Loading...
01/09 22:53
Loading...
Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
The earnings call reveals strong financial performance, including record loan production, increased net income, and growth in deposits and non-interest income. The management's proactive approach to deposit repricing and positive outlook on loan growth and NIM expansion further supports a positive sentiment. Although there are some uncertainties, such as the impact of tariffs and economic volatility, the company's strong capital position and strategic initiatives like the Heartland deal provide confidence. With a market cap of $1.97 billion, the stock is likely to experience a positive movement of 2% to 8% over the next two weeks.
Net Income $31.5 million, an increase from the prior year, reflecting strong loan and deposit growth.
Pre-tax Pre-provision Income $50.6 million, up $2.7 million year-over-year, driven by increased loan and deposit relationships.
Total Deposits $12.6 billion, growing at an annualized rate of 11%, with non-interest-bearing deposits increasing 17%.
Net Interest Income $118.5 million, up 2% from the prior quarter, primarily due to lower deposit costs.
Net Interest Margin 3.48%, expanded by 9 basis points year-over-year, driven by lower deposit costs.
Tangible Book Value per Share $16.71, representing a 10% year-over-year increase.
Loan Growth 6% annualized growth, with production of $555 million in the first quarter.
Non-interest Income $22 million, an 8% increase from the first quarter of 2024, driven by growth in wealth management and insurance.
Non-interest Expense $90.6 million, including $1.1 million in merger-related expenses, reflecting seasonal increases.
Allowance for Credit Losses $140.3 million, flat to the prior quarter, representing 1.34% of total loans.
Non-performing Loans 0.68% of total loans, a decrease of approximately $21 million from the prior quarter.
Average Yield on Securities 3.88%, increased due to recent purchases at higher yields.
Cost of Deposits 1.93%, decreased by 15 basis points due to proactive deposit repricing.
New Branch Locations: Seacoast grew its branch footprint during the quarter with two new locations in Fort Lauderdale and Tampa, two of the fastest-growing markets in the state.
Acquisition of Heartland Bancshares: Seacoast is on track to close and convert the acquisition of Heartland Bancshares and Heartland National Bank in the third quarter of 2025.
Loan Growth: Seacoast achieved 6% annualized loan growth and ended the quarter with a healthy late-stage pipeline.
Deposit Growth: Deposit growth was strong at nearly 11% annualized with non-interest-bearing demand deposits growing 17% annualized.
Net Interest Margin: The net interest margin increased by 9 basis points to 3.48%, while the cost of deposits declined by 15 basis points to 1.93%.
Revenue-Generating Talent: Seacoast onboarded another 10 revenue-producing bankers during the quarter, contributing to substantial onboarding and new relationships.
Conservative Approach to Loan Losses: The provision for loan losses increased due to strong loan growth, with a conservative approach taken until market clarity emerges.
Macroeconomic Environment: There is emerging risk in the macroeconomic environment and increased volatility, which could impact the company's operations.
Loan Growth and Allowance for Credit Losses: The provision for loan losses increased due to strong loan growth, and the company is taking a conservative approach until market clarity emerges.
Impact of Tariffs: The impact of tariffs may add uncertainty to loan growth expectations.
Regulatory Guidance: The company maintains its construction and land development loans and commercial real estate loans well below regulatory guidance, but this remains a risk factor.
Market Uncertainty: The company is closely monitoring the potential impact of economic and fiscal policy decisions on borrowers, indicating a risk related to borrower performance.
Acquisition of Heartland Bancshares: Seacoast is on track to close and convert the acquisition of Heartland Bancshares and Heartland National Bank in the third quarter of 2025.
Talent Investments: Investments in revenue-producing talent have driven substantial onboarding and new relationships, with 10 new bankers onboarded during the quarter.
Branch Expansion: Seacoast grew its branch footprint with two new locations in Fort Lauderdale and Tampa, two of the fastest-growing markets in Florida.
