SBCF · Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida is engaging investors through one-on-one meetings, furnishing an investor presentation that highlights its strategic priorities and a major acquisition. The transformative purchase of Villages Bancorporation, Inc. (VBI) significantly expands Seacoast's footprint in central Florida's affluent 55+ community, The Villages, where Citizens First Bank holds a dominant 51% deposit market share. This deal adds $4.4 billion in assets, $1.2 billion in loans, and $3.5 billion in low-cost deposits, creating a ~$21 billion asset franchise positioning Seacoast as the second largest publicly-traded bank in Florida by deposit market share and the largest pure play Florida public bank. The acquisition leverages VBI's conservative profile—featuring a 38% loan-to-deposit ratio, 1.40% cost of deposits, consistent ROA over 1.00% for the past five years, and zero net charge-offs as of March 31, 2026—to deliver ~24% earnings accretion with low execution risk. Strategic benefits include revenue synergies from cross-selling Seacoast products, a strong mortgage platform, and protections like right of first refusal for future growth alongside the community's expansion. This move enhances scale, profitability versus peers, liquidity from predictable retiree deposits, and long-term franchise value in one of Florida's untapped high-growth markets, aligning with Seacoast's balanced growth strategy emphasizing opportunistic acquisitions and a fortress balance sheet.