Seacoast Banking Corp Of Florida 8-K, filed Oct 27, 2026
Seacoast Banking Corp Of Florida (SBCF)
8-K
2026-10-27
For: 2026-10-27
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Added on
October 27, 2026
About this 8-K
Seacoast Banking Corp Of Florida filed this 8-K on October 27, 2026.
Seacoast Banking Corporation of Florida reported third-quarter net income of $59.9 million, or $0.55 per share, up 64% from the prior year quarter. Organic loan growth was 13% annualized and net interest margin was 3.83%. AI summary
Items reported
- Item 2.02: Financial results
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): October 27, 2026
(Exact Name of Registrant as Specified in Charter)
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
| (Address of Principal Executive Offices) | (Zip Code) | |||||||||||||
Registrant’s telephone number, including area code (772 ) 287-4000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
SEACOAST BANKING CORPORATION OF FLORIDA
Item 2.02 Results of Operations and Financial Condition
On October 27, 2026, Seacoast Banking Corporation of Florida ("Seacoast" or the "Company") announced its financial results for the three- and nine-month periods ended September 30, 2026. A copy of the Company's press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 7.01 Regulation FD Disclosure
On October 28, 2026, Seacoast will hold an investor conference call to discuss its financial results. The conference call begins at 10:00 a.m. Eastern Time. Attached as Exhibit 99.2 is the presentation containing information used in the conference call and incorporated herein by reference, which is also available on the Company's website at www.seacoastbanking.com. All information included in the presentation is presented as of September 30, 2026, and the Company does not assume any obligation to correct or update said information in the future, unless required to do so by law.
The information in Items 2.02 and 7.01, as well as Exhibits 99.1 and 99.2, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, unless expressly stated in such filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | Description | |||||||
| 99.1 | ||||||||
| 99.2 | ||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
Exhibits 99.1 and 99.2 referenced herein, contain “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 to reported earnings that may be realized from cost controls, tax law changes, new initiatives and for integration of banks 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 or its wholly-owned banking subsidiary, Seacoast National Bank, to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. You should not expect the Company to update any forward-looking statements unless the Company is legally required to do so.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SEACOAST BANKING CORPORATION OF FLORIDA
| Dated: October 27, 2026 | /s/ Tracey L. Dexter | ||||
| Tracey L. Dexter | |||||
| Chief Financial Officer | |||||
SEACOAST REPORTS THIRD QUARTER 2026 RESULTS
Continued Improvement Across Profitability Metrics
Robust Organic Loan Growth with Sustained Pipeline Strength
Continued Strong Capital and Liquidity Position
STUART, Fla., October 27, 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 third quarter of 2026.
Third Quarter 2026 Highlights
•Net income of $59.9 million, or $0.55 per share, increased 1% from the prior quarter and 64% from the prior year quarter. Adjusted net income1 of $71.8 million, or $0.66 per share, increased 9% from the prior quarter and 59% from the prior year quarter.
•Adjusted pre-tax pre-provision earnings1 increased 5% from the prior quarter and 49% from the prior year quarter.
•Net interest income grew 2% from the prior quarter and 37% from the prior year quarter.
•The net interest margin was stable at 3.83% compared to the prior quarter and, excluding accretion on acquired loans, net interest margin expanded one basis point to 3.66%.
•13% annualized organic loan growth in the third quarter and 10% annualized growth year to date.
•Average noninterest-bearing deposits grew 4% annualized from the prior quarter and noninterest-bearing demand deposits have grown 10% annualized year to date.
•Continued share repurchases, with over 1.2 million shares of common stock repurchased year to date.
•Return on average assets was 1.11% and adjusted return on average assets1 was 1.34%, compared to 1.25% in the prior quarter.
•Return on average tangible shareholders' equity was 14.34% and adjusted return on average tangible shareholders' equity1 was 16.89%, compared to 15.79% in the prior quarter.
•Successfully completed the integration of Villages Bancorporation, Inc. (“VBI”), solidifying a long-term growth partnership.
Charles M. Shaffer, Seacoast's Chairman and CEO, said, “Seacoast celebrates its 100th anniversary this month, and I am incredibly proud of the company we have become and the momentum we are carrying forward. Our third quarter results demonstrate the earnings power of our franchise, with record earnings, strong organic loan growth, and improved operating efficiency. Importantly, we continue to operate from a position of financial strength, with a fortress balance sheet, strong capital, and substantial liquidity.
Shaffer added, “Our team remains focused on serving clients, winning new business, and realizing the benefits of the investments we have made across the organization. Our expanded footprint, experienced bankers, and deep community presence position us well to continue growing relationships and improving productivity. At the same time, our balance sheet strength and financial flexibility give us the capacity to support our customers through economic cycles, invest in our business, and pursue disciplined growth.
Shaffer concluded, “As we enter our second century, I believe Seacoast has never been better positioned. We are larger, stronger, and more capable, with an exceptional team, a strong culture, and the financial strength to capitalize on the opportunities ahead. This quarter’s results reinforce our confidence in Seacoast’s ability to continue growing, improving returns, and creating enduring value for our customers, communities, and shareholders.”
1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and for a reconciliation to GAAP.
Financial Results
Income Statement
•Net income in the third quarter of 2026 was $59.9 million, or $0.55 per diluted share, compared to $59.5 million, or $0.55 per diluted share, in the prior quarter and $36.5 million, or $0.42 per diluted share, in the prior year quarter. Adjusted net income1 for the third quarter of 2026 was $71.8 million, or $0.66 per diluted share, compared to $65.8 million, or $0.61 per diluted share, for the prior quarter, and $45.2 million, or $0.52 per diluted share, for the prior year quarter. For the nine months ended September 30, 2026, net income was $151.3 million and adjusted net income1 was $205.4 million, compared to $110.6 million and $121.7 million, respectively, in the prior year period.
•Net revenues were $215.0 million in the third quarter of 2026, an increase of $6.8 million, or 3%, compared to the prior quarter, and an increase of $57.7 million, or 37%, compared to the prior year quarter. Adjusted net revenues1 were $217.5 million in the third quarter of 2026, an increase of $7.5 million, or 4%, compared to the prior quarter, and an increase of $58.9 million, or 37%, compared to the prior year quarter. For the nine months ended September 30, 2026, net revenues were $587.0 million, an increase of 31% compared to the prior year period.
•Pre-tax pre-provision earnings on an adjusted basis1 were $100.3 million in the third quarter of 2026, an increase of $4.9 million, or 5%, compared to the prior quarter, and an increase of $33.1 million, or 49%, compared to the third quarter of 2025. For the nine months ended September 30, 2026, adjusted pre-tax pre-provision earnings1 were $287.4 million, compared to $181.5 million in the prior year period.
•Net interest income totaled $183.4 million in the third quarter of 2026, an increase of $3.0 million, or 2%, compared to the prior quarter, and an increase of $49.9 million, or 37%, compared to the third quarter of 2025. Interest income on loans increased $9.2 million, or 5%, compared to the prior quarter due to higher average loan balances and higher core loan yields. Accretion on acquired loans was $8.5 million in the third quarter of 2026 compared to $8.9 million in the second quarter of 2026. Securities income decreased $0.8 million, or 1%, compared to the prior quarter as improved securities portfolio yields were more than offset by lower average securities balances. Interest expense on deposits increased $4.3 million, or 7%, compared to the prior quarter due to higher average balances and higher rates.
•Net interest margin was stable at 3.83% in the third quarter of 2026 compared to the second quarter of 2026, and increased 26 basis points compared to 3.57% in the third quarter of 2025. Excluding the effects of accretion on acquired loans, net interest margin expanded one basis point to 3.66% in the third quarter of 2026 compared to 3.65% in the second quarter of 2026, and increased 34 basis points compared to 3.32% in the third quarter of 2025. Loan yields were 5.89%, an increase of one basis point from the prior quarter. Excluding accretion on acquired loans, loan yields were 5.64%, up three basis points from both the prior quarter and the prior year quarter. Securities yields increased to 4.52%, up five basis points from the prior quarter and up 60 basis points from the prior year quarter. The cost of deposits increased seven basis points to 1.60% in the third quarter of 2026 compared to 1.53% in the prior quarter, and declined 21 basis points compared to 1.81% in the third quarter of 2025. The cost of funds increased five basis points to 1.74% compared to the prior quarter, and declined 22 basis points compared to the prior year quarter.
•The Company recorded a provision for credit losses of $6.3 million in the third quarter of 2026, reflecting continued strong loan growth and net charge-offs of $5.4 million. Allowance coverage of 1.41% at September 30, 2026 was higher by three basis points compared to June 30, 2026, and included an $8.4 million measurement period adjustment, identified and recorded in the third quarter of 2026, to the reserve for an acquired VBI loan.
•Noninterest income totaled $31.6 million in the third quarter of 2026, an increase of $3.8 million, or 14%, compared to the prior quarter, and an increase of $7.8 million, or 33%, compared to the prior year quarter. Net securities activity resulted in losses of $0.5 million during the third quarter of 2026. Other changes in the third quarter of 2026 included:
•Wealth management income totaled $6.1 million, an increase of $0.1 million, or 2%, from the prior quarter and an increase of $1.5 million, or 33%, from the prior year quarter. Assets under management have grown 29% year-over-year with a compound annual growth rate of 22% over the last five years.
•Mortgage banking income totaled $4.7 million, an increase of $2.0 million, or 73%, from the prior quarter, with higher interest rates driving higher values on mortgage servicing rights, offsetting similar declines earlier in 2026. Comparisons to the prior year quarter are impacted by the October 2025 acquisition of VBI resulting in the addition of mortgage origination activity in The Villages® communities.
•Insurance agency income totaled $1.8 million, an increase of $0.5 million, or 38%, from the prior quarter and an increase of $0.4 million, or 25%, from the prior year quarter, reflecting continued growth in the business including a small agency acquisition completed in the third quarter of 2026.
1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and for a reconciliation to GAAP.
•Other income totaled $7.5 million, an increase of $1.4 million, or 24%, compared to the prior quarter and an increase of $1.5 million, or 24%, from the prior year quarter. Compared to the prior quarter, the third quarter of 2026 included higher swap and syndication fees, higher gains on SBA loan sales and higher unrealized gains on SBIC investments.
•Noninterest expense was $133.3 million in the third quarter of 2026, an increase of $10.2 million, or 8%, compared to the prior quarter, and an increase of $31.3 million, or 31%, compared to the prior year quarter. Merger and integration costs totaled $15.5 million, compared to $8.4 million in the prior quarter and $10.8 million in the prior year quarter. Results for the third quarter of 2026 included:
•Salaries and employee benefits totaled $63.4 million, an increase of $0.3 million, or 1%, from the prior quarter and an increase of $9.7 million, or 18%, from the prior year quarter.
•Outsourced data processing costs totaled $12.5 million, an increase of $0.2 million, or 2%, from the prior quarter and an increase of $3.1 million, or 34%, from the prior year quarter.
•Occupancy and furniture and equipment expenses totaled $12.5 million, an increase of $0.1 million, or 1%, compared to the prior quarter and an increase of $2.7 million, or 27%, from the prior year quarter.
•Legal and professional fees totaled $2.7 million, an increase of $0.2 million, or 10%, compared to the prior quarter and an increase of $1.1 million, or 63%, from the prior year quarter.
•Amortization of intangibles totaled $9.9 million, consistent with the prior quarter and an increase of $3.9 million, or 65%, from the prior year quarter.
•Other expenses totaled $9.4 million, an increase of $1.4 million, or 17%, compared to the prior quarter and an increase of $3.6 million, or 60%, from the prior year quarter.
•The efficiency ratio was 61.0% in the third quarter of 2026, compared to 58.5% in the second quarter of 2026 and 64.4% in the third quarter of 2025. The adjusted efficiency ratio1 improved to 53.9% in the third quarter of 2026, compared to 54.5% in the second quarter of 2026 and 57.6% in the prior year quarter. The Company remains keenly focused on disciplined expense control while continuing to make investments to support growth.
Balance Sheet
•At September 30, 2026, the Company had total assets of $21.2 billion and total shareholders’ equity of $2.6 billion. Book value per common share was $26.83 as of September 30, 2026, compared to $28.20 as of June 30, 2026, and $27.07 as of September 30, 2025. Tangible book value per share, treating all convertible preferred shares as common was $15.96 as of September 30, 2026, compared to $17.25 as of June 30, 2026, and $17.61 as of September 30, 2025. Higher interest rates and wider spreads led to a decline in accumulated other comprehensive income associated with investment securities and related hedging activities, contributing approximately $1.63 to the decline in tangible book value per share during the third quarter of 2026.
•Debt securities totaled $5.2 billion as of September 30, 2026, a decrease of $551.3 million compared to June 30, 2026. The Company sold $234.0 million in securities during the third quarter of 2026 to fund strong loan growth. Debt securities as of September 30, 2026 included approximately $4.6 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 $553.0 million in securities classified as held-to-maturity with a fair value of $435.3 million.
•Continued strong loan origination volume supported an increase in loan balances of $428.8 million, or 13% annualized, during the third quarter of 2026. The outlook for continued consistent growth remains strong, with commercial loan pipelines totaling $1.3 billion as of September 30, 2026.
•Total deposits were $16.6 billion as of September 30, 2026, compared to $16.8 billion as of June 30, 2026, with the decline including a $159.0 million decrease in brokered deposits and a $105.9 million decline in public funds. Outside of these two funding sources, deposits grew 1.3% annualized in all other categories.
•Noninterest-bearing demand deposits have grown at an annualized rate of 10% year to date.
•The cost of deposits increased seven basis points to 1.60% from 1.53% in the prior quarter.
•At September 30, 2026, customer transaction account balances continued to represent 48% of total deposits. The Company benefits from a granular deposit franchise, with the top ten depositors representing approximately 2% of total customer deposits.
