STUART, Fla. (AP) _ Seacoast Banking Corp. of Florida (SBCF) on Thursday reported third-quarter profit of $25.6 million.
The bank, based in Stuart, Florida, said it had earnings of 49 cents per share. Earnings, adjusted for non-recurring costs, were 53 cents per share.
The results surpassed 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 $86.8 million in the period. Its revenue net of interest expense was $74.9 million, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $74.7 million.
Seacoast Banking shares have risen 2% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $26.60, an increase of 11% in the last 12 months.