Q1 2026 Seacoast Banking Corporation of Florida Earnings Call Transcript

Apr 29, 2026 / 02:00 PM GMT

Release Date Price: $31.28 (-1.42%)

Transcript 10-Q8-K

Key Points

Positve

Seacoast Banking Corp of Florida (SBCF) reported a strong quarter with robust deposit growth, particularly in non-interest-bearing deposits.
The company achieved meaningful expansion in the net interest margin, driven by lower deposit costs and higher securities yields.
Commercial loan production momentum remains strong, with a 35% year-over-year increase.
Asset quality remains exceptional, with limited charge-offs and stable criticized and classified assets.
The wealth management segment showed impressive growth, with revenue up 36% year-over-year and assets under management increasing by 33%.

Negative

The first quarter loan growth was seasonally softer and impacted by elevated payoffs, including three large credits totaling $150 million.
Reported non-interest income was a net loss of $12.6 million due to a strategic repositioning of the securities portfolio.
The cost of deposits remains a concern, with potential for stabilizing or increasing costs without expected Fed rate cuts.
There was a modest increase in non-performing loans, though still within low historical levels.
The company incurred a $39.5 million pre-tax loss related to the repositioning of its available-for-sale securities portfolio.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SBCF.OQ - Seacoast Banking Corporation of Florida
Q1 2026 Seacoast Banking Corporation of Florida Earnings Call
Apr 29, 2026 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to Seacoast Banking Corporation's First Quarter 2026 Earnings Conference Call. My name is Kate and I will be your operator.

Before we begin, I have been asked to direct your attention to the statement at the end of the company's press release regarding forward-looking statements. Seacoast will be discussing issues that constitute forward-looking statements within the meaning of the Securities and Exchange Act, and its comments today are intended to be covered within the meaning of that act. Please note that this conference is being recorded. I will now turn the call over to Chuck Schaefer, Chairman and CEO of Seacoast Bank. Mr. Schaefer, you may begin.

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