Seacoast Banking Q3 Earnings Top Estimates; Net Income Reaches $59.9 Million

Seacoast Banking Corp. of Florida (SBCF) reported third-quarter net income of $59.9 million on Tuesday, with adjusted earnings of 66 cents per share beating the 65-cent average estimate from four Zacks-surveyed analysts. The Stuart, Florida-based holding company for Seacoast National Bank posted revenue of $294.8 million for the period. Revenue net of interest expense came to $217.5 million, also surpassing the $215.6 million forecast. Net income translated to 55 cents per share. The results reflect earnings adjusted for non-recurring costs.