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Mar 31, 2025
Seacoast Banking Q1 2025 Earnings Report
Seacoast Banking Corporation of Florida reported net income of $31.5 million, or $0.37 per diluted share, with net interest margin expanding to 3.48% and annualized growth in deposits of 11% and loans of 6%.
Key Takeaways
Seacoast Banking Corporation of Florida delivered a solid first quarter in 2025, with GAAP net income of $31.5 million and diluted EPS of $0.37. The company saw strong annualized growth in deposits (11%) and loans (6%), while net interest margin expanded by nine basis points to 3.48%. The balance sheet remains well-positioned with strong capital and liquidity.
Net income for Q1 2025 was $31.5 million ($0.37 diluted EPS), with adjusted net income at $32.1 million ($0.38 adjusted diluted EPS).
Net interest margin expanded by nine basis points quarter-over-quarter to 3.48%, driven by lower deposit costs.
The company achieved annualized growth of 11% in deposits and 6% in loans, reflecting disciplined growth and talent investments.
Seacoast maintains a strong capital position and ample liquidity, with a proposed acquisition of Heartland Bancshares, Inc. expected to close in Q3 2025.
Revenue by Segment
Forward Guidance
Seacoast anticipates continued growth in loans and deposits, further expansion of net interest margin, and strong value creation from market expansion and strategic acquisitions. The company emphasizes its well-positioned balance sheet, strong capital, and excess liquidity to navigate macroeconomic volatility.
Positive Outlook
- Continued growth in disciplined loans and strong deposit growth is expected, supported by high-performing revenue-producing talent.
- Further expansion of net interest margin is anticipated due to ample liquidity and a granular deposit franchise.
- Market presence expansion in Fort Lauderdale and Tampa regions, along with the proposed acquisition of Heartland Bancshares, Inc., is expected to drive strong value creation.
- The company's fortress balance sheet, industry-leading capital position, and excess liquidity provide durability and optionality to support clients and communities.
- The acquisition of Heartland Bancshares, Inc. is expected to close in the third quarter of 2025, expanding presence in Central Florida.
Challenges Ahead
- No specific negative forward guidance was provided beyond general cautionary statements regarding macroeconomic volatility and industry risks.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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