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An update from Seacoast Banking Of Florida ( (SBCF) ) is now available.
Seacoast Banking Corporation of Florida reported strong financial results for the fourth quarter and full year of 2024. The company’s net income for the fourth quarter increased to $34.1 million, with a net interest margin expansion of 22 basis points to 3.39%. Despite challenges from two hurricanes, Seacoast achieved significant revenue growth, record loan production, and a 33% increase in adjusted net income. The company’s strategic initiatives include expanding its commercial lending team and treasury deposit products, positioning it for future growth and profitability. Seacoast’s balance sheet remains strong, with a tangible common equity ratio of 9.6% and a loan-to-deposit ratio of 84%, providing opportunities for further client service in its economically vibrant footprint.
More about Seacoast Banking Of Florida
Seacoast Banking Corporation of Florida is a financial institution that operates in the banking industry. The company primarily offers banking services and products, focusing on building a strong core deposit franchise and expanding its commercial lending team and treasury deposit products.
YTD Price Performance: 0.22%
Average Trading Volume: 394,751
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.28B
See more data about SBCF stock on TipRanks’ Stock Analysis page.
