoast Banking Corporation of Florida. For more information about Seacoast, visit www.SeacoastBanking.com.

Cautionary Notice Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning, and protections, of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements about future financial and operating results, cost savings, enhanced revenues, economic and seasonal conditions in the Company’s markets, and improvements or impacts to reported earnings that may be realized from cost controls, tax law changes, conversion of preferred shares into common shares, new initiatives and for integration of banks (including Villages Bancorporation, Inc.) that the Company has acquired, or expects to acquire, as well as statements with respect to Seacoast's objectives, strategic plans, expectations and intentions and other statements that are not historical facts. Actual results may differ from those set forth in the forward-looking statements.
Forward-looking statements include statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates and intentions about future performance and involve known and unknown risks, uncertainties and other factors, which may be beyond the Company’s control, and which may cause the actual results, performance or achievements of Seacoast Banking Corporation of Florida (“Seacoast” or the “Company”) or its wholly-owned banking subsidiary, Seacoast National Bank (“Seacoast Bank”), to be materially different from results, performance or achievements expressed or implied by such forward-looking statements. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
All statements other than statements of historical fact could be forward-looking statements. You can identify these forward-looking statements through the use of words such as "may", "will", "anticipate", "assume", "should", "support", "indicate", "would", "believe", "contemplate", "expect", "estimate", "continue", "further", "plan", "point to", "project", "could", "intend", "target" or other similar words and expressions of the future. Forward-looking statements also include statements relating to expectations regarding net interest income, net interest margin, loan growth, deposit growth and mix, credit quality, noninterest income and expense, capital levels and liquidity. These forward-looking statements may not be realized due to a variety of factors, including, without limitation: the impact of current and future economic and market conditions generally (including seasonality) and in the financial services industry, nationally and within Seacoast’s primary market areas, including the effects of continued inflationary pressures, changes in interest rates, tariffs or trade wars (including reduced consumer spending), slowdowns in economic growth, and the potential for high unemployment rates, as well as the financial stress on borrowers and changes to customer and client behavior and credit risk as a result of the foregoing; potential impacts of adverse developments in the banking industry, or as encountered by other financial institutions that adversely affect Seacoast, and including impacts on customer confidence, deposit outflows, liquidity and the regulatory response thereto (including increases in the cost of our deposit insurance assessments), the Company's ability to effectively manage its liquidity risk and any growth plans, and the availability of capital and funding; governmental monetary and fiscal policies, including interest rate policies of the Board of Governors of the Federal Reserve, as well as risks related to legislative, tax and regulatory changes, including those that impact the money supply and inflation; the risks of continued changes in interest rates on the level and composition of deposits (as well as the cost of, and competition for, deposits), loan demand, liquidity and the values of loan collateral, securities, and interest rate sensitive assets and liabilities; interest rate risks (including the impacts of interest rates on macroeconomic conditions, and on our net interest
    
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income), sensitivities and the shape of the yield curve; changes in accounting policies, rules and practices; changes in retail distribution strategies, customer preferences and behavior generally and as a result of economic factors, including heightened or persistent inflation; changes in borrower credit risks and payment behaviors, and changes in the availability and cost of credit and capital in the financial markets; changes in the prices, values and sales volumes of residential and commercial real estate, especially as they relate to the value of collateral supporting the Company’s loans; the Company’s concentration in commercial real estate loans and in real estate collateral in Florida; Seacoast’s ability to comply with any regulatory requirements and the risk that the regulatory environment may not be conducive to or may prohibit or delay the consummation of future mergers and/or business combinations, may increase the length of time and amount of resources required to consummate such transactions, and may reduce the anticipated benefit; inaccuracies or other failures from the use of models, including the failure of assumptions and estimates (including with respect to our financial statements), as well as differences in, and changes to, economic, market and credit conditions; the impact on the valuation of Seacoast’s investments due to market volatility or counterparty payment risk, as well as the effect of a decline in stock market prices on our fee income from our wealth management business; statutory and regulatory dividend restrictions; increases in regulatory capital requirements for banking organizations generally; the risks of mergers, acquisitions and divestitures, including Seacoast’s ability to continue to identify acquisition targets, successfully acquire and integrate desirable financial institutions and realize expected revenues and revenue synergies, and limit deposit, customer and employee attrition; changes in technology or products that may be more difficult, costly, or less effective than anticipated; the timely development and acceptance of new products and services as well as risks (including reputational and litigation) attendant thereto, and perceived overall value of these products and services by users; risks associated with the development and use of artificial intelligence; the Company’s ability to identify and address increased cybersecurity risks, including those impacting vendors and other third parties which may be exacerbated by developments in generative artificial intelligence; fraud or misconduct by internal or external parties, which Seacoast may not be able to prevent, detect or mitigate; inability of Seacoast’s risk management framework to manage risks associated with the Company’s business; dependence on key suppliers or vendors to obtain equipment or services for the business on acceptable terms; reduction in or the termination of Seacoast’s ability to use the online- or mobile-based platform that is critical to the Company’s business growth strategy; the effects of war or other conflicts, regime change, civil unrest, acts of terrorism, natural disasters, including hurricanes in the Company’s footprint, health emergencies, epidemics or pandemics, or other catastrophic events that may affect general economic conditions and/or increase costs, including, but not limited to, property and casualty and other insurance costs; Seacoast’s ability to maintain adequate internal controls over financial reporting; potential or actual claims, damages, penalties, fines, costs, unexpected outcomes and reputational damage resulting from new, existing, pending or future litigation, regulatory proceedings and enforcement actions; the risks that deferred tax assets could be reduced if estimates of future taxable income from the Company’s operations and tax planning strategies are less than currently estimated, the results of tax audit findings, challenges to our tax positions, or adverse changes or interpretations of tax laws; the effects of competition (including the inability to grow, or attrition of deposits, customers, and employees) from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, non-bank financial technology providers, securities brokerage firms, insurance companies, private credit funds, money market and other mutual funds and other financial institutions; the failure of assumptions underlying the establishment of reserves for expected credit losses; impairment of our goodwill or other intangible assets, risks related to, and the costs associated with, environmental, social and governance matters (“ESG”) and anti-ESG matters, including the scope and pace of related rulemaking activity and disclosure requirements and potential litigation and enforcement; legislative, regulatory or supervisory actions related to so-called “de-banking,” including any new prohibitions, requirements or enforcement priorities that could affect customer relationships, compliance obligations, or operational practices; government actions or inactions, including a deterioration of the credit rating for U.S. long-term sovereign debt, actions that the U.S. government may take to avoid exceeding the debt ceiling, and uncertainties surrounding the federal budget and economic policy, including the impact of tariffs and trade policies; the risk that balance sheet, revenue growth, and loan growth expectations may differ from actual results; and other factors and risks described herein and under “Risk Factors” in any of the Company's subsequent reports filed with the SEC and available on its website at www.sec.gov.