Loan Growth Strategy: The company expects mid to high single-digit loan growth for the full year 2025, despite potential uncertainties from tariffs.
Net Interest Income: Seacoast expects net interest income to continue to grow through the remainder of the year.
Non-Interest Income: Guidance for non-interest income in the second quarter is projected to be in the range of $20 million to $22 million.
Deposit Growth: The company anticipates low to mid-single-digit deposit growth for the full year 2025.
Adjusted Expenses: Adjusted expenses for the second quarter, excluding merger-related costs, are expected to be in the range of $87 million to $89 million.
Tangible Book Value per Share: Tangible book value per share increased 10% year-over-year to $16.71.
Net Income: Seacoast reported net income of $31.5 million or $0.37 per share in the first quarter.
Deposit Growth: Total deposits increased to $12.6 billion, growing at an 11% annualized rate from the prior quarter.
Non-Interest-Bearing Deposits Growth: Non-interest-bearing accounts grew at 17% annualized.
Cost of Deposits: The cost of deposits declined 15 basis points to 1.93%.
Loan Growth: Loan production was strong with growth in balances near 6% on an annualized basis.
Pre-Tax Pre-Provision Income: Pre-tax pre-provision income increased $2.7 million to $50.6 million.
The earnings call reveals strong financial performance, with high noninterest income, disciplined credit management, and a promising growth outlook. Despite increased expenses, the company is expanding strategically, with the Villages acquisition enhancing profitability. The Q&A section further supports a positive sentiment, highlighting successful integration plans and growth strategies, particularly in Atlanta. However, vague responses on cost savings and loan growth strategy slightly temper the optimism. Given the market cap, these factors suggest a positive stock price movement of 2% to 8% over the next two weeks.
The earnings call summary shows strong financial performance with loan growth and stable credit quality. The Q&A highlights proactive strategies in managing funding costs and competitive positioning. Despite competitive challenges, the company maintains a positive outlook on growth and profitability. The acquisition strategy and focus on core deposits are likely to enhance margins. The market cap indicates a moderate reaction to these positive developments, suggesting a positive sentiment with expected stock price movement between 2% to 8%.
The earnings call reveals strong financial performance, including record loan production, increased net income, and growth in deposits and non-interest income. The management's proactive approach to deposit repricing and positive outlook on loan growth and NIM expansion further supports a positive sentiment. Although there are some uncertainties, such as the impact of tariffs and economic volatility, the company's strong capital position and strategic initiatives like the Heartland deal provide confidence. With a market cap of $1.97 billion, the stock is likely to experience a positive movement of 2% to 8% over the next two weeks.
The earnings call presents strong financial performance with record loan production, significant loan and deposit growth, and an increase in net income and tangible book value per share. The Q&A section supports confidence in loan growth and NIM targets despite macro uncertainties. However, there are no shareholder returns via buybacks or dividends, and management was unclear on some questions, slightly tempering enthusiasm. Given the market cap, the positive financials and guidance suggest a stock price increase of 2% to 8% over the next two weeks.
All transcripts are sourced directly from the official live webcast or the company’s official investor relations website. We use the exact words spoken during the call with no paraphrasing of the core discussion.
Full verbatim transcripts are typically published within 4–12 hours after the call ends. Same-day availability is guaranteed for all S&P 500 and most mid-cap companies.
No material content is ever changed or summarized in the “Full Transcript” section. We only correct obvious spoken typos (e.g., “um”, “ah”, repeated 10 times”, or clear misspoken ticker symbols) and add speaker names/titles for readability. Every substantive sentence remains 100% as spoken.
When audio quality is poor or multiple speakers talk over each other, we mark the section instead of guessing. This ensures complete accuracy rather than introducing potential errors.
They are generated by a specialized financial-language model trained exclusively on 15+ years of earnings transcripts. The model extracts financial figures, guidance, and tone with 97%+ accuracy and is regularly validated against human analysts. The full raw transcript always remains available for verification.
