SEACOAST BANKING CORP OF FLORIDA
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
SBCF$34.07-0.1%Stored close · as of Nov 10, 2026
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Consolidated statements of comprehensive income (loss) – months ended and
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited)
| (In thousands) | Three Months Ended September 30, | Nine Months Ended September 30, | ||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Net Income | $30,651 | $31,414 | $86,901 | $74,490 |
| Other comprehensive income (loss): | ||||
| Unrealized gains (losses) on available-for-sale securities, net of tax expense of $14.4 million and $10.6 million for the three and nine months ended September 30, 2024, respectively, and net of tax benefit of $8.1 million and $9.3 million for the three and nine months ended September 30, 2023, respectively | 44,972 | (26,065) | 33,477 | (29,764) |
| Amortization of unrealized losses on securities transferred to held-to-maturity, net of tax benefit of $3 thousand and $11 thousand for the three and nine months ended September 30, 2024, respectively, and net of tax benefit of $3 thousand and $10 thousand for the three and nine months ended September 30, 2023, respectively | (11) | (11) | (31) | (32) |
| Reclassification adjustment for losses (gains) included in net income, net of tax benefit of $68 thousand and $1.0 million for the three and nine months ended September 30, 2024, respectively, and net of tax expense of $1 thousand for the nine months ended September 30, 2023 | 201 | — | 3,006 | (4) |
| Unrealized (losses) gains on derivatives designated as fair value hedges, net of reclassifications to income, net of tax benefit of $0.8 million and $0.6 million for the three and nine months ended September 30, 2024, respectively, and net of tax expense of $0.2 million and $1.8 million for the three and nine months ended September 30, 2023, respectively | (2,322) | 504 | (1,744) | 5,236 |
| Unrealized gains on derivatives designated as cash flow hedges, net of reclassifications to income, net of tax expense of $43 thousand and $114 thousand for the three and nine months ended September 30, 2023, respectively | — | 125 | — | 326 |
| Total other comprehensive income (loss) | $42,840 | $(25,447) | $34,708 | $(24,238) |
| Comprehensive Income | $73,491 | $5,967 | $121,609 | $50,252 |
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