All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in the Company’s annual report on Form 10-K for the year ended December 31, 2025 and in other periodic reports that the Company files with the SEC. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at www.sec.gov.




FINANCIAL HIGHLIGHTS(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
Quarterly TrendsSix months ended
(Amounts in thousands, except ratios and per share data)2Q'261Q'264Q'253Q'252Q'252Q'262Q'25
Summary of Earnings
Net income$59,535 $31,895 $34,260 $36,467 $42,687 $91,430 $74,151 
Adjusted net income1
65,819 67,777 47,741 45,164 44,466 133,596 76,568 
Net interest income2
182,150 178,154 176,244 133,906 127,295 360,304 246,153 
Net interest margin2,3
3.83 %3.83 %3.66 %3.57 %3.58 %3.83 %3.53 %
Pre-tax pre-provision earnings1
$86,968 $43,519 $75,141 $55,887 $60,236 $130,487 $110,827 
Adjusted pre-tax pre-provision earnings1
95,470 91,646 93,170 67,190 62,627 187,116 114,314 
Performance Ratios
Return on average assets-GAAP basis3
1.13 %0.62 %0.64 %0.88 %1.08 %0.88 %0.96 %
Adjusted return on average assets1,3
1.25 1.31 0.89 1.09 1.13 1.28 0.99 
Return on average tangible assets-GAAP basis3,4
1.35 0.81 0.83 1.04 1.24 1.08 1.12 
Adjusted return on average tangible assets1,3,4
1.48 1.55 1.10 1.26 1.29 1.51 1.15 
Net adjusted noninterest expense to average tangible assets1,3,4
2.11 2.13 2.01 2.16 2.25 2.12 2.29 
Return on average equity-GAAP basis3
8.74 4.69 4.99 6.17 7.60 6.71 6.69 
Adjusted return on average equity1,3
9.66 9.96 6.95 7.64 7.92 9.81 6.91 
Return on average tangible equity-GAAP basis3,4
14.44 8.51 9.05 10.70 12.82 11.48 11.52 
Adjusted return on average tangible equity1,3,4
15.79 16.26 11.96 12.98 13.31 16.03 11.86 
Efficiency ratio5
58.52 59.47 63.36 64.44 60.33 58.99 62.12 
Adjusted efficiency ratio1
54.54 55.31 54.50 57.63 58.74 54.92 60.93 
Noninterest income to total revenue (excluding securities gains/losses)13.37 13.23 14.05 15.59 16.18 13.30 15.92 
Tangible equity to tangible assets4
9.25 9.24 9.31 9.76 9.75 9.25 9.75 
Tangible common equity to tangible assets4
7.55 7.52 7.56 9.76 9.75 7.55 7.52 
Average loan-to-deposit ratio77.89 77.58 73.60 82.99 85.21 77.74 84.72 
End of period loan-to-deposit ratio78.39 76.09 77.78 83.84 84.96 78.39 84.96 
Per Share Data
Earnings per common share-diluted-GAAP basis$0.55 $0.29 $0.31 $0.42 $0.50 $0.84 $0.87 
Earnings per common share-basic-GAAP basis0.55 0.30 0.32 0.42 0.50 0.85 0.87 
Adjusted earnings per common share-diluted1
0.61 0.62 0.44 0.52 0.52 1.23 0.90 
Book value per common share28.20 27.83 27.70 27.07 26.43 28.20 26.43 
Book value per share, treating all convertible preferred shares as common6
28.44 28.10 27.99 27.07 26.43 28.44 26.43 
Tangible book value per common share15.71 15.33 15.14 17.61 17.19 15.71 17.19 
Tangible book value per share, treating all convertible preferred shares as common4,6
17.25 16.90 16.72 17.61 17.19 17.25 17.19 
Cash dividends declared on common and preferred stock7
0.19 0.19 0.19 0.18 0.18 0.38 0.36 
Other Data
Full-time equivalent employees1,964 1,949 1,962 1,601 1,522 1,964 1,522 
Number of ATMs192 192 191 103 98 192 98 
Full-service banking offices105 104 104 84 79 105 79 
1Non-GAAP measure - see "Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP.
