Seacoast Banking reported second-quarter revenue of $210 million, a 38.4% year-on-year increase that met analyst expectations, though the quarter was marked by a significant miss on tangible book value per share estimates. Chairman and CEO Charles M. Shaffer highlighted the successful completion of the Citizens First Bank conversion, calling it one of the most significant integrations in the company's history. The stock has risen 3.2% since the report and trades at $34.74. Among the 93 regional banks tracked, overall revenues were in line with consensus, with OFG Bancorp outperforming and Banc of California falling short.
Seacoast Banking Corporation of FloridaQ2 revenue rose 38.4% in line with estimates, though tangible book value per share missed estimates.
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