1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and for a reconciliation to GAAP.
•Consumer deposits represented 47% of overall customer deposit funding with an average consumer customer balance of $26 thousand. Commercial deposits represented 53% of overall customer deposit funding with an average business customer balance of $120 thousand.
•Uninsured deposits represented 36% of overall deposit balances as of September 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 and other borrowings that represented 148% of uninsured deposits, and 165% of uninsured and uncollateralized deposits.
•Federal Home Loan Bank and other borrowings averaged $862.1 million at 3.83% for the third quarter of 2026, compared to average borrowings of $915.0 million at 3.77% in the second quarter of 2026 and $637.8 million at 4.17% in the third quarter of 2025.
Asset Quality
•The ratio of criticized and classified loans to total loans was 2.90% at September 30, 2026, 2.88% at June 30, 2026, and 2.50% at September 30, 2025.
•Nonperforming loans were $73.3 million, or 0.54% of total loans, at September 30, 2026, a decrease of $13.3 million, or 15%, from $86.5 million, or 0.66% of total loans, as of June 30, 2026 and an increase of $12.7 million, or 21%, from $60.6 million, or 0.55%, of total loans, at September 30, 2025.
•Accruing past due loans were $27.4 million, or 0.20% of total loans, at September 30, 2026, compared to $20.1 million, or 0.15% of total loans, at June 30, 2026, and $20.3 million, or 0.19% of total loans, at September 30, 2025.
•Net charge-offs were $5.4 million in the third quarter of 2026, compared to $3.2 million in both the second quarter of 2026 and the third quarter of 2025. Net charge-offs for the four most recent quarters averaged 0.10% of total loans.
•The ratio of ACL to total loans was 1.41% at September 30, 2026, an increase of three basis points compared to 1.38% at June 30, 2026, and was 1.34% at September 30, 2025. The increase in coverage is the result of an $8.4 million measurement period adjustment, identified and recorded in the third quarter of 2026, to the reserve for an acquired VBI loan.
•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 September 30, 2026 at 45% and 250% of total bank-level risk-based capital2, respectively, compared to 40% and 230%, respectively, at June 30, 2026. On a consolidated basis and as of September 30, 2026, construction and land development and commercial real estate loans represented 41% and 227%, respectively, of total consolidated risk-based capital2.
Capital and Liquidity
•The Company continues to operate with a fortress balance sheet, with a Tier 1 capital ratio at September 30, 2026 of 14.1%2 compared to 14.3% at June 30, 2026, and 14.5% at September 30, 2025. The Total capital ratio was 15.5%2, the Common Equity Tier 1 capital ratio was 11.3%2, and the Tier 1 leverage ratio was 10.5%2 at September 30, 2026. The Company is considered “well-capitalized” based on applicable U.S. regulatory capital ratio requirements.
•Tangible equity to tangible assets3 was 8.63% at September 30, 2026, compared to 9.25% at June 30, 2026, and 9.76% at September 30, 2025, with the decline associated with the impact of higher rates on the securities portfolio recorded through accumulated other comprehensive income. If all held-to-maturity securities were also reflected at fair value, the tangible equity ratio would have been 8.22% at September 30, 2026.
•During 2026, the Company has taken opportunities to leverage its strong capital position by repurchasing over 1.2 million shares of its common stock under its share repurchase program.
•At September 30, 2026, in addition to $303.2 million in cash, the Company had $8.5 billion in available borrowing capacity, including $5.3 billion in available collateralized lines of credit, $2.8 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 September 30, 2026, represented 165% 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.
OTHER INFORMATION
Conference Call Information
Seacoast will host a conference call on October 28, 2026, at 10:00 a.m. (Eastern Time) to discuss the third quarter of 2026 earnings results and business trends. Investors may call in (toll-free) by dialing (800) 715-9871 (Conference ID: 5608516). 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 $21.2 billion in assets and $16.6 billion in deposits as of September 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 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
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 Trends | Nine Months Ended | ||||||||||||||||||||||||||||||||||||||||
| (Amounts in thousands, except ratios and per share data) | 3Q'26 | 2Q'26 | 1Q'26 | 4Q'25 | 3Q'25 | 3Q'26 | 3Q'25 | ||||||||||||||||||||||||||||||||||
| Summary of Earnings | |||||||||||||||||||||||||||||||||||||||||
| Net income | $ | 59,868 | $ | 59,535 | $ | 31,895 | $ | 34,260 | $ | 36,467 | $ | 151,298 | $ | 110,618 | |||||||||||||||||||||||||||
Adjusted net income1 | 71,846 | 65,819 | 67,777 | 47,741 | 45,164 | 205,442 | 121,732 | ||||||||||||||||||||||||||||||||||
Net interest income2 | 185,354 | 182,150 | 178,154 | 176,244 | 133,906 | 545,658 | 380,058 | ||||||||||||||||||||||||||||||||||
Net interest margin2,3 | 3.83 | % | 3.83 | % | 3.83 | % | 3.66 | % | 3.57 | % | 3.83 | % | 3.55 | % | |||||||||||||||||||||||||||
Pre-tax pre-provision earnings1 | $ | 83,781 | $ | 86,968 | $ | 43,519 | $ | 75,141 | $ | 55,887 | $ | 214,268 | $ | 166,713 | |||||||||||||||||||||||||||
Adjusted pre-tax pre-provision earnings1 | 100,323 | 95,470 | 91,646 | 93,170 | 67,190 | 287,439 | 181,503 | ||||||||||||||||||||||||||||||||||
| Performance Ratios | |||||||||||||||||||||||||||||||||||||||||
Return on average assets-GAAP basis3 | 1.11 | % | 1.13 | % | 0.62 | % | 0.64 | % | 0.88 | % | 0.96 | % | 0.93 | % | |||||||||||||||||||||||||||
Adjusted return on average assets1,3 | 1.34 | 1.25 | 1.31 | 0.89 | 1.09 | 1.30 | 1.02 | ||||||||||||||||||||||||||||||||||
Return on average tangible assets-GAAP basis3,4 | 1.33 | 1.35 | 0.81 | 0.83 | 1.04 | 1.17 | 1.09 | ||||||||||||||||||||||||||||||||||
Adjusted return on average tangible assets1,3,4 | 1.56 | 1.48 | 1.55 | 1.10 | 1.26 | 1.53 | 1.19 | ||||||||||||||||||||||||||||||||||
Net adjusted noninterest expense to average tangible assets1,3,4 | 2.12 | 2.11 | 2.13 | 2.01 | 2.16 | 2.12 | 2.24 | ||||||||||||||||||||||||||||||||||
Return on average equity-GAAP basis3 | 8.71 | 8.74 | 4.69 | 4.99 | 6.17 | 7.38 | 6.51 | ||||||||||||||||||||||||||||||||||
Adjusted return on average equity1,3 | 10.45 | 9.66 | 9.96 | 6.95 | 7.64 | 10.02 | 7.17 | ||||||||||||||||||||||||||||||||||
Return on average tangible equity-GAAP basis3,4 | 14.34 | 14.44 | 8.51 | 9.05 | 10.70 | 12.44 | 11.23 | ||||||||||||||||||||||||||||||||||
Adjusted return on average tangible equity1,3,4 | 16.89 | 15.79 | 16.26 | 11.96 | 12.98 | 16.32 | 12.25 | ||||||||||||||||||||||||||||||||||
Efficiency ratio5 | 61.00 | 58.52 | 59.47 | 63.36 | 64.44 | 59.68 | 62.94 | ||||||||||||||||||||||||||||||||||
Adjusted efficiency ratio1 | 53.87 | 54.54 | 55.31 | 54.50 | 57.63 | 54.56 | 59.77 | ||||||||||||||||||||||||||||||||||
| Noninterest income to total revenue (excluding securities gains/losses) | 14.91 | 13.37 | 13.23 | 14.05 | 15.59 | 13.86 | 15.81 | ||||||||||||||||||||||||||||||||||
Tangible equity to tangible assets4 | 8.63 | 9.25 | 9.24 | 9.31 | 9.76 | 8.63 | 9.76 | ||||||||||||||||||||||||||||||||||
Tangible common equity to tangible assets4 | 6.91 | 7.55 | 7.52 | 7.56 | 9.76 | 6.91 | 9.76 | ||||||||||||||||||||||||||||||||||
| Average loan-to-deposit ratio | 79.89 | 77.89 | 77.58 | 73.60 | 82.99 | 78.47 | 84.12 | ||||||||||||||||||||||||||||||||||
| End of period loan-to-deposit ratio | 81.96 | 78.39 | 76.09 | 77.78 | 83.84 | 81.96 | 83.84 | ||||||||||||||||||||||||||||||||||
| Per Share Data | |||||||||||||||||||||||||||||||||||||||||
| Earnings per common share-diluted-GAAP basis | $ | 0.55 | $ | 0.55 | $ | 0.29 | $ | 0.31 | $ | 0.42 | $ | 1.39 | $ | 1.28 | |||||||||||||||||||||||||||
| Earnings per common share-basic-GAAP basis | 0.56 | 0.55 | 0.30 | 0.32 | 0.42 | 1.40 | 1.30 | ||||||||||||||||||||||||||||||||||
Adjusted earnings per common share-diluted1 | 0.66 | 0.61 | 0.62 | 0.44 | 0.52 | 1.89 | 1.41 | ||||||||||||||||||||||||||||||||||
| Book value per common share | 26.83 | 28.20 | 27.83 | 27.70 | 27.07 | 26.83 | 27.07 | ||||||||||||||||||||||||||||||||||
Book value per share, treating all convertible preferred shares as common6 | 27.22 | 28.44 | 28.10 | 27.99 | 27.07 | 27.22 | 27.07 | ||||||||||||||||||||||||||||||||||
| Tangible book value per common share | 14.27 | 15.71 | 15.33 | 15.14 | 17.61 | 14.27 | 17.61 | ||||||||||||||||||||||||||||||||||
Tangible book value per share, treating all convertible preferred shares as common4,6 | 15.96 | 17.25 | 16.90 | 16.72 | 17.61 | 15.96 | 17.61 | ||||||||||||||||||||||||||||||||||
Cash dividends declared on common and preferred stock7 | 0.19 | 0.19 | 0.19 | 0.19 | 0.18 | 0.57 | 0.54 | ||||||||||||||||||||||||||||||||||
| Other Data | |||||||||||||||||||||||||||||||||||||||||
| Full-time equivalent employees | 1,954 | 1,964 | 1,949 | 1,962 | 1,601 | 1,954 | 1,601 | ||||||||||||||||||||||||||||||||||
| Number of ATMs | 193 | 192 | 192 | 191 | 103 | 193 | 103 | ||||||||||||||||||||||||||||||||||
| Full-service banking offices | 105 | 105 | 104 | 104 | 84 | 105 | 84 | ||||||||||||||||||||||||||||||||||
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 common 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. | |||||||||||||||||||||||||||||||||||||||||
| CONSOLIDATED STATEMENTS OF INCOME | (Unaudited) | |||||||||||||||||||||||||||||||||||||||||||
| SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||||
| Quarterly Trends | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||
| (Amounts in thousands, except per share data) | 3Q'26 | 2Q'26 | 1Q'26 | 4Q'25 | 3Q'25 | 3Q'26 | 3Q'25 | |||||||||||||||||||||||||||||||||||||
| Interest and fees on loans | $ | 197,314 | $ | 188,161 | $ | 185,731 | $ | 187,408 | $ | 161,913 | $ | 571,206 | $ | 469,628 | ||||||||||||||||||||||||||||||
| Interest and dividends on securities: | ||||||||||||||||||||||||||||||||||||||||||||
| Taxable | 58,212 | 59,051 | 56,579 | 53,445 | 35,975 | 173,842 | 97,835 | |||||||||||||||||||||||||||||||||||||
| Nontaxable | 3,517 | 3,523 | 3,512 | 3,293 | 44 | 10,552 | 111 | |||||||||||||||||||||||||||||||||||||
| Interest on interest-bearing deposits and other investments | 3,603 | 4,816 | 4,884 | 11,914 | 4,780 | 13,303 | 12,740 | |||||||||||||||||||||||||||||||||||||
| Total Interest Income | 262,646 | 255,551 | 250,706 | 256,060 | 202,712 | 768,903 | 580,314 | |||||||||||||||||||||||||||||||||||||
| Interest on deposits | 45,495 | 44,201 | 44,586 | 49,988 | 43,133 | 134,282 | 127,392 | |||||||||||||||||||||||||||||||||||||
| Interest on time certificates | 21,650 | 18,663 | 17,583 | 20,914 | 16,341 | 57,896 | 46,434 | |||||||||||||||||||||||||||||||||||||
