Seacoast Banking of Florida (SBCF) Investor presentation summary

Strategic growth and acquisitions

• Achieved consistent asset growth through a balanced strategy of organic expansion and targeted M&A, with a compound annual growth rate of 18.6% since 2014 and 19.1% since 2019.

• Recent transformative acquisition of Villages Bancorporation added $4.4 billion in assets, $1.2 billion in loans, and $3.5 billion in low-cost deposits, securing a 51% market share in The Villages community.

• The acquisition created a $21 billion asset franchise, making it the second largest publicly traded bank in Florida by deposit market share.

• Integration of VBI is expected to deliver ~24% earnings accretion with limited execution risk and significant long-term franchise value.

• Strategic focus on expanding in high-growth Florida markets and leveraging exclusivity provisions for future scalability.

Financial performance and outlook

• Adjusted net income for Q1 2026 was $67.8 million, up 42% from the prior quarter and 111% year-over-year; adjusted EPS was $0.62.

• Net interest margin rose to 3.83%, with cost of deposits declining to 1.54%; organic deposit growth was 7% annualized, and noninterest-bearing deposits grew 29% annualized.

• 2026 outlook projects 28–31% revenue growth, adjusted efficiency ratio of 53–55%, and adjusted EPS of $2.48–$2.52.

• Wealth management assets under management reached $2.8 billion, up 33% year-over-year, with a 21% CAGR since 2022.

• Maintains a robust capital position with a Tier 1 capital ratio of 14.6% and tangible equity to tangible assets ratio of 9.2%.

Asset quality, loan portfolio, and funding

• Loan portfolio is diversified across residential, commercial, consumer, and various CRE segments, with an average loan size of $439,000.

• Allowance for credit losses stood at $176 million (1.39% of loans), with strong asset quality metrics: NCOs/average loans at 0.03% and NPLs/total loans at 0.55% as of Q1 2026.

• Commercial loan pipeline exceeded $1 billion at quarter-end, supporting disciplined loan growth.

• Deposit base is granular and relationship-focused, with the top ten depositors representing only 3% of total deposits; average customer tenure is 11 years.

• Customer transaction accounts make up 50% of deposits, with a balanced mix between consumer and business accounts.