SEACOAST BANKING CORP OF FLORIDA (SBCF) Financial Statements (2024 and earlier)

Company Profile

Business Address 815 COLORADO AVE
STUART, FL 34994
State of Incorp. FL
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments447,182201,940737,729404,088124,531115,951
Cash and cash equivalents447,182201,940737,729404,088124,531115,951
Debt securities, held-to-maturity, accrued interest, after allowance for credit loss1,1001,300  
Total current assets:448,282203,240737,729404,088124,531115,951
Noncurrent Assets
Operating lease, right-of-use asset 46,77247,50035,25625,53826,165
Property, plant and equipment113,304116,89272,40475,11766,61571,024
Intangible assets, net (including goodwill)828,062555,770266,999237,921225,352230,730
Goodwill732,417480,319252,154221,176205,286204,753
Intangible assets, net (excluding goodwill)95,64575,45114,84516,74520,06625,977
Deferred costs     19,900 
Deferred income tax assets113,23294,45727,32123,62916,457
Other noncurrent assets    162,214141,740128,117
Total noncurrent assets:1,101,370814,619401,980524,419496,229429,871
Other undisclosed assets13,030,59711,127,9038,541,7247,413,8856,487,7516,201,837
TOTAL ASSETS:14,580,24912,145,7629,681,4338,342,3927,108,5116,747,659
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt374,573172,029121,565119,60986,121214,323
Deferred compensation liability 400     
Total current liabilities:374,973172,029121,565119,60986,121214,323
Noncurrent Liabilities
Long-term debt and lease obligation 106,302     
Long-term debt, excluding current maturities 106,302     
Liabilities, other than long-term debt    88,45565,91341,025
Other liabilities    88,45565,91341,025
Total noncurrent liabilities: 106,302  88,45565,91341,025
Other undisclosed liabilities11,990,88810,365,9588,249,1327,003,9265,970,8385,628,044
Total liabilities:12,472,16310,537,9878,370,6977,211,9906,122,8725,883,392
Equity
Equity, attributable to parent2,108,0861,607,7751,310,7361,130,402985,639864,267
Common stock8,4867,1625,8505,5245,1515,136
Treasury stock, value(16,710)(13,019)(10,569)(8,285)(6,032)(3,384)
Additional paid in capital1,808,8831,377,802963,851856,092786,242778,501
Accumulated other comprehensive income (loss)(159,878)(188,033)(6,994)20,3704,465(13,060)
Retained earnings467,305423,863358,598256,701195,81397,074
Total equity:2,108,0861,607,7751,310,7361,130,402985,639864,267
TOTAL LIABILITIES AND EQUITY:14,580,24912,145,7629,681,4338,342,3927,108,5116,747,659

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues664,385372,874281,254284,538288,353261,921
Net investment income664,385372,874281,254284,538286,444238,728
Cost of revenue    (37,779)(10,999)(11,730)
Provision for loan, lease, and other losses    (37,779)(10,999) 
Financial services costs(11,730)
Gross profit:664,385372,874281,254246,759277,354250,191
Operating expenses(346,921)(235,064)(173,430)(160,127)(138,385)(135,651)
Other operating income, net
(Noninterest Income, Other Operating Income)
20,30413,13910,759   
Operating income:337,768150,949118,58386,632138,969114,540
Nonoperating income5,5084,4763,5764,7964,8913,668
Investment income, nonoperating(2,893)(1,096)(578)1,2351,217(623)
Bank owned life insurance income8,4015,5724,1543,5613,6744,291
Interest and debt expense(200,735)(14,332)(8,219)(24,292)(46,205)(29,883)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes  (2,957)44,79833,44630,957(791)
Income from continuing operations before equity method investments, income taxes:142,541138,136158,738100,582128,61287,534
Other undisclosed income (loss) from continuing operations before income taxes(8,289)     
Income from continuing operations before income taxes:134,252138,136158,738100,582128,61287,534
Income tax expense(30,219)(31,629)(34,335)(22,818)(29,873)(20,259)
Income from continuing operations:104,033106,507124,40377,76498,73967,275
Income before gain (loss) on sale of properties:124,40377,76498,73967,275
Net income available to common stockholders, diluted:104,033106,507124,40377,76498,73967,275

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:104,033106,507124,40377,76498,73967,275
Other comprehensive income (loss)     (5,868)3,272
Comprehensive income:104,033106,507124,40377,76492,87170,547
Other undisclosed comprehensive income (loss), net of tax, attributable to parent28,155(181,039)(27,364)15,90523,393(12,231)
Comprehensive income (loss), net of tax, attributable to parent:132,188(74,532)97,03993,669116,26458,316

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

Login to ReadyRatios

 

Have you forgotten your password?

Are you a new user?

Login As
You can log in if you are registered at one of these services: