SBCF completes $5.3B acquisitions, expands NIM 35bp, takes $39.5M securities loss

Filed May 6, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 7, 2025 · ~2 min read

Key Changes

• high

  Completed Heartland and VBI acquisitions in 2H 2025, adding $5.3B in assets, $4.2B in deposits, and 23 branches across Florida and Georgia. Issued $343.1M in convertible preferred stock as part of VBI deal.

  MD&A: Acquisitions verify on EDGAR →
• high

  Executed strategic securities repositioning in January 2026, selling $277M in low-yielding securities and recognizing a $39.5M loss. Action improved securities yield by 24 basis points and is expected to enhance future net interest income.

  MD&A: Securities Repositioning verify on EDGAR →
• high

  Net interest margin expanded 35 basis points year-over-year to 3.83%, driven by higher securities yields and deposit costs falling 39bp to 1.54%. Excluding acquisition accretion, core NIM improved 33bp to 3.57%.

  MD&A: Net Interest Margin verify on EDGAR →