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Seacoast Banking: 4Q Earnings Snapshot

STUART, Fla. (AP) _ Seacoast Banking Corp. of Florida (SBCF) on Thursday reported fourth-quarter net income of $16 million.

The Stuart, Florida-based bank said it had earnings of 31 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, were 47 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.

The holding company for Seacoast National Bank posted revenue of $82.8 million in the period. Its revenue net of interest expense was $72.7 million, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $72.3 million.

For the year, the company reported profit of $67.3 million, or $1.38 per share. Revenue was reported as $261.5 million.

Seacoast Banking shares have risen 8 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $28.15, a rise of 7 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SBCF at https://www.zacks.com/ap/SBCF