Seacoast Reports Third Quarter 2025 Results

Provided By Business Wire

Last update: Oct 27, 2025

Seacoast Banking Corporation of Florida ("Seacoast" or the "Company") (NASDAQ: SBCF) today reported net income in the third quarter of 2025 of $36.5 million, or $0.42 per diluted share, compared to $42.7 million, or $0.50 per diluted share, in the second quarter of 2025 and $30.7 million, or $0.36 per diluted share, in the third quarter of 2024. For the nine months ended September 30, 2025 and 2024, net income was $110.6 million, or $1.28 per diluted share, and $86.9 million, or $1.02 per diluted share, respectively.

Adjusted net income¹ for the third quarter of 2025 was $45.2 million, or $0.52 per diluted share, compared to $44.5 million, or $0.52 per diluted share, in the second quarter of 2025 and $30.5 million, or $0.36 per diluted share, in the third quarter of 2024. For the nine months ended September 30, 2025 and 2024, adjusted net income¹ was $121.7 million, or $1.41 per diluted share, and $91.9 million, or $1.08 per diluted share, respectively.

Third Quarter 2025 Highlights

Net income, which included $10.8 million in merger-related charges, increased 19% from the prior year quarter to $36.5 million, or $0.42 per share.

Adjusted net income¹ increased 48% from the prior year quarter to $45.2 million, or $0.52 per share.

7% annualized organic deposit growth.

8% annualized organic loan growth.

Tangible book value per share of $17.61, representing a 9% increase year over year, well overcoming the dilutive effect of the Heartland acquisition.

Continued industry-leading strength in capital and liquidity.

Charles M. Shaffer, Seacoast's Chairman and CEO, stated, “Our competitive transformation is being realized and is delivering exceptional results. In the third quarter, we sustained strong momentum in growing net interest income, driven by very strong performance in both loan and deposit growth.”

Shaffer added, “Strategic investments in high quality bankers have fueled robust loan production and pipeline expansion, contributing to consistent gains across our diversified revenue streams—including treasury management, wealth management, and insurance agency income. We remain steadfast in our disciplined approach to credit, and our balance sheet ranks among the strongest in the industry, with a tangible common equity to tangible assets ratio rising to 9.76% and a Tier 1 capital ratio of 14.5% as of September 30, 2025.”

Shaffer concluded, “We’re pleased to have closed The Villages Bancorporation, Inc. acquisition on October 1, 2025, which, combined with the closing of our Heartland Bancshares, Inc. acquisition in July of 2025, will position us for even stronger profitability measures and earnings in the periods ahead.”

Pre-tax pre-provision earnings¹ were $55.9 million in the third quarter of 2025 and included $10.8 million in merger-related charges. Pre-tax pre-provision earnings¹ in the third quarter of 2025 decreased $4.3 million, or 7%, compared to the second quarter of 2025 and increased $9.8 million, or 21%, compared to the third quarter of 2024. For the nine months ended September 30, 2025 and 2024, pre-tax pre-provision earnings¹ were $166.7 million and $126.3 million, respectively. Adjusted pre-tax pre-provision earnings¹ were $67.2 million in the third quarter of 2025, an increase of $4.6 million, or 7%, compared to the second quarter of 2025 and an increase of $20.8 million, or 45%, compared to the third quarter of 2024. For the nine months ended September 30, 2025 and 2024, adjusted pre-tax pre-provision earnings¹ were $181.5 million and $133.4 million, respectively.

For the third quarter of 2025, return on average tangible assets was 1.04% and return on average tangible shareholders' equity was 10.70%, compared to 1.24% and 12.82%, respectively, in the prior quarter, and 0.99% and 10.31%, respectively, in the prior year quarter. For the nine months ended September 30, 2025, return on average tangible assets was 1.09% and return on average tangible shareholders' equity was 11.23%. For the nine months ended September 30, 2024, return on average tangible assets was 0.96% and return on average tangible shareholders' equity was 10.21%. Adjusted return on average tangible assets¹ in the third quarter of 2025 was 1.26% and adjusted return on average tangible shareholders' equity¹was 12.98%, compared to 1.29% and 13.31%, respectively, in the prior quarter, and 0.98% and 10.27%, respectively, in the prior year quarter. For the nine months ended September 30, 2025, adjusted return on average tangible assets¹ was 1.19% and adjusted return on average tangible shareholders' equity¹ was 12.25%. For the nine months ended September 30, 2024, adjusted return on average tangible assets¹ was 1.01% and adjusted return on average tangible shareholders' equity¹ was 10.72%.

Acquisitions Update

On July 11, 2025, the Company completed its acquisition of Heartland Bancshares, Inc. (“Heartland”), adding approximately $153.3 million in loans and $705.2 million in deposits, along with four branches in Central Florida. Integration activities, including system conversion, were also completed in the third quarter of 2025.

On October 1, 2025, the Company completed its acquisition of Villages Bancorporation, Inc (“VBI”). This transformative transaction expands the Company’s presence in North Central Florida and into The Villages® community, adding 19 branches and approximately $4 billion in assets. VBI’s future growth potential and low loan-to-deposit ratio provide significant opportunity for expansive growth throughout the Seacoast footprint. Full integration and system conversion activities are expected to be completed in the third quarter of 2026.

Financial Results

Income Statement

Net income in the third quarter of 2025 was $36.5 million, or $0.42 per diluted share, compared to $42.7 million, or $0.50 per diluted share, in the prior quarter and $30.7 million, or $0.36 per diluted share, in the prior year quarter. Adjusted net income¹ for the third quarter of 2025 was $45.2 million, or $0.52 per diluted share, compared to $44.5 million, or $0.52 per diluted share, for the prior quarter, and $30.5 million, or $0.36 per diluted share, for the prior year quarter.

Net revenues were $157.3 million in the third quarter of 2025, an increase of $5.9 million, or 4%, compared to the prior quarter, and an increase of $26.9 million, or 21%, compared to the prior year quarter. Adjusted net revenues¹ were $158.6 million in the third quarter of 2025, an increase of $6.8 million, or 4%, compared to the prior quarter, and an increase of $28.1 million, or 22%, compared to the prior year quarter.

Pre-tax pre-provision earnings¹ were $55.9 million in the third quarter of 2025 and included $10.8 million in merger-related charges. Pre-tax pre-provision earnings¹ in the third quarter of 2025 decreased $4.3 million, or 7%, compared to the second quarter of 2025 and increased $9.8 million, or 21%, compared to the third quarter of 2024. Adjusted pre-tax pre-provision earnings¹ were $67.2 million in the third quarter of 2025, an increase of $4.6 million, or 7%, compared to the second quarter of 2025 and an increase of $20.8 million, or 45%, compared to the third quarter of 2024.

Net interest income totaled $133.5 million in the third quarter of 2025, an increase of $6.6 million, or 5%, compared to the prior quarter, and an increase of $26.8 million, or 25%, compared to the third quarter of 2024. The increase was largely driven by growing loan and securities balances. Interest income on loans increased by $4.8 million in the third quarter of 2025, reflecting continued strong loan production. Securities income increased $3.5 million, or 11%, with year-to-date purchases at higher yields. Included in loan interest income was accretion on acquired loans of $9.5 million in the third quarter of 2025, $10.6 million in the second quarter of 2025, and $9.2 million in the third quarter of 2024. Interest expense on deposits increased $2.5 million, or 6%, compared to the prior quarter, and decreased $8.8 million, or 17%, compared to the third quarter of 2024. The increase from prior quarter reflects higher balances through both organic growth and from the Heartland acquisition. Interest expense on borrowed money decreased $1.0 million, or 9%, compared to the prior quarter, and increased $3.3 million, or 51%, compared to third quarter of 2024. The decrease from the prior quarter reflects a partial repayment of wholesale borrowings during the quarter and the increase from the prior year quarter is largely due to higher short-term borrowings used to fund strategic purchases of securities in advance of the Heartland and Villages acquisitions.