2Calculated on a fully taxable equivalent basis using amortized cost.
3These ratios are stated on an annualized basis and are not necessarily indicative of future periods.
4The Company defines tangible assets as total assets less intangible assets, tangible equity as total shareholders' equity plus convertible preferred stock less intangible assets, and tangible equity as total shareholders' equity less intangible assets.
5Defined as noninterest expense less provision for credit losses on unfunded commitments and gains, losses, and expenses on foreclosed properties divided by net operating revenue (net interest income on a fully taxable equivalent basis plus noninterest income excluding securities gains and losses). Prior to the fourth quarter of 2025, the Company's presentation of the efficiency ratio excluded amortization expense on intangible assets. Prior periods have been updated to align with the current presentation.
6Calculated treating all convertible preferred shares as common. Each 1/1000th preferred share is convertible to one common share on the date a holder of preferred stock transfers such share of preferred stock to a non-affiliate of the holder. The Company believes a calculation presenting all convertible preferred shares as common provides useful supplemental information to the presentation of common share measures, as we anticipate they will be converted to common shares in the future.
7In the fourth quarter of 2025, non-voting convertible preferred shares were issued in connection with the VBI acquisition. Those shares earn dividends pro-rata with common shares, or $0.19 per 1/1000th preferred share.


CONSOLIDATED STATEMENTS OF INCOME(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
Quarterly TrendsSix months ended
(Amounts in thousands, except per share data)2Q'261Q'264Q'253Q'252Q'252Q'262Q'25
Interest and fees on loans$188,161 $185,731 $187,408 $161,913 $157,075 $373,892 $307,715 
Interest and dividends on securities:
Taxable59,051 56,579 53,445 35,975 32,479 115,630 61,860 
Nontaxable3,523 3,512 3,293 44 33 7,035 67 
Interest on interest-bearing deposits and other investments4,816 4,884 11,914 4,780 3,760 9,700 7,960 
Total Interest Income255,551 250,706 256,060 202,712 193,347 506,257 377,602 
Interest on deposits44,201 44,586 49,988 43,133 40,633 88,787 84,259 
Interest on time certificates18,663 17,583 20,914 16,341 15,120 36,246 30,093 
Interest on borrowed money12,292 12,067 10,531 9,770 10,730 24,359 17,869 
Total Interest Expense75,156 74,236 81,433 69,244 66,483 149,392 132,221 
Net Interest Income180,395 176,470 174,627 133,468 126,864 356,865 245,381 
Provision for credit losses8,997 761 29,260 8,371 4,379 9,758 13,629 
Net Interest Income After Provision for Credit Losses171,398 175,709 145,367 125,097 122,485 347,107 231,752 
Noninterest income (loss):
Service charges on deposit accounts7,045 6,912 6,472 6,194 5,540 13,957 10,720 
Wealth management income5,968 5,777 5,540 4,578 4,196 11,745 8,444 
Mortgage banking income2,744 2,166 3,108 517 685 4,910 1,089 
Interchange income2,093 2,067 2,483 2,008 1,895 4,160 3,702 
Insurance agency income1,336 1,790 1,191 1,481 1,289 3,126 2,909 
BOLI income2,609 2,617 2,687 3,875 3,380 5,226 5,848 
Other6,042 5,585 7,066 6,006 7,497 11,627 13,754 
Total Noninterest Income Before Securities (Losses) Gains, Net27,837 26,914 28,547 24,659 24,482 54,751 46,466 
Securities (losses) gains, net(59)(39,528)84 (841)39 (39,587)235 
Total Noninterest Income (Loss)27,778 (12,614)28,631 23,818 24,521 15,164 46,701 
Noninterest expense:
Salaries and employee benefits63,115 62,645 62,432 53,697 52,544 125,760 103,653 
Outsourced data processing costs12,242 11,995 11,257 9,337 8,525 24,237 17,029 
Occupancy9,591 9,235 9,330 7,627 7,483 18,826 14,833 
Furniture and equipment2,803 2,821 2,935 2,233 2,125 5,624 4,253 
Marketing3,525 3,467 3,149 2,509 2,958 6,992 5,706 
Legal and professional fees2,480 3,170 2,106 1,674 2,071 5,650 4,811 
FDIC assessments2,759 3,195 2,876 2,414 2,108 5,954 4,302 
Amortization of intangibles9,960 10,098 10,374 6,005 5,131 20,058 10,440 
Other real estate owned expense and net loss (gain) on sale85 63 (29)(346)8 148 249 
Provision for credit losses on unfunded commitments150 150 812 150 150 300 300 
Merger and integration costs8,358 8,536 18,142 10,808 2,422 16,894 3,473 
Other8,042 6,796 7,162 5,879 6,205 14,838 13,278 
Total Noninterest Expense123,110 122,171 130,546 101,987 91,730 245,281 182,327 
Income Before Income Taxes76,066 40,924 43,452 46,928 55,276 116,990 96,126 
Provision for income tax expense16,531 9,029 9,192 10,461 12,589 25,560 21,975 
Net Income59,535 31,895 34,260 36,467 42,687 91,430 74,151 
Preferred dividends2,138 2,138 2,138 — — 4,275 — 
Net Income Available to Common Shareholders$57,397 $29,757 $32,122 $36,467 $42,687 $87,155 $74,151 
Share Data
Net income per share of common stock
Diluted$0.55 $0.29 $0.31 $0.42 $0.50 $0.84 $0.87 
Diluted, treating all convertible preferred shares as common1
0.55 0.29 0.31 0.42 0.50 0.84 0.87 
Basic$0.55 $0.30 $0.32 $0.42 $0.50 $0.85 $0.87 
Average common shares outstanding
Diluted97,250 97,838 97,761 87,425 85,479 97,549 85,454 
Additional common shares treating all convertible preferred shares as common1
11,250 11,250 11,250 — — 11,250 — 
Diluted, treating all convertible preferred shares as common1
108,500 109,088 109,011 87,425 85,479 108,799 85,454 
Basic96,438 96,840 96,816 86,619 84,903 96,638 84,776 
1Non-GAAP measure - see "Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP.


