Seacoast Banking Corporation of Florida (SBCF) Reports In-Line Q1 EPS

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Go back to Seacoast Banking Corporation of Florida (SBCF) Reports In-Line Q1 EPS

Seacoast Banking Reports First Quarter 2016 Results

April 28, 2016 4:26 PM EDT

STUART, Fla., April 28, 2016 /PRNewswire/ --

First Quarter 2016 Earnings Highlights

Adjusted revenues1 increased $5.9 million, or 18% year-over-year, to $38.9 million; and increased $2.0 million, or 5% (not annualized), from fourth quarter 2015 levels. Net interest income improved $4.5 million, or 18% year-over-year, as organic loan growth was supplemented by successful acquisitions. Net interest margin increased year-over-year and sequentially to 3.68%. Adjusted net income1 increased 10% to $6.8 million compared to $6.2 million in the first quarter 2015.

First Quarter 2016 Growth Highlights

Integration of Floridian Financial Group, Inc. was successfully completed during March,... More