Net interest margin decreased one basis point to 3.57% in the third quarter of 2025 compared to 3.58% in the second quarter of 2025. Excluding the effects of accretion on acquired loans, net interest margin expanded three basis points to 3.32% in the third quarter of 2025 compared to 3.29% in the second quarter of 2025. Loan yields were 5.96%, a decrease of two basis points from the prior quarter. Securities yields increased five basis points to 3.92%, compared to 3.87% in the prior quarter. While the cost of deposits increased one basis point from 1.80% in the prior quarter to 1.81% in the third quarter of 2025, the cost of funds declined three basis points to 1.96% quarter over quarter.

The provision for credit losses was $8.4 million in the third quarter of 2025, largely the result of organic growth in loans. The acquisition of Heartland resulted in a day-one provision of $1.9 million. Allowance coverage of 1.34% remains flat compared to June 30, 2025.

Noninterest income totaled $23.8 million in the third quarter of 2025, a decrease of $0.7 million, or 3%, compared to the prior quarter, and an increase of $0.1 million, or 1%, compared to the prior year quarter. Results for the third quarter of 2025 included $0.8 million in realized losses on securities. Other changes compared to the second quarter of 2025 included:

Service charges on deposits totaled $6.2 million, an increase of $0.7 million, or 12% from the prior quarter, and an increase of $0.8 million, or 14%, from the prior year quarter. Our investments in talent and significant market expansion have resulted in continued growth in treasury management services to commercial customers.

Wealth management income totaled $4.6 million, an increase of $0.4 million, or 9%, from the prior quarter and an increase of $0.7 million, or 19%, from the prior year quarter. Assets under management have grown 24% year over year. The wealth management division delivered record growth, adding $258.1 million in new assets under management in the third quarter of 2025, the highest quarterly result in the division’s history.

Bank Owned Life Insurance income totaled $3.9 million, an increase of $0.5 million, or 15%, from the prior quarter and an increase of $1.3 million, or 50% from the prior year quarter. Death benefit payouts totaled $1.3 million in the third quarter of 2025 and $0.9 million in the second quarter of 2025.

Other income totaled $6.0 million, a decrease of $1.5 million, or 20%, from the prior quarter and a decrease of $1.9 million, or 24%, from the prior year quarter. The second quarter of 2025 included $3.0 million in tax refunds related to a prior bank acquisition. The resulting comparative decline was partially offset by higher gains on SBA loan sales and higher loan swap fees.

Noninterest expense was $102.0 million in the third quarter of 2025, an increase of $10.3 million, or 11%, compared to the prior quarter, and an increase of $17.2 million, or 20%, compared to the prior year quarter. Merger-related charges totaled $10.8 million in the third quarter of 2025, compared to $2.4 million in the prior quarter. Results in the third quarter of 2025 included:

Salaries and wages totaled $46.3 million, an increase of $1.9 million, or 4%, from the prior quarter and an increase of $5.6 million, or 14%, from the prior year quarter. The increase from the prior quarter reflects the continued expansion of the footprint, including the completion of the acquisition of Heartland, and higher performance driven incentive compensation.

Employee benefits totaled $7.4 million, a decrease of $0.7 million, or 9%, from the prior quarter and an increase of $0.4 million, or 6%, from the prior year quarter.

Outsourced data processing costs totaled $9.3 million, an increase of $0.8 million, or 10%, from the prior quarter and an increase of $1.3 million, or 17%, from the prior year quarter. The increase from the prior quarter reflects higher transaction volume and growth in customers, including from the acquisition of Heartland.

Occupancy costs totaled $7.6 million, an increase of $0.1 million, or 2%, compared to the prior quarter and an increase of $0.5 million, or 7%, from the prior year quarter, largely due to growth in the branch network.

Marketing expenses totaled $2.5 million, reflecting a decrease of $0.4 million, or 15%, compared to the prior quarter and a decrease of $0.2 million, or 8%, from the prior year quarter.

Legal and professional fees totaled $1.7 million, a decrease of $0.4 million, or 19%, compared to the prior quarter and a decrease of $1.0 million, or 38%, from the prior year quarter. Changes between quarters are largely associated with the timing of various projects.

Amortization of intangibles increased $0.9 million with the addition of $20.9 million in core deposit intangible assets from the Heartland acquisition. These assets will be amortized using an accelerated amortization method over approximately 10 years.

Merger-related costs totaled $10.8 million in the third quarter of 2025 and $2.4 million in the second quarter of 2025.

Seacoast recorded $10.5 million of income tax expense in the third quarter of 2025, compared to $12.6 million in the second quarter of 2025, and $8.6 million in the third quarter of 2024. Tax benefits related to stock-based compensation were immaterial in each period.

The efficiency ratio was 60.66% in the third quarter of 2025, compared to 56.95% in the second quarter of 2025 and 59.84% in the prior year quarter. The adjusted efficiency ratio¹,which excludes merger-related charges, improved to 53.84% in the third quarter of 2025, compared to 55.36% in the second quarter of 2025 and 59.84% in the prior year quarter. The Company continues to remain keenly focused on disciplined expense control, while making investments for growth.

Balance Sheet

At September 30, 2025, the Company had total assets of $16.7 billion and total shareholders' equity of $2.4 billion. Book value per share was $27.07 as of September 30, 2025, compared to $26.43 as of June 30, 2025, and $25.68 as of September 30, 2024. Tangible book value per share was $17.61 as of September 30, 2025, compared to $17.19 as of June 30, 2025, and $16.20 as of September 30, 2024. Year over year tangible book value per share increased 9%, overcoming the dilutive impact of the Heartland acquisition.

Debt securities totaled $3.8 billion as of September 30, 2025, an increase of $331.2 million compared to June 30, 2025. Debt securities as of September 30, 2025 included approximately $3.2 billion in securities classified as available-for-sale and recorded at fair value. The unrealized loss on these securities is fully reflected in the value presented on the balance sheet. The portfolio also includes $598.6 million in securities classified as held-to-maturity with a fair value of $498.4 million. Held-to-maturity securities consist solely of mortgage-backed securities and collateralized mortgage obligations guaranteed by U.S. government agencies, each of which is expected to recover any price depreciation over its holding period as the debt securities move to maturity. The Company has significant liquidity and available borrowing capacity and has the intent and ability to hold these investments to maturity. During the third quarter of 2025, the Company purchased approximately $385 million of primarily agency mortgage-backed securities with an average yield of 5.03%.

Loans increased $355.3 million, or 13% annualized during the third quarter of 2025, totaling $11.0 billion as of September 30, 2025. Annualized organic loan growth, after excluding Heartland, was 8%. The Company continues to exercise a disciplined approach to lending and is benefiting from the investments made in recent years to attract talent from large regional and national banks across its markets.

Loan pipelines (loans in underwriting and approval or approved and not yet closed) totaled $1.2 billion as of September 30, 2025, compared to $920.9 million at June 30, 2025 and $831.1 million at September 30, 2024.

Commercial pipelines were $1.1 billion as of September 30, 2025, compared to $861.2 million at June 30, 2025, and $773.5 million at September 30, 2024.

Saleable residential pipelines were $21.3 million as of September 30, 2025, compared to $14.4 million at June 30, 2025, and $11.2 million at September 30, 2024. Retained residential pipelines were $19.9 million as of September 30, 2025, compared to $29.2 million at June 30, 2025, and $21.9 million at September 30, 2024.

Consumer pipelines were $20.3 million as of September 30, 2025, compared to $16.2 million at June 30, 2025 and $24.4 million at September 30, 2024.

Total deposits were $13.1 billion as of September 30, 2025, an increase of $592.7 million, or 19% annualized, when compared to June 30, 2025. This increase includes $705.2 million in deposits from the acquisition of Heartland and $212.3 million in organic growth, offset by a $325.7 million decline in brokered deposits. Organic growth includes $80.4 million in noninterest bearing deposits.

7% annualized organic deposit growth in the third quarter of 2025.

The cost of deposits increased one basis point from 1.80% in the prior quarter to 1.81% in the third quarter of 2025.

At September 30, 2025, customer transaction account balances represented 48% of total deposits. The Company benefits from a granular deposit franchise, with the top ten depositors representing approximately 3% of total deposits.