| Interest on borrowed money | 12,146 | 12,292 | 12,067 | 10,531 | 9,770 | 36,505 | 27,639 | |||||||||||||||||||||||||||||||||||||
| Total Interest Expense | 79,291 | 75,156 | 74,236 | 81,433 | 69,244 | 228,683 | 201,465 | |||||||||||||||||||||||||||||||||||||
| Net Interest Income | 183,355 | 180,395 | 176,470 | 174,627 | 133,468 | 540,220 | 378,849 | |||||||||||||||||||||||||||||||||||||
| Provision for credit losses | 6,297 | 8,997 | 761 | 29,260 | 8,371 | 16,055 | 22,000 | |||||||||||||||||||||||||||||||||||||
| Net Interest Income After Provision for Credit Losses | 177,058 | 171,398 | 175,709 | 145,367 | 125,097 | 524,165 | 356,849 | |||||||||||||||||||||||||||||||||||||
| Noninterest income (loss): | ||||||||||||||||||||||||||||||||||||||||||||
| Service charges on deposit accounts | 7,088 | 7,045 | 6,912 | 6,472 | 6,194 | 21,045 | 16,914 | |||||||||||||||||||||||||||||||||||||
| Wealth management income | 6,094 | 5,968 | 5,777 | 5,540 | 4,578 | 17,839 | 13,022 | |||||||||||||||||||||||||||||||||||||
| Mortgage banking income | 4,739 | 2,744 | 2,166 | 3,108 | 517 | 9,649 | 1,606 | |||||||||||||||||||||||||||||||||||||
| Interchange income | 2,258 | 2,093 | 2,067 | 2,483 | 2,008 | 6,418 | 5,710 | |||||||||||||||||||||||||||||||||||||
| Insurance agency income | 1,847 | 1,336 | 1,790 | 1,191 | 1,481 | 4,973 | 4,390 | |||||||||||||||||||||||||||||||||||||
| BOLI income | 2,647 | 2,609 | 2,617 | 2,687 | 3,875 | 7,873 | 9,723 | |||||||||||||||||||||||||||||||||||||
| Other | 7,468 | 6,042 | 5,585 | 7,066 | 6,006 | 19,095 | 19,760 | |||||||||||||||||||||||||||||||||||||
| Total Noninterest Income Before Securities (Losses) Gains, Net | 32,141 | 27,837 | 26,914 | 28,547 | 24,659 | 86,892 | 71,125 | |||||||||||||||||||||||||||||||||||||
| Securities (losses) gains, net | (539) | (59) | (39,528) | 84 | (841) | (40,126) | (606) | |||||||||||||||||||||||||||||||||||||
| Total Noninterest Income (Loss) | 31,602 | 27,778 | (12,614) | 28,631 | 23,818 | 46,766 | 70,519 | |||||||||||||||||||||||||||||||||||||
| Noninterest expense: | ||||||||||||||||||||||||||||||||||||||||||||
| Salaries and employee benefits | 63,441 | 63,115 | 62,645 | 62,432 | 53,697 | 189,201 | 157,350 | |||||||||||||||||||||||||||||||||||||
| Outsourced data processing costs | 12,465 | 12,242 | 11,995 | 11,257 | 9,337 | 36,702 | 26,366 | |||||||||||||||||||||||||||||||||||||
| Occupancy | 9,385 | 9,591 | 9,235 | 9,330 | 7,627 | 28,211 | 22,460 | |||||||||||||||||||||||||||||||||||||
| Furniture and equipment | 3,150 | 2,803 | 2,821 | 2,935 | 2,233 | 8,774 | 6,486 | |||||||||||||||||||||||||||||||||||||
| Marketing | 3,515 | 3,525 | 3,467 | 3,149 | 2,509 | 10,507 | 8,215 | |||||||||||||||||||||||||||||||||||||
| Legal and professional fees | 2,726 | 2,480 | 3,170 | 2,106 | 1,674 | 8,376 | 6,485 | |||||||||||||||||||||||||||||||||||||
| FDIC assessments | 3,126 | 2,759 | 3,195 | 2,876 | 2,414 | 9,080 | 6,716 | |||||||||||||||||||||||||||||||||||||
| Amortization of intangibles | 9,934 | 9,960 | 10,098 | 10,374 | 6,005 | 29,992 | 16,445 | |||||||||||||||||||||||||||||||||||||
| Other real estate owned expense and net loss (gain) on sale | 497 | 85 | 63 | (29) | (346) | 645 | (97) | |||||||||||||||||||||||||||||||||||||
| Provision for credit losses on unfunded commitments | 150 | 150 | 150 | 812 | 150 | 450 | 450 | |||||||||||||||||||||||||||||||||||||
| Merger and integration costs | 15,506 | 8,358 | 8,536 | 18,142 | 10,808 | 32,400 | 14,281 | |||||||||||||||||||||||||||||||||||||
| Other | 9,430 | 8,042 | 6,796 | 7,162 | 5,879 | 24,268 | 19,157 | |||||||||||||||||||||||||||||||||||||
| Total Noninterest Expense | 133,325 | 123,110 | 122,171 | 130,546 | 101,987 | 378,606 | 284,314 | |||||||||||||||||||||||||||||||||||||
| Income Before Income Taxes | 75,335 | 76,066 | 40,924 | 43,452 | 46,928 | 192,325 | 143,054 | |||||||||||||||||||||||||||||||||||||
| Provision for income tax expense | 15,467 | 16,531 | 9,029 | 9,192 | 10,461 | 41,027 | 32,436 | |||||||||||||||||||||||||||||||||||||
| Net Income | 59,868 | 59,535 | 31,895 | 34,260 | 36,467 | 151,298 | 110,618 | |||||||||||||||||||||||||||||||||||||
| Preferred dividends | 2,138 | 2,138 | 2,138 | 2,138 | — | 6,414 | — | |||||||||||||||||||||||||||||||||||||
| Net Income Available to Common Shareholders | $ | 57,730 | $ | 57,397 | $ | 29,757 | $ | 32,122 | $ | 36,467 | $ | 144,884 | $ | 110,618 | ||||||||||||||||||||||||||||||
| Share Data | ||||||||||||||||||||||||||||||||||||||||||||
| Net income per share of common stock | ||||||||||||||||||||||||||||||||||||||||||||
| Diluted | $ | 0.55 | $ | 0.55 | $ | 0.29 | $ | 0.31 | $ | 0.42 | $ | 1.39 | $ | 1.28 | ||||||||||||||||||||||||||||||
Diluted, treating all convertible preferred shares as common1 | 0.55 | 0.55 | 0.29 | 0.31 | 0.42 | 1.39 | 1.28 | |||||||||||||||||||||||||||||||||||||
| Basic | $ | 0.56 | $ | 0.55 | $ | 0.30 | $ | 0.32 | $ | 0.42 | $ | 1.40 | $ | 1.30 | ||||||||||||||||||||||||||||||
| Average common shares outstanding | ||||||||||||||||||||||||||||||||||||||||||||
| Diluted | 97,237 | 97,250 | 97,838 | 97,761 | 87,425 | 97,487 | 86,154 | |||||||||||||||||||||||||||||||||||||
Additional common shares treating all convertible preferred shares as common1 | 11,250 | 11,250 | 11,250 | 11,250 | — | 11,250 | — | |||||||||||||||||||||||||||||||||||||
Diluted, treating all convertible preferred shares as common1 | 108,487 | 108,500 | 109,088 | 109,011 | 87,425 | 108,737 | 86,154 | |||||||||||||||||||||||||||||||||||||
| Basic | 96,269 | 96,438 | 96,840 | 96,816 | 86,619 | 96,514 | 85,398 | |||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||
| September 30, | June 30, | March 31, | December 31, | September 30, | |||||||||||||||||||||||||||||||
| (Amounts in thousands) | 2026 | 2026 | 2026 | 2025 | 2025 | ||||||||||||||||||||||||||||||
| Assets | |||||||||||||||||||||||||||||||||||
| Cash and due from banks | $ | 188,512 | $ | 191,965 | $ | 201,308 | $ | 181,429 | $ | 173,954 | |||||||||||||||||||||||||
| Interest-bearing deposits with other banks | 114,733 | 237,979 | 607,071 | 207,116 | 132,040 | ||||||||||||||||||||||||||||||
| Total cash and cash equivalents | 303,245 | 429,944 | 808,379 | 388,545 | 305,994 | ||||||||||||||||||||||||||||||
| Time deposits with other banks | 498 | 747 | 2,490 | 14,424 | 30,852 | ||||||||||||||||||||||||||||||
| Debt Securities: | |||||||||||||||||||||||||||||||||||
| Securities available-for-sale (at fair value) | 4,634,355 | 5,174,602 | 5,069,260 | 5,164,567 | 3,212,080 | ||||||||||||||||||||||||||||||
| Securities held-to-maturity (at amortized cost) | 552,982 | 564,067 | 576,155 | 586,178 | 598,604 | ||||||||||||||||||||||||||||||
| Total debt securities | 5,187,337 | 5,738,669 | 5,645,415 | 5,750,745 | 3,810,684 | ||||||||||||||||||||||||||||||
| Loans held for sale | 14,462 | 18,565 | 18,188 | 16,297 | 10,841 | ||||||||||||||||||||||||||||||
| Loans | 13,574,211 | 13,145,439 | 12,641,432 | 12,627,984 | 10,964,173 | ||||||||||||||||||||||||||||||
| Less: Allowance for credit losses | (191,355) | (182,050) | (176,252) | (178,803) | (147,453) | ||||||||||||||||||||||||||||||
| Loans, net of allowance for credit losses | 13,382,856 | 12,963,389 | 12,465,180 | 12,449,181 | 10,816,720 | ||||||||||||||||||||||||||||||
| Bank premises and equipment, net | 159,202 | 161,008 | 159,368 | 160,139 | 115,392 | ||||||||||||||||||||||||||||||
| Goodwill | 1,045,014 | 1,034,997 | 1,034,997 | 1,034,735 | 754,645 | ||||||||||||||||||||||||||||||
| Other intangible assets, net | 170,202 | 174,486 | 184,980 | 195,704 | 76,291 | ||||||||||||||||||||||||||||||
| Bank owned life insurance | 338,431 | 335,783 | 333,174 | 330,563 | 323,214 | ||||||||||||||||||||||||||||||
| Net deferred tax assets | 123,056 | 64,502 | 62,300 | 66,579 | 74,683 | ||||||||||||||||||||||||||||||
| Other assets | 469,063 | 437,982 | 430,676 | 435,419 | 357,588 | ||||||||||||||||||||||||||||||
| Total Assets | $ | 21,193,366 | $ | 21,360,072 | $ | 21,145,147 | $ | 20,842,331 | $ | 16,676,904 | |||||||||||||||||||||||||
| Liabilities | |||||||||||||||||||||||||||||||||||
| Deposits | |||||||||||||||||||||||||||||||||||
| Noninterest demand | $ | 4,191,935 | $ | 4,216,499 | $ | 4,176,854 | $ | 3,897,985 | $ | 3,611,920 | |||||||||||||||||||||||||
| Interest-bearing demand | 3,719,536 | 3,870,570 | 4,057,493 | 3,993,225 | 2,753,463 | ||||||||||||||||||||||||||||||
| Savings | 978,269 | 972,730 | 979,633 | 974,694 | 615,566 | ||||||||||||||||||||||||||||||
| Money market | 5,210,770 | 5,127,372 | 5,205,762 | 5,141,519 | 4,396,458 | ||||||||||||||||||||||||||||||
| Time deposits | 2,479,649 | 2,605,124 | 2,218,207 | 2,248,920 | 1,712,912 | ||||||||||||||||||||||||||||||
| Total Deposits | 16,580,159 | 16,792,295 | 16,637,949 | 16,256,343 | 13,090,319 | ||||||||||||||||||||||||||||||
| Securities sold under agreements to repurchase | 316,766 | 373,095 | 377,460 | 389,003 | 236,247 | ||||||||||||||||||||||||||||||
| Federal Home Loan Bank and other borrowings | 985,000 | 835,000 | 775,000 | 835,000 | 690,000 | ||||||||||||||||||||||||||||||
| Long-term debt, net | 112,985 | 112,910 | 112,836 | 112,761 | 107,464 | ||||||||||||||||||||||||||||||
| Other liabilities | 259,583 | 172,842 | 181,127 | 193,437 | 174,742 | ||||||||||||||||||||||||||||||
| Total Liabilities | 18,254,493 | 18,286,142 | 18,084,372 | 17,786,544 | 14,298,772 | ||||||||||||||||||||||||||||||
| Convertible Preferred Stock | 343,125 | 343,125 | 343,125 | 343,125 | — | ||||||||||||||||||||||||||||||
| Shareholders' Equity | |||||||||||||||||||||||||||||||||||
| Common stock | 9,888 | 9,878 | 9,878 | 9,873 | 8,864 | ||||||||||||||||||||||||||||||
| Additional paid in capital | 2,216,867 | 2,208,511 | 2,202,879 | 2,197,549 | 1,891,111 | ||||||||||||||||||||||||||||||
| Retained earnings | 692,658 | 653,623 | 614,853 | 603,793 | 590,384 | ||||||||||||||||||||||||||||||
| Less: Treasury stock | (63,498) | (57,137) | (31,373) | (21,358) | (20,804) | ||||||||||||||||||||||||||||||
| Total Shareholders' Equity Before Accumulated Other Comprehensive Loss | 2,855,915 | 2,814,875 | 2,796,237 | 2,789,857 | 2,469,555 | ||||||||||||||||||||||||||||||
| Accumulated other comprehensive loss, net | (260,167) | (84,070) | (78,587) | (77,195) | (91,423) | ||||||||||||||||||||||||||||||
| Total Shareholders' Equity | 2,595,748 | 2,730,805 | 2,717,650 | 2,712,662 | 2,378,132 | ||||||||||||||||||||||||||||||
| Total Liabilities, Convertible Preferred Stock and Shareholders' Equity | $ | 21,193,366 | $ | 21,360,072 | $ | 21,145,147 | $ | 20,842,331 | $ | 16,676,904 | |||||||||||||||||||||||||
| Common shares outstanding | 96,734 | 96,823 | 97,665 | 97,928 | 87,856 | ||||||||||||||||||||||||||||||
Additional common shares treating all convertible preferred shares as common1 | 11,250 | 11,250 | 11,250 | 11,250 | — | ||||||||||||||||||||||||||||||
| Total common shares outstanding, treating all convertible preferred shares as common | 107,984 | 108,073 | 108,915 | 109,178 | 87,856 | ||||||||||||||||||||||||||||||