CONSOLIDATED BALANCE SHEETS(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
June 30,March 31,December 31,September 30,June 30,
(Amounts in thousands)20262026202520252025
Assets
Cash and due from banks$191,965 $201,308 $181,429 $173,954 $181,565 
Interest-bearing deposits with other banks237,979 607,071 207,116 132,040 150,863 
Total cash and cash equivalents429,944 808,379 388,545 305,994 332,428 
Time deposits with other banks747 2,490 14,424 30,852 1,494 
Debt Securities:
Securities available-for-sale (at fair value)5,174,602 5,069,260 5,164,567 3,212,080 2,866,185 
Securities held-to-maturity (at amortized cost)564,067 576,155 586,178 598,604 613,312 
Total debt securities5,738,669 5,645,415 5,750,745 3,810,684 3,479,497 
Loans held for sale18,565 18,188 16,297 10,841 8,610 
Loans13,145,439 12,641,432 12,627,984 10,964,173 10,608,824 
Less: Allowance for credit losses(182,050)(176,252)(178,803)(147,453)(142,184)
Loans, net of allowance for credit losses12,963,389 12,465,180 12,449,181 10,816,720 10,466,640 
Bank premises and equipment, net161,008 159,368 160,139 115,392 107,256 
Goodwill1,034,997 1,034,997 1,034,735 754,645 732,417 
Other intangible assets, net174,486 184,980 195,704 76,291 61,328 
Bank owned life insurance335,783 333,174 330,563 323,214 312,860 
Net deferred tax assets64,502 62,300 66,579 74,683 87,328 
Other assets437,982 430,676 435,419 357,588 355,097 
Total Assets$21,360,072 $21,145,147 $20,842,331 $16,676,904 $15,944,955 
Liabilities
Deposits
Noninterest demand$4,216,499 $4,176,854 $3,897,985 $3,611,920 $3,376,941 
Interest-bearing demand3,870,570 4,057,493 3,993,225 2,753,463 2,518,857 
Savings972,730 979,633 974,694 615,566 557,472 
Money market5,127,372 5,205,762 5,141,519 4,396,458 4,111,789 
Time deposits2,605,124 2,218,207 2,248,920 1,712,912 1,932,539 
Total Deposits16,792,295 16,637,949 16,256,343 13,090,319 12,497,598 
Securities sold under agreements to repurchase373,095 377,460 389,003 236,247 186,090 
Federal Home Loan Bank borrowings835,000 775,000 835,000 690,000 715,000 
Long-term debt, net112,910 112,836 112,761 107,464 107,298 
Other liabilities172,842 181,127 193,437 174,742 167,404 
Total Liabilities18,286,142 18,084,372 17,786,544 14,298,772 13,673,390 
Convertible Preferred Stock343,125 343,125 343,125 — — 
Shareholders' Equity
Common stock9,878 9,878 9,873 8,864 8,673 
Additional paid in capital2,208,511 2,202,879 2,197,549 1,891,111 1,832,158 
Retained earnings653,623 614,853 603,793 590,384 569,833 
Less: Treasury stock(57,137)(31,373)(21,358)(20,804)(20,792)
Total Shareholders' Equity Before Accumulated Other Comprehensive Loss2,814,875 2,796,237 2,789,857 2,469,555 2,389,872 
Accumulated other comprehensive loss, net(84,070)(78,587)(77,195)(91,423)(118,307)
Total Shareholders' Equity2,730,805 2,717,650 2,712,662 2,378,132 2,271,565 
Total Liabilities, Convertible Preferred Stock and Shareholders' Equity $21,360,072 $21,145,147 $20,842,331 $16,676,904 $15,944,955 
Common shares outstanding96,823 97,665 97,928 87,856 85,948 
Additional common shares treating all convertible preferred shares as common1
11,250 11,250 11,250 — — 
Total common shares outstanding, treating all convertible preferred shares as common108,073 108,915 109,178 87,856 85,948 
1Each 1/1000th preferred share is convertible to one common share on the date a holder of preferred stock transfers such share of preferred stock to a non-affiliate of the holder.



