Seacoast Banking Corporation of Florida (SBCF) 10-Year Financial Performance & Capital Metrics

SBCF • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingSoutheast Community Banks

AboutSeacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to retail and commercial customers in Florida. It offers commercial and retail banking, wealth management, and mortgage services; and brokerage and annuity services. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal or family purposes. As of December 31, 2021, it had 54 branch and commercial lending offices. The company was founded in 1926 and is headquartered in Stuart, Florida.Show more

Net Interest Income $432M -11.5%
Total Revenue $809M +5.3%
Net Income $121M +16.3%
Return on Equity 5.64% +0.7%
Net Interest Margin 2.85% -15.0%
Efficiency Ratio 42.31% -17.6%
ROA 0.81% +4.5%
Equity / Assets 14.39% -0.5%
Book Value per Share 25.67 +2.7%
Tangible BV/Share 16.22 +6.8%
Debt/Equity 0.27 +6.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 42.3% efficiency ratio
✓Well capitalized: 14.4% equity/assets
✓Healthy dividend yield of 2.1%
✓Trading near 52-week high
✓Trading at only 1.3x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y22.63%

5Y18.48%

3Y31.6%

TTM-

Profit (Net Income) CAGR

10Y35.74%

5Y4.15%

3Y-0.92%

TTM24.27%

EPS CAGR

10Y21.06%

5Y-5.66%

3Y-13.32%

TTM22.46%

ROCE

10Y Avg7.7%

5Y Avg7.77%

3Y Avg6.69%

Latest6.08%

Peer Comparison

Southeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FFINFirst Financial Bankshares, Inc.	4.68B	32.65	20.93	18.79%	30.24%	14.14%	6.26%	0.12
FHNFirst Horizon Corporation	11.85B	24.44	17.97	4.71%	15.7%	9.58%	10.33%	0.50
AUBAtlantic Union Bankshares Corporation	5.47B	38.36	17.13	28.8%	15.53%	4.22%	5.51%	0.17
UCBUnited Community Banks, Inc.	4.09B	33.91	16.62	14.65%	17.05%	8.83%	7.4%	0.13
SNVSynovus Financial Corp.	6.95B	50.05	16.52	1.16%	14.09%	13.7%	11.01%	0.35
PNFPPinnacle Financial Partners, Inc.	14.67B	97.65	16.38	15.32%	16.65%	9.1%	5.5%	0.39
CADECadence Bank	8.27B	44.40	16.03	32.37%	18.03%	9.08%	9.39%	0.01
ABCBAmeris Bancorp	5.56B	81.41	15.69	9.75%	21.97%	9.91%	2.53%	0.11

