Seacoast Banking Corporation of Florida (SBCF)

SBCF Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	597.37	581.11	315.72	251.47	254.37
Interest Income on Investments	128.19	107.87	64.78	32.77	32.67
Total Interest Income	725.56	688.98	380.49	284.24	287.04
Interest Paid on Deposits	268.99	178.79	9.96	6.39	20.29
Interest Paid on Borrowings	24.6	21.95	4.37	1.83	4.01
Total Interest Expense	293.59	200.74	14.33	8.22	24.29
Net Interest Income	431.97	488.24	366.16	276.03	262.74
Net Interest Income Growth (YoY)	-11.52%	33.34%	32.66%	5.06%	7.85%
Trust Income	15.17	12.78	11.05	9.63	7.51
Mortgage Banking Activities	1.77	1.79	3.48	11.78	14.7
Gain (Loss) on Sale of Investments	-8.02	-2.89	-1.1	-0.58	1.24
Other Non-Interest Income	53.65	47.08	38.95	40.12	28.7
Total Non-Interest Income	83.43	77.04	66.09	70.73	61.57
Non-Interest Income Growth (YoY)	8.30%	16.56%	-6.55%	14.87%	10.39%
Revenues Before Loan Losses	515.4	565.28	432.25	346.75	324.31
Provision for Loan Losses	16.26	37.52	26.18	-9.42	38.18
Revenue	499.14	527.76	406.07	356.17	286.13
Revenue Growth (YoY)	-5.42%	29.97%	14.01%	24.48%	-0.78%
Salaries and Employee Benefits	190.57	180.52	128.77	106.47	96.78
Federal Deposit Insurance	8.45	8.63	3.14	2.41	1.27
Amortization of Goodwill & Intangibles	23.88	28.73	9.1	5.03	5.86
Selling, General & Administrative	94.64	108.87	80.71	67.32	63.37
Other Non-Interest Expense	25.32	30.39	24.85	16.47	16.02
Total Non-Interest Expense	343.3	358.12	245.03	197.44	185.55
EBT Excluding Unusual Items	155.84	169.64	161.04	158.74	100.58
Pretax Income	155.84	134.25	138.14	158.74	100.58
Income Tax Expense	34.85	30.22	31.63	34.34	22.82
Net Income	120.99	104.03	106.51	124.4	77.76
Net Income to Common	120.99	104.03	106.51	124.4	77.76
Net Income Growth	16.30%	-2.32%	-14.39%	59.98%	-21.24%
Basic Shares Outstanding	84	84	64	57	54
Diluted Shares Outstanding	85	84	64	57	54
Shares Change (YoY)	0.84%	31.22%	12.57%	5.86%	3.65%
EPS (Basic)	1.43	1.24	1.67	2.20	1.45
EPS (Diluted)	1.42	1.23	1.66	2.18	1.44
EPS Growth	15.45%	-25.90%	-23.85%	51.39%	-24.21%
Dividend Per Share	0.720	0.710	0.640	0.390	-
Dividend Growth	1.41%	10.94%	64.10%	-	-
Effective Tax Rate	22.37%	22.51%	22.90%	21.63%	22.69%

Source: S&P Capital IQ. Banks template. Financial Sources.