June 16, 2024
Seacoast Banking Company of Florida (NASDAQ:SBCF) This autumn 2023 Earnings Convention Name January 26, 2024 10:00 AM ET

Firm Contributors

Chuck Shaffer – Chairman and Chief Government Officer

Tracey Dexter – Chief Monetary Officer

Michael Younger – Treasurer and Director of Investor Relations

James Stallings – Chief Credit score Officer

Convention Name Contributors

Brady Gailey – KBW

Stephen Scouten – Piper Sandler

Brandon King – Truist Securities

David Bishop – Hovde Group


Welcome to the Seacoast Banking Company’s Fourth Quarter and Full Yr 2023 Earnings Convention Name. My title is Audra, and I might be your operator. [Operator Instructions] After the speaker’s remarks, there might be a question-and-answer session. [Operator Instructions]

Earlier than we start, I’ve been requested to direct your consideration to the assertion on the finish of the corporate’s press launch relating to forward-looking statements. Seacoast might be discussing points that represent forward-looking statements throughout the that means of the Securities and Alternate Act and its feedback as we speak are meant to be coated throughout the that means of that act. Please observe that this convention is being recorded.

I’ll now flip the decision over to Chuck Shaffer, Chairman and CEO of Seacoast Financial institution. Mr. Shaffer, you might start.

Chuck Shaffer

Thanks, Audra, and thanks all for becoming a member of us this morning. As we offer our feedback, we’ll reference to the fourth quarter and full 12 months 2023 earnings slide deck, which you will discover at seacoastbanking.com.

I’m joined as we speak by Tracey Dexter, Chief Monetary Officer; Michael Younger, Treasurer and Director of Investor Relations; and James Stallings, Chief Credit score Officer.

Seacoast delivered one other stable quarter of monetary efficiency typically consistent with final quarter’s steering. The decline in web curiosity revenue was offset by expense reductions, leading to a pretax pre-provision return on tangible belongings of 1.48% and an adjustable return on tangible widespread fairness