SBCFMEDIUM SIGNALOPPORTUNITY10-K

SBCF completed a substantial acquisition (VBI) that meaningfully expanded its asset base and geographic footprint beyond Florida into Georgia.

The VBI acquisition in October 2025 appears to be driving significant balance sheet growth, with the company expanding into new markets including its first Georgia location and enhanced presence in North Central Florida's The Villages community. The addition of new regulatory language around "de-banking" suggests management is monitoring potential policy headwinds that could affect customer relationships and compliance costs.

Comparing 2026-02-27 vs 2025-02-25View on EDGAR →
FINANCIAL ANALYSIS

SBCF's financial profile reflects substantial organic and acquisition-driven growth, with total assets expanding to $20.8 billion and deposits growing to $16.3 billion, likely driven primarily by the VBI acquisition. Net income grew nearly 20% to $144.9 million while net interest income increased 15.3% to $836.4 million, indicating solid operational performance alongside the balance sheet expansion. The modest decline in cash and equivalents to $388.5 million likely reflects deployment of capital for the acquisition and lending growth.

FINANCIAL STATEMENT CHANGES
Total Assets
Balance Sheet
+37.3%
$15.2B→$20.8B

Asset base grew 37.3% — expansion through organic growth, acquisitions, or capital deployment.

Total Liabilities
Balance Sheet
+36.9%
$13.0B→$17.8B

Liabilities grew 36.9% — significant increase in debt or obligations, assess impact on financial flexibility.

Total Deposits
Balance Sheet
+32.8%
$12.2B→$16.3B

Deposits grew 32.8% — expanding customer base or increased trust in the institution.

Stockholders Equity
Balance Sheet
+24.2%
$2.2B→$2.7B

Equity base grew 24.2% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Net Income
P&L
+19.7%
$121.0M→$144.9M

Net income grew 19.7% — bottom-line growth signals improving overall business health.

Cash & Equivalents
Balance Sheet
-18.5%
$476.6M→$388.5M

Cash decreased 18.5% — monitor burn rate and upcoming capital needs.

Net Interest Income
P&L
+15.3%
$725.6M→$836.4M

Net interest income grew 15.3% — benefiting from rate environment or loan book expansion.

LANGUAGE CHANGES
NEW — 2026-02-27
PRIOR — 2025-02-25
ADDED
financial system; Legislative, regulatory or supervisory actions related to so called de banking, including any new prohibitions, requirements or enforcement priorities that could affect customer relationships, compliance obligations, or operational practices; A deterioration of the credit rating for U.S.
Its principal subsidiary is Seacoast National Bank, a wholly-owned national banking association ( Seacoast Bank ) chartered in 1926.
As of December 31, 2025, Seacoast had total consolidated assets of $20.8 billion, total deposits of $16.3 billion, total consolidated liabilities, including deposits, of $17.8 billion, consolidated convertible preferred stock of $0.3 billion, and consolidated shareholders equity of $2.7 billion.
Nature Coast Insurance, Inc., a wholly-owned subsidiary of Seacoast, facilitates access for the Company to provide customers with a range of insurance products.
Market and Competition Seacoast has continued expanding the franchise and strengthening its competitive position throughout Florida and beyond with acquisitions and new market launches, including its first location outside Florida, in Woodstock, Georgia.
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REMOVED
FRB Federal Reserve Board ARM Adjustable-rate mortgage FTE Fully taxable equivalent ASC Accounting Standards Codification GAAP Accounting principles generally accepted in the United States of America ASU Accounting Standards Update GLBA Gramm-Leach-Bliley Act ATM Automated teller machine HELOC Home equity line of credit BBFC Business Bank of Florida Corp.
Dodd-Frank Act Dodd-Frank Wall Street Reform and Consumer Protection Act REIT Real estate investment trust DOJ Department of Justice ROA Return on assets Drummond Drummond Banking Company ROTA Return on tangible assets DTA Deferred tax asset ROTCE Return on tangible common equity ECOA Equal Credit Opportunity Act ROUA Right-of-use asset EPS Earnings per share RSA Restricted stock award ERM Enterprise Risk Management RSU Restricted stock unit ERMC Enterprise Risk Management Committee Sabal Palm Sabal Palm Bancorp, Inc.
Its principal subsidiary is Seacoast National Bank, a wholly-owned national banking association ( Seacoast Bank ), which commenced its operations in 1933.
As of December 31, 2024, Seacoast had total consolidated assets of $15.2 billion, total deposits of $12.2 billion, total consolidated liabilities, including deposits, of $13.0 billion and consolidated shareholders equity of $2.2 billion.
and Nature Coast Insurance, Inc., each a wholly-owned subsidiary of Seacoast, facilitate access for the Company to provide customers with a range of insurance products.
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