SEACOAST BANKING CORP OF FLORIDA (SBCF) Form 10-Q — Aug 4, 2026
Seacoast Banking Corporation of Florida reported Q2 2026 net income of $59.5 million, or $0.55 per diluted share, up 39% from the year-ago quarter, with adjusted net income of $65.8 million, or $0.61 per share. Net interest income grew 42% year over year to $180.4 million and net interest margin held at 3.83%, while annualized organic loan growth ran at 16% and the cost of deposits declined to 1.53%. The balance sheet reached $21.4 billion in assets, $16.8 billion in deposits, and $13.1 billion in loans, reflecting the 2025 acquisitions of Villages Bancorporation ($829.1 million) and Heartland Bancshares ($111.2 million), with the VBI system conversion completed in July 2026.
Key figures
- Eps
- 0.55
- Revenue
- Q2 2026 net revenue $208.2 million; 1H 2026 $372.0 million (non-GAAP net revenue as stated)
- Net Income
- $59.5 million Q2 2026; $91.4 million 1H 2026 (vs $42.7 million and $74.2 million prior-year periods)
- Total Assets
- 21360072000
- Cash Position
- 429944000
- Shares Outstanding
- 96822799
- Roa
- 1.13%
- Rote
- 14.44%
- Acl To Loans
- 1.38%
- Total Loans
- $13.15 billion (+4.1% YTD)
- Total Deposits
- $16.79 billion
- Cost Of Deposits
- 1.53%
- Fhlb Borrowings
- $835.0 million
- Efficiency Ratio
- 58.52%
- Long Term Debt Net
- $112.9 million
- Brokered Deposits
- $611.6 million (vs $120.9 million at Dec 31, 2025)
- Adjusted Net Income
- $65.8 million / $0.61 adjusted diluted EPS (non-GAAP)
- Net Interest Margin
- 3.83% (3.65% excluding accretion)
- Dividends Per Share1 H
- $0.38
- Net Interest Income Q2
- $180.4 million (+42% YoY)
- Nonperforming Assets
- $90.0 million (+18% from $76.3 million at Dec 31, 2025; 0.42% of assets)
- Vbi Acquisition Value
- $829.1 million (closed Oct 1, 2025)
- Shares Repurchased YTD
- 1072443
- Merger Integration Costs1 H
- $16.9 million
- Heartland Acquisition Value
- $111.2 million (closed Jul 11, 2025)
- Organic Loan Growth Annualized
- 16%
- Securities Repositioning Loss Q1
- $39.5 million pre-tax
Price after filing
Close on the filing date to close N calendar days later (from $35.38). Historical, not a forecast.
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.