Consumer deposits represent 41% of overall deposit funding with an average consumer customer balance of $25 thousand. Commercial deposits represent 59% of overall deposit funding with an average business customer balance of $114 thousand.

Federal Home Loan Bank advances totaled $690.0 million at September 30, 2025 with a weighted-average interest rate of 4.04%, compared to advances outstanding of $715.0 million at June 30, 2025 with a weighted-average interest rate of 4.15%.

Asset Quality

The ratio of criticized and classified loans to total loans was 2.50% at September 30, 2025, compared to 2.39% at June 30, 2025, and 2.59% at September 30, 2024.

Nonperforming loans were $60.6 million at September 30, 2025, compared to $64.2 million at June 30, 2025, and $80.9 million at September 30, 2024. Nonperforming loans to total loans outstanding were 0.55% at September 30, 2025, 0.61% at June 30, 2025, and 0.79% at September 30, 2024.

Accruing past due loans were $20.3 million, or 0.19% of total loans, at September 30, 2025, compared to $14.2 million, or 0.13% of total loans, at June 30, 2025, and $50.7 million, or 0.50% of total loans, at September 30, 2024.

Nonperforming assets to total assets were 0.39% at September 30, 2025, compared to 0.44% at June 30, 2025, and 0.58% at September 30, 2024.

The ratio of allowance for credit losses to total loans was 1.34% at September 30, 2025, 1.34% at June 30, 2025, and 1.38% at September 30, 2024.

Net charge-offs were $3.2 million in the third quarter of 2025, or 12 basis points annualized, compared to $2.5 million in the second quarter of 2025 and $7.4 million in the third quarter of 2024.

Portfolio diversification, in terms of asset mix, industry, and loan type, has been a critical element of the Company's lending strategy. Exposure across industries and collateral types is broadly distributed. Seacoast's average loan size is $435 thousand, and the average commercial loan size is $871 thousand, reflecting an ability to maintain granularity within the overall loan portfolio.

Construction and land development and commercial real estate loans remain well below regulatory guidance as of September 30, 2025 at 34% and 236% of total bank-level risk-based capital², respectively, compared to 35% and 239%, respectively, at June 30, 2025. On a consolidated basis and as of September 30, 2025, construction and land development and commercial real estate loans represent 32% and 223%, respectively, of total consolidated risk-based capital².

Capital and Liquidity

The Company continues to operate with a fortress balance sheet, with a Tier 1 capital ratio at September 30, 2025 of 14.5%² compared to 14.6% at June 30, 2025, and 14.8% at September 30, 2024. The Total capital ratio was 15.9%², the Common Equity Tier 1 capital ratio was 13.9%², and the Tier 1 leverage ratio was 10.9%² at September 30, 2025. The Company is considered “well capitalized” based on applicable U.S. regulatory capital ratio requirements.

Cash and cash equivalents at September 30, 2025 totaled $306.0 million.

The Company’s loan-to-deposit ratio was 83.8% at September 30, 2025, which should continue to provide liquidity and flexibility moving forward.

Tangible common equity to tangible assets was 9.76% at September 30, 2025, compared to 9.75% at June 30, 2025, and 9.64% at September 30, 2024. If all held-to-maturity securities were adjusted to fair value, the tangible common equity ratio would have been 9.30% at September 30, 2025.

At September 30, 2025, in addition to $306.0 million in cash, the Company had $6.1 billion in available borrowing capacity, including $3.4 billion in available collateralized lines of credit, $2.3 billion of unpledged debt securities available as collateral for potential additional borrowings, and available unsecured lines of credit of $0.3 billion.

¹Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and for a reconciliation to GAAP.

²Estimated.

FINANCIAL HIGHLIGHTS
(Amounts in thousands except per share data)	(Unaudited)
	Quarterly Trends

	3Q'25			2Q'25			1Q'25			4Q'24			3Q'24
Selected balance sheet data:
Gross loans	$	10,964,173		$	10,608,824		$	10,443,021		$	10,299,950		$	10,205,281
Total deposits		13,090,319			12,497,598			12,574,796			12,242,427			12,243,585
Total assets		16,676,904			15,944,955			15,732,485			15,176,308			15,168,371
Performance measures:
Net income	$	36,467		$	42,687		$	31,464		$	34,085		$	30,651
Net interest margin		3.57	%		3.58	%		3.48	%		3.39	%		3.17	%
Pre-tax pre-provision earnings¹	$	55,887		$	60,236		$	50,590		$	47,858		$	46,086
Average diluted shares outstanding		87,425			85,479			85,388			85,302			85,069
Diluted earnings per share (EPS)		0.42			0.50			0.37			0.40			0.36
Return on (annualized):
Average assets (ROA)		0.88	%		1.08	%		0.83	%		0.89	%		0.81	%
Average tangible assets (ROTA)²		1.04			1.24			0.98			1.06			0.99
Average tangible common equity (ROTCE)²		10.70			12.82			10.17			10.90			10.31
Tangible common equity to tangible assets²		9.76			9.75			9.58			9.60			9.64
Tangible book value per share²	$	17.61		$	17.19		$	16.71		$	16.12		$	16.20
Efficiency ratio		60.66	%		56.95	%		60.28	%		56.26	%		59.84	%
Adjusted operating measures¹:
Adjusted net income	$	45,164		$	44,466		$	32,102		$	40,556		$	30,511
Adjusted pre-tax pre-provision earnings		67,190			62,627			51,686			56,610			46,390
Adjusted diluted EPS		0.52			0.52			0.38			0.48			0.36
Adjusted ROA		1.09	%		1.13	%		0.85	%		1.06	%		0.81	%
Adjusted ROTA²		1.26			1.29			1.00			1.24			0.98
Adjusted ROTCE²		12.98			13.31			10.35			12.74			10.27
Adjusted efficiency ratio		53.84			55.36			59.53			56.07			59.84
Net adjusted noninterest expense as a percent of average tangible assets²		2.16	%		2.25	%		2.33	%		2.19	%		2.19	%
Other data:
Market capitalization³	$	2,673,449		$	2,373,871		$	2,202,958		$	2,355,679		$	2,277,003
Full-time equivalent employees		1,601			1,522			1,518			1,504			1,493
Number of ATMs		103			98			98			96			96
Full-service banking offices		84			79			79			77			77

¹Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP.
²The Company defines tangible assets as total assets less intangible assets, and tangible common equity as total shareholders' equity less intangible assets.
³Common shares outstanding multiplied by closing bid price on last day of each period.

OTHER INFORMATION

Conference Call Information

Seacoast will host a conference call on October 28, 2025, at 10:00 a.m. (Eastern Time) to discuss the third quarter of 2025 earnings results and business trends. Investors may call in (toll-free) by dialing (800) 715-9871 (Conference ID: 6579709). Charts will be used during the conference call and may be accessed at Seacoast’s website at www.SeacoastBanking.com by selecting “Presentations” under the heading “News/Events.” Additionally, a recording of the call will be made available to individuals shortly after the conference call and can be accessed via a link at www.SeacoastBanking.com under the heading “Corporate Information.” The recording will be available for one year.

About Seacoast Banking Corporation of Florida (NASDAQ: SBCF)

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) is one of the largest community banks headquartered in Florida with approximately $16.7 billion in assets and $13.1 billion in deposits as of September 30, 2025. Seacoast provides integrated financial services including commercial and consumer banking, wealth management, and mortgage services to customers at 103 full-service branches across Florida, and through advanced mobile and online banking solutions. Seacoast National Bank is the wholly-owned subsidiary bank of Seacoast Banking Corporation of Florida. 19 branches recently acquired in The Villages® community and in North Central Florida will operate under the name Citizens First Bank until Seacoast’s system conversion takes place in 2026. For more information about Seacoast, visit www.SeacoastBanking.com.

Cautionary Notice Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning, and protections, of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements about future financial and operating results, cost savings, enhanced revenues, economic and seasonal conditions in the Company’s markets, and improvements to reported earnings that may be realized from cost controls, tax law changes, new initiatives and for integration of banks that the Company has acquired, or expects to acquire, as well as statements with respect to Seacoast's objectives, strategic plans, expectations and intentions and other statements that are not historical facts. Actual results may differ from those set forth in the forward-looking statements.