CONSOLIDATED QUARTERLY FINANCIAL DATA(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
Quarterly Trends
(Amounts in thousands)2Q'261Q'264Q'253Q'252Q'25
Credit Analysis
Net charge-offs$3,199 $3,312 $936 $3,208 $2,462 
Net charge-offs to average loans0.10 %0.11 %0.03 %0.12 %0.09 %
Allowance for credit losses$182,050 $176,252 $178,803 $147,453 $142,184 
Non-acquired loans at end of period10,029,038 9,315,395 9,067,802 8,415,612 8,071,619 
Acquired loans at end of period3,116,401 3,326,037 3,560,182 2,548,561 2,537,205 
Total Loans$13,145,439 $12,641,432 $12,627,984 $10,964,173 $10,608,824 
Total allowance for credit losses to total loans at end of period1.38 %1.39 %1.42 %1.34 %1.34 %
Purchase discount on acquired loans at end of period3.98 3.99 4.04 3.86 4.10 
End of Period
Nonperforming loans$86,540 $95,032 $72,001 $60,562 $64,198 
Other real estate owned3,473 4,250 4,250 5,085 5,335 
Total Nonperforming Assets$90,013 $99,282 $76,251 $65,647 $69,533 
Nonperforming Loans to Loans at End of Period0.66 %0.75 %0.57 %0.55 %0.61 %
Nonperforming Assets to Total Assets at End of Period0.42 0.47 0.37 0.39 0.44 
LoansJune 30, 2026March 31, 2026December 31, 2025September 30, 2025June 30, 2025
Construction and land development$856,716 $745,362 $723,930 $616,475 $603,079 
Commercial real estate - owner occupied2,121,853 2,021,885 2,043,625 1,898,704 1,778,930 
Commercial real estate - non-owner occupied4,237,563 4,178,003 4,254,992 3,766,541 3,624,528 
Residential real estate3,258,274 3,162,509 3,098,859 2,694,794 2,678,042 
Commercial and financial2,477,326 2,353,118 2,320,989 1,807,932 1,741,158 
Consumer193,707 180,555 185,589 179,727 183,087 
Total Loans$13,145,439 $12,641,432 $12,627,984 $10,964,173 $10,608,824 





AVERAGE BALANCES, INTEREST INCOME AND EXPENSES, YIELDS AND RATES1
(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
2Q'261Q'262Q'25
AverageYield/AverageYield/AverageYield/
(Amounts in thousands)BalanceInterestRateBalanceInterestRateBalanceInterestRate
Assets
Earning assets:
Securities:
Taxable$5,392,894 $59,051 4.39 %$5,358,307 $56,579 4.28 %$3,364,825 $32,479 3.87 %
Nontaxable330,322 4,727 5.74 333,382 4,700 5.72 5,321 40 3.02 
Total Securities5,723,216 63,778 4.47 5,691,689 61,279 4.37 3,370,146 32,519 3.87 
Federal funds sold292,952 2,622 3.59 311,936 2,740 3.56 183,268 2,041 4.47 
Interest-bearing deposits with other banks and other investments178,126 2,194 4.94 188,891 2,144 4.60 137,726 1,720 5.01 
Total Loans, net2
12,862,053 188,712 5.88 12,671,180 186,227 5.96 10,558,997 157,499 5.98 
Total Earning Assets19,056,347 257,306 5.42 %18,863,696 252,390 5.43 %14,250,137 193,779 5.45 %
Allowance for credit losses(177,763)(179,455)(141,442)
Cash and due from banks187,161 180,639 152,562 
Bank premises and equipment, net160,756 163,528 108,206 
Intangible assets1,214,829 1,225,602 796,431 
Bank owned life insurance334,159 331,529 312,384 
Other assets including deferred tax assets350,290 339,388 322,916 
Total Assets$21,125,779 $20,924,927 $15,801,194 
Liabilities, Convertible Preferred Stock & Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing demand$3,976,446 $11,108 1.12 %$3,986,616 $11,529 1.17 %$2,622,944 $10,249 1.57 %
Savings976,058 1,300 0.53 972,525 1,260 0.53 545,718 881 0.65 
Money market5,124,668 31,793 2.49 5,176,998 31,797 2.49 4,122,147 29,505 2.87 
Time deposits2,324,117 18,663 3.22 2,181,476 17,583 3.27 1,700,128 15,120 3.57 
Securities sold under agreements to repurchase344,612 1,889 2.20 348,582 1,853 2.16 185,977 1,214 2.62 
Federal Home Loan Bank borrowings915,000 8,608 3.77 847,225 8,429 4.03 724,231 7,803 4.32 
Long-term debt, net and other112,867 1,795 6.38 112,818 1,785 6.42 107,208 1,712 6.41 
Total Interest-Bearing Liabilities13,773,768 75,156 2.19 %13,626,240 74,236 2.21 %10,008,353 66,484 2.66 %
Noninterest demand4,112,281 4,015,315 3,401,138 
Other liabilities164,252 179,591 139,495 
Total Liabilities18,050,301 17,821,146 13,548,986 
Convertible preferred stock343,125 343,125 — 
Shareholders' equity2,732,353 2,760,656 2,252,208 
Total Liabilities, Convertible Preferred Stock & Equity$21,125,779 $20,924,927 $15,801,194 
Cost of deposits1.53 %1.54 %1.80 %
Cost of funds3
1.69 1.71 1.99 
Interest expense as a % of earning assets1.58 1.60 1.87 
Net interest income as a % of earning assets$182,150 3.83 %$178,154 3.83 %$127,295 3.58 %
1On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost.