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) | 3Q'26 | 2Q'26 | 1Q'26 | 4Q'25 | 3Q'25 | ||||||||||||||||||||||||
| Credit Analysis | |||||||||||||||||||||||||||||
| Net charge-offs | $ | 5,391 | $ | 3,199 | $ | 3,312 | $ | 936 | $ | 3,208 | |||||||||||||||||||
| Net charge-offs to average loans | 0.16 | % | 0.10 | % | 0.11 | % | 0.03 | % | 0.12 | % | |||||||||||||||||||
| Allowance for credit losses | $ | 191,355 | $ | 182,050 | $ | 176,252 | $ | 178,803 | $ | 147,453 | |||||||||||||||||||
| Non-acquired loans at end of period | 10,585,224 | 10,029,038 | 9,315,395 | 9,067,802 | 8,415,612 | ||||||||||||||||||||||||
| Acquired loans at end of period | 2,988,987 | 3,116,401 | 3,326,037 | 3,560,182 | 2,548,561 | ||||||||||||||||||||||||
| Total Loans | $ | 13,574,211 | $ | 13,145,439 | $ | 12,641,432 | $ | 12,627,984 | $ | 10,964,173 | |||||||||||||||||||
| Total allowance for credit losses to total loans at end of period | 1.41 | % | 1.38 | % | 1.39 | % | 1.42 | % | 1.34 | % | |||||||||||||||||||
| Purchase discount on acquired loans at end of period | 3.88 | 3.98 | 3.99 | 4.04 | 3.86 | ||||||||||||||||||||||||
| End of Period | |||||||||||||||||||||||||||||
| Nonperforming loans | $ | 73,283 | $ | 86,540 | $ | 95,032 | $ | 72,001 | $ | 60,562 | |||||||||||||||||||
| Other real estate owned | 3,263 | 3,473 | 4,250 | 4,250 | 5,085 | ||||||||||||||||||||||||
| Total Nonperforming Assets | $ | 76,546 | $ | 90,013 | $ | 99,282 | $ | 76,251 | $ | 65,647 | |||||||||||||||||||
| Nonperforming Loans to Loans at End of Period | 0.54 | % | 0.66 | % | 0.75 | % | 0.57 | % | 0.55 | % | |||||||||||||||||||
| Nonperforming Assets to Total Assets at End of Period | 0.36 | 0.42 | 0.47 | 0.37 | 0.39 | ||||||||||||||||||||||||
| Loans | September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||||||||||||||
| Construction and land development | $ | 946,988 | $ | 856,716 | $ | 745,362 | $ | 723,930 | $ | 616,475 | |||||||||||||||||||
| Commercial real estate - owner occupied | 2,177,048 | 2,121,853 | 2,021,885 | 2,043,625 | 1,898,704 | ||||||||||||||||||||||||
| Commercial real estate - non-owner occupied | 4,485,279 | 4,237,563 | 4,178,003 | 4,254,992 | 3,766,541 | ||||||||||||||||||||||||
| Residential real estate | 3,281,455 | 3,258,274 | 3,162,509 | 3,098,859 | 2,694,794 | ||||||||||||||||||||||||
| Commercial and financial | 2,490,919 | 2,477,326 | 2,353,118 | 2,320,989 | 1,807,932 | ||||||||||||||||||||||||
| Consumer | 192,522 | 193,707 | 180,555 | 185,589 | 179,727 | ||||||||||||||||||||||||
| Total Loans | $ | 13,574,211 | $ | 13,145,439 | $ | 12,641,432 | $ | 12,627,984 | $ | 10,964,173 | |||||||||||||||||||
AVERAGE BALANCES, INTEREST INCOME AND EXPENSES, YIELDS AND RATES1 | (Unaudited) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3Q'26 | 2Q'26 | 3Q'25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Average | Yield/ | Average | Yield/ | Average | Yield/ | |||||||||||||||||||||||||||||||||||||||||||||||||||
| (Amounts in thousands) | Balance | Interest | Rate | Balance | Interest | Rate | Balance | Interest | Rate | |||||||||||||||||||||||||||||||||||||||||||||||
| Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earning assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Securities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Taxable | $ | 5,190,690 | $ | 58,212 | 4.45 | % | $ | 5,392,894 | $ | 59,051 | 4.39 | % | $ | 3,644,261 | $ | 35,975 | 3.92 | % | ||||||||||||||||||||||||||||||||||||||
| Nontaxable | 327,915 | 4,719 | 5.71 | 330,322 | 4,727 | 5.74 | 6,752 | 54 | 3.17 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total Securities | 5,518,605 | 62,931 | 4.52 | 5,723,216 | 63,778 | 4.47 | 3,651,013 | 36,029 | 3.92 | |||||||||||||||||||||||||||||||||||||||||||||||
| Federal funds sold | 168,287 | 1,577 | 3.72 | 292,952 | 2,622 | 3.59 | 258,779 | 2,896 | 4.44 | |||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing deposits with other banks and other investments | 165,698 | 2,026 | 4.85 | 178,126 | 2,194 | 4.94 | 166,683 | 1,884 | 4.48 | |||||||||||||||||||||||||||||||||||||||||||||||
Total Loans, net2 | 13,341,725 | 198,111 | 5.89 | 12,862,053 | 188,712 | 5.88 | 10,805,143 | 162,341 | 5.96 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total Earning Assets | 19,194,315 | 264,645 | 5.47 | % | 19,056,347 | 257,306 | 5.42 | % | 14,881,618 | 203,150 | 5.42 | % | ||||||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses | (183,480) | (177,763) | (144,051) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash and due from banks | 194,192 | 187,161 | 166,884 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bank premises and equipment, net | 161,111 | 160,756 | 114,719 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible assets | 1,208,953 | 1,214,829 | 827,294 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bank owned life insurance | 336,807 | 334,159 | 321,754 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other assets including deferred tax assets | 395,196 | 350,290 | 317,799 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Assets | $ | 21,307,094 | $ | 21,125,779 | $ | 16,486,017 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Liabilities, Convertible Preferred Stock & Shareholders' Equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing demand | $ | 3,807,997 | $ | 10,059 | 1.05 | % | $ | 3,976,446 | $ | 11,108 | 1.12 | % | $ | 2,671,750 | $ | 10,623 | 1.58 | % | ||||||||||||||||||||||||||||||||||||||
| Savings | 977,608 | 1,536 | 0.62 | 976,058 | 1,300 | 0.53 | 617,479 | 1,111 | 0.71 | |||||||||||||||||||||||||||||||||||||||||||||||
| Money market | 5,220,359 | 33,900 | 2.58 | 5,124,668 | 31,793 | 2.49 | 4,362,662 | 31,393 | 2.85 | |||||||||||||||||||||||||||||||||||||||||||||||
| Time deposits | 2,541,031 | 21,650 | 3.38 | 2,324,117 | 18,663 | 3.22 | 1,826,068 | 16,341 | 3.55 | |||||||||||||||||||||||||||||||||||||||||||||||
| Securities sold under agreements to repurchase | 353,074 | 1,994 | 2.24 | 344,612 | 1,889 | 2.20 | 224,328 | 1,359 | 2.40 | |||||||||||||||||||||||||||||||||||||||||||||||
| Federal Home Loan Bank and other borrowings | 862,109 | 8,331 | 3.83 | 915,000 | 8,608 | 3.77 | 637,826 | 6,703 | 4.17 | |||||||||||||||||||||||||||||||||||||||||||||||
| Long-term debt, net and other | 112,941 | 1,821 | 6.40 | 112,867 | 1,795 | 6.38 | 107,372 | 1,714 | 6.33 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total Interest-Bearing Liabilities | 13,875,119 | 79,291 | 2.27 | % | 13,773,768 | 75,156 | 2.19 | % | 10,447,485 | 69,244 | 2.63 | % | ||||||||||||||||||||||||||||||||||||||||||||
| Noninterest demand | 4,152,498 | 4,112,281 | 3,541,749 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other liabilities | 208,520 | 164,252 | 151,550 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities | 18,236,137 | 18,050,301 | 14,140,784 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Convertible preferred stock | 343,125 | 343,125 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Shareholders' equity | 2,727,832 | 2,732,353 | 2,345,233 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities, Convertible Preferred Stock & Equity | $ | 21,307,094 | $ | 21,125,779 | $ | 16,486,017 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Cost of deposits | 1.60 | % | 1.53 | % | 1.81 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of funds3 | 1.74 | 1.69 | 1.96 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest expense as a % of earning assets | 1.64 | 1.58 | 1.85 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net interest income as a % of earning assets | $ | 185,354 | 3.83 | % | $ | 182,150 | 3.83 | % | $ | 133,906 | 3.57 | % | ||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2026 | Nine Months Ended September 30, 2025 | |||||||||||||||||||||||||||||||||||||
| Average | Yield/ | Average | Yield/ | |||||||||||||||||||||||||||||||||||
| (Amounts in thousands, except ratios) | Balance | Interest | Rate | Balance | Interest | Rate | ||||||||||||||||||||||||||||||||
| Assets | ||||||||||||||||||||||||||||||||||||||
| Earning assets: | ||||||||||||||||||||||||||||||||||||||
| Securities: | ||||||||||||||||||||||||||||||||||||||
| Taxable | $ | 5,313,350 | $ | 173,842 | 4.37 | % | $ | 3,362,823 | $ | 97,835 | 3.89 | % | ||||||||||||||||||||||||||
| Nontaxable | 330,520 | 14,147 | 5.72 | 5,841 | 136 | 3.11 | ||||||||||||||||||||||||||||||||
| Total Securities | 5,643,870 | 187,989 | 4.45 | 3,368,664 | 97,971 | 3.89 | ||||||||||||||||||||||||||||||||
| Federal funds sold | 257,199 | 6,939 | 3.61 | 235,825 | 7,882 | 4.47 | ||||||||||||||||||||||||||||||||
| Interest-bearing deposits with other banks and other investments | 177,487 | 6,364 | 4.79 | 136,760 | 4,858 | 4.75 | ||||||||||||||||||||||||||||||||
Total Loans, net2 | 12,960,775 | 573,049 | 5.91 | 10,584,090 | 470,812 | 5.95 | ||||||||||||||||||||||||||||||||
| Total Earning Assets | 19,039,331 | 774,341 | 5.44 | % | 14,325,339 | 581,523 | 5.43 | % | ||||||||||||||||||||||||||||||
| Allowance for credit losses | (180,248) | (141,285) | ||||||||||||||||||||||||||||||||||||
| Cash and due from banks | 187,380 | 159,428 | ||||||||||||||||||||||||||||||||||||
| Bank premises and equipment, net | 161,789 | 110,548 | ||||||||||||||||||||||||||||||||||||
| Intangible assets | 1,216,400 | 808,564 | ||||||||||||||||||||||||||||||||||||
| Bank owned life insurance | 334,184 | 314,700 | ||||||||||||||||||||||||||||||||||||
| Other assets including deferred tax assets | 361,829 | 320,985 | ||||||||||||||||||||||||||||||||||||
| Total Assets | $ | 21,120,665 | $ | 15,898,279 | ||||||||||||||||||||||||||||||||||
| Liabilities, Convertible Preferred Stock & Shareholders' Equity | ||||||||||||||||||||||||||||||||||||||
| Interest-bearing liabilities: | ||||||||||||||||||||||||||||||||||||||
| Interest-bearing demand | $ | 3,923,032 | $ | 32,696 | 1.11 | % | $ | 2,666,794 | $ | 31,941 | 1.60 | % | ||||||||||||||||||||||||||
| Savings | 975,415 | 4,096 | 0.56 | 564,624 | 2,690 | 0.64 | ||||||||||||||||||||||||||||||||
| Money market | 5,174,167 | 97,490 | 2.52 | 4,212,205 | 92,760 | 2.94 | ||||||||||||||||||||||||||||||||
| Time deposits | 2,350,192 | 57,896 | 3.29 | 1,725,364 | 46,434 | 3.60 | ||||||||||||||||||||||||||||||||
| Securities sold under agreements to repurchase | 348,772 | 5,736 | 2.20 | 203,943 | 3,930 | 2.58 | ||||||||||||||||||||||||||||||||
| Federal Home Loan Bank and other borrowings | 874,832 | 25,368 | 3.88 | 582,565 | 18,584 | 4.27 | ||||||||||||||||||||||||||||||||
| Long-term debt, net and other | 112,876 | 5,401 | 6.40 | 107,207 | 5,126 | 6.39 | ||||||||||||||||||||||||||||||||
| Total Interest-Bearing Liabilities | 13,759,286 | 228,683 | 2.22 | % | 10,062,702 | 201,465 | 2.68 | % | ||||||||||||||||||||||||||||||
| Noninterest demand | 4,093,867 | 3,413,252 | ||||||||||||||||||||||||||||||||||||
| Other liabilities | 184,227 | 151,036 | ||||||||||||||||||||||||||||||||||||
| Total Liabilities | 18,037,380 | 13,626,990 | ||||||||||||||||||||||||||||||||||||