Forward-looking statements include statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates and intentions about future performance and involve known and unknown risks, uncertainties and other factors, which may be beyond the Company’s control, and which may cause the actual results, performance or achievements of Seacoast Banking Corporation of Florida (“Seacoast” or the “Company”) or its wholly-owned banking subsidiary, Seacoast National Bank (“Seacoast Bank”), to be materially different from results, performance or achievements expressed or implied by such forward-looking statements. You should not expect the Company to update any forward-looking statements.

All statements other than statements of historical fact could be forward-looking statements. You can identify these forward-looking statements through the use of words such as "may", "will", "anticipate", "assume", "should", "support", "indicate", "would", "believe", "contemplate", "expect", "estimate", "continue", "further", "plan", "point to", "project", "could", "intend", "target" or other similar words and expressions of the future. These forward-looking statements may not be realized due to a variety of factors, including, without limitation: the impact of current and future economic and market conditions generally (including seasonality) and in the financial services industry, nationally and within Seacoast’s primary market areas, including the effects of inflationary pressures, changes in interest rates, tariffs or trade wars (including reduced consumer spending), slowdowns in economic growth, and the potential for high unemployment rates, as well as the financial stress on borrowers and changes to customer and client behavior and credit risk as a result of the foregoing; potential impacts of adverse developments in the banking industry and including impacts on customer confidence, deposit outflows, liquidity and the regulatory response thereto (including increases in the cost of our deposit insurance assessments), the Company's ability to effectively manage its liquidity risk and any growth plans, and the availability of capital and funding; governmental monetary and fiscal policies, including interest rate policies of the Board of Governors of the Federal Reserve, as well as legislative, tax and regulatory changes, including those that impact the money supply and inflation; the risks of continued changes in interest rates on the level and composition of deposits (as well as the cost of, and competition for, deposits), loan demand, liquidity and the values of loan collateral, securities, and interest rate sensitive assets and liabilities; interest rate risks (including the impacts of interest rates on macroeconomic conditions, customer and client behavior, and on our net interest income), sensitivities and the shape of the yield curve; changes in accounting policies, rules and practices; changes in retail distribution strategies, customer preferences and behavior generally and as a result of economic factors, including heightened or persistent inflation; changes in the availability and cost of credit and capital in the financial markets; changes in the prices, values and sales volumes of residential and commercial real estate, especially as they relate to the value of collateral supporting the Company’s loans; the Company’s concentration in commercial real estate loans and in real estate collateral in Florida; Seacoast’s ability to comply with any regulatory requirements and the risk that the regulatory environment may not be conducive to or may prohibit or delay the consummation of future mergers and/or business combinations, may increase the length of time and amount of resources required to consummate such transactions, and may reduce the anticipated benefit; inaccuracies or other failures from the use of models, including the failure of assumptions and estimates, as well as differences in, and changes to, economic, market and credit conditions; the impact on the valuation of Seacoast’s investments due to market volatility or counterparty payment risk, as well as the effect of a decline in stock market prices on our fee income from our wealth management business; statutory and regulatory dividend restrictions; increases in regulatory capital requirements for banking organizations generally; the risks of mergers, acquisitions and divestitures, including Seacoast’s ability to continue to identify acquisition targets, successfully acquire and integrate desirable financial institutions and realize expected revenues and revenue synergies; changes in technology or products that may be more difficult, costly, or less effective than anticipated; the Company’s ability to identify and address increased cybersecurity risks, including those impacting vendors and other third parties which may be exacerbated by developments in generative artificial intelligence; fraud or misconduct by internal or external parties, which Seacoast may not be able to prevent, detect or mitigate; inability of Seacoast’s risk management framework to manage risks associated with the Company’s business; dependence on key suppliers or vendors to obtain equipment or services for the business on acceptable terms; reduction in or the termination of Seacoast’s ability to use the online- or mobile-based platform that is critical to the Company’s business growth strategy; the effects of war or other conflicts, acts of terrorism, natural disasters, including hurricanes in the Company’s footprint, health emergencies, epidemics or pandemics, or other catastrophic events that may affect general economic conditions and/or increase costs, including, but not limited to, property and casualty and other insurance costs; Seacoast’s ability to maintain adequate internal controls over financial reporting; potential claims, damages, penalties, fines, costs and reputational damage resulting from pending or future litigation, regulatory proceedings and enforcement actions; the risks that deferred tax assets could be reduced if estimates of future taxable income from the Company’s operations and tax planning strategies are less than currently estimated, the results of tax audit findings, challenges to our tax positions, or adverse changes or interpretations of tax laws; the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, non-bank financial technology providers, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions; the failure of assumptions underlying the establishment of reserves for expected credit losses; risks related to, and the costs associated with, environmental, social and governance matters, including the scope and pace of related rulemaking activity and disclosure requirements; government actions or inactions, including a prolonged shutdown of the federal government, a deterioration of the credit rating for U.S. long-term sovereign debt, actions that the U.S. government may take to avoid exceeding the debt ceiling, and uncertainties surrounding the federal budget and economic policy, including the impact of tariffs and trade policies; the risk that balance sheet, revenue growth, and loan growth expectations may differ from actual results; and other factors and risks described herein and under “Risk Factors” in any of the Company's subsequent reports filed with the SEC and available on its website at www.sec.gov.

The risks relating to the mergers with Heartland Bancshares, Inc. and Villages Bancorporation, Inc. include, without limitation: the diversion of management's time on issues related to the mergers; unexpected transaction costs, including the costs of integrating operations; the risks that the businesses will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than expected; the potential failure to fully or timely realize expected revenues and revenue synergies, including as the result of revenues following the mergers being lower than expected; the risk of deposit and customer attrition; regulatory enforcement and litigation risk; any changes in deposit mix; unexpected operating and other costs, which may differ or change from expectations; the risks of customer and employee loss and business disruptions, including, without limitation, as the result of difficulties in maintaining relationships with employees; increased competitive pressures and solicitations of customers by competitors; as well as the difficulties and risks inherent with entering new markets.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in the Company’s annual report on Form 10-K for the year ended December 31, 2024 and in other periodic reports that the Company files with the SEC. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at www.sec.gov.

FINANCIAL HIGHLIGHTS										(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	Quarterly Trends																Nine months ended

(Amounts in thousands, except ratios and per share data)	3Q'25			2Q'25			1Q'25				4Q'24			3Q'24			3Q'25			3Q'24

Summary of Earnings
Net income	$	36,467		$	42,687		$	31,464			$	34,085		$	30,651		$	110,618		$	86,901
Adjusted net income¹		45,164			44,466			32,102				40,556			30,511			121,732			91,920
Net interest income²		133,906			127,295			118,857				116,115			106,975			380,058			316,930
Net interest margin^2,3		3.57	%		3.58	%		3.48	%			3.39	%		3.17	%		3.55	%		3.19	%
Pre-tax pre-provision earnings¹		55,887			60,236			50,590				47,858			46,086			166,713			126,315
Adjusted pre-tax pre-provision earnings¹		67,190			62,627			51,686				56,610			46,390			181,503			133,393

Performance Ratios
Return on average assets-GAAP basis³		0.88	%		1.08	%		0.83	%			0.89	%		0.81	%		0.93	%		0.78	%
Adjusted return on average assets^1,3		1.09			1.13			0.85				1.06			0.81			1.02			0.83
Return on average tangible assets-GAAP basis^3,4		1.04			1.24			0.98				1.06			0.99			1.09			0.96
Adjusted return on average tangible assets^1,3,4		1.26			1.29			1.00				1.24			0.98			1.19			1.01
Net adjusted noninterest expense to average tangible assets^1,3,4		2.16			2.25			2.33				2.19			2.19			2.24			2.20
Return on average shareholders' equity-GAAP basis³		6.17			7.60			5.76				6.16			5.62			6.51			5.44
Return on average tangible common equity-GAAP basis^3,4		10.70			12.82			10.17				10.90			10.31			11.23			10.21
Adjusted return on average tangible common equity^1,3,4		12.98			13.31			10.35				12.74			10.27			12.25			10.72
Efficiency ratio⁵		60.66			56.95			60.28				56.26			59.84			59.29			62.24
Adjusted efficiency ratio¹		53.84			55.36			59.53				56.07			59.84			56.13			60.39
Noninterest income to total revenue (excluding securities gains/losses)		15.59			16.18			15.65				18.02			18.05			15.81			17.27
Tangible common equity to tangible assets⁴		9.76			9.75			9.58				9.60			9.64			9.76			9.64
Average loan-to-deposit ratio		82.99			85.21			84.23				83.14			83.79			84.12			83.80
End of period loan-to-deposit ratio		83.84			84.96			83.17				84.27			83.44			83.84			83.44

