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AI brief of an SEC Form 8-K · Seacoast Banking Corporation of Florida (SBCF)

Seacoast Q3 net income $30.7 million, $0.36 per share, flat from second quarter

Mixed Impact 3 of 5 earnings Written later

Seacoast Banking reported third-quarter 2024 net income of $30.7 million, or $0.36 per diluted share, roughly flat from the prior quarter and down from $0.37 a year earlier. Net revenues rose 3% from the prior quarter but fell 5% from a year earlier. The company also disclosed an approximately $8.0 million pre-tax loss from an October securities sale and a possible fourth-quarter provision of $5 million to $10 million tied to Hurricane Milton, both of which could weigh on near-term earnings.

Key points

  • Net income $30.7 million, or $0.36 per diluted share, versus $30.2 million ($0.36) in Q2 2024 and $31.4 million ($0.37) in Q3 2023
  • Net revenues $130.3 million, up 3% from Q2 2024 and down 5% from Q3 2023
  • October sale of securities with a pre-tax loss of approximately $8.0 million, impacting fourth-quarter results; proceeds of approximately $113 million reinvested at a 5.4% average book yield
  • Additional fourth-quarter provision for credit losses for Hurricane Milton may be between approximately $5 million and $10 million

The filing

CompanySeacoast Banking Corporation of Florida (SBCF)
Form8-K, current report
Filed with the SECOct 24, 2024, 5:03 PM ET
Accession number0000730708-24-000209

Items reported: 2.02 Results of Operations7.01 Regulation FD Disclosure8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:39 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 24, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.