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	109.49M	139.59M	176.3M	211.51M	243.62M	262.74M	276.02M	366.16M	488.24M	431.97M
NII Growth %	0.46%	0.27%	0.26%	0.2%	0.15%	0.08%	0.05%	0.33%	0.33%	-0.12%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	116.42M	148.06M	191.6M	241.4M	289.82M	287.04M	284.24M	380.49M	688.98M	725.56M
Interest Expense	6.93M	8.47M	15.3M	29.88M	46.2M	24.29M	8.22M	14.33M	200.74M	293.59M
Loan Loss Provision	2.64M	2.41M	5.65M	11.73M	11M	38.36M	-9.29M	27.34M	38.76M	17.26M
Non-Interest Income+	31.94M	37.8M	58.47M	50.02M	56.73M	61.57M	70.73M	66.09M	79.15M	83.43M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	148.36M	185.85M	250.06M	291.42M	346.56M	348.61M	354.97M	446.58M	768.13M	808.99M
Revenue Growth %	0.41%	0.25%	0.35%	0.17%	0.19%	0.01%	0.02%	0.26%	0.72%	0.05%
Non-Interest Expense	103.11M	130.88M	149.92M	162.27M	160.74M	185.37M	197.3M	266.78M	394.38M	342.3M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	35.67M	44.09M	79.2M	87.53M	128.61M	100.58M	158.74M	138.14M	134.25M	155.84M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	2.48%	0.24%	0.8%	0.11%	0.47%	-0.22%	0.58%	-0.13%	-0.03%	0.16%
Pretax Income+	35.67M	44.09M	79.2M	87.53M	128.61M	100.58M	158.74M	138.14M	134.25M	155.84M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	13.53M	14.89M	36.34M	20.26M	29.87M	22.82M	34.34M	31.63M	30.22M	34.85M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	22.14M	29.2M	42.87M	67.28M	98.74M	77.76M	124.4M	106.51M	104.03M	120.99M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	2.89%	0.32%	0.47%	0.57%	0.47%	-0.21%	0.6%	-0.14%	-0.02%	0.16%
Net Income (Continuing)	22.14M	29.2M	42.87M	67.28M	98.74M	77.76M	124.4M	106.51M	104.03M	120.99M
EPS (Diluted)+	0.66	0.78	0.99	1.38	1.90	1.44	2.18	1.66	1.23	1.42
EPS Growth %	2.14%	0.18%	0.27%	0.39%	0.38%	-0.24%	0.51%	-0.24%	-0.26%	0.15%
EPS (Basic)	0.66	0.79	1.01	1.40	1.92	1.45	2.20	1.67	1.24	1.43
Diluted Shares Outstanding	33.74M	37.51M	43.35M	48.75M	52.03M	53.93M	57.09M	64.26M	84.33M	85.04M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	136.07M	109.64M	122.06M	124.19M	128.27M	404.84M	737.73M	205.18M	453.04M	479.82M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	3.17B	4.22B	5.21B	6.06B	6.43B	7.29B	8.16B	10.65B	12.43B	13.04B
Investments Growth %	0.14%	0.33%	0.23%	0.16%	0.06%	0.13%	0.12%	0.31%	0.17%	0.05%
Long-Term Investments	2.38B	3.27B	4.26B	5.2B	5.48B	5.9B	6.51B	8.78B	10.6B	10.85B
Accounts Receivables	0	0	0	0	0	0	0	0	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	25.21M	64.65M	147.58M	204.75M	205.29M	221.18M	252.15M	480.32M	732.42M	732.42M
Intangible Assets	8.59M	14.57M	19.1M	25.98M	20.07M	16.75M	14.85M	71.28M	95.64M	71.72M
PP&E (Net)	54.58M	58.68M	66.88M	71.02M	66.61M	75.12M	72.4M	116.89M	113.3M	107.56M
Other Assets	94.56M	178.1M	248.21M	264.31M	280.31M	306.74M	420.52M	524.5M	637.88M	640.85M
Total Current Assets	926.83M	1.06B	1.07B	990.02M	1.08B	1.8B	2.38B	2.08B	2.29B	2.67B
Total Non-Current Assets	2.61B	3.62B	4.74B	5.76B	6.03B	6.54B	7.3B	10.07B	12.29B	12.5B
Total Assets+	3.53B	4.68B	5.81B	6.75B	7.11B	8.34B	9.68B	12.15B	14.58B	15.18B
Asset Growth %	0.14%	0.32%	0.24%	0.16%	0.05%	0.17%	0.16%	0.25%	0.2%	0.04%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	291.97M	689.44M	497.62M	665.13M	472.21M	190.97M	193.21M	406.56M	530.88M	584.04M
Net Debt	155.9M	579.8M	375.56M	540.93M	343.93M	-213.86M	-544.52M	201.39M	77.84M	104.22M
Long-Term Debt	119.96M	485.24M	281.52M	450.8M	386.08M	71.36M	71.65M	234.53M	156.3M	351.97M
Short-Term Debt	172M	204.2M	216.09M	214.32M	86.12M	119.61M	121.56M	172.03M	374.57M	232.07M
Other Liabilities	44.97M	32.85M	30.13M	41.02M	65.91M	88.45M	109.9M	149.83M	164.35M	166.6M
Total Current Liabilities	3.02B	3.73B	4.81B	5.39B	5.67B	7.05B	8.19B	10.15B	12.15B	12.47B