| Convertible preferred stock | 343,125 | — | ||||||||||||||||||||||||||||||||||||
| Shareholders' equity | 2,740,160 | 2,271,289 | ||||||||||||||||||||||||||||||||||||
| Total Liabilities, Convertible Preferred Stock & Equity | $ | 21,120,665 | $ | 15,898,279 | ||||||||||||||||||||||||||||||||||
| Cost of deposits | 1.56 | % | 1.85 | % | ||||||||||||||||||||||||||||||||||
Cost of funds3 | 1.71 | 2.00 | ||||||||||||||||||||||||||||||||||||
| Interest expense as a % of earning assets | 1.61 | 1.88 | ||||||||||||||||||||||||||||||||||||
| Net interest income as a % of earning assets | $ | 545,658 | 3.83 | % | $ | 380,058 | 3.55 | % | ||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||
| September 30, | June 30, | March 31, | December 31, | September 30, | ||||||||||||||||||||||||||||||||||
| (Amounts in thousands) | 2026 | 2026 | 2026 | 2025 | 2025 | |||||||||||||||||||||||||||||||||
| Customer Relationship Funding | ||||||||||||||||||||||||||||||||||||||
| Noninterest demand | ||||||||||||||||||||||||||||||||||||||
| Commercial | $ | 3,358,568 | $ | 3,369,981 | $ | 3,328,553 | $ | 3,053,115 | $ | 2,933,228 | ||||||||||||||||||||||||||||
| Retail | 675,411 | 665,430 | 676,152 | 672,779 | 508,204 | |||||||||||||||||||||||||||||||||
| Public funds | 72,972 | 95,381 | 95,841 | 112,548 | 96,396 | |||||||||||||||||||||||||||||||||
| Other | 84,984 | 85,707 | 76,308 | 59,543 | 74,092 | |||||||||||||||||||||||||||||||||
| Total Noninterest Demand | 4,191,935 | 4,216,499 | 4,176,854 | 3,897,985 | 3,611,920 | |||||||||||||||||||||||||||||||||
| Interest-bearing demand | ||||||||||||||||||||||||||||||||||||||
| Commercial | 1,551,480 | 1,573,655 | 1,627,444 | 1,534,289 | 1,586,997 | |||||||||||||||||||||||||||||||||
| Retail | 1,977,618 | 2,019,505 | 2,126,907 | 2,047,462 | 976,318 | |||||||||||||||||||||||||||||||||
| Public funds | 190,438 | 277,410 | 303,142 | 411,474 | 190,148 | |||||||||||||||||||||||||||||||||
| Total Interest-Bearing Demand | 3,719,536 | 3,870,570 | 4,057,493 | 3,993,225 | 2,753,463 | |||||||||||||||||||||||||||||||||
| Total transaction accounts | ||||||||||||||||||||||||||||||||||||||
| Commercial | 4,910,048 | 4,943,636 | 4,955,997 | 4,587,404 | 4,520,225 | |||||||||||||||||||||||||||||||||
| Retail | 2,653,029 | 2,684,935 | 2,803,059 | 2,720,241 | 1,484,522 | |||||||||||||||||||||||||||||||||
| Public funds | 263,410 | 372,791 | 398,983 | 524,022 | 286,544 | |||||||||||||||||||||||||||||||||
| Other | 84,984 | 85,707 | 76,308 | 59,543 | 74,092 | |||||||||||||||||||||||||||||||||
| Total Transaction Accounts | 7,911,471 | 8,087,069 | 8,234,347 | 7,891,210 | 6,365,383 | |||||||||||||||||||||||||||||||||
| Savings | ||||||||||||||||||||||||||||||||||||||
| Commercial | 42,052 | 40,787 | 40,481 | 43,189 | 43,102 | |||||||||||||||||||||||||||||||||
| Retail | 936,217 | 931,943 | 939,152 | 931,505 | 572,464 | |||||||||||||||||||||||||||||||||
| Total Savings | 978,269 | 972,730 | 979,633 | 974,694 | 615,566 | |||||||||||||||||||||||||||||||||
| Money market | ||||||||||||||||||||||||||||||||||||||
| Commercial | 2,527,339 | 2,444,562 | 2,396,144 | 2,334,255 | 2,303,584 | |||||||||||||||||||||||||||||||||
| Retail | 2,490,837 | 2,493,658 | 2,609,435 | 2,584,398 | 1,898,375 | |||||||||||||||||||||||||||||||||
| Public funds | 192,594 | 189,152 | 200,183 | 222,866 | 194,499 | |||||||||||||||||||||||||||||||||
| Total Money Market | 5,210,770 | 5,127,372 | 5,205,762 | 5,141,519 | 4,396,458 | |||||||||||||||||||||||||||||||||
| Brokered time certificates | 452,610 | 611,578 | 209,281 | 120,865 | 189,561 | |||||||||||||||||||||||||||||||||
| Time deposits | 2,027,039 | 1,993,546 | 2,008,926 | 2,128,055 | 1,523,351 | |||||||||||||||||||||||||||||||||
| Total Time Deposits | 2,479,649 | 2,605,124 | 2,218,207 | 2,248,920 | 1,712,912 | |||||||||||||||||||||||||||||||||
| Total Deposits | 16,580,159 | 16,792,295 | 16,637,949 | 16,256,343 | 13,090,319 | |||||||||||||||||||||||||||||||||
| Securities sold under agreements to repurchase | 316,766 | 373,095 | 377,460 | 389,003 | 236,247 | |||||||||||||||||||||||||||||||||
Total customer funding1 | $ | 16,444,315 | $ | 16,553,812 | $ | 16,806,128 | $ | 16,524,481 | $ | 13,137,005 | ||||||||||||||||||||||||||||
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 Trends | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||
| (Amounts in thousands, except per share data) | 3Q'26 | 2Q'26 | 1Q'26 | 4Q'25 | 3Q'25 | 3Q'26 | 3Q'25 | |||||||||||||||||||||||||||||||||||||
| Net income | $ | 59,868 | $ | 59,535 | $ | 31,895 | $ | 34,260 | $ | 36,467 | $ | 151,298 | $ | 110,618 | ||||||||||||||||||||||||||||||
| Total noninterest income (loss) | 31,602 | 27,778 | (12,614) | 28,631 | 23,818 | 46,766 | 70,519 | |||||||||||||||||||||||||||||||||||||
| Securities losses (gains), net | 539 | 59 | 39,528 | (84) | 841 | 40,126 | 606 | |||||||||||||||||||||||||||||||||||||
| Total adjusted noninterest income | 32,141 | 27,837 | 26,914 | 28,547 | 24,659 | 86,892 | 71,125 | |||||||||||||||||||||||||||||||||||||
| Total noninterest expense | 133,325 | 123,110 | 122,171 | 130,546 | 101,987 | 378,606 | 284,314 | |||||||||||||||||||||||||||||||||||||
| Merger and integration costs | (15,506) | (8,358) | (8,536) | (18,142) | (10,808) | (32,400) | (14,281) | |||||||||||||||||||||||||||||||||||||
| Adjusted noninterest expense | 117,819 | 114,752 | 113,635 | 112,404 | 91,179 | 346,206 | 270,033 | |||||||||||||||||||||||||||||||||||||
| Income taxes | 15,467 | 16,531 | 9,029 | 9,192 | 10,461 | 41,027 | 32,436 | |||||||||||||||||||||||||||||||||||||
| Tax effect of adjustments | 4,067 | 2,133 | 12,182 | 4,577 | 2,952 | 18,382 | 3,773 | |||||||||||||||||||||||||||||||||||||
| Adjusted income taxes | 19,534 | 18,664 | 21,211 | 13,769 | 13,413 | 59,409 | 36,209 | |||||||||||||||||||||||||||||||||||||
| Adjusted net income | 71,846 | 65,819 | 67,777 | 47,741 | 45,164 | 205,442 | 121,732 | |||||||||||||||||||||||||||||||||||||
| Earnings per common share-diluted, as reported | 0.55 | 0.55 | 0.29 | 0.31 | 0.42 | 1.39 | 1.28 | |||||||||||||||||||||||||||||||||||||
| Adjusted earnings per common share-diluted | $ | 0.66 | $ | 0.61 | $ | 0.62 | $ | 0.44 | $ | 0.52 | $ | 1.89 | $ | 1.41 | ||||||||||||||||||||||||||||||
| Average common shares-diluted | 97,237 | 97,250 | 97,838 | 97,761 | 87,425 | 97,487 | 86,154 | |||||||||||||||||||||||||||||||||||||
| Average preferred shares, treating all convertible preferred shares as common | 11,250 | 11,250 | 11,250 | 11,250 | — | 11,250 | — | |||||||||||||||||||||||||||||||||||||
| Average common shares-diluted, treating all convertible preferred shares as common | 108,487 | 108,500 | 109,088 | 109,011 | 87,425 | 108,737 | 86,154 | |||||||||||||||||||||||||||||||||||||
| Adjusted noninterest expense | $ | 117,819 | $ | 114,752 | $ | 113,635 | $ | 112,404 | $ | 91,179 | $ | 346,206 | $ | 270,033 | ||||||||||||||||||||||||||||||
| Provision for credit losses on unfunded commitments | (150) | (150) | (150) | (812) | (150) | (450) | (450) | |||||||||||||||||||||||||||||||||||||
| Other real estate owned expense and net (loss) gain on sale | (497) | (85) | (63) | 29 | 346 | (645) | 97 | |||||||||||||||||||||||||||||||||||||
| Amortization of intangibles | (9,934) | (9,960) | (10,098) | (10,374) | (6,005) | (29,992) | (16,445) | |||||||||||||||||||||||||||||||||||||
| Net adjusted noninterest expense | 107,238 | 104,557 | 103,324 | 101,247 | 85,370 | 315,119 | 253,235 | |||||||||||||||||||||||||||||||||||||
| Average tangible assets | $ | 20,098,141 | $ | 19,910,950 | $ | 19,699,325 | $ | 19,976,896 | $ | 15,658,723 | $ | 19,904,265 | $ | 15,089,715 | ||||||||||||||||||||||||||||||
| Net adjusted noninterest expense to average tangible assets | 2.12 | % | 2.11 | % | 2.13 | % | 2.01 | % | 2.16 | % | 2.12 | % | 2.24 | % | ||||||||||||||||||||||||||||||
| Net revenue | $ | 214,957 | $ | 208,173 | $ | 163,856 | $ | 203,258 | $ | 157,286 | $ | 586,986 | $ | 449,368 | ||||||||||||||||||||||||||||||
| Total adjustments to net revenue | 539 | 59 | 39,528 | (84) | 841 | 40,126 | 606 | |||||||||||||||||||||||||||||||||||||
| Impact of FTE adjustment | 1,999 | 1,755 | 1,684 | 1,617 | 438 | 5,438 | 1,209 | |||||||||||||||||||||||||||||||||||||
| Adjusted net revenue on a FTE basis | $ | 217,495 | $ | 209,987 | $ | 205,068 | $ | 204,791 | $ | 158,565 | $ | 632,550 | $ | 451,183 | ||||||||||||||||||||||||||||||
| Adjusted efficiency ratio | 53.87 | % | 54.54 | % | 55.31 | % | 54.50 | % | 57.63 | % | 54.56 | % | 59.77 | % | ||||||||||||||||||||||||||||||
| Net interest income | $ | 183,355 | $ | 180,395 | $ | 176,470 | $ | 174,627 | $ | 133,468 | $ | 540,220 | $ | 378,849 | ||||||||||||||||||||||||||||||
| Impact of FTE adjustment | 1,999 | 1,755 | 1,684 | 1,617 | 438 | 5,438 | 1,209 | |||||||||||||||||||||||||||||||||||||
| Net interest income including FTE adjustment | 185,354 | 182,150 | 178,154 | 176,244 | 133,906 | 545,658 | 380,058 | |||||||||||||||||||||||||||||||||||||
| Total noninterest income (loss) | 31,602 | 27,778 | (12,614) | 28,631 | 23,818 | 46,766 | 70,519 | |||||||||||||||||||||||||||||||||||||
| Total noninterest expense less provision for credit losses on unfunded commitments | 133,175 | 122,960 | 122,021 | 129,734 | 101,837 | 378,156 | 283,864 | |||||||||||||||||||||||||||||||||||||
| Pre-tax pre-provision earnings | 83,781 | 86,968 | 43,519 | 75,141 | 55,887 | 214,268 | 166,713 | |||||||||||||||||||||||||||||||||||||
| Total adjustments to noninterest income (loss) | 539 | 59 | 39,528 | (84) | 841 | 40,126 | 606 | |||||||||||||||||||||||||||||||||||||
| Total adjustments to noninterest expense including other real estate owned expense and net (loss) gain on sale | 16,003 | 8,443 | 8,599 | 18,113 | 10,462 | 33,045 | 14,184 | |||||||||||||||||||||||||||||||||||||
| Adjusted pre-tax pre-provision earnings | $ | 100,323 | $ | 95,470 | $ | 91,646 | $ | 93,170 | $ | 67,190 | $ | 287,439 | $ | 181,503 | ||||||||||||||||||||||||||||||
| GAAP TO NON-GAAP RECONCILIATION | (Unaudited) | |||||||||||||||||||||||||||||||||||||||||||
| SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||||
| Quarterly Trends | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||
| (Amounts in thousands, except per share data) | 3Q'26 | 2Q'26 | 1Q'26 | 4Q'25 | 3Q'25 | 3Q'26 | 3Q'25 | |||||||||||||||||||||||||||||||||||||
| Average assets | $ | 21,307,094 | $ | 21,125,779 | $ | 20,924,927 | $ | 21,203,391 | $ | 16,486,017 | $ | 21,120,665 | $ | 15,898,279 | ||||||||||||||||||||||||||||||
| Less average goodwill and intangible assets | (1,208,953) | (1,214,829) | (1,225,602) | (1,226,495) | (827,294) | (1,216,400) | (808,564) | |||||||||||||||||||||||||||||||||||||
| Average tangible assets | $ | 20,098,141 | $ | 19,910,950 | $ | 19,699,325 | $ | 19,976,896 | $ | 15,658,723 | $ | 19,904,265 | $ | 15,089,715 | ||||||||||||||||||||||||||||||
| Return on average assets (ROA) | 1.11 | % | 1.13 | % | 0.62 | % | 0.64 | % | 0.88 | % | 0.96 | % | 0.93 | % | ||||||||||||||||||||||||||||||
