Seacoast Banking Corporation of Florida (SBCF)

SBCF Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	592.06	581.11	315.72	251.47	254.37	250.54
Interest Income on Investments	120.16	107.87	64.78	32.77	32.67	39.29
Total Interest Income	712.22	688.98	380.49	284.24	287.04	289.82
Interest Paid on Deposits	249.45	178.79	9.96	6.39	20.29	38.4
Interest Paid on Borrowings	23.14	21.95	4.37	1.83	4.01	7.81
Total Interest Expense	272.59	200.74	14.33	8.22	24.29	46.21
Net Interest Income	439.63	488.24	366.16	276.03	262.74	243.62
Net Interest Income Growth (YoY)	-5.68%	33.34%	32.66%	5.06%	7.85%	15.18%
Trust Income	13.71	12.78	11.05	9.63	7.51	6.35
Mortgage Banking Activities	1.75	1.79	3.48	11.78	14.7	6.49
Gain (Loss) on Sale of Investments	-2.64	-2.89	-1.1	-0.58	1.24	1.22
Other Non-Interest Income	45.22	47.08	38.95	40.12	28.7	30.19
Total Non-Interest Income	77.81	77.04	66.09	70.73	61.57	55.78
Non-Interest Income Growth (YoY)	2.85%	16.56%	-6.55%	14.87%	10.39%	12.13%
Revenues Before Loan Losses	517.44	565.28	432.25	346.75	324.31	299.39
Provision for Loan Losses	12.97	37.52	26.18	-9.42	38.18	11
Revenue	504.47	527.76	406.07	356.17	286.13	288.4
Revenue Growth (YoY)	2.51%	29.97%	14.01%	24.48%	-0.78%	15.58%
Salaries and Employee Benefits	171.51	180.52	128.77	106.47	96.78	80.28
Federal Deposit Insurance	9.36	8.63	3.14	2.41	1.27	0.88
Amortization of Goodwill & Intangibles	26.64	28.73	9.1	5.03	5.86	5.83
Selling, General & Administrative	105.45	108.87	80.71	67.32	63.37	58.52
Other Non-Interest Expense	29.96	30.39	24.85	16.47	16.02	15.18
Total Non-Interest Expense	343.64	358.12	245.03	197.44	185.55	160.74
EBT Excluding Unusual Items	160.83	169.64	161.04	158.74	100.58	127.66
Pretax Income	151.28	134.25	138.14	158.74	100.58	128.61
Income Tax Expense	34.07	30.22	31.63	34.34	22.82	29.87
Net Income	117.21	104.03	106.51	124.4	77.76	98.74
Net Income to Common	117.21	104.03	106.51	124.4	77.76	98.74
Net Income Growth	21.79%	-2.32%	-14.39%	59.98%	-21.24%	46.77%
Basic Shares Outstanding	85	84	64	57	54	51
Diluted Shares Outstanding	85	84	64	57	54	52
Shares Change (YoY)	13.49%	31.22%	12.57%	5.86%	3.65%	6.73%
EPS (Basic)	1.38	1.24	1.67	2.20	1.45	1.92
EPS (Diluted)	1.37	1.23	1.66	2.18	1.44	1.90
EPS Growth	5.94%	-25.90%	-23.85%	51.39%	-24.21%	37.68%
Dividend Per Share	0.720	0.710	0.640	0.390	-	-
Dividend Growth	4.35%	10.94%	64.10%	-	-	-
Effective Tax Rate	22.52%	22.51%	22.90%	21.63%	22.69%	23.23%

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