Total Non-Current Liabilities	164.94M	518.09M	311.65M	491.83M	452M	159.82M	181.54M	384.36M	320.65M	518.57M
Total Liabilities	3.18B	4.25B	5.12B	5.88B	6.12B	7.21B	8.37B	10.54B	12.47B	12.99B
Total Equity+	353.45M	435.4M	689.66M	864.27M	985.64M	1.13B	1.31B	1.61B	2.11B	2.18B
Equity Growth %	0.13%	0.23%	0.58%	0.25%	0.14%	0.15%	0.16%	0.23%	0.31%	0.04%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.07%	0.07%	0.08%	0.09%	0.11%	0.07%	0.1%	0.07%	0.06%	0.06%
Book Value per Share	10.47	11.61	15.91	17.73	18.94	20.96	22.96	25.02	25.00	25.67
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	3.44M	3.8M	4.69M	5.14M	5.15M	5.52M	5.85M	7.16M	8.49M	8.63M
Additional Paid-in Capital	399.16M	454M	661.63M	778.5M	786.24M	856.09M	963.85M	1.38B	1.81B	1.82B
Retained Earnings	-42.86M	-13.66M	29.91M	97.07M	195.81M	256.7M	358.6M	423.86M	467.31M	526.64M
Accumulated OCI	-6.21M	-7.51M	-4.22M	-13.06M	4.46M	20.37M	-6.99M	-188.03M	-159.88M	-157.87M
Treasury Stock	-73K	-1.24M	-2.36M	-3.38M	-6.03M	-8.29M	-10.57M	-13.02M	-16.71M	-19.09M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	29.51M	62.01M	48.91M	129.61M	117.75M	60.65M	154.57M	195.86M	150.61M	179.9M
Operating CF Growth %	0.34%	1.1%	-0.21%	1.65%	-0.09%	-0.48%	1.55%	0.27%	-0.23%	0.19%
Net Income	22.14M	29.2M	42.87M	67.28M	98.74M	77.76M	124.4M	106.51M	104.03M	120.99M
Depreciation & Amortization	2.17M	2.84M	4.92M	5.2M	8.53M	1.72M	-3.85M	10.63M	423K	19.21M
Deferred Taxes	12.89M	14.21M	35.83M	459K	6.79M	-4.93M	3.84M	-10.4M	9.44M	9.55M
Other Non-Cash Items	-5.09M	20.2M	-13.03M	29.98M	6.26M	-4.43M	35.05M	55.41M	41M	20.36M
Working Capital Changes	-5.46M	-8.59M	-26.94M	19.16M	-9.82M	-16.78M	-13.55M	22.55M	-17.72M	-3.95M
Cash from Investing+	-170.9M	-511.79M	-245.58M	-174.6M	-321.34M	-342.5M	-412.51M	-364.88M	527.45M	-606.88M
Purchase of Investments	-183.98M	-516.37M	-509.55M	-104.65M	-309.46M	-830.3M	-1.52B	-899.69M	-100.87M	-993.92M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	32.93M	235.55M	23.82M	22.35M	0	71.97M	98.1M	281.75M	141.67M	0
Other Investing	-218.19M	-441.91M	-287.39M	-373.52M	-356.25M	-59.24M	251.84M	-617.18M	93.95M	-257.96M
Cash from Financing+	176.92M	423.36M	196.53M	51.44M	212.18M	561.41M	591.58M	-366.77M	-432.82M	456.41M
Dividends Paid	0	0	0	0	0	0	-22.51M	-41.24M	-60.59M	-61.65M
Share Repurchases	0	0	0	0	0	0	0	0	-10.87M	-880K
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	1000K	-1000K	1000K	-1000K	-1000K	-1000K	1000K	-1000K	1000K
Other Financing	256.92M	58.35M	344.89M	-40.56M	277.18M	876.41M	647.09M	-330.53M	-116.36M	323.94M
Net Change in Cash+	35.53M	-26.42M	-140K	6.45M	8.58M	279.56M	333.64M	-535.79M	245.24M	29.43M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	100.54M	136.07M	109.64M	109.5M	115.95M	124.53M	404.09M	737.73M	201.94M	447.18M
Cash at End	136.07M	109.64M	109.5M	115.95M	124.53M	404.09M	737.73M	201.94M	447.18M	476.61M
Interest Paid	6.64M	7.86M	15.13M	28.3M	46.13M	23.55M	9.98M	13.74M	191.22M	287.27M
Income Taxes Paid	575K	703K	400K	13.2M	16M	27.71M	30.89M	29.59M	0	18.5M
Free Cash Flow+	20.42M	55.95M	43.2M	125.59M	115.22M	59.06M	150.25M	183.21M	140.32M	175.87M
FCF Growth %	0.29%	1.74%	-0.23%	1.91%	-0.08%	-0.49%	1.54%	0.22%	-0.23%	0.25%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	6.65%	7.4%	7.62%	8.66%	10.67%	7.35%	10.19%	7.3%	5.6%	5.64%
Return on Assets (ROA)	0.67%	0.71%	0.82%	1.07%	1.43%	1.01%	1.38%	0.98%	0.78%	0.81%
Net Interest Margin	3.1%	2.98%	3.03%	3.13%	3.43%	3.15%	2.85%	3.01%	3.35%	2.85%
Efficiency Ratio	69.5%	70.42%	59.95%	55.68%	46.38%	53.17%	55.58%	59.74%	51.34%	42.31%
Equity / Assets	10%	9.3%	11.87%	12.81%	13.87%	13.55%	13.54%	13.24%	14.46%	14.39%
Book Value / Share	10.47	11.61	15.91	17.73	18.94	20.96	22.96	25.02	25	25.67
NII Growth	46.16%	27.49%	26.3%	19.98%	15.18%	7.85%	5.06%	32.66%	33.34%	-11.52%
Dividend Payout	0.17%	-	-	-	-	-	18.09%	38.72%	58.24%	50.96%