Per Share Data
Net income diluted-GAAP basis	$	0.42		$	0.50		$	0.37			$	0.40		$	0.36		$	1.28		$	1.02
Net income basic-GAAP basis		0.42			0.50			0.37				0.40			0.36			1.30			1.03
Adjusted earnings¹		0.52			0.52			0.38				0.48			0.36			1.41			1.08

Book value per share common		27.07			26.43			26.04				25.51			25.68			27.07			25.68
Tangible book value per share		17.61			17.19			16.71				16.12			16.20			17.61			16.20
Cash dividends declared		0.18			0.18			0.18				0.18			0.18			0.54			0.54


¹Non-GAAP measure - see "Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP.
²Calculated on a fully taxable equivalent basis using amortized cost.
³These ratios are stated on an annualized basis and are not necessarily indicative of future periods.
⁴The Company defines tangible assets as total assets less intangible assets, and tangible common equity as total shareholders' equity less intangible assets.
⁵Defined as noninterest expense less amortization of intangibles and gains, losses, and expenses on foreclosed properties divided by net operating revenue (net interest income on a fully taxable equivalent basis plus noninterest income excluding securities gains and losses).

CONSOLIDATED STATEMENTS OF INCOME						(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	Quarterly Trends														Nine months ended

(Amounts in thousands, except per share data)	3Q'25			2Q'25			1Q'25			4Q'24			3Q'24		3Q'25			3Q'24

Interest and dividends on securities:
Taxable	$	35,975		$	32,479		$	29,381		$	26,945		$	25,963	$	97,835		$	72,511
Nontaxable		44			33			34			34			34		111			101
Interest and fees on loans		161,913			157,075			150,640			151,999			150,980		469,628			445,367
Interest on interest-bearing deposits and other investments		4,780			3,760			4,200			6,952			7,138		12,740			21,650
Total Interest Income		202,712			193,347			184,255			185,930			184,115		580,314			539,629

Interest on deposits		43,133			40,633			43,626			47,394			51,963		127,392			150,816
Interest on time certificates		16,341			15,120			14,973			16,726			19,002		46,434			54,051
Interest on borrowed money		9,770			10,730			7,139			6,006			6,485		27,639			18,595
Total Interest Expense		69,244			66,483			65,738			70,126			77,450		201,465			223,462

Net Interest Income		133,468			126,864			118,517			115,804			106,665		378,849			316,167
Provision for credit losses		8,371			4,379			9,250			3,699			6,273		22,000			12,559
Net Interest Income After Provision for Credit Losses		125,097			122,485			109,267			112,105			100,392		356,849			303,608

Noninterest income:
Service charges on deposit accounts		6,194			5,540			5,180			5,138			5,412		16,914			15,714
Wealth management income		4,578			4,196			4,248			4,019			3,843		13,022			11,149
Interchange income		2,008			1,895			1,807			1,860			1,911		5,710			5,739
Mortgage banking fees		517			685			404			326			485		1,606			1,448
Insurance agency income		1,481			1,289			1,620			1,151			1,399		4,390			4,045
BOLI income		3,875			3,380			2,468			2,627			2,578		9,723			7,438
Other		6,006			7,497			6,257			10,335			7,864		19,760			20,455
		24,659			24,482			21,984			25,456			23,492		71,125			65,988
Securities (losses) gains, net		(841	)		39			196			(8,388	)		187		(606	)		372
Total Noninterest Income		23,818			24,521			22,180			17,068			23,679		70,519			66,360

Noninterest expense:
Salaries and wages		46,310			44,438			42,248			42,378			40,697		132,996			119,938
Employee benefits		7,387			8,106			8,861			6,548			6,955		24,354			21,705
Outsourced data processing costs		9,337			8,525			8,504			8,307			8,003		26,366			28,331
Occupancy		7,627			7,483			7,350			7,234			7,096		22,460			22,313
Furniture and equipment		2,233			2,125			2,128			2,004			2,060		6,486			6,027
Marketing		2,509			2,958			2,748			2,126			2,729		8,215			8,650
Legal and professional fees		1,674			2,071			2,740			2,807			2,708		6,485			6,841
FDIC assessments		2,414			2,108			2,194			2,274			1,882		6,716			6,171
Amortization of intangibles		6,005			5,131			5,309			5,587			6,002		16,445			18,297
Other real estate owned expense and net (gain) loss on sale		(346	)		8			241			84			491		(97	)		356
Provision for credit losses on unfunded commitments		150			150			150			250			250		450			751
Merger-related charges		10,808			2,422			1,051			—			—		14,281			—
Other		5,879			6,205			7,073			5,976			5,945		19,157			18,346
Total Noninterest Expense		101,987			91,730			90,597			85,575			84,818		284,314			257,726

Income Before Income Taxes		46,928			55,276			40,850			43,598			39,253		143,054			112,242
Provision for income taxes		10,461			12,589			9,386			9,513			8,602		32,436			25,341

Net Income	$	36,467		$	42,687		$	31,464		$	34,085		$	30,651	$	110,618		$	86,901

Share Data
Net income per share of common stock
Diluted	$	0.42		$	0.50		$	0.37		$	0.40		$	0.36	$	1.28		$	1.02
Basic		0.42			0.50			0.37			0.40			0.36		1.30			1.03
Cash dividends declared		0.18			0.18			0.18			0.18			0.18		0.54			0.54

Average common shares outstanding									��
Diluted		87,425			85,479			85,388			85,302			85,069		86,154			84,915
Basic		86,619			84,903			84,648			84,510			84,434		85,398			84,319

CONSOLIDATED BALANCE SHEETS							(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	September 30,			June 30,			March 31,			December 31,			September 30,
(Amounts in thousands)		2025			2025			2025			2024			2024

Assets
Cash and due from banks	$	173,954		$	181,565		$	191,467		$	171,615		$	182,743
Interest-bearing deposits with other banks		132,040			150,863			309,105			304,992			454,315
Total cash and cash equivalents		305,994			332,428			500,572			476,607			637,058

Time deposits with other banks		30,852			1,494			1,494			3,215			5,207

Debt Securities:
Securities available-for-sale (at fair value)		3,212,080			2,866,185			2,627,959			2,226,543			2,160,055
Securities held-to-maturity (at amortized cost)		598,604			613,312			624,650			635,186			646,050
Total debt securities		3,810,684			3,479,497			3,252,609			2,861,729			2,806,105

Loans held for sale		10,841			8,610			16,016			17,277			11,039

Loans		10,964,173			10,608,824			10,443,021			10,299,950			10,205,281
Less: Allowance for credit losses		(147,453	)		(142,184	)		(140,267	)		(138,055	)		(140,469	)
Loans, net of allowance for credit losses		10,816,720			10,466,640			10,302,754			10,161,895			10,064,812

Bank premises and equipment, net		115,392			107,256			108,478			107,555			108,776
Other real estate owned		5,085			5,335			7,176			6,421			6,421
Goodwill		754,645			732,417			732,417			732,417			732,417
Other intangible assets, net		76,291			61,328			66,372			71,723			77,431
Bank owned life insurance		323,214			312,860			311,453			308,995			306,379
Net deferred tax assets		74,683			87,328			93,595			102,989			94,820
Other assets		352,503			349,762			339,549			325,485			317,906
Total Assets	$	16,676,904		$	15,944,955		$	15,732,485		$	15,176,308		$	15,168,371

