Seacoast Banking Corporation of Florida (SBCF) Reports In-Line Q3 EPS

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Go back to Seacoast Banking Corporation of Florida (SBCF) Reports In-Line Q3 EPS

Seacoast Q3 Net Income Rises More Than 48% Year-over-Year to $4.4 Million

October 22, 2015 4:06 PM EDT

STUART, Fla., Oct. 22, 2015 /PRNewswire/ --

Third Quarter 2015 Earnings Highlights

Revenues increased $2.6 million to a record $37.1 million, or 7.5% compared to Q2 2015, and $13.7 million, or 59% compared to Q3 2014. Net interest margin increased 58 basis points year-over-year to 3.75% and net interest income improved $11.8 million or 69%, reflecting organic growth and acquisition activity. Adjusted net income excluding merger costs and other adjustments1 increased 96% to $6.4 million, or $ 0.19 per diluted share, compared to $3.3 million, or $0.13 per diluted share, in Q3 2014.

Third Quarter 2015 Growth Highlights

Loans increased $162 million or 8% compared to Q2 2015, and rose 51%... More