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Get filing alertsSeacoast reports Q2 net income up 87% to $59.5M, 16% annualized loan growth
Filed July 28, 2026 · Period ending July 28, 2026 · ~1 min read
Key Changes
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Q2 2026 net income of $59.5M ($0.55/share) rose 87% from prior quarter and 39% year-over-year; adjusted net income was $65.8M ($0.61/share), reflecting completion of merger integration costs.
Exhibit 99.1 view on EDGAR → -
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Delivered 16% annualized organic loan growth with loan pipeline expanding to $1.5B at quarter-end, up from $1.2B prior quarter and $920.9M a year ago.
Exhibit 99.1 view on EDGAR → -
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Core net interest margin (excluding accretion) expanded 8 basis points to 3.65%; cost of deposits declined 1 basis point to 1.53%.
Exhibit 99.2 view on EDGAR → -
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Completed Citizens First Bank systems conversion in early July, finalizing major acquisition integration; management highlighted smooth client experience and strategic value of Villages market.
Exhibit 99.1 view on EDGAR → -
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Repurchased 751,680 shares in Q2 and 1,072,443 shares year-to-date; Tier 1 capital ratio of 14.3% and tangible equity to tangible assets of 9.3%.
Exhibit 99.2 view on EDGAR →
Summary
Seacoast Banking delivered strong second-quarter results with net income of $59.5 million ($0.55 per share), up 87% sequentially and 39% year-over-year. The sharp sequential improvement reflects the completion of merger integration costs from the Citizens First Bank acquisition, which the company successfully converted to its platforms in early July. Adjusted net income was $65.8 million ($0.61 per share).
The bank expected to achieve 16% annualized organic loan growth, supported by a robust pipeline that expanded to $1.5 billion at quarter-end from $1.2 billion in the prior quarter. Core net interest margin (excluding purchase accounting accretion) expanded eight basis points to 3.65%, driven by higher securities and loan yields and a one-basis-point decline in deposit costs to 1.53%.
The loan-to-deposit ratio remained conservative at 78%. Management provided 2026 full-year guidance projecting adjusted EPS of $2.48–$2.52, revenue growth of 28–31%, and an adjusted efficiency ratio of 53–55%, assuming no rate cuts and a stable economic environment. The company repurchased over 750,000 shares in the quarter while maintaining a Tier 1 capital ratio of 14.3%, well above regulatory requirements.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
Seacoast announces investor conference call on July 29, 2026 at 10:00 a.m. ET to discuss financial results with presentation materials.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
On July 29, 2026, Seacoast will hold an investor conference call to discuss its financial results. The conference call begins at 10:00 a.m. Eastern Time.
The company is hosting an investor conference call on July 29, 2026 at 10:00 a.m. Eastern Time to discuss its financial results. A presentation containing information for the call is available on the company's website and presented as of June 30, 2026.
Event · Exhibit 99.1
Seacoast reports Q2 2026 net income of $59.5M ($0.55/share), 16% annualized organic loan growth, and completion of Citizens First Bank integration.
Added in current filing · view on EDGAR →
Repurchased 751,680 shares of common stock during the quarter, and 1,072,443 shares of common stock year to date.
The company repurchased over 750,000 shares in the second quarter and over 1 million shares year-to-date, leveraging its strong capital position. The Tier 1 capital ratio was 14.3% at June 30, 2026, well above regulatory requirements.
Event · Exhibit 99.2
Seacoast Banking reported Q2 2026 net income of $59.5M ($0.55/share), up 87% QoQ, with 16% annualized loan growth and stable 3.83% net interest margin.
Added in current filing · view on EDGAR →
16% annualized organic loan growth. ... Total deposits increased 4% on an annualized basis, including a 4% annualized increase in noninterest-bearing deposits.
The bank achieved 16% annualized organic loan growth during the quarter, supported by a strong commercial pipeline of $1.3 billion. Total deposits grew at a 4% annualized rate, with noninterest-bearing deposits also increasing 4% annualized. The loan-to-deposit ratio remained conservative at 78%, and the cost of deposits declined to 1.53%.
Added in current filing · view on EDGAR →
Net interest margin was stable at 3.83%, and excluding accretion on acquired loans, expanded eight basis points to 3.65%.
Net interest margin held steady at 3.83% in the second quarter. Excluding the effect of accretion on acquired loans, the core net interest margin expanded eight basis points to 3.65%. Securities yields increased 10 basis points to 4.47%, benefiting from the full quarter impact of the securities repositioning executed in the first quarter of 2026, while the cost of deposits declined one basis point to 1.53%.
Added in current filing · view on EDGAR →
Adjusted Revenue (fully taxable equivalent basis) $ 656 28% - 31% Growth Adjusted Efficiency Ratio 58 % 53% - 55% Adjusted Earnings Per Share-Diluted $ 1.84 $2.48 - $2.52 Organic Loan Growth 9.4 % High Single Digit Growth Organic Deposit Growth 1.2 % Low to Mid Single Digit Growth
Management provided 2026 full-year guidance projecting adjusted revenue growth of 28-31%, adjusted earnings per share of $2.48-$2.52, and an adjusted efficiency ratio of 53-55%. The outlook assumes no rate cuts in 2026, the current forward curve, and a stable economic environment. For the fourth quarter of 2026, the company targets adjusted ROA of 1.30% and adjusted ROTE of 16.0%.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 29, 2026 · How we verify