| Impact of other adjustments for adjusted net income | 0.23 | 0.12 | 0.69 | 0.25 | 0.21 | 0.34 | 0.09 | |||||||||||||||||||||||||||||||||||||
| Adjusted ROA | 1.34 | 1.25 | 1.31 | 0.89 | 1.09 | 1.30 | 1.02 | |||||||||||||||||||||||||||||||||||||
| ROA | 1.11 | 1.13 | 0.62 | 0.64 | 0.88 | 0.96 | 0.93 | |||||||||||||||||||||||||||||||||||||
| Impact of removing average intangible assets and related amortization | 0.22 | 0.22 | 0.19 | 0.19 | 0.16 | 0.21 | 0.16 | |||||||||||||||||||||||||||||||||||||
| Return on average tangible assets (ROTA) | 1.33 | 1.35 | 0.81 | 0.83 | 1.04 | 1.17 | 1.09 | |||||||||||||||||||||||||||||||||||||
| Impact of other adjustments for adjusted net income | 0.23 | 0.13 | 0.74 | 0.27 | 0.22 | 0.36 | 0.10 | |||||||||||||||||||||||||||||||||||||
| Adjusted ROTA | 1.56 | 1.48 | 1.55 | 1.10 | 1.26 | 1.53 | 1.19 | |||||||||||||||||||||||||||||||||||||
| Return on average equity (ROE) | 8.71 | 8.74 | 4.69 | 4.99 | 6.17 | 7.38 | 6.51 | |||||||||||||||||||||||||||||||||||||
| Impact of other adjustments for adjusted net income | 1.74 | 0.92 | 5.27 | 1.96 | 1.47 | 2.64 | 0.65 | |||||||||||||||||||||||||||||||||||||
| Adjusted ROE | 10.45 | % | 9.66 | % | 9.96 | % | 6.95 | % | 7.64 | % | 10.02 | % | 7.17 | % | ||||||||||||||||||||||||||||||
| Average shareholders' equity | $ | 2,727,832 | $ | 2,732,353 | $ | 2,760,656 | $ | 2,724,208 | $ | 2,345,233 | $ | 2,740,160 | $ | 2,271,289 | ||||||||||||||||||||||||||||||
| Average convertible preferred stock | 343,125 | 343,125 | 343,125 | 343,125 | — | 343,125 | — | |||||||||||||||||||||||||||||||||||||
| Less average goodwill and intangible assets | (1,208,953) | (1,214,829) | (1,225,602) | (1,226,495) | (827,294) | (1,216,400) | (808,564) | |||||||||||||||||||||||||||||||||||||
| Average tangible equity | $ | 1,862,004 | $ | 1,860,649 | $ | 1,878,179 | $ | 1,840,838 | $ | 1,517,939 | $ | 1,866,885 | $ | 1,462,725 | ||||||||||||||||||||||||||||||
| ROE | 8.71 | % | 8.74 | % | 4.69 | % | 4.99 | % | 6.17 | % | 7.38 | % | 6.51 | % | ||||||||||||||||||||||||||||||
| Impact of adding convertible preferred stock and removing average intangible assets and related amortization | 5.63 | 5.70 | 3.82 | 4.06 | 4.53 | 5.06 | 4.72 | |||||||||||||||||||||||||||||||||||||
| Return on average tangible equity (ROTE) | 14.34 | 14.44 | 8.51 | 9.05 | 10.70 | 12.44 | 11.23 | |||||||||||||||||||||||||||||||||||||
| Impact of other adjustments for adjusted net income | 2.55 | 1.35 | 7.75 | 2.91 | 2.28 | 3.88 | 1.02 | |||||||||||||||||||||||||||||||||||||
| Adjusted ROTE | 16.89 | % | 15.79 | % | 16.26 | % | 11.96 | % | 12.98 | % | 16.32 | % | 12.25 | % | ||||||||||||||||||||||||||||||
Loan interest income1 | $ | 198,111 | $ | 188,712 | $ | 186,227 | $ | 187,910 | $ | 162,341 | $ | 573,049 | $ | 470,812 | ||||||||||||||||||||||||||||||
| Accretion on acquired loans | (8,493) | (8,901) | (12,094) | (10,645) | (9,543) | (29,488) | (28,347) | |||||||||||||||||||||||||||||||||||||
Loan interest income excluding accretion on acquired loans1 | $ | 189,618 | $ | 179,811 | $ | 174,133 | $ | 177,265 | $ | 152,798 | $ | 543,561 | $ | 442,465 | ||||||||||||||||||||||||||||||
Yield on loans1 | 5.89 | % | 5.88 | % | 5.96 | % | 6.02 | % | 5.96 | % | 5.91 | % | 5.95 | % | ||||||||||||||||||||||||||||||
| Impact of accretion on acquired loans | (0.25) | (0.27) | (0.39) | (0.34) | (0.35) | (0.30) | (0.36) | |||||||||||||||||||||||||||||||||||||
Yield on loans excluding accretion on acquired loans1 | 5.64 | % | 5.61 | % | 5.57 | % | 5.68 | % | 5.61 | % | 5.61 | % | 5.59 | % | ||||||||||||||||||||||||||||||
Net interest income1 | $ | 185,354 | $ | 182,150 | $ | 178,154 | $ | 176,244 | $ | 133,906 | $ | 545,658 | $ | 380,058 | ||||||||||||||||||||||||||||||
| Accretion on acquired loans | (8,493) | (8,901) | (12,094) | (10,645) | (9,543) | (29,488) | (28,347) | |||||||||||||||||||||||||||||||||||||
Net interest income excluding accretion on acquired loans1 | $ | 176,861 | $ | 173,249 | $ | 166,060 | $ | 165,599 | $ | 124,363 | $ | 516,170 | $ | 351,711 | ||||||||||||||||||||||||||||||
Net interest margin1 | 3.83 | % | 3.83 | % | 3.83 | % | 3.66 | % | 3.57 | % | 3.83 | % | 3.55 | % | ||||||||||||||||||||||||||||||
| Impact of accretion on acquired loans | (0.17) | (0.18) | (0.26) | (0.22) | (0.25) | (0.21) | (0.27) | |||||||||||||||||||||||||||||||||||||
Net interest margin excluding accretion on acquired loans1 | 3.66 | % | 3.65 | % | 3.57 | % | 3.44 | % | 3.32 | % | 3.62 | % | 3.28 | % | ||||||||||||||||||||||||||||||
Securities interest income1 | $ | 62,931 | $ | 63,778 | $ | 61,279 | $ | 57,852 | $ | 36,029 | $ | 187,989 | $ | 97,971 | ||||||||||||||||||||||||||||||
| Tax equivalent adjustment on securities | (1,202) | (1,204) | (1,188) | (1,114) | (10) | (3,594) | (25) | |||||||||||||||||||||||||||||||||||||
| Securities interest income excluding tax equivalent adjustment | 61,729 | 62,574 | 60,091 | 56,738 | 36,019 | 184,395 | 97,946 | |||||||||||||||||||||||||||||||||||||
Loan interest income1 | 198,111 | 188,712 | 186,227 | 187,910 | 162,341 | 573,049 | 470,812 | |||||||||||||||||||||||||||||||||||||
| Tax equivalent adjustment on loans | (797) | (551) | (496) | (503) | (428) | (1,844) | (1,184) | |||||||||||||||||||||||||||||||||||||
| Loan interest income excluding tax equivalent adjustment | 197,314 | 188,161 | 185,731 | 187,407 | 161,913 | 571,205 | 469,628 | |||||||||||||||||||||||||||||||||||||
Net interest income1 | 185,354 | 182,150 | 178,154 | 176,243 | 133,906 | 545,658 | 380,058 | |||||||||||||||||||||||||||||||||||||
| Tax equivalent adjustment on securities | (1,202) | (1,204) | (1,188) | (1,114) | (10) | (3,594) | (25) | |||||||||||||||||||||||||||||||||||||
| Tax equivalent adjustment on loans | (797) | (551) | (496) | (503) | (428) | (1,844) | (1,184) | |||||||||||||||||||||||||||||||||||||
| Net interest income excluding tax equivalent adjustments | $ | 183,355 | $ | 180,395 | $ | 176,470 | $ | 174,626 | $ | 133,468 | $ | 540,220 | $ | 378,849 | ||||||||||||||||||||||||||||||
1On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost. | ||||||||||||||||||||||||||||||||||||||||||||
EARNINGS PRESENTATION THIRD QUARTER 2026 2026
2THIRD QUARTER 2026 EARNINGS PRESENTATION This presentation 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. (“VBI”)) 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 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. Cautionary Notice Regarding Forward-Looking Statements
3THIRD QUARTER 2026 EARNINGS PRESENTATION • Sustained, strong presence in Florida’s most attractive markets and recent expansion into the greater Atlanta market • #15 Florida market share ▪ #1 Florida-based bank in Orlando MSA ▪ #1 Florida-based bank in 12 counties in Florida ▪ #1 overall market share in Port St. Lucie and Wildwood-The Villages MSA • Exceptionally strong balance sheet, with industry leading capital and liquidity position ▪ 14.1%1 Tier 1 capital ratio ▪ 82% loan-to-deposit ratio Valuable Footprint with Strong Capital and Liquidity 1Estimated Counties with Seacoast Customers Counties with Seacoast Locations* Branches (105) Headquarters
4THIRD QUARTER 2026 EARNINGS PRESENTATION • Net income of $59.9 million, or $0.55 per share, increased 1% from the prior quarter and 64% from the prior year quarter. Adjusted net income1 of $71.8 million, or $0.66 per share, increased 9% from the prior quarter and 59% from the prior year quarter. • Adjusted pre-tax pre-provision earnings1 increased 5% from the prior quarter and 49% from the prior year quarter. • Net interest income grew 2% from the prior quarter and 37% from the prior year quarter. • The net interest margin was stable at 3.83% compared to the prior quarter and, excluding accretion on acquired loans, net interest margin expanded one basis point to 3.66%. • Return on average assets was 1.11% and adjusted return on average assets1 was 1.34%, compared to 1.25% in the prior quarter. • 13% annualized organic loan growth in the third quarter and 10% annualized growth year to date. • Average noninterest-bearing deposits grew 4% annualized from the prior quarter and noninterest- bearing demand deposits have grown 10% annualized year to date. • Return on average tangible shareholders' equity was 14.34% and adjusted return on average tangible shareholders' equity1 was 16.89%, compared to 15.79% in the prior quarter. • Strong capital position, with a Tier 1 capital ratio of 14.1%2. • Continued share repurchases, with over 1.2 million shares of common stock repurchased year to date. Third Quarter 2026 Highlights 1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP. 2Estimated
5THIRD QUARTER 2026 EARNINGS PRESENTATION Net Interest Income and Net Interest Margin ($ in m ill io ns ) $133.9 $176.2 $178.2 $182.2 $185.4 3.57% 3.66% 3.83% 3.83% 3.83% 3.32% 3.44% 3.57% 3.65% 3.66% Net Interest Income Net Interest Margin NIM, excluding accretion on acquired loans 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 Net interest income1 totaled $185.4 million, an increase of $3.2 million, or 2%, from the prior quarter. Net interest margin was stable at 3.83%. Excluding the effect of accretion on acquired loans, net interest margin expanded one basis point to 3.66%. Securities yields increased five basis points from the prior quarter to 4.52%. Loan yields increased one basis point from the prior quarter to 5.89%. Excluding the effect of accretion on acquired loans, loan yields increased three basis points to 5.64%. The cost of deposits increased seven basis points to 1.60% and the cost of funds increased five basis points to 1.74%. 1 1Calculated on a fully taxable equivalent basis using amortized cost.
6THIRD QUARTER 2026 EARNINGS PRESENTATION $23.8 $28.6 $(12.6) $27.8 $31.6 $24.7 $28.5 $26.9 $27.8 $32.1 Noninterest income Adjusted noninterest income 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 Noninterest income totaled $31.6 million, an increase of $3.8 million, or 14%, from the prior quarter. Adjusted noninterest income1 increased $4.3 million, or 15%, from the prior quarter to $32.1 million. Changes from the prior quarter included: Wealth management income totaled $6.1 million, an increase of $0.1 million, or 2%. Assets under management have grown 29% year-over- year. Mortgage banking income totaled $4.7 million, an increase of $2.0 million, or 73%, with higher interest rates driving higher values on mortgage servicing rights, offsetting declines recognized earlier in 2026. Insurance agency income totaled $1.8 million, an increase of $0.5 million, or 38%, reflecting continued growth in the business including a small agency acquisition completed in the third quarter of 2026. Other income totaled $7.5 million, an increase of $1.4 million, or 24%, primarily due to higher swap and syndication fees, higher gains on SBA loan sales and higher unrealized gains on SBIC investments. ($ in millions) 1 Strategic repositioning of the securities portfolio in 1Q’26 resulted in a $39.5 million loss. Noninterest Income 1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP.
