STUART, Fla. (AP) _ Seacoast Banking Corp. of Florida (SBCF) on Thursday reported second-quarter net income of $23.3 million.
The bank, based in Stuart, Florida, said it had earnings of 45 cents per share. Earnings, adjusted for non-recurring costs, were 50 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The holding company for Seacoast National Bank posted revenue of $85.8 million in the period. Its revenue net of interest expense was $73.7 million, falling short of Street forecasts. Four analysts surveyed by Zacks expected $75.6 million.
Seacoast Banking shares have climbed roughly 1% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $26.26, a drop of 20% in the last 12 months.