Revenue by Segment

	2019	2020
Mortgage Banking	6.49M	14.7M
Mortgage Banking Growth	-	126.44%
Deposit Account	11.53M	9.43M
Deposit Account Growth	-	-18.21%
Wealth Management Income	-	7.51M
Wealth Management Income Growth	-	-
Fiduciary and Trust	4.44M	-
Fiduciary and Trust Growth	-	-

Frequently Asked Questions

Valuation & Price

Seacoast Banking Corporation of Florida (SBCF) has a price-to-earnings (P/E) ratio of 24.0x. This is roughly in line with market averages.

Growth & Financials

Seacoast Banking Corporation of Florida (SBCF) grew revenue by 5.3% over the past year. This is steady growth.

Yes, Seacoast Banking Corporation of Florida (SBCF) is profitable, generating $144.7M in net income for fiscal year 2024 (15.0% net margin).

Dividend & Returns

Yes, Seacoast Banking Corporation of Florida (SBCF) pays a dividend with a yield of 2.13%. This makes it attractive for income-focused investors.

Seacoast Banking Corporation of Florida (SBCF) has a return on equity (ROE) of 5.6%. This is below average, suggesting room for improvement.

Industry Metrics

Seacoast Banking Corporation of Florida (SBCF) has a net interest margin (NIM) of 2.8%. NIM has been under pressure due to interest rate environment.

Seacoast Banking Corporation of Florida (SBCF) has an efficiency ratio of 42.3%. This is excellent, indicating strong cost control.

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