Liabilities
Deposits
Noninterest demand	$	3,611,920		$	3,376,941		$	3,492,491		$	3,352,372		$	3,443,455
Interest-bearing demand		2,753,463			2,518,857			2,734,260			2,667,843			2,487,448
Savings		615,566			557,472			534,991			519,977			524,474
Money market		4,396,458			4,111,789			4,154,682			4,086,362			4,034,371
Time deposits		1,712,912			1,932,539			1,658,372			1,615,873			1,753,837
Total Deposits		13,090,319			12,497,598			12,574,796			12,242,427			12,243,585

Securities sold under agreements to repurchase		236,247			186,090			201,128			232,071			210,176
Federal Home Loan Bank borrowings		690,000			715,000			465,000			245,000			245,000
Long-term debt, net		107,464			107,298			107,132			106,966			106,800
Other liabilities		174,742			167,404			154,689			166,601			168,960
Total Liabilities		14,298,772			13,673,390			13,502,745			12,993,065			12,974,521

Shareholders' Equity
Common stock		8,864			8,673			8,633			8,628			8,614
Additional paid in capital		1,891,111			1,832,158			1,828,234			1,824,935			1,821,050
Retained earnings		590,384			569,833			542,665			526,642			508,036
Less: Treasury stock		(20,804	)		(20,792	)		(19,072	)		(19,095	)		(18,680	)
		2,469,555			2,389,872			2,360,460			2,341,110			2,319,020
Accumulated other comprehensive loss, net		(91,423	)		(118,307	)		(130,720	)		(157,867	)		(125,170	)
Total Shareholders' Equity		2,378,132			2,271,565			2,229,740			2,183,243			2,193,850
Total Liabilities & Shareholders' Equity	$	16,676,904		$	15,944,955		$	15,732,485		$	15,176,308		$	15,168,371

Common shares outstanding		87,856			85,948			85,618			85,568			85,441

CONSOLIDATED QUARTERLY FINANCIAL DATA							(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES



(Amounts in thousands)	3Q'25			2Q'25			1Q'25			4Q'24			3Q'24

Credit Analysis
Net charge-offs	$	3,208		$	2,462		$	7,038		$	6,113		$	7,445
Net charge-offs to average loans		0.12	%		0.09	%		0.27	%		0.24	%		0.29	%

Allowance for credit losses	$	147,453		$	142,184		$	140,267		$	138,055		$	140,469

Non-acquired loans at end of period	$	8,415,612		$	8,071,619		$	7,752,532		$	7,452,175		$	7,178,186
Acquired loans at end of period		2,548,561			2,537,205			2,690,489			2,847,775			3,027,095
Total Loans	$	10,964,173		$	10,608,824		$	10,443,021		$	10,299,950		$	10,205,281

Total allowance for credit losses to total loans at end of period		1.34	%		1.34	%		1.34	%		1.34	%		1.38	%
Purchase discount on acquired loans at end of period		3.86			4.10			4.25			4.30			4.48

End of Period
Nonperforming loans	$	60,562		$	64,198		$	71,018		$	92,446		$	80,857
Other real estate owned		221			351			1,820			933			933
Properties previously used in bank operations included in other real estate owned		4,864			4,984			5,356			5,488			5,488
Total Nonperforming Assets	$	65,647		$	69,533		$	78,194		$	98,867		$	87,278

Nonperforming Loans to Loans at End of Period		0.55	%		0.61	%		0.68	%		0.90	%		0.79	%

Nonperforming Assets to Total Assets at End of Period		0.39			0.44			0.50			0.65			0.58

Loans	September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024

Construction and land development	$	616,475		$	603,079		$	618,493		$	648,053		$	595,753
Commercial real estate - owner occupied		1,898,704			1,778,930			1,713,579			1,686,629			1,676,814
Commercial real estate - non-owner occupied		3,766,541			3,624,528			3,513,400			3,503,808			3,573,076
Residential real estate		2,694,794			2,678,042			2,653,012			2,616,785			2,564,903
Commercial and financial		1,807,932			1,741,158			1,753,090			1,651,354			1,575,228
Consumer		179,727			183,087			191,447			193,321			219,507
Total Loans	$	10,964,173		$	10,608,824		$	10,443,021		$	10,299,950		$	10,205,281

AVERAGE BALANCES, INTEREST INCOME AND EXPENSES, YIELDS AND RATES ¹													(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES


	3Q'25							2Q'25							3Q'24
	Average					Yield/		Average					Yield/		Average					Yield/
(Amounts in thousands)	Balance			Interest		Rate		Balance			Interest		Rate		Balance			Interest		Rate

Assets
Earning assets:
Securities:
Taxable	$	3,644,261		$	35,975	3.92	%	$	3,364,825		$	32,479	3.87	%	$	2,756,502		$	25,963	3.75	%
Nontaxable		6,752			54	3.17			5,321			40	3.02			5,701			42	2.93
Total Securities		3,651,013			36,029	3.92			3,370,146			32,519	3.87			2,762,203			26,005	3.75

Federal funds sold		258,779			2,896	4.44			183,268			2,041	4.47			433,423			5,906	5.42
Interest-bearing deposits with other banks and other investments		166,683			1,884	4.48			137,726			1,720	5.01			102,700			1,232	4.77

Total Loans, net²		10,805,143			162,341	5.96			10,558,997			157,499	5.98			10,128,822			151,282	5.94

Total Earning Assets		14,881,618			203,150	5.42			14,250,137			193,779	5.45			13,427,148			184,425	5.46

Allowance for credit losses		(144,051	)						(141,442	)						(141,974	)
Cash and due from banks		166,884							152,562							167,103
Bank premises and equipment, net		114,719							108,206							109,699
Intangible assets		827,294							796,431							812,761
Bank owned life insurance		321,754							312,384							304,703
Other assets including deferred tax assets		317,799							322,916							317,406

Total Assets	$	16,486,017						$	15,801,194						$	14,996,846

Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing demand	$	2,671,750		$	10,623	1.58	%	$	2,622,944		$	10,249	1.57	%	$	2,489,674		$	12,905	2.06	%
Savings		617,479			1,111	0.71			545,718			881	0.65			546,473			601	0.44
Money market		4,362,662			31,393	2.85			4,122,147			29,505	2.87			3,942,357			38,457	3.88
Time deposits		1,826,068			16,341	3.55			1,700,128			15,120	3.57			1,716,720			19,002	4.40
Securities sold under agreements to repurchase		224,328			1,359	2.40			185,977			1,214	2.62			241,083			2,044	3.37
Federal Home Loan Bank borrowings		637,826			6,703	4.17			724,231			7,803	4.32			237,935			2,549	4.26
Long-term debt, net		107,372			1,714	6.33			107,208			1,712	6.41			106,706			1,892	7.05

Total Interest-Bearing Liabilities		10,447,485			69,244	2.63			10,008,353			66,484	2.66			9,280,948			77,450	3.32

Noninterest demand		3,541,749							3,401,138							3,393,110
Other liabilities		151,550							139,495							154,344
Total Liabilities		14,140,784							13,548,986							12,828,402

Shareholders' equity		2,345,233							2,252,208							2,168,444

Total Liabilities & Equity	$	16,486,017						$	15,801,194						$	14,996,846

Cost of deposits						1.81	%						1.80	%						2.34	%
Cost of funds³						1.96	%						1.99	%						2.43	%
Interest expense as a % of earning assets						1.85	%						1.87	%						2.29	%
Net interest income as a % of earning assets				$	133,906	3.57	%				$	127,295	3.58	%				$	106,975	3.17	%


¹On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost.
²Fees on loans have been included in interest on loans. Nonaccrual loans are included in loan balances.
³Total interest expense as a percentage of total interest-bearing liabilities and noninterest demand deposits.

AVERAGE BALANCES, INTEREST INCOME AND EXPENSES, YIELDS AND RATES ¹								(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	Nine Months Ended September 30, 2025								Nine Months Ended September 30, 2024
	Average					Yield/			Average					Yield/
(Amounts in thousands, except ratios)	Balance			Interest		Rate			Balance			Interest		Rate

Assets
Earning assets:
Securities:
Taxable	$	3,362,823		$	97,835	3.89	%		$	2,655,422		$	72,511	3.65	%
Nontaxable		5,841			136	3.11				5,677			123	2.89
Total Securities		3,368,664			97,971	3.89				2,661,099			72,634	3.65

Federal funds sold		235,825			7,882	4.47				438,089			17,929	5.47
Interest-bearing deposits with other banks and other investments		136,760			4,858	4.75				102,415			3,721	4.85

Total Loans, net²		10,584,090			470,812	5.95				10,056,466			446,108	5.93

Total Earning Assets		14,325,339			581,523	5.43				13,258,069			540,392	5.44

Allowance for credit losses		(141,285	)							(145,579	)
Cash and due from banks		159,428								167,424
Bank premises and equipment, net		110,548								110,929
Intangible assets		808,564								819,046
Bank owned life insurance		314,700								302,220
Other assets including deferred tax assets		320,985								330,898

Total Assets	$	15,898,279							$	14,843,007

Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing demand	$	2,666,794		$	31,941	1.60	%		$	2,626,026		$	43,117	2.19	%
Savings		564,624			2,690	0.64				586,285			1,701	0.39
Money market		4,212,205			92,760	2.94				3,673,493			105,998	3.85
Time deposits		1,725,364			46,434	3.60				1,646,285			54,051	4.39
Securities sold under agreements to repurchase		203,943			3,930	2.58				289,181			7,806	3.61
Federal Home Loan Bank borrowings		582,565			18,584	4.27				163,468			5,101	4.17
Long-term debt, net		107,207			5,126	6.39				106,538			5,688	7.13

Total Interest-Bearing Liabilities		10,062,702			201,465	2.68				9,091,276			223,462	3.28

Noninterest demand		3,413,252								3,468,790
Other liabilities		151,036								148,000
Total Liabilities		13,626,990								12,708,066

Shareholders' equity		2,271,289								2,134,941

Total Liabilities & Equity	$	15,898,279							$	14,843,007

Cost of deposits						1.85	%							2.28	%
Cost of funds³						2.00	%							2.38	%
Interest expense as a % of earning assets						1.88	%							2.25	%
Net interest income as a % of earning assets				$	380,058	3.55	%					$	316,930	3.19	%


¹On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost.
²Fees on loans have been included in interest on loans. Nonaccrual loans are included in loan balances.
³Total interest expense as a percentage of total interest-bearing liabilities and noninterest demand deposits.

CONSOLIDATED QUARTERLY FINANCIAL DATA					(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES


	September 30,		June 30,			March 31,		December 31,		September 30,
(Amounts in thousands)		2025		2025			2025		2024		2024

Customer Relationship Funding
Noninterest demand
Commercial	$	2,933,228	$	2,717,688		$	2,830,497	$	2,621,469	$	2,731,564
Retail		508,204		509,539			536,661		502,967		509,527
Public funds		96,396		81,448			64,184		177,742		139,072
Other		74,092		68,266			61,149		50,194		63,292
Total Noninterest Demand		3,611,920		3,376,941			3,492,491		3,352,372		3,443,455

Interest-bearing demand
Commercial		1,586,997		1,466,184			1,520,186		1,467,508		1,426,920
Retail		976,318		838,340			881,282		881,236		874,043
Brokered		—		—			—		49,287		—
Public funds		190,148		214,333			332,792		269,812		186,485
Total Interest-Bearing Demand		2,753,463		2,518,857			2,734,260		2,667,843		2,487,448

Total transaction accounts
Commercial		4,520,225		4,183,872			4,350,683		4,088,977		4,158,484
Retail		1,484,522		1,347,879			1,417,943		1,384,203		1,383,570
Brokered		—		—			—		49,287		—
Public funds		286,544		295,781			396,976		447,554		325,557
Other		74,092		68,266			61,149		50,194		63,292
Total Transaction Accounts		6,365,383		5,895,798			6,226,751		6,020,215		5,930,903

Savings
Commercial		43,102		45,531			42,879		40,303		44,151
Retail		572,464		511,941			492,112		479,674		480,323
Total Savings		615,566		557,472			534,991		519,977		524,474

Money market
Commercial		2,303,584		2,073,098			1,999,540		1,947,250		1,953,851
Retail		1,898,375		1,853,398			1,967,239		1,925,330		1,887,975
Public funds		194,499		185,293			187,903		213,782		192,545
Total Money Market		4,396,458		4,111,789			4,154,682		4,086,362		4,034,371

Brokered time certificates		189,561		515,303			262,461		244,351		256,536
Time deposits		1,523,351		1,417,236			1,395,911		1,371,522		1,497,301
		1,712,912		1,932,539			1,658,372		1,615,873		1,753,837
Total Deposits	$	13,090,319	$	12,497,598		$	12,574,796	$	12,242,427	$	12,243,585

Securities sold under agreements to repurchase	$	236,247	$	186,090		$	201,128	$	232,071	$	210,176

Total customer funding¹	$	13,137,005	$	12,168,385		$	12,513,463	$	12,180,860	$	12,197,225


¹Total deposits and securities sold under agreements to repurchase, excluding brokered deposits. Securities sold under agreements to repurchase consists of customer sweep accounts.

Explanation of Certain Unaudited Non-GAAP Financial Measures

This presentation contains financial information determined by methods other than Generally Accepted Accounting Principles (“GAAP”). Management uses these non-GAAP financial measures in its analysis of the Company’s performance and believes these presentations provide useful supplemental information, and a clearer understanding of the Company’s performance. The Company believes the non-GAAP measures enhance investors’ understanding of the Company’s business and performance and if not provided would be requested by the investor community. These measures are also useful in understanding performance trends and facilitate comparisons with the performance of other financial institutions. The limitations associated with operating measures are the risk that persons might disagree as to the appropriateness of items comprising these measures and that different companies might define or calculate these measures differently. The Company provides reconciliations between GAAP and these non-GAAP measures. These disclosures should not be considered an alternative to GAAP.

GAAP TO NON-GAAP RECONCILIATION							(Unaudited)
SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

	Quarterly Trends																Nine Months Ended

(Amounts in thousands, except per share data)	3Q'25			2Q'25				1Q'25			4Q'24			3Q'24			3Q'25			3Q'24

Net Income	$	36,467		$	42,687			$	31,464		$	34,085		$	30,651		$	110,618		$	86,901

Total noninterest income		23,818			24,521				22,180			17,068			23,679			70,519			66,360
Securities losses (gains), net		841			(39	)			(196	)		8,388			(187	)		606			(372	)
Total Adjustments to Noninterest Income		841			(39	)			(196	)		8,388			(187	)		606			(372	)
Total Adjusted Noninterest Income		24,659			24,482				21,984			25,456			23,492			71,125			65,988
Total noninterest expense		101,987			91,730				90,597			85,575			84,818			284,314			257,726
Merger-related charges		(10,808	)		(2,422	)			(1,051	)		—			—			(14,281	)		—
Business continuity expenses - hurricane events		—			—				—			(280	)		—			—			—
Branch reductions and other expense initiatives		—			—				—			—			—			—			(7,094	)
Total Adjustments to Noninterest Expense		(10,808	)		(2,422	)			(1,051	)		(280	)		—			(14,281	)		(7,094	)
Adjusted Noninterest Expense		91,179			89,308				89,546			85,295			84,818			270,033			250,632
Income Taxes		10,461			12,589				9,386			9,513			8,602			32,436			25,341
Tax effect of adjustments		2,952			604				217			2,197			(47	)		3,773			1,703
Adjusted Income Taxes		13,413			13,193				9,603			11,710			8,555			36,209			27,044
Adjusted Net Income	$	45,164		$	44,466			$	32,102		$	40,556		$	30,511		$	121,732		$	91,920

Earnings per diluted share, as reported		0.42			0.50				0.37			0.40			0.36			1.28			1.02
Adjusted Earnings per Diluted Share	$	0.52		$	0.52			$	0.38		$	0.48		$	0.36		$	1.41		$	1.08
Average diluted shares outstanding		87,425			85,479				85,388			85,302			85,069			86,154			84,915

Adjusted Noninterest Expense	$	91,179		$	89,308			$	89,546		$	85,295		$	84,818		$	270,033		$	250,632
Provision for credit losses on unfunded commitments		(150	)		(150	)			(150	)		(250	)		(250	)		(450	)		(751	)
Other real estate owned expense and net gain (loss) on sale		346			(8	)			(241	)		(84	)		(491	)		97			(356	)
Amortization of intangibles		(6,005	)		(5,131	)			(5,309	)		(5,587	)		(6,002	)		(16,445	)		(18,297	)
Net Adjusted Noninterest Expense		85,370			84,019				83,846			79,374			78,075			253,235			231,228
Average tangible assets	$	15,658,723		$	15,004,763			$	14,593,955		$	14,397,331		$	14,184,085		$	15,089,715		$	14,023,961
Net Adjusted Noninterest Expense to Average Tangible Assets		2.16	%		2.25	%			2.33	%		2.19	%		2.19	%		2.24	%		2.20	%

Net Revenue	$	157,286		$	151,385			$	140,697		$	132,872		$	130,344		$	449,368		$	382,527
Total Adjustments to Net Revenue		841			(39	)			(196	)		8,388			(187	)		606			(372	)
Impact of FTE adjustment		438			431				340			311			310			1,209			763
Adjusted Net Revenue on a fully taxable equivalent basis	$	158,565		$	151,777			$	140,841		$	141,571		$	130,467		$	451,183		$	382,918
Adjusted Efficiency Ratio		53.84	%		55.36	%			59.53	%		56.07	%		59.84	%		56.13	%		60.39	%

Net Interest Income	$	133,468		$	126,864			$	118,517		$	115,804		$	106,665		$	378,849		$	316,167
Impact of FTE adjustment		438			431				340			311			310			1,209			763
Net Interest Income including FTE adjustment		133,906			127,295				118,857			116,115			106,975			380,058			316,930
Total noninterest income		23,818			24,521				22,180			17,068			23,679			70,519			66,360
Total noninterest expense less provision for credit losses on unfunded commitments		101,837			91,580				90,447			85,325			84,568			283,864			256,975
Pre-Tax Pre-Provision Earnings		55,887			60,236				50,590			47,858			46,086			166,713			126,315
Total Adjustments to Noninterest Income		841			(39	)			(196	)		8,388			(187	)		606			(372	)
Total Adjustments to Noninterest Expense including other real estate owned expense and net loss on sale		10,462			2,430				1,292			364			491			14,184			7,450
Adjusted Pre-Tax Pre-Provision Earnings		67,190			62,627				51,686			56,610			46,390			181,503			133,393

Average Assets		16,486,017			15,801,194				15,395,642			15,204,041			14,996,846			15,898,279			14,843,007
Less average goodwill and intangible assets		(827,294	)		(796,431	)			(801,687	)		(806,710	)		(812,761	)		(808,564	)		(819,046	)
Average Tangible Assets	$	15,658,723		$	15,004,763			$	14,593,955		$	14,397,331		$	14,184,085		$	15,089,715		$	14,023,961

Return on Average Assets (ROA)		0.88	%		1.08	%			0.83	%		0.89	%		0.81	%		0.93	%		0.78	%
Impact of other adjustments for Adjusted Net Income		0.21			0.05				0.02			0.17			—			0.09			0.05
Adjusted ROA		1.09	%		1.13	%			0.85	%		1.06	%		0.81	%		1.02	%		0.83	%

ROA		0.88			1.08				0.83			0.89			0.81			0.93			0.78
Impact of removing average intangible assets and related amortization		0.16			0.16				0.15			0.17			0.18			0.16			0.18
Return on Average Tangible Assets (ROTA)		1.04			1.24				0.98			1.06			0.99			1.09			0.96
Impact of other adjustments for Adjusted Net Income		0.22			0.05				0.02			0.18			(0.01	)		0.10			0.05
Adjusted ROTA		1.26	%		1.29	%			1.00	%		1.24	%		0.98	%		1.19	%		1.01	%

Average Shareholders' Equity	$	2,345,233		$	2,252,208			$	2,214,995		$	2,203,052		$	2,168,444		$	2,271,289		$	2,134,941
Less average goodwill and intangible assets		(827,294	)		(796,431	)			(801,687	)		(806,710	)		(812,761	)		(808,564	)		(819,046	)
Average Tangible Equity	$	1,517,939		$	1,455,777			$	1,413,308		$	1,396,342		$	1,355,683		$	1,462,725		$	1,315,895

Return on Average Shareholders' Equity		6.17	%		7.60	%			5.76	%		6.16	%		5.62	%		6.51	%		5.44	%
Impact of removing average intangible assets and related amortization		4.53			5.22				4.41			4.74			4.69			4.72			4.77
Return on Average Tangible Common Equity (ROTCE)		10.70			12.82				10.17			10.90			10.31			11.23			10.21
Impact of other adjustments for Adjusted Net Income		2.28			0.49				0.18			1.84			(0.04	)		1.02			0.51
Adjusted ROTCE		12.98	%		13.31	%			10.35	%		12.74	%		10.27	%		12.25	%		10.72	%

Loan interest income¹	$	162,341		$	157,499			$	150,973		$	152,303		$	151,282		$	470,812		$	446,108
Accretion on acquired loans		(9,543	)		(10,583	)			(8,221	)		(11,717	)		(9,182	)		(28,347	)		(29,955	)
Loan interest income excluding accretion on acquired loans¹	$	152,798		$	146,916			$	142,752		$	140,586		$	142,100		$	442,465		$	416,153

Yield on loans¹		5.96	%		5.98	%			5.90	%		5.93	%		5.94	%		5.95	%		5.93	%
Impact of accretion on acquired loans		(0.35	)		(0.40	)			(0.32	)		(0.45	)		(0.36	)		(0.36	)		(0.40	)
Yield on loans excluding accretion on acquired loans¹		5.61	%		5.58	%			5.58	%		5.48	%		5.58	%		5.59	%		5.53	%

Net Interest Income¹	$	133,906		$	127,295			$	118,857		$	116,115		$	106,975		$	380,058		$	316,930
Accretion on acquired loans		(9,543	)		(10,583	)			(8,221	)		(11,717	)		(9,182	)		(28,347	)		(29,955	)
Net interest income excluding accretion on acquired loans¹	$	124,363		$	116,712			$	110,636		$	104,398		$	97,793		$	351,711		$	286,975

Net Interest Margin¹		3.57	%		3.58	%			3.48	%		3.39	%		3.17	%		3.55	%		3.19	%
Impact of accretion on acquired loans		(0.25	)		(0.29	)			(0.24	)		(0.34	)		(0.27	)		(0.27	)		(0.30	)
Net interest margin excluding accretion on acquired loans¹		3.32	%		3.29	%			3.24	%		3.05	%		2.90	%		3.28	%		2.89	%

Securities interest income¹	$	36,029		$	32,519			$	29,422		$	26,986		$	26,005		$	97,971		$	72,634
Tax equivalent adjustment on securities		(10	)		(7	)			(7	)		(7	)		(8	)		(25	)		(22	)
Securities interest income excluding tax equivalent adjustment¹		36,019			32,512				29,415			26,979			25,997			97,946			72,612

Loan interest income¹		162,341			157,499				150,973			152,303			151,282			470,812			446,108
Tax equivalent adjustment on loans		(428	)		(424	)			(333	)		(304	)		(302	)		(1,184	)		(741	)
Loan interest income excluding tax equivalent adjustment		161,913			157,075				150,640			151,999			150,980			469,628			445,367

Net Interest Income¹		133,906			127,295				118,857			116,115			106,975			380,058			316,930
Tax equivalent adjustment on securities		(10	)		(7	)			(7	)		(7	)		(8	)		(25	)		(22	)
Tax equivalent adjustment on loans		(428	)		(424	)			(333	)		(304	)		(302	)		(1,184	)		(741	)
Net interest income excluding tax equivalent adjustment	$	133,468		$	126,864			$	118,517		$	115,804		$	106,665		$	378,849		$	316,167

¹On a fully taxable equivalent basis. All yields and rates have been computed using amortized cost.

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