Seacoast Banking Corp. Files 8-K

Ticker: SBCF · Form: 8-K · Filed: Oct 24, 2024 · CIK: 730708

Seacoast Banking Corp Of Florida 8-K Filing Summary
FieldDetail
CompanySeacoast Banking Corp Of Florida (SBCF)
Form Type8-K
Filed DateOct 24, 2024
Risk Levellow
Pages3
Reading Time4 min
Key Dollar Amounts$0.10, $8.0 million, $113 m
Sentimentneutral

Sentiment: neutral

Topics: 8-K, financial-condition, regulation-fd

TL;DR

Seacoast Banking Corp. filed an 8-K on Oct 24, 2024, for financial updates.

AI Summary

Seacoast Banking Corporation of Florida filed an 8-K on October 24, 2024, to report on its results of operations and financial condition, as well as other events and Regulation FD disclosures. The filing does not contain specific financial figures or details of the events reported.

Why It Matters

This filing indicates that Seacoast Banking Corporation of Florida is providing updates on its financial performance and other material events to the public, which is important for investors to monitor.

Risk Assessment

Risk Level: low — This is a routine filing for an 8-K, providing general updates without immediate, specific financial impacts or significant corporate actions detailed within the provided text.

Key Players & Entities

  • SEACOAST BANKING CORP OF FLORIDA (company) — Filer
  • October 24, 2024 (date) — Date of report

FAQ

What is the primary purpose of this 8-K filing by Seacoast Banking Corporation of Florida?

The primary purpose of this 8-K filing is to report on the Registrant's Results of Operations and Financial Condition, Regulation FD Disclosure, and Other Events.

On what date was this 8-K report filed?

This 8-K report was filed on October 24, 2024.

What is the exact name of the company filing this report?

The exact name of the company filing this report is SEACOAST BANKING CORPORATION OF FLORIDA.

What is the principal executive office address for Seacoast Banking Corporation of Florida?

The principal executive office address is 815 COLORADO AVENUE, STUART FL 34994.

Under which sections of the Securities Exchange Act of 1934 is this Form 8-K filed?

This Form 8-K is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Filing Stats: 877 words · 4 min read · ~3 pages · Grade level 12.8 · Accepted 2024-10-24 17:03:18

Key Financial Figures

  • $0.10 — ange on which registered Common Stock, $0.10 par value SBCF Nasdaq Global Select Mar
  • $8.0 million — ting in a pre-tax loss of approximately $8.0 million. The proceeds, approximately $113 milli
  • $113 m — .0 million. The proceeds, approximately $113 million, were reinvested in agency mortga

Filing Documents

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition On October 24, 2024 , Seacoast Banking Corporation of Florida ("Seacoast or the "Company") announced its financial results for the quarter ended September 30, 2024. A copy of the press release announcing Seacoast's results for the quarter ended September 30, 2024, is attached hereto as Exhibit 99.1 and incorporated herein by reference.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure On October 25, 2024, Seacoast will hold an investor conference call to discuss its financial results for the quarter ended September 30, 2024. Attached as Exhibit 99.2 are charts (available on the Company's website at www.seacoastbanking.com) containing information used in the conference call and incorporated herein by reference. All information included in the charts is presented as of September 30, 2024, and the Company does not assume any obligation to correct or update said information in the future. The information in Items 2.02 and 7.01, as well as Exhibits 99.1 and 99.2 is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.

01 Other Events

Item 8.01 Other Events In October 2024, Seacoast repositioned a portion of its available for sale ("AFS") securities portfolio. The company sold securities with an average book yield of 2.8%, resulting in a pre-tax loss of approximately $8.0 million. The proceeds, approximately $113 million, were reinvested in agency mortgage-backed securities with an average book yield of 5.4%, for an estimated earnback of less than 3 years.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 99.1 Press Release dated October 24, 2024, with respect to Seacoast's financial results for the quarter ended September 30, 2024 99.2 Data on website containing information used in the conference call to be held on October 25, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) Exhibits 99.1 and 99.2 referenced herein, contain "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 or its wholly-owned banking subsidiary, Seacoast National Bank, to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. You should not expect the Company to update any forward-looking statements. SIGNATURE Pursuant to the requir

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