Seacoast Banking of Florida (SBCF) Q3 2026 earnings summary

Executive summary

• Q3 net income was $59.9 million, or $0.55 diluted EPS; adjusted net income was $71.8 million, or $0.66 adjusted diluted EPS.

• Adjusted net income rose 9% QoQ and 59% YoY; adjusted pre-tax, pre-provision earnings increased 5% QoQ and 49% YoY.

• Organic loans grew 13% annualized in Q3 and 10% annualized YTD; Citizens First conversion and VBI integration were completed.

Financial highlights

• GAAP net interest income was $183.4 million, up 2% QoQ and 37% YoY; fully taxable-equivalent NII was $185.4 million, up $3.2 million QoQ.

• Net revenues were $215.0 million, up 3% QoQ and 37% YoY; adjusted net revenues were $217.5 million, up 4% QoQ and 37% YoY.

• Noninterest income was $31.6 million, up 14% QoQ and 33% YoY; adjusted noninterest income excluding securities activity was $32.1 million, up 15% QoQ.

• Noninterest expense was $133.3 million, up 8% QoQ and 31% YoY, including $15.5 million in merger and integration costs; adjusted expense was $117.8 million.

• Nine-month net income was $151.3 million versus $110.6 million; adjusted net income was $205.4 million versus $121.7 million.

Outlook and guidance

• FY'26 adjusted diluted EPS guidance is $2.48–$2.52; adjusted revenue growth guidance is 28%–31%, with an adjusted efficiency ratio of 53%–55%.

• Organic loan growth is forecast at high single digits and organic deposit growth at low-to-mid single digits; Q4 loan growth outlook is ~10% annualized.

• Management expects to reach the high end of 2026 guidance and exit the year strongly; Q4 adjusted ROA and adjusted ROTE outlook is 1.30% and 16.0%.

• No significant additional VBI or Heartland integration costs are expected; Q4 includes ~$2.4 million of discrete expenses not expected to recur in 2027.

• Margin expansion into Q4 is expected from seasonal public-fund deposits at lower rates; continued expansion into 2027 partly depends on a persistently high long end of the yield curve.