Seacoast Banking Corporation 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)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments201,940737,729404,088124,531115,951109,504
Cash and cash equivalents201,940737,729404,088124,531115,951109,504
Debt securities, held-to-maturity, accrued interest, after allowance for credit loss 1,300  
Total current assets:203,240737,729404,088124,531115,951109,504
Noncurrent Assets
Operating lease, right-of-use asset 47,50035,25625,53826,165
Property, plant and equipment116,89272,40475,11766,61571,02466,883
Intangible assets, net (including goodwill)555,770266,999237,921225,352230,730166,677
Goodwill480,319252,154221,176205,286204,753147,578
Intangible assets, net (excluding goodwill)75,45114,84516,74520,06625,97719,099
Deferred costs    19,900  
Deferred income tax assets94,45727,32123,62916,457
Other noncurrent assets  162,214141,740128,117110,246
Total noncurrent assets:814,619401,980524,419496,229429,871343,806
Other undisclosed assets11,127,9038,541,7247,413,8856,487,7516,201,8375,356,819
TOTAL ASSETS:12,145,7629,681,4338,342,3927,108,5116,747,6595,810,129
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt172,029121,565119,60986,121214,323216,094
Total current liabilities:172,029121,565119,60986,121214,323216,094
Noncurrent Liabilities
Liabilities, other than long-term debt  88,45565,91341,02530,130
Other liabilities  88,45565,91341,02530,130
Total noncurrent liabilities:  88,45565,91341,02530,130
Other undisclosed liabilities10,365,9588,249,1327,003,9265,970,8385,628,0444,874,241
Total liabilities:10,537,9878,370,6977,211,9906,122,8725,883,3925,120,465
Equity
Equity, attributable to parent1,607,7751,310,7361,130,402985,639864,267689,664
Common stock7,1625,8505,5245,1515,1364,693
Treasury stock, value(13,019)(10,569)(8,285)(6,032)(3,384)(2,359)
Additional paid in capital1,377,802963,851856,092786,242778,501661,632
Accumulated other comprehensive income (loss)(188,033)(6,994)20,3704,465(13,060)(4,216)
Retained earnings423,863358,598256,701195,81397,07429,914
Total equity:1,607,7751,310,7361,130,402985,639864,267689,664
TOTAL LIABILITIES AND EQUITY:12,145,7629,681,4338,342,3927,108,5116,747,6595,810,129

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues372,874281,254284,538288,353261,921204,333
Net investment income372,874281,254284,538286,444238,728189,180
Cost of revenue   (37,779)(10,999)(11,730)(5,648)
Provision for loan, lease, and other losses   (37,779)(10,999) 
Financial services costs(11,730)(5,648)
Gross profit:372,874281,254246,759277,354250,191198,685
Operating expenses(235,064)(173,430)(160,127)(138,385)(135,651) 
Other operating income, net
(Noninterest Income, Other Operating Income)
13,13910,759    
Operating income:150,949118,58386,632138,969114,540198,685
Nonoperating income4,4763,5764,7964,8913,66886
Investment income, nonoperating(1,096)(578)1,2351,217(623)86
Bank owned life insurance income5,5724,1543,5613,6744,291 
Interest and debt expense(14,332)(8,219)(24,292)(46,205)(29,883)(15,300)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(2,957)44,79833,44630,957(791)(104,270)
Income from continuing operations before equity method investments, income taxes:138,136158,738100,582128,61287,53479,201
Other undisclosed income from continuing operations before income taxes      
Income from continuing operations before income taxes:138,136158,738100,582128,61287,53479,201
Income tax expense(31,629)(34,335)(22,818)(29,873)(20,259)(36,336)
Income from continuing operations:106,507124,40377,76498,73967,27542,865
Income before gain (loss) on sale of properties:124,40377,76498,73967,27542,865
Net income available to common stockholders, diluted:106,507124,40377,76498,73967,27542,865

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:106,507124,40377,76498,73967,27542,865
Other comprehensive income (loss)    (5,868)3,272(2,483)
Comprehensive income:106,507124,40377,76492,87170,54740,382
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(181,039)(27,364)15,90523,393(12,231)6,486
Comprehensive income (loss), net of tax, attributable to parent:(74,532)97,03993,669116,26458,31646,868

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: