Seacoast Banking reports Q1 EPS 36c, consensus 55c

Reports Q1 revenue $151.5M , consensus $156.29M . Charles M. Shaffer, Seacoast’s Chairman and CEO said, "Seacoast delivered another quarter of strong financial performance, with continued solid growth in pre-tax pre-provision earnings. We closed on our acquisition of Professional, increasing Seacoast’s market share in the attractive and fast-growing South Florida market." Shaffer added, "Recent events in the banking industry nationally emphasize the importance of Seacoast’s strong deposit franchise, disciplined credit and conservative balance sheet principles. Over our 96-year history, Seacoast has focused on executing a balanced growth strategy that emphasizes a relationship-driven approach to customer acquisition. This, in turn, has produced a granular and diverse loan portfolio and a broadly diversified and stable funding base. We today serve more than 270,000 customers in a wide variety of segments and industries, including consumers, small businesses, middle market operating companies, municipalities, and other governmental entities."