Seacoast Banking Corporation of Florida reported second-quarter 2026 net income of $59.5 million, or $0.55 per share, and reiterated its full-year guidance for high single-digit loan growth after completing the conversion of Citizens First Bank and the Villages onto its systems. Adjusted net income was $65.8 million, or $0.61 per share, while net interest income rose $4 million from the prior quarter to $182.2 million and the core net interest margin expanded 8 basis points to 3.65%. Organic loan growth reached 16% annualized, supported by a record $1.3 billion commercial pipeline, and total deposits increased at a 4% annualized rate as the cost of deposits declined to 1.53%. Chairman and CEO Charles Shaffer said the successful integration caps a transformative period of M&A and allows the company to focus fully on organic growth, while CFO Tracey Dexter noted that noninterest expense of $123.1 million included $8.4 million in merger costs and that the efficiency ratio improved to 58.5% on a GAAP basis. Management acknowledged a hypercompetitive environment but emphasized balance sheet flexibility and disciplined underwriting, with Shaffer stating that growth is on track for the remainder of 2026.
Seacoast Banking Corporation of FloridaReported strong Q2 earnings, reiterated high single-digit loan growth guidance, and completed successful system conversion, indicating improved operational efficiency.