Seacoast (SBCF) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Wed, April 29, 2026 astatine 10:11 AM CDT 22 min read

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DATE

Wednesday, April 29, 2026 astatine 10 a.m. ET

CALL PARTICIPANTS

• Chief Executive Officer — Chuck Shaffer

• Chief Financial Officer — Tracey Dexter

• Chief Strategy Officer — Michael Young

• Chief Credit Officer — James Stallings

Full Conference Call Transcript

Chuck Shaffer: Okay. Thank you, Kate, and bully morning, everyone. And convey you for joining us. As we determination done today's presentation, we volition notation our archetypal 4th 2026 net descent deck, which is disposable connected our website, cecosbanking.com. Joining maine contiguous is Tracey Dexter, our main fiscal officer, Michael Young, our main strategy officer, and James Stallings, our main recognition officer. The Seacoast Banking Corporation of Florida squad delivered different large quarter, highlighted by robust deposit growth, peculiarly successful noninterest-bearing deposits, meaningful enlargement successful the nett involvement margin, and coagulated advancement towards fiscal guidance we introduced past quarter.

Commercial indebtedness accumulation momentum remains strong, up 35% twelvemonth implicit year, and arsenic expected, the archetypal 4th indebtedness maturation was seasonally softer and further impacted by elevated payoffs. Importantly, our indebtedness pipeline remains strong, and we expect payoffs to mean successful the coming quarters, supporting a instrumentality to stronger indebtedness maturation arsenic the twelvemonth progresses. Asset prime remains exceptional with constricted charge-offs, nary alteration successful criticized and classified assets from the anterior quarter, and a humble uptick successful nonaccrual loans. Noninterest income continued to execute well, driven by spot crossed wealthiness management, insurance, treasury, and our owe businesses. And our enlargement successful The Villages is already delivering results, with coagulated owe accumulation and increasing request for wealthiness absorption services.

Expense subject remained fantabulous this quarter. Overhead was good controlled. Adjusted ratio ratio was 55%, and the ratio of adjusted noninterest disbursal to tangible assets remained adjacent 2.1%, adjacent arsenic we proceed to put deliberately successful growth. Our strategy to thrust improved shareholder returns remains firmly connected track. Excluding merger-related costs associated with the Villages Bank Corporation, our instrumentality illustration continues to strengthen. For the quarter, adjusted instrumentality connected assets was 1.31%, and the adjusted instrumentality connected tangible equity was 16.3%. These results underscore the beardown net powerfulness of the combined franchise. Looking ahead, we stay assured successful our 2026 outlook.

As outlined successful the descent deck, we proceed to expect full-year net per stock successful a scope of $2.48 to $2.52 contempt 2 less complaint cuts. And finally, superior and liquidity stay exceptionally strong. We proceed to run with a fortress equilibrium expanse and stay 1 of the strongest banks successful the industry. With that, I volition crook it implicit to Tracey to locomotion done our fiscal results.