7THIRD QUARTER 2026 EARNINGS PRESENTATION $1,387 $1,711 $2,053 $2,808 $3,184 2022 2023 2024 2025 3Q’26 Growth in Wealth Management Assets under management totaled $3.2 billion at September 30, 2026, increasing 29% year-over- year. $574 million in new organic assets under management year-to-date in 2026 driven by both new and expanding existing client relationships. Since 2022, assets under management have increased at a compound annual growth rate (“CAGR”) of 22%. 22% CAGR Assets Under Management End-of-Period ($ in millions)
8THIRD QUARTER 2026 EARNINGS PRESENTATION $91.2 $112.4 $113.6 $114.8 $117.8 57.6% 54.5% 55.3% 54.5% 53.9% Adjusted noninterest expense Adjusted Efficiency Ratio Total Assets 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 Noninterest Expense Noninterest expense was $133.3 million in the third quarter of 2026, an increase of $10.2 million, or 8%, compared to the prior quarter, and an increase of $31.3 million, or 31%, compared to the prior year quarter. Merger and integration costs totaled $15.5 million, compared to $8.4 million in the prior quarter and $10.8 million in the prior year quarter. Results for the third quarter of 2026 included: • Salaries and employee benefits totaled $63.4 million, an increase of $0.3 million, or 1%, from the prior quarter and an increase of $9.7 million, or 18%, from the prior year quarter. • Outsourced data processing costs totaled $12.5 million, an increase of $0.2 million, or 2%, from the prior quarter and an increase of $3.1 million, or 34%, from the prior year quarter. • Occupancy and furniture and equipment expenses totaled $12.5 million, an increase of $0.1 million, or 1%, compared to the prior quarter and an increase of $2.7 million, or 27%, from the prior year quarter. • Legal and professional fees totaled $2.7 million, an increase of $0.2 million, or 10%, compared to the prior quarter and an increase of $1.1 million, or 63%, from the prior year quarter. • Amortization of intangibles totaled $9.9 million, consistent with the prior quarter and an increase of $3.9 million, or 65%, from the prior year quarter. • Other expenses totaled $9.4 million, an increase of $1.4 million, or 17%, compared to the prior quarter and an increase of $3.6 million, or 60%, from the prior year quarter. ($ in millions) $102.0 $130.5 $122.2 $123.1 $133.3 64.4% 63.4% 59.5% 58.5% 61.0% Noninterest expense Efficiency Ratio Total Assets 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 Noninterest Expense $16,677 $20,842 $21,145 $21,360 $21,193 Adjusted Noninterest Expense1 $16,677 $20,842 $21,145 $21,360 $21,193 1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP.
9THIRD QUARTER 2026 EARNINGS PRESENTATION $10,964 $12,628 $12,641 $13,145 $13,574 5.96% 6.02% 5.96% 5.88% 5.89% 5.61% 5.68% 5.57% 5.61% 5.64% Yield Excluding Accretion on Acquired Loans Reported Yield Total Loans 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 $1,134 $948 $1,045 $1,291 $1,275 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 Commercial Loan Pipeline ($ in millions) Total Loans End-of-Period ($ in millions) Disciplined Loan Growth Supported by a Strong Pipeline Broad-based loan growth generated a net increase of $429 million in loans outstanding, a 13% annualized increase during the quarter. Seacoast continues to benefit from the investments made in recent years to attract talent from large regional and national banks across its markets. Commercial loan pipelines remain strong at $1.3 billion.
10THIRD QUARTER 2026 EARNINGS PRESENTATION CRE-Retail, 11% CRE-Industrial/Warehouse, 7% CRE-Office, 4% CRE-Multifamily 5+, 4% CRE-Hotel/Motel, 2% CRE-Other, 5% Construction & Land Development, 7% Residential, 24% Consumer, 1% OOCRE, 16% Commercial & Financial, 19% At September 30, 2026 Loan Portfolio Mix Seacoast's lending strategy results in a diverse and granular loan portfolio. Seacoast’s average loan size is $478 thousand and the average commercial loan size is $1.1 million at September 30, 2026. Portfolio diversification in terms of asset mix, industry, and loan type has been a critical element of the Company’s lending strategy. Strong loan growth has been broad-based across the portfolio, and exposures across industries and collateral types remain well diversified. Construction and land development and commercial real estate loans, as defined in regulatory guidance, represent 41% and 227%, respectively, of total consolidated risk-based capital1. 1Estimated
11THIRD QUARTER 2026 EARNINGS PRESENTATION Allowance for Credit Losses and Purchase Discount ($ in millions) Loans Outstanding Allowance for Credit Losses % of Loans Outstanding Purchase Discount % of Loans Outstanding Construction and Land Development $ 947 $ 9 0.95 % $ 1 0.11 % Owner Occupied Commercial Real Estate 2,177 24 1.10 12 0.55 Commercial Real Estate 4,485 66 1.47 52 1.16 Residential Real Estate 3,281 50 1.52 39 1.19 Commercial & Financial 2,491 35 1.41 16 0.64 Consumer 193 7 3.63 1 0.52 Total $ 13,574 $ 191 1.41 % $ 121 0.89 % • The total allowance for credit losses was $191 million as of September 30, 2026, representing 1.41% of total loans. The balance includes an $8.4 million measurement period adjustment, which was identified and recorded in the third quarter of 2026, to the reserve for an acquired VBI loan. • The $121 million remaining unrecognized discount on acquired loans represents 0.89% of total loans. • The reserve for unfunded commitments was $7 million at September 30, 2026 and is reflected in Other liabilities.
12THIRD QUARTER 2026 EARNINGS PRESENTATION 0.12% 0.03% 0.11% 0.10% 0.16% NCO/Average Loans 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 1.34% 1.42% 1.39% 1.38% 1.41% ACL/Total Loans 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 Continued Strong Asset Quality Trends Nonperforming Loans 0.55% 0.57% 0.75% 0.66% 0.54% 0.19% 0.26% 0.22% 0.15% 0.20% NPL/Total Loans Accruing Past Due / Total Loans 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 2.50% 2.82% 2.82% 2.88% 2.90% Criticized and Classified Loans / Total Loans 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 Criticized and Classified LoansAllowance for Credit Losses Net Charge-Offs
13THIRD QUARTER 2026 EARNINGS PRESENTATION Well-Managed Deposit Costs Deposits were $16.6 billion as of September 30, 2026, compared to $16.8 billion as of June 30, 2026, with the decline including a $159.0 million decrease in brokered deposits and a $105.9 million decline in public funds. Outside of these two funding sources, deposits grew 1.3% annualized in all other categories. Noninterest-bearing demand deposits have grown at an annualized rate of 10% year to date. Our continued focus on organic growth in combination with front line banking talent additions in recent years continues to drive customer acquisition, and supports a well diversified, low cost deposit portfolio. $12,498 Deposits End-of-Period ($ in millions) $13,090 $16,256 $16,638 $16,792 $16,580 4.25% 3.75% 3.75% 3.75% 4.00% 1.81% 1.67% 1.54% 1.53% 1.60% Total Deposits Fed Funds Upper Limit Cost of Deposits 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26
14THIRD QUARTER 2026 EARNINGS PRESENTATION Deposits End-of-Period ($ in millions) $13,090 $16,256 $16,638 $16,792 $16,580 Transaction Accounts Savings Money Market Brokered Time Deposits 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 Granular, Diverse and Relationship-Focused Customer Funding Base The Company benefits from a granular deposit franchise, with the top ten depositors representing approximately 2% of total customer deposits. Customer transaction account balances represent 48% of total deposits, comparing favorably to regional bank peers and demonstrating the strength of our operating account relationships. Consumer and business deposits represent 47% and 53% of total customer deposits, respectively, with an average balance per account of $26 thousand and $120 thousand. This mix reflects a balanced deposit base with strong customer relationship driven funding. The average customer tenure is 11 years, highlighting strong customer retention and the durability of the franchise through varying interest rate cycles. 48%48%50% 48% 48% 6%6%6%6% 5% 34% 32% 31% 30% 31%1% 1% 1% 4% 3% 12% 13% 12% 12% 12%
15THIRD QUARTER 2026 EARNINGS PRESENTATION Investment Securities Performance and Composition Portfolio yields increased five basis points to 4.52% from 4.47% in the prior quarter. Net unrealized losses in the available-for-sale portfolio increased $237.0 million during the third quarter of 2026, driven by spread widening and higher rates. Sold $234.0 million in securities during the third quarter of 2026 to fund strong loan growth. Net Unrealized Loss in Securities ($ in millions) 9/30/2026 6/30/2026 △ from 2Q'26 Total Available-for-Sale $ (348,684) $ (111,730) $ (236,954) Total Held-to-Maturity (117,671) (98,349) (19,322) Total Securities $ (466,355) $ (210,079) $ (256,276) ($ in m ill io ns ) $3,811 $5,751 $5,645 $5,739 $5,187 $599 $586 $576 $564 $553 $3,212 $5,165 $5,069 $5,175 $4,634 3.92% 4.13% 4.37% 4.47% 4.52% HTM Securities AFS Securities Yield 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 AAA, 10% AA, 4% BBB, 3% Agency, 83% Investment portfolio is predominantly agency-backed, with the remainder comprised of highly rated investment grade bonds.
16THIRD QUARTER 2026 EARNINGS PRESENTATION $17.61 $15.14 $15.33 $15.71 $14.27 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 15.9% 15.9% 16.0% 15.7% 15.5% 13.9% 11.5% 11.7% 11.5% 11.3% Total Risk Based Capital CET1 Ratio Adjusted CET1 Ratio 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 10.7% 9.1% 8.5% 14.4% 14.3% 13.0% 12.0% 16.3% 15.8% 16.9% GAAP - ROTE Adjusted - ROTE 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 1Calculated 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 defines tangible equity as total shareholders' equity plus convertible preferred stock less intangible assets. 2Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP. 3FDICIA defines well capitalized as 10.0% for total risk-based capital and 6.5% for CET1 ratio at a total Bank level. 4Current quarter ratios are estimated. Tangible Book Value Per Share (TBV/share) Tangible Equity / Tangible Assets Total Risk-Based and CET1 Capital4Return on Tangible Equity 2 10.0%3 6.5%3 Robust Capital Position Supporting a Fortress Balance Sheet $17.251 $15.961 16.901 9.8% 7.6% 7.5% 7.5% 6.9% Tangible Common Equity to Tangible Assets Tangible Equity to Tangible Assets 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 9.3% 8.6%9.2% 14.1% 13.8% 13.6% 1 16.721 9.3% 14.0% $1.63 impact from market decline in AFS securities.
17THIRD QUARTER 2026 EARNINGS PRESENTATION $17.25 $0.66 $(0.16) $(0.22) $(1.63) $0.06 $15.96 TBV / Share at 2Q’26 Adjusted Net Income Merger and Integration Related Items Dividends and Share Repurchases Unrealized Net Losses on AFS Securities and Hedges Other TBV / Share at 3Q’26 Change in Tangible Book Value Per Share Tangible book value per share, treating all convertible preferred shares as common, was $15.96 as of September 30, 2026, compared to $17.25 as of June 30, 2026. Declines in accumulated other comprehensive income associated with investment securities and related hedging activities contributed approximately $1.63 to the decline in tangible book value per share. Seacoast’s AFS portfolio is over 80% agency- guaranteed. Longer duration holdings saw a greater decline in value from market rate increases and wider spreads during the third quarter of 2026; however, no realized loss is expected. 1Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP. 2Includes merger and integration costs and changes in goodwill and intangible assets from measurement period adjustments. 2 1
18THIRD QUARTER 2026 EARNINGS PRESENTATION 4Q and Full Year 2026 Outlook ($ in millions except per share data) 2025 Actual 2026 Outlook Adjusted Revenue (fully taxable equivalent basis) $ 656 28% - 31% Growth Adjusted Efficiency Ratio 58 % 53% - 55% Adjusted Earnings Per Share-Diluted $ 1.84 $2.48 - $2.52 Organic Loan Growth 9.4 % High Single Digit Growth Organic Deposit Growth 1.2 % Low to Mid Single Digit Growth 4Q’25 Actual 4Q’26 Outlook Adjusted ROA 0.89 % 1.30% Adjusted ROTE 12.0 % 16.0% Adjusted measures are non-GAAP measures, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP.