2Fees on loans have been included in interest on loans. Nonaccrual loans are included in loan balances.
3Total interest expense as a percentage of total interest-bearing liabilities and noninterest demand deposits.




AVERAGE BALANCES, INTEREST INCOME AND EXPENSES, YIELDS AND RATES1
(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
Six Months Ended June 30, 2026Six Months Ended June 30, 2025
AverageYield/AverageYield/
(Amounts in thousands, except ratios)BalanceInterestRateBalanceInterestRate
Assets
Earning assets:
Securities:
Taxable$5,375,696 $115,630 4.34 %$3,219,772 $61,860 3.87 %
Nontaxable331,844 9,427 5.73 5,378 82 3.07 
Total Securities5,707,540 125,057 4.42 3,225,150 61,942 3.87 
Federal funds sold302,391 5,362 3.58 224,159 4,986 4.49 
Interest-bearing deposits with other banks and other investments183,479 4,338 4.77 121,550 2,974 4.93 
Total Loans, net2
12,767,144 374,939 5.92 10,471,732 308,472 5.94 
Total Earning Assets18,960,554 509,696 5.42 %14,042,591 378,374 5.43 %
Allowance for credit losses(178,604)(139,879)
Cash and due from banks183,918 155,639 
Bank premises and equipment, net162,134 108,427 
Intangible assets1,220,186 799,045 
Bank owned life insurance332,851 311,114 
Other assets including deferred tax assets344,869 322,603 
Total Assets$21,025,908 $15,599,540 
Liabilities, Convertible Preferred Stock & Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing demand$3,981,503 $22,637 1.15 %$2,664,275 $21,318 1.61 %
Savings974,301 2,560 0.53 537,759 1,579 0.59 
Money market5,150,688 63,590 2.49 4,135,730 61,362 2.99 
Time deposits2,253,190 36,246 3.24 1,674,177 30,093 3.62 
Securities sold under agreements to repurchase346,586 3,742 2.18 193,581 2,571 2.68 
Federal Home Loan Bank borrowings881,300 17,037 3.90 554,477 11,886 4.32 
Long-term debt, net and other112,843 3,580 6.40 107,123 3,412 6.42 
Total Interest-Bearing Liabilities13,700,411 149,392 2.20 %9,867,122 132,221 2.70 %
Noninterest demand4,064,066 3,347,939 
Other liabilities171,879 150,775 
Total Liabilities17,936,356 13,365,836 
Convertible preferred stock343,125 — 
Shareholders' equity2,746,427 2,233,704 
Total Liabilities, Convertible Preferred Stock & Equity$21,025,908 $15,599,540 
Cost of deposits1.54 %1.87 %
Cost of funds3
1.70 2.02 
Interest expense as a % of earning assets1.59 1.90 
Net interest income as a % of earning assets$360,304 3.83 %$246,153 3.53 %
1On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost.
2Fees on loans have been included in interest on loans. Nonaccrual loans are included in loan balances.
3Total interest expense as a percentage of total interest-bearing liabilities and noninterest demand deposits.



CONSOLIDATED QUARTERLY FINANCIAL DATA(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
June 30,March 31,December 31,September 30,June 30,
(Amounts in thousands)20262026202520252025
Customer Relationship Funding
Noninterest demand
Commercial$3,369,981 $3,328,553 $3,053,115 $2,933,228 $2,717,688 
Retail665,430 676,152 672,779 508,204 509,539 
Public funds95,381 95,841 112,548 96,396 81,448 
Other85,707 76,308 59,543 74,092 68,266 
Total Noninterest Demand4,216,499 4,176,854 3,897,985 3,611,920 3,376,941 
Interest-bearing demand
Commercial1,573,655 1,627,444 1,534,289 1,586,997 1,466,184 
Retail2,019,505 2,126,907 2,047,462 976,318 838,340 
Public funds277,410 303,142 411,474 190,148 214,333 
Total Interest-Bearing Demand3,870,570 4,057,493 3,993,225 2,753,463 2,518,857 
Total transaction accounts
Commercial4,943,636 4,955,997 4,587,404 4,520,225 4,183,872 
Retail2,684,935 2,803,059 2,720,241 1,484,522 1,347,879 
Public funds372,791 398,983 524,022 286,544 295,781 
Other85,707 76,308 59,543 74,092 68,266 
Total Transaction Accounts8,087,069 8,234,347 7,891,210 6,365,383 5,895,798 
Savings
Commercial40,787 40,481 43,189 43,102 45,531 
Retail931,943 939,152 931,505 572,464 511,941 
Total Savings972,730 979,633 974,694 615,566 557,472 
Money market
Commercial2,444,562 2,396,144 2,334,255 2,303,584 2,073,098 
Retail2,493,658 2,609,435 2,584,398 1,898,375 1,853,398 
Public funds189,152 200,183 222,866 194,499 185,293 
Total Money Market5,127,372 5,205,762 5,141,519 4,396,458 4,111,789 
Brokered time certificates611,578 209,281 120,865 189,561 515,303 
Time deposits1,993,546 2,008,926 2,128,055 1,523,351 1,417,236 
Total Time Deposits2,605,124 2,218,207 2,248,920 1,712,912 1,932,539 
Total Deposits16,792,295 16,637,949 16,256,343 13,090,319 12,497,598 
Securities sold under agreements to repurchase373,095 377,460 389,003 236,247 186,090 
Total customer funding1
$16,553,812 $16,806,128 $16,524,481 $13,137,005 $12,168,385 
1Total deposits and securities sold under agreements to repurchase, excluding brokered deposits. Securities sold under agreements to repurchase consists of customer sweep accounts.