19THIRD QUARTER 2026 EARNINGS PRESENTATION Appendix
20THIRD QUARTER 2026 EARNINGS PRESENTATION Quarterly Trend ($ in millions, except per share amounts) 3Q'26 2Q'26 1Q'26 4Q'25 3Q'25 Accretion on acquired loans $ 8.5 $ 8.9 $ 12.1 $ 10.6 $ 9.5 Amortization of intangibles 9.9 10.0 10.1 10.4 6.0 Accretion on acquired loans, net of amortization of intangibles (1.4) (1.1) 2.0 0.2 3.5 Tax effect (0.4) (0.3) 0.5 0.1 0.9 Accretion on acquired loans, net of amortization of intangibles, after taxes $ (1.0) $ (0.8) $ 1.5 $ 0.1 $ 2.6 Net per share impact $ (0.01) $ (0.01) $ 0.01 $ — $ 0.03 • The positive impact of acquisition-related fair value marks on loans is largely offset by expense associated with amortization of intangibles, resulting in a nominal net effect on earnings. • Accretion on acquired loans of $8.5 million, net of amortization of intangibles of $9.9 million in Q3 2026 resulted in a $(0.01) impact to diluted earnings per share. Selected Acquisition-Related Impacts to Earnings
21THIRD QUARTER 2026 EARNINGS PRESENTATION Recognition 4th consecutive year 2nd consecutive year6th consecutive year 2nd consecutive year 1st time winner2nd consecutive year 4th consecutive year
22THIRD QUARTER 2026 EARNINGS PRESENTATION About Non-GAAP Financial Measures: This presentation contains financial information determined by methods other than Generally Accepted Accounting Principles (“GAAP”). The financial highlights provide reconciliations between GAAP and adjusted financial measures including net income, noninterest income, noninterest expense, tax adjustments and other financial ratios. 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. Presentation of Non-GAAP Financial Measures: Certain monetary amounts, percentages and other figures included in this presentation have been subject to rounding adjustments. Accordingly, figures shown as totals in certain tables may not be the arithmetic aggregation of the figures that precede them and the total of the four quarters may not be the arithmetic aggregation of the year-to-date value. Explanation of Certain Unaudited Non-GAAP Financial Measures
23THIRD QUARTER 2026 EARNINGS PRESENTATION Quarterly Trend Nine Months Ended (Amounts in millions except per share data) 3Q'26 2Q'26 1Q'26 4Q'25 3Q'25 3Q'26 3Q'25 Net Income $ 59.9 $ 59.5 $ 31.9 $ 34.3 $ 36.5 $ 151.3 $ 110.6 Total noninterest income (loss) 31.6 27.8 (12.6) 28.6 23.8 46.8 70.5 Securities losses (gains), net 0.5 0.1 39.5 (0.1) 0.8 40.1 0.6 Total adjusted noninterest income 32.1 27.8 26.9 28.5 24.7 86.9 71.1 Total noninterest expense 133.3 123.1 122.2 130.5 102.0 378.6 284.3 Merger and integration costs (15.5) (8.4) (8.5) (18.1) (10.8) (32.4) (14.3) Adjusted noninterest expense 117.8 114.8 113.6 112.4 91.2 346.2 270.0 Income taxes 15.5 16.5 9.0 9.2 10.5 41.0 32.4 Tax effect of adjustments 4.1 2.1 12.2 4.6 3.0 18.4 3.8 Adjusted income taxes 19.5 18.7 21.2 13.8 13.4 59.4 36.2 Adjusted net income 71.8 65.8 67.8 47.7 45.2 205.4 121.7 Earnings per common share-diluted, as reported 0.55 0.55 0.29 0.31 0.42 1.39 1.28 Adjusted earnings per common share-diluted $ 0.66 $ 0.61 $ 0.62 $ 0.44 $ 0.52 $ 1.89 $ 1.41 Average common shares-diluted 97.2 97.3 97.8 97.8 87.4 97.5 86.2 Average preferred shares, treating all convertible preferred shares as common 11.3 11.3 11.3 11.3 — 11.3 — Average common shares-diluted, treating all convertible preferred shares as common 108.5 108.5 109.1 109.0 87.4 108.7 86.2 GAAP to Non-GAAP Reconciliation
24THIRD QUARTER 2026 EARNINGS PRESENTATION Quarterly Trend Nine Months Ended (Amounts in millions except per share data) 3Q'26 2Q'26 1Q'26 4Q'25 3Q'25 3Q'26 3Q'25 Adjusted noninterest expense $ 117.8 $ 114.8 $ 113.6 $ 112.4 $ 91.2 $ 346.2 $ 270.0 Provision for credit losses on unfunded commitments (0.2) (0.2) (0.2) (0.8) (0.2) (0.5) (0.5) Other real estate owned expense and net (loss) gain on sale (0.5) (0.1) (0.1) — 0.3 (0.6) 0.1 Amortization of intangibles (9.9) (10.0) (10.1) (10.4) (6.0) (30.0) (16.4) Net adjusted noninterest expense 107.2 104.6 103.3 101.2 85.4 315.1 253.2 Average tangible assets $ 20,098.1 $ 19,911.0 $ 19,699.3 $ 19,976.9 $ 15,658.7 $ 19,904.3 $ 15,089.7 Net adjusted noninterest expense to average tangible assets 2.12 % 2.11 % 2.13 % 2.01 % 2.16 % 2.12 % 2.24 % Net revenue $ 215.0 $ 208.2 $ 163.9 $ 203.3 $ 157.3 $ 587.0 $ 449.4 Total adjustments to net revenue 0.5 0.1 39.5 (0.1) 0.8 40.1 0.6 Impact of FTE adjustment 2.0 1.8 1.7 1.6 0.4 5.4 1.2 Adjusted net revenue on a FTE basis $ 217.5 $ 210.0 $ 205.1 $ 204.8 $ 158.6 $ 632.6 $ 451.2 Adjusted efficiency ratio 53.87 % 54.54 % 55.31 % 54.50 % 57.63 % 54.56 % 59.77 % Net interest income $ 183.4 $ 180.4 $ 176.5 $ 174.6 $ 133.5 $ 540.2 $ 378.8 Impact of FTE adjustment 2.0 1.8 1.7 1.6 0.4 5.4 1.2 Net interest income including FTE adjustment 185.4 182.2 178.2 176.2 133.9 545.7 380.1 Total noninterest income (loss) 31.6 27.8 (12.6) 28.6 23.8 46.8 70.5 Total noninterest expense less provision for credit losses on unfunded commitments 133.2 123.0 122.0 129.7 101.8 378.2 283.9 Pre-tax pre-provision earnings 83.8 87.0 43.5 75.1 55.9 214.3 166.7 Total adjustments to noninterest income (loss) 0.5 0.1 39.5 (0.1) 0.8 40.1 0.6 Total adjustments to noninterest expense including other real estate owned expense and net (loss) gain on sale 16.0 8.4 8.6 18.1 10.5 33.0 14.2 Adjusted pre-tax pre-provision earnings $ 100.3 $ 95.5 $ 91.6 $ 93.2 $ 67.2 $ 287.4 $ 181.5 GAAP to Non-GAAP Reconciliation
25THIRD QUARTER 2026 EARNINGS PRESENTATION Quarterly Trend Nine Months Ended (Amounts in millions except per share data) 3Q'26 2Q'26 1Q'26 4Q'25 3Q'25 3Q'26 3Q'25 Average assets $ 21,307.1 $ 21,125.8 $ 20,924.9 $ 21,203.4 $ 16,486.0 $ 21,120.7 $ 15,898.3 Less average goodwill and intangible assets (1,209.0) (1,214.8) (1,225.6) (1,226.5) (827.3) (1,216.4) (808.6) Average tangible assets $ 20,098.1 $ 19,911.0 $ 19,699.3 $ 19,976.9 $ 15,658.7 $ 19,904.3 $ 15,089.7 Return on average assets (ROA) 1.11 % 1.13 % 0.62 % 0.64 % 0.88 % 0.96 % 0.93 % Impact of other adjustments for adjusted net income 0.23 0.12 0.69 0.25 0.21 0.34 0.09 Adjusted ROA 1.34 1.25 1.31 0.89 1.09 1.30 1.02 ROA 1.11 1.13 0.62 0.64 0.88 0.96 0.93 Impact of removing average intangible assets and related amortization 0.22 0.22 0.19 0.19 0.16 0.21 0.16 Return on average tangible assets (ROTA) 1.33 1.35 0.81 0.83 1.04 1.17 1.09 Impact of other adjustments for adjusted net income 0.23 0.13 0.74 0.27 0.22 0.36 0.10 Adjusted ROTA 1.56 1.48 1.55 1.10 1.26 1.53 1.19 Return on average equity (ROE) 8.71 8.74 4.69 4.99 6.17 7.38 6.51 Impact of other adjustments for adjusted net income 1.74 0.92 5.27 1.96 1.47 2.64 0.65 Adjusted ROE 10.45 % 9.66 % 9.96 % 6.95 % 7.64 % 10.02 % 7.17 % Average shareholders' equity $ 2,727.8 $ 2,732.4 $ 2,760.7 $ 2,724.2 $ 2,345.2 $ 2,740.2 $ 2,271.3 Average convertible preferred stock 343.1 343.1 343.1 343.1 — 343.1 — Less average goodwill and intangible assets (1,209.0) (1,214.8) (1,225.6) (1,226.5) (827.3) (1,216.4) (808.6) Average tangible equity $ 1,862.0 $ 1,860.6 $ 1,878.2 $ 1,840.8 $ 1,517.9 $ 1,866.9 $ 1,462.7 ROE 8.71 % 8.74 % 4.69 % 4.99 % 6.17 % 7.38 % 6.51 % Impact of adding convertible preferred stock and removing average intangible assets and related amortization 5.63 5.70 3.82 4.06 4.53 5.06 4.72 Return on average tangible equity (ROTE) 14.34 14.44 8.51 9.05 10.70 12.44 11.23 Impact of other adjustments for adjusted net income 2.55 1.35 7.75 2.91 2.28 3.88 1.02 Adjusted ROTE 16.89 % 15.79 % 16.26 % 11.96 % 12.98 % 16.32 % 12.25 % GAAP to Non-GAAP Reconciliation
26THIRD QUARTER 2026 EARNINGS PRESENTATION Quarterly Trend Nine Months Ended (Amounts in millions except per share data) 3Q'26 2Q'26 1Q'26 4Q'25 3Q'25 3Q'26 3Q'25 Loan interest income1 $ 198.1 $ 188.7 $ 186.2 $ 187.9 $ 162.3 $ 573.0 $ 470.8 Accretion on acquired loans (8.5) (8.9) (12.1) (10.6) (9.5) (29.5) (28.3) Loan interest income excluding accretion on acquired loans1 $ 189.6 $ 179.8 $ 174.1 $ 177.3 $ 152.8 $ 543.6 $ 442.5 Yield on loans1 5.89 % 5.88 % 5.96 % 6.02 % 5.96 % 5.91 % 5.95 % Impact of accretion on acquired loans (0.25) (0.27) (0.39) (0.34) (0.35) (0.30) (0.36) Yield on loans excluding accretion on acquired loans1 5.64 % 5.61 % 5.57 % 5.68 % 5.61 % 5.61 % 5.59 % Net interest income1 $ 185.4 $ 182.2 $ 178.2 $ 176.2 $ 133.9 $ 545.7 $ 380.1 Accretion on acquired loans (8.5) (8.9) (12.1) (10.6) (9.5) (29.5) (28.3) Net interest income excluding accretion on acquired loans1 $ 176.9 $ 173.2 $ 166.1 $ 165.6 $ 124.4 $ 516.2 $ 351.7 Net interest margin1 3.83 % 3.83 % 3.83 % 3.66 % 3.57 % 3.83 % 3.55 % Impact of accretion on acquired loans (0.17) (0.18) (0.26) (0.22) (0.25) (0.21) (0.27) Net interest margin excluding accretion on acquired loans1 3.66 % 3.65 % 3.57 % 3.44 % 3.32 % 3.62 % 3.28 % Securities interest income1 $ 62.9 $ 63.8 $ 61.3 $ 57.9 $ 36.0 $ 188.0 $ 98.0 Tax equivalent adjustment on securities (1.2) (1.2) (1.2) (1.1) — (3.6) — Securities interest income excluding tax equivalent adjustment 61.7 62.6 60.1 56.7 36.0 184.4 97.9 Loan interest income1 198.1 188.7 186.2 187.9 162.3 573.0 470.8 Tax equivalent adjustment on loans (0.8) (0.6) (0.5) (0.5) (0.4) (1.8) (1.2) Loan interest income excluding tax equivalent adjustment 197.3 188.2 185.7 187.4 161.9 571.2 469.6 Net interest income1 185.4 182.2 178.2 176.2 133.9 545.7 380.1 Tax equivalent adjustment on securities (1.2) (1.2) (1.2) (1.1) — (3.6) — Tax equivalent adjustment on loans (0.8) (0.6) (0.5) (0.5) (0.4) (1.8) (1.2) Net interest income excluding tax equivalent adjustments $ 183.4 $ 180.4 $ 176.5 $ 174.6 $ 133.5 $ 540.2 $ 378.8 GAAP to Non-GAAP Reconciliation 1On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost.
27THIRD QUARTER 2026 EARNINGS PRESENTATION Quarterly Trend Nine Months Ended (Amounts in millions except per share data) 3Q'26 2Q'26 1Q'26 4Q'25 3Q'25 3Q'26 3Q'25 Total shareholders’ equity $ 2,595.7 $ 2,730.8 $ 2,717.7 $ 2,712.7 $ 2,378.1 $ 2,595.7 $ 2,378.1 Goodwill (1,045.0) (1,035.0) (1,035.0) (1,034.7) (754.6) (1,045.0) (754.6) Other intangible assets, net (170.2) (174.5) (185.0) (195.7) (76.3) (170.2) (76.3) Total adjustments to shareholders’ equity (1,215.2) (1,209.5) (1,220.0) (1,230.4) (830.9) (1,215.2) (830.9) Total tangible common shareholders’ equity 1,380.5 1,521.3 1,497.7 1,482.2 1,547.2 1,380.5 1,547.2 Convertible preferred stock 343.1 343.1 343.1 343.1 — 343.1 — Total tangible shareholders’ equity $ 1,723.7 $ 1,864.4 $ 1,840.8 $ 1,825.3 $ 1,547.2 $ 1,723.7 $ 1,547.2 Common stock, shares outstanding 96.7 96.8 97.7 97.9 87.9 96.7 87.9 Preferred stock1, shares outstanding 11.3 11.3 11.3 11.3 — 11.3 — Common stock, shares outstanding, treating all preferred shares as common 108.0 108.1 108.9 109.2 87.9 108.0 87.9 Tangible book value per share $ 14.27 $ 15.71 $ 15.33 $ 15.14 $ 17.61 $ 14.27 $ 17.61 Tangible book value per share, treating all preferred shares as common 15.96 17.25 16.90 16.72 17.61 15.96 17.61 Net income available to common shareholders 57.7 57.4 29.8 32.1 36.5 144.9 110.6 Less allocation of earnings to preferred stock-diluted (4.1) (4.1) (1.2) (1.4) — (9.3) — Net income available to common shareholders after allocation of earnings to preferred stock $ 53.6 $ 53.3 $ 28.6 $ 30.7 $ 36.5 $ 135.6 $ 110.6 Average common shares-diluted 97.2 97.3 97.8 97.8 87.4 97.5 86.2 Average preferred shares, treating all preferred shares as common 11.3 11.3 11.3 11.3 — 11.3 — Average common shares-diluted, treating all preferred shares as common 108.5 108.5 109.1 109.0 87.4 108.7 86.2 Earnings per common share-diluted, as reported $ 0.55 $ 0.55 $ 0.29 $ 0.31 $ 0.42 $ 1.39 $ 1.28 Earnings per common share-diluted, treating all preferred shares as common 0.55 0.55 0.29 0.31 0.42 1.39 1.28 GAAP to Non-GAAP Reconciliation 1In the fourth quarter of 2025, non-voting convertible preferred shares were issued in connection with the VBI acquisition. 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.