Explanation of Certain Unaudited Non-GAAP Financial Measures
This presentation contains financial information determined by methods other than Generally Accepted Accounting Principles (“GAAP”). Management uses these non-GAAP financial measures in its analysis of the Company’s performance and believes these presentations provide useful supplemental information, and a clearer understanding of the Company’s performance. The Company believes the non-GAAP measures enhance investors’ understanding of the Company’s business and performance and if not provided would be requested by the investor community. These measures are also useful in understanding performance trends and facilitate comparisons with the performance of other financial institutions. The limitations associated with operating measures are the risk that persons might disagree as to the appropriateness of items comprising these measures and that different companies might define or calculate these measures differently. The Company provides reconciliations between GAAP and these non-GAAP measures. These disclosures should not be considered an alternative to GAAP.


GAAP TO NON-GAAP RECONCILIATION(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
Quarterly TrendsSix Months Ended
(Amounts in thousands, except per share data)2Q'261Q'264Q'253Q'252Q'252Q'262Q'25
Net income$59,535 $31,895 $34,260 $36,467 $42,687 $91,430 $74,151 
Total noninterest income (loss)27,778 (12,614)28,631 23,818 24,521 15,164 46,701 
 Securities losses (gains), net59 39,528 (84)841 (39)39,587 (235)
Total adjusted noninterest income27,837 26,914 28,547 24,659 24,482 54,751 46,466 
Total noninterest expense123,110 122,171 130,546 101,987 91,730 245,281 182,327 
Merger and integration costs(8,358)(8,536)(18,142)(10,808)(2,422)(16,894)(3,473)
Adjusted noninterest expense114,752 113,635 112,404 91,179 89,308 228,387 178,854 
Income taxes16,531 9,029 9,192 10,461 12,589 25,560 21,975 
Tax effect of adjustments 2,133 12,182 4,577 2,952 604 14,315 821 
Adjusted income taxes18,664 21,211 13,769 13,413 13,193 39,875 22,796 
Adjusted net income65,819 67,777 47,741 45,164 44,466 133,596 76,568 
Earnings per common share-diluted, as reported0.55 0.29 0.31 0.42 0.50 0.84 0.87 
Adjusted earnings per common share-diluted$0.61 $0.62 $0.44 $0.52 $0.52 $1.23 $0.90 
Average common shares-diluted97,250 97,838 97,761 87,425 85,479 97,549 85,454 
Average preferred shares, treating all convertible preferred shares as common11,250 11,250 11,250 — — 11,250 — 
Average common shares-diluted, treating all convertible preferred shares as common108,500 109,088 109,011 87,425 85,479 108,799 85,454 
Adjusted noninterest expense$114,752 $113,635 $112,404 $91,179 $89,308 $228,387 $178,854 
Provision for credit losses on unfunded commitments(150)(150)(812)(150)(150)(300)(300)
Other real estate owned expense and net (loss) gain on sale(85)(63)29 346 (8)(148)(249)
Amortization of intangibles(9,960)(10,098)(10,374)(6,005)(5,131)(20,058)(10,440)
Net adjusted noninterest expense104,557 103,324 101,247 85,370 84,019 207,881 167,865 
Average tangible assets$19,910,950 $19,699,325 $19,976,896 $15,658,723 $15,004,763 $19,805,722 $14,800,495 
Net adjusted noninterest expense to average tangible assets2.11 %2.13 %2.01 %2.16 %2.25 %2.12 %2.29 %
Net revenue$208,173 $163,856 $203,258 $157,286 $151,385 $372,029 $292,082 
Total adjustments to net revenue59 39,528 (84)841 (39)39,587 (235)
Impact of FTE adjustment1,755 1,684 1,617 438 431 3,439 772 
Adjusted net revenue on a FTE basis$209,987 $205,068 $204,791 $158,565 $151,777 $415,055 $292,619 
Adjusted efficiency ratio54.54 %55.31 %54.50 %57.63 %58.74 %54.92 %60.93 %
Net interest income$180,395 $176,470 $174,627 $133,468 $126,864 $356,865 $245,381 
Impact of FTE adjustment1,755 1,684 1,617 438 431 3,439 772 
Net interest income including FTE adjustment182,150 178,154 176,244 133,906 127,295 360,304 246,153 
Total noninterest income (loss)27,778 (12,614)28,631 23,818 24,521 15,164 46,701 
Total noninterest expense less provision for credit losses on unfunded commitments122,960 122,021 129,734 101,837 91,580 244,981 182,027 
Pre-tax pre-provision earnings86,968 43,519 75,141 55,887 60,236 130,487 110,827 
Total adjustments to noninterest income (loss)59 39,528 (84)841 (39)39,587 (235)
Total adjustments to noninterest expense including other real estate owned expense and net (loss) gain on sale8,443 8,599 18,113 10,462 2,430 17,042 3,722 
Adjusted pre-tax pre-provision earnings$95,470 $91,646 $93,170 $67,190 $62,627 $187,116 $114,314 


GAAP TO NON-GAAP RECONCILIATION(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES
Quarterly TrendsSix Months Ended
(Amounts in thousands, except per share data)2Q'261Q'264Q'253Q'252Q'252Q'262Q'25
Average assets$21,125,779 $20,924,927 $21,203,391 $16,486,017 $15,801,194 $21,025,908 $15,599,540 
Less average goodwill and intangible assets(1,214,829)(1,225,602)(1,226,495)(827,294)(796,431)(1,220,186)(799,045)
Average tangible assets$19,910,950 $19,699,325 $19,976,896 $15,658,723 $15,004,763 $19,805,722 $14,800,495 
Return on average assets (ROA)1.13 %0.62 %0.64 %0.88 %1.08 %0.88 %0.96 %
Impact of other adjustments for adjusted net income0.12 0.69 0.25 0.21 0.05 0.40 0.03 
Adjusted ROA1.25 1.31 0.89 1.09 1.13 1.28 0.99 
ROA1.13 0.62 0.64 0.88 1.08 0.88 0.96 
Impact of removing average intangible assets and related amortization 0.22 0.19 0.19 0.16 0.16 0.20 0.16 
Return on average tangible assets (ROTA)1.35 0.81 0.83 1.04 1.24 1.08 1.12 
Impact of other adjustments for adjusted net income0.13 0.74 0.27 0.22 0.05 0.43 0.03 
Adjusted ROTA1.48 1.55 1.10 1.26 1.29 1.51 1.15 
Return on average equity (ROE)8.74 4.69 4.99 6.17 7.60 6.71 6.69 
Impact of other adjustments for adjusted net income0.92 5.27 1.96 1.47 0.32 3.10 0.22 
Adjusted ROE9.66 %9.96 %6.95 %7.64 %7.92 %9.81 %6.91 %
Average shareholders' equity$2,732,353 $2,760,656 $2,724,208 $2,345,233 $2,252,208 $2,746,427 $2,233,704 
Average convertible preferred stock343,125 343,125 343,125 — — 343,125 — 
Less average goodwill and intangible assets(1,214,829)(1,225,602)(1,226,495)(827,294)(796,431)(1,220,186)(799,045)
Average tangible equity$1,860,649 $1,878,179 $1,840,838 $1,517,939 $1,455,777 $1,869,366 $1,434,659 
Return on average shareholders' equity 8.74 %4.69 %4.99 %6.17 %7.60 %6.71 %6.69 %
Impact of adding convertible preferred stock and removing average intangible assets and related amortization 5.70 3.82 4.06 4.53 5.22 4.77 4.83 
Return on average tangible equity (ROTE)14.44 8.51 9.05 10.70 12.82 11.48 11.52 
Impact of other adjustments for adjusted net income1.35 7.75 2.91 2.28 0.49 4.55 0.34 
Adjusted ROTE15.79 %16.26 %11.96 %12.98 %13.31 %16.03 %11.86 %
Loan interest income1
$188,712 $186,227 $187,910 $162,341 $157,499 $374,939 $308,472 
Accretion on acquired loans(8,901)(12,094)(10,645)(9,543)(10,583)(20,995)(18,804)
Loan interest income excluding accretion on acquired loans1
$179,811 $174,133 $177,265 $152,798 $146,916 $353,944 $289,668 
Yield on loans1
5.88 %5.96 %6.02 %5.96 %5.98 %5.92 %5.94 %
Impact of accretion on acquired loans (0.27)(0.39)(0.34)(0.35)(0.40)(0.33)(0.36)
Yield on loans excluding accretion on acquired loans1
5.61 %5.57 %5.68 %5.61 %5.58 %5.59 %5.58 %
Net interest income1
$182,150 $178,154 $176,244 $133,906 $127,295 $360,304 $246,153 
Accretion on acquired loans(8,901)(12,094)(10,645)(9,543)(10,583)(20,995)(18,804)
Net interest income excluding accretion on acquired loans1
$173,249 $166,060 $165,599 $124,363 $116,712 $339,309 $227,349 
Net interest margin1
3.83 %3.83 %3.66 %3.57 %3.58 %3.83 %3.53 %
Impact of accretion on acquired loans (0.18)(0.26)(0.22)(0.25)(0.29)(0.22)(0.27)
Net interest margin excluding accretion on acquired loans1
3.65 %3.57 %3.44 %3.32 %3.29 %3.61 %3.26 %
Securities interest income1
$63,778 $61,279 $57,852 $36,029 $32,519 $125,057 $61,942 
Tax equivalent adjustment on securities(1,204)(1,188)(1,114)(10)(7)(2,392)(15)
Securities interest income excluding tax equivalent adjustment1
62,574 60,091 56,738 36,019 32,512 122,665 61,927 
Loan interest income1
188,712 186,227 187,910 162,341 157,499 374,939 308,472 
Tax equivalent adjustment on loans(551)(496)(503)(428)(424)(1,047)(757)
Loan interest income excluding tax equivalent adjustment188,161 185,731 187,407 161,913 157,075 373,892 307,715 
Net interest income1
182,150 178,154 176,243 133,906 127,295 360,304 246,153 
Tax equivalent adjustment on securities(1,204)(1,188)(1,114)(10)(7)(2,392)(15)
Tax equivalent adjustment on loans(551)(496)(503)(428)(424)(1,047)(757)
Net interest income excluding tax equivalent adjustments$180,395 $176,470 $174,626 $133,468 $126,864 $356,865 $245,381 
1On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost.