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Item 1. Financial Statements

2026-08-04 compared with 2026-05-06 · 247 added, 146 removed, 950 unchanged (29% of the section changed)

2 unchanged sentences

CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

Three Months Ended March 31,

Three Months Ended June 30, Six Months Ended June 30,

(In thousands, except per share data) 2026 2025 2026 2025

10 unchanged sentences

Net Interest Income after Provision for Credit Losses 171,398 122,485 347,107 231,752

Noninterest income (loss):

Noninterest income:

Service charges on deposit accounts 7,045 5,540 13,957 10,720

7 unchanged sentences

Securities (losses) gains, net ( 59 ) 39 ( 39,587 ) 235

Total Noninterest (Loss) Income ( 12,614 ) 22,180

Total Noninterest Income 27,778 24,521 15,164 46,701

Noninterest expense:

25 unchanged sentences

SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)

Three Months Ended March 31,

(In thousands) 2026 2025

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited)

(In thousands) Three Months Ended June 30, Six Months Ended June 30,

2026 2025 2026 2025

Net Income $ 59,535 $ 42,687 $ 91,430 $ 74,151

Other comprehensive (loss) income:

Unrealized (losses) gains on AFS securities, net of tax benefit of $ 10.1 million for the three months ended March 31, 2026, and net of tax expense of $ 8.6 million for the three months ended March 31, 2025

Unrealized (losses) gains on AFS securities, net of tax benefit of $ 2.0 million and $ 12.1 million for the three and six months ended June 30, 2026 and net of tax expense of $ 3.9 million and $ 12.5 million for the three and six months ended June 30, 2025

( 5,556 ) 12,127 ( 37,371 ) 39,554

Amortization of unrealized gains on securities transferred to HTM, net of tax benefit of $ 3 thousand for each of the three months ended March 31, 2026 and 2025

Amortization of unrealized gains on securities transferred to HTM, net of tax benefit of $ 3 thousand for each of the three months ended June 30, 2026 and 2025, and $ 7 thousand for each of the six months ended June 30, 2026 and 2025

( 11 ) ( 11 ) ( 21 ) ( 21 )

Reclassification adjustment for losses included in net income, net of tax benefit of $ 10.0 million for the three months ended March 31, 2026

Unrealized losses on derivatives designated as fair value hedges, net of reclassifications to income, net of tax benefit of $ 0.1 million for the three months ended March 31, 2025

Unrealized gains on derivatives designated as cash flow hedges, net of reclassifications to income, net of tax expense of $ 0.3 million for the three months ended March 31, 2026

Reclassification adjustment for losses included in net income, net of tax benefit of $ 10.0 million for the six months ended June 30, 2026

Unrealized gains on derivatives designated as fair value hedges, net of reclassifications to income, net of tax expense of $ 0.1 million and $ 9 thousand for the three and six months ended June 30, 2025

Unrealized gains on derivatives designated as cash flow hedges, net of reclassifications to income, net of tax expense of $ 28 thousand and $ 0.4 million for the three and six months ended June 30, 2026

Total other comprehensive (loss) income $ ( 5,483 ) $ 12,413 $ ( 6,875 ) $ 39,560

3 unchanged sentences

CONSOLIDATED BALANCE SHEETS (Unaudited)

March 31, December 31,

June 30, 2026 December 31, 2025

(In thousands, except share data)

5 unchanged sentences

Securities AFS (at fair value) 5,174,602 5,164,567

Securities HTM (fair value $ 477.7 million at March 31, 2026 and $ 489.6 million at December 31, 2025)

Securities HTM (fair value $ 465.7 million at June 30, 2026 and $ 489.6 million at December 31, 2025)

564,067 586,178

18 unchanged sentences

Total Liabilities 18,286,142 17,786,544

Convertible preferred stock, par value $ 0.10 per share authorized 4,000,000 shares, issued 11,250 and outstanding 11,250 shares at March 31, 2026 and December 31, 2025

Convertible preferred stock, par value $ 0.10 per share authorized 4,000,000 shares, issued 11,250 and outstanding 11,250 shares at June 30, 2026 and December 31, 2025

343,125 343,125

Shareholders’ Equity

Common stock, par value $ 0.10 per share, authorized 120,000,000 shares, issued 98,783,977 and outstanding 97,664,704 at March 31, 2026, and authorized 120,000,000 , issued 98,728,878 and outstanding 97,927,843 shares at December 31, 2025

Common stock, par value $ 0.10 per share, authorized 120,000,000 shares, issued 98,778,599 and outstanding 96,822,799 at June 30, 2026, and authorized 120,000,000 , issued 98,728,878 and outstanding 97,927,843 shares at December 31, 2025

Additional paid-in capital 2,208,511 2,197,549

10 unchanged sentences

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

Three Months Ended March 31,

Six Months Ended June 30,

(In thousands) 2026 2025

13 unchanged sentences

Gains on sale of loans ( 4,119 ) ( 3,025 )

Losses on sale and write-downs of OREO — 134

Losses on disposition of fixed assets and write-downs upon transfer of bank premises to OREO 176 86

Losses (gains) on sale and write-downs of bank premises, equipment and OREO 212 ( 15 )

Changes in operating assets and liabilities:

Net decrease (increase) in other assets 815 ( 8,048 )

Net decrease in other liabilities ( 12,310 ) ( 12,016 )

Net increase in other assets ( 9,546 ) ( 11,699 )

Net (decrease) increase in other liabilities ( 20,654 ) 809

Net cash provided by operating activities $ 133,518 $ 103,333

10 unchanged sentences

Purchase of FHLB and Federal Reserve Bank stock ( 37,918 ) ( 45,762 )

Proceeds from BOLI death benefit — 1,962

Additions to bank premises and equipment ( 6,766 ) ( 4,637 )

Net cash provided by (used in) investing activities $ 67,981 $ ( 513,315 )

Net cash used in investing activities $ ( 535,588 ) $ ( 894,317 )

See notes to unaudited consolidated financial statements.

SEACOAST BANKING CORPORATION OF FLORIDA AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

Three Months Ended March 31,

Six Months Ended June 30,

(In thousands) 2026 2025

2 unchanged sentences

Net decrease in repurchase agreements ( 15,908 ) ( 45,981 )

Net decrease in FHLB borrowings with original maturities of three months or less ( 90,000 ) —

Net increase of FHLB borrowings with original maturities of three months or less 150,000 100,000

Repayments of FHLB borrowings with original maturities of more than three months ( 560,000 ) ( 30,000 )

4 unchanged sentences

Net cash provided by financing activities $ 443,469 $ 646,805

Net increase in cash and cash equivalents 419,834 23,965

Net increase (decrease) in cash and cash equivalents 41,399 ( 144,179 )

Cash and cash equivalents at beginning of period 388,545 476,607

7 unchanged sentences

Transfers from loans to OREO — 1,116

1 See "Note 11 – Business Combinations" for non-cash transactions related to business combinations.

See notes to unaudited consolidated financial statements.

8 unchanged sentences

(In thousands) Shares Amount Shares Amount Total

Balance at March 31, 2026

11 $ 343,125 97,665 $ 9,878 $ 2,202,879 $ 614,853 $ ( 31,373 ) $ ( 78,587 ) $ 2,717,650

Comprehensive income (loss) — — — — — 59,535 — ( 5,483 ) 54,052

Stock-based compensation expense — — — — 5,520 — — — 5,520

Common stock transactions related to stock-based employee benefit plans — — ( 90 ) — 112 — ( 2,600 ) — ( 2,488 )

Repurchase of common stock — — ( 752 ) — — — ( 23,164 ) — ( 23,164 )

Dividends on common stock ($ 0.19 per share)

— — — — — ( 18,628 ) — — ( 18,628 )

Dividends on preferred stock ($ 0.19 per 1,000 th share)

— — — — — ( 2,137 ) — — ( 2,137 )

Three months ended June 30, 2026 — — ( 842 ) — 5,632 38,770 ( 25,764 ) ( 5,483 ) 13,155

Balance at June 30, 2026

11 $ 343,125 96,823 $ 9,878 $ 2,208,511 $ 653,623 $ ( 57,137 ) $ ( 84,070 ) $ 2,730,805

Shareholders' Equity

Preferred Stock Common Stock Paid-in

Capital Retained

Earnings Treasury

Stock Accumulated

Comprehensive

(In thousands) Shares Amount Shares Amount Total

Balance at December 31, 2025

2 unchanged sentences

Stock-based compensation expense — — — — 10,000 — — — 10,000

Common stock issued for stock-based employee benefit plans — — 55 5 850 — ( 15 ) — 840

Common stock transactions related to stock-based employee benefit plans — — ( 35 ) 5 962 — ( 2,615 ) — ( 1,648 )

Repurchase of common stock — — ( 1,070 ) — — — ( 33,164 ) — ( 33,164 )

3 unchanged sentences

— — — — — ( 4,275 ) — — ( 4,275 )

Three months ended March 31, 2026 — — ( 263 ) 5 5,330 11,060 ( 10,015 ) ( 1,392 ) 4,988

Balance at March 31, 2026

Six months ended June 30, 2026 — — ( 1,105 ) 5 10,962 49,830 ( 35,779 ) ( 6,875 ) 18,143

Balance at June 30, 2026

11 $ 343,125 96,823 $ 9,878 $ 2,208,511 $ 653,623 $ ( 57,137 ) $ ( 84,070 ) $ 2,730,805

7 unchanged sentences

(In thousands) Shares Amount Shares Amount Total

Balance at March 31, 2025

— $ — 85,618 $ 8,633 $ 1,828,234 $ 542,665 $ ( 19,072 ) $ ( 130,720 ) $ 2,229,740

Comprehensive income — — — — — 42,687 — 12,413 55,100

Stock-based compensation expense — — — — 3,958 — — — 3,958

Common stock transactions related to stock-based employee benefit plans — — 330 40 ( 34 ) — ( 1,720 ) — ( 1,714 )

Dividends on common stock ($ 0.18 per share)

— — — — — ( 15,519 ) — — ( 15,519 )

Three months ended June 30, 2025 — — 330 40 3,924 27,168 ( 1,720 ) 12,413 41,825

Balance at June 30, 2025

— $ — 85,948 $ 8,673 $ 1,832,158 $ 569,833 $ ( 20,792 ) $ ( 118,307 ) $ 2,271,565

Shareholders' Equity

Preferred Stock Common Stock Paid-in

Capital Retained

Earnings Treasury

Stock Accumulated

Comprehensive Income (Loss)

(In thousands) Shares Amount Shares Amount Total

Balance at December 31, 2024

— $ — 85,568 $ 8,628 $ 1,824,935 $ 526,642 $ ( 19,095 ) $ ( 157,867 ) $ 2,183,243

Comprehensive income — — — — — 74,151 — 39,560 113,711

Stock-based compensation expense — — — — 6,996 — — — 6,996

Common stock issued for stock-based employee benefit plans — — 50 5 261 — 23 — 289

Common stock transactions related to stock-based employee benefit plans — — 380 45 227 — ( 1,697 ) — ( 1,425 )

Dividends on common stock ($ 0.36 per share)

— — — — — ( 30,960 ) — — ( 30,960 )

Three months ended March 31, 2025 — — 50 5 3,299 16,023 23 27,147 46,497

Balance at March 31, 2025 — $ — 85,618 $ 8,633 $ 1,828,234 $ 542,665 $ ( 19,072 ) $ ( 130,720 ) $ 2,229,740

Six months ended June 30, 2025 — — 380 45 7,223 43,191 ( 1,697 ) 39,560 88,322

Balance at June 30, 2025

— $ — 85,948 $ 8,673 $ 1,832,158 $ 569,833 $ ( 20,792 ) $ ( 118,307 ) $ 2,271,565

See notes to unaudited consolidated financial statements.

9 unchanged sentences

Certain prior period amounts have been reclassified to conform to the current period presentation.

Operating results for the three months ended March 31, 2026, are not necessarily indicative of the results that may be expected for the year ending December 31, 2026, or any other period.

Operating results for the three and six months ended June 30, 2026, are not necessarily indicative of the results that may be expected for the year ending December 31, 2026, or any other period.

For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

17 unchanged sentences

Early adoption is permitted.

The Company is evaluating the impact of the changes to its consolidated financial statements and existing disclosures.

The Company is evaluating the date of adoption and the impact of the changes to its consolidated financial statements and existing disclosures.

In November 2025, the FASB issued ASU 2025-09, Derivatives and Hedging (Topic 815):

17 unchanged sentences

Diluted EPS are based on the weighted-average number of common shares outstanding during each period, plus common share equivalents, calculated for share-based awards outstanding using the treasury stock method and preferred shares using the more dilutive of either the two-class or if-converted method.

Options to purchase shares of the Company's common stock totaling 1,505 for the three months ended March 31, 2026, and 327,620 for the three months ended March 31, 2025, were anti-dilutive.

Three Months Ended March 31,

For each of the three and six month periods ended June 30, 2026, options to purchase 1,505 shares of the Company's common stock were anti-dilutive.

Options to purchase shares of the Company’s common stock totaling 328,775 and 327,799 , respectively, for the three and six months ended June 30, 2025, were anti-dilutive.

Three Months Ended June 30, Six Months Ended June 30,

(In thousands, except per share data) 2026 2025 2026 2025

14 unchanged sentences

Note 3 – Securities

The amortized cost, gross unrealized gains and losses and fair value of debt securities AFS and HTM at March 31, 2026 and December 31, 2025 are summarized as follows:

March 31, 2026

The amortized cost, gross unrealized gains and losses and fair value of debt securities AFS and HTM at June 30, 2026 and December 31, 2025 are summarized as follows:

June 30, 2026

(In thousands) Amortized

Cost Gross Unrealized

Gains Gross Unrealized

39 unchanged sentences

Totals $ 586,178 $ — $ ( 96,618 ) $ 489,560

During the three months ended March 31, 2026, debt securities with a fair value of $ 277.2 million were sold, with gross losses of $ 39.5 million.

During the three months ended March 31, 2025, there were no sales of securities.

Included in “Securities (losses) gains, net” on the Consolidated Statements of Income are decreases of $ 0.1 million for the three months ended March 31, 2026, and increases of $ 0.2 million for the three months ended March 31, 2025, in the value of investments in mutual funds that invest in CRA-qualified debt securities.

At March 31, 2026, debt securities with a fair value of $ 1.9 billion were pledged primarily as collateral for public deposits and secured borrowings.

The amortized cost and fair value of securities HTM and AFS as of March 31, 2026, by contractual maturity, are shown below.

During the three months ended June 30, 2026 and June 30, 2025, there were no sales of securities.

During the six months ended June 30, 2026, debt securities with a fair value of $ 277.2 million, were sold with gross losses of $ 39.5 million.

During the six months ended June 30, 2025, there were no sales of securities.

Included in “Securities (losses) gains, net” on the Consolidated Statements of Income are decreases of $ 0.1 million and $ 0.1 million, respectively, for the three and six months ended June 30, 2026, and increases of $ 39.2 thousand and $ 0.2 million, respectively, for the three and six months ended June 30, 2025 in the value of investments in mutual funds that invest in CRA-qualified debt securities.

At June 30, 2026, debt securities with a fair value of $ 1.8 billion were pledged primarily as collateral for public deposits and secured borrowings.

The amortized cost and fair value of securities HTM and AFS as of June 30, 2026, by contractual maturity, are shown below.

Expected maturities will differ from contractual maturities because prepayments of the underlying collateral for these securities may occur, due to the right to call or repay obligations with or without call or prepayment penalties.

18 unchanged sentences

The tables below indicate the fair value of AFS debt securities with unrealized losses for which no allowance for credit losses has been recorded.

March 31, 2026

Information pertaining to our securities with gross unrealized losses at June 30, 2026 and December 31, 2025, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss positions is as follows:

June 30, 2026

Less Than 12 Months 12 Months or Longer Total 1

33 unchanged sentences

1 Comprised of 383 individual securities.

At March 31, 2026, the Company had unrealized losses of $ 0.8 million on U.S.

At June 30, 2026, the Company had unrealized losses of $ 0.9 million on U.S.

Treasury securities and obligations of U.S.

5 unchanged sentences

agency to incur future losses of principal.

Based on the assessment of all relevant factors, the Company believes that the unrealized loss positions on these debt securities are a function of changes in investment spreads and interest rate movements and not changes in credit quality, and expects to recover the entire amortized cost basis of these securities.

Therefore, at March 31, 2026, no allowance has been recorded.

At March 31, 2026, the Company had unrealized losses of $ 115.1 million on commercial and residential mortgage-backed securities and collateralized mortgage obligations issued by government-sponsored entities having a fair value of $ 2.2 billion.

Based on the assessment of all relevant factors, the Company believes that the unrealized loss positions on these debt securities are a function of changes in investment spreads and

interest rate movements and not changes in credit quality and expects to recover the entire amortized cost basis of these securities.

Therefore, at June 30, 2026, no allowance has been recorded.

At June 30, 2026, the Company had unrealized losses of $ 126.2 million on commercial and residential mortgage-backed securities and collateralized mortgage obligations issued by government-sponsored entities having a fair value of $ 2.4 billion.

These securities are either explicitly or implicitly guaranteed by the U.S.

2 unchanged sentences

Based on the assessment of all relevant factors, the Company believes that the unrealized loss positions on these debt securities are a function of changes in investment spreads and interest rate movements and not changes in credit quality and expects to recover the entire amortized cost basis of these securities.

Therefore, at March 31, 2026, no allowance has been recorded.

At March 31, 2026, the Company had $ 5.0 million of unrealized losses on private label residential mortgage-backed securities and collateralized mortgage obligations having a fair value of $ 73.2 million.

Therefore, at June 30, 2026, no allowance has been recorded.

At June 30, 2026, the Company had $ 5.1 million of unrealized losses on private label residential mortgage-backed securities and collateralized mortgage obligations having a fair value of $ 69.5 million.

The securities have weighted-average credit support of 22 %.

Based on the evaluation of available information relevant to collectibility, the Company believes that the unrealized loss positions on these debt securities are a function of changes in investment spreads and interest rate movements and not changes in credit quality and expects to recover the entire amortized cost basis of these securities.

Therefore, at March 31, 2026, no allowance has been recorded.

At March 31, 2026, the Company had $ 2.3 million of unrealized losses in floating rate CLOs having a fair value of $ 397.7 million.

Therefore, at June 30, 2026, no allowance has been recorded.

At June 30, 2026, the Company had $ 0.9 million of unrealized losses in floating rate CLOs having a fair value of $ 340.3 million.

CLOs are special purpose vehicles and those in which the Company has invested are nearly all first-lien, broadly syndicated corporate loans across a diversified band of industries while providing support to senior tranche investors.

As of March 31, 2026, all positions held by the Company are in AAA and AA tranches, with weighted-average credit support of 38 % and 24 %, respectively.

As of June 30, 2026, all positions held by the Company are in AAA and AA tranches, with weighted-average credit support of 38 % and 24 %, respectively.

The Company evaluates the securities for potential credit losses by modeling expected loan-level defaults, recoveries, and prepayments for each CLO security.

Based on the evaluation of available information relevant to collectibility, the Company believes that the unrealized loss positions on these debt securities are a function of changes in investment spreads and interest rate movements and not changes in credit quality, and expects to recover the entire amortized cost basis of these securities.

Therefore, at March 31, 2026, no allowance has been recorded.

At March 31, 2026, the Company had $ 6.0 million of unrealized losses on municipal securities having a fair value of $ 299.6 million and $ 1.9 million of unrealized losses on other debt securities having a fair value of $ 197.1 million.

Based on the evaluation of available information relevant to collectibility, the Company believes that the unrealized loss positions on these debt securities are a function of changes in investment spreads and not changes in credit quality and expects to recover the entire amortized cost basis of these securities.

Therefore, at June 30, 2026, no allowance has been recorded.

At June 30, 2026, the Company had $ 1.1 million of unrealized losses on municipal securities having a fair value of $ 88.1 million and $ 1.9 million of unrealized losses on other debt securities having a fair value of $ 139.0 million.

These securities are highly rated issuances, all of which are continuing to make timely contractual payments.

As a result, as of March 31, 2026, no allowance has been recorded.

As a result, as of June 30, 2026, no allowance has been recorded.

All HTM debt securities are issued by government-sponsored entities, which are either explicitly or implicitly guaranteed by the U.S.

1 unchanged sentence

The implied government guarantee of principal and interest payments, and the high credit rating of the HTM portfolio provide sufficient basis for the current expectation that there is no risk of loss if a default were to occur.

As a result, as of March 31, 2026, no allowance has been recorded.

As a result, as of June 30, 2026, no allowance has been recorded.

The Company has the intent and ability to hold these securities until maturity.

Included in Other assets at March 31, 2026 and December 31, 2025 is $ 135.6 million of FHLB and Federal Reserve Bank stock stated at par value.

Included in Other assets at June 30, 2026 and December 31, 2025 is $ 138.6 million and $ 135.6 million, respectively, of FHLB and Federal Reserve Bank stock stated at par value.

The Company has not identified events or changes in circumstances which may have a significant adverse effect on the fair value of these cost method investment securities.

Accrued interest receivable on AFS and HTM debt securities of $ 23.1 million and $ 1.0 million, respectively, at March 31, 2026, and $ 24.5 million and $ 1.0 million, respectively, at December 31, 2025, is included in Other assets.

Also included in Other assets are investments in CRA-qualified mutual funds carried at fair value of $ 13.8 million and $ 13.9 million at March 31, 2026 and December 31, 2025, respectively.

Accrued interest receivable on AFS and HTM debt securities of $ 26.8 million and $ 0.9 million, respectively, at June 30, 2026, and $ 24.5 million and $ 1.0 million, respectively, at December 31, 2025, is included in Other assets.

Also included in Other assets are investments in CRA-qualified mutual funds carried at fair value of $ 13.8 million and $ 13.9 million at June 30, 2026 and December 31, 2025, respectively.

Note 4 – Loans

The following tables present net loan balances by segment for portfolio loans, PCD loans and loans purchased which are not considered purchased credit deteriorated (“Non-PCD”) as of:

March 31, 2026

June 30, 2026

(In thousands) Portfolio Loans Acquired Non-PCD Loans PCD Loans Total

11 unchanged sentences

CRE - non-owner occupied

2,911,189 1,193,351 150,452 4,254,992

Residential real estate 2,101,868 963,836 33,155 3,098,859

2 unchanged sentences

Totals $ 9,067,802 $ 3,327,082 $ 233,100 $ 12,627,984

The amortized cost basis of loans included net deferred costs of $ 45.6 million at March 31, 2026 and $ 46.3 million at December 31, 2025.

At March 31, 2026, the remaining fair value adjustments on acquired loans were $ 138.1 million, or 4.0 % of the outstanding acquired loan balances, compared to $ 150.0 million, or 4.0 % of the acquired loan balances at December 31, 2025.

The discount is accreted into interest income over the remaining lives of the related loans on a level yield basis.

Accrued interest receivable is included within Other Assets and was $ 46.3 million and $ 45.7 million at March 31, 2026 and December 31, 2025, respectively.

The following tables present the status of net loan balances as of March 31, 2026 and December 31, 2025.

March 31, 2026

The amortized cost basis of loans included net deferred costs of $ 45.2 million at June 30, 2026 and $ 46.3 million at December 31, 2025.

At June 30, 2026, the remaining fair value adjustments on acquired loans were $ 129.2 million, or 4.0 % of the outstanding acquired loan balances, compared to $ 150.0 million, or 4.0 % of the acquired loan balances at December 31, 2025.

The net discount is accreted into interest income over the remaining lives of the related loans on a level yield basis.

Accrued interest receivable is included within Other assets and was $ 46.1 million and $ 45.7 million at June 30, 2026 and December 31, 2025, respectively.

The following tables present the status of net loan balances as of June 30, 2026 and December 31, 2025.

June 30, 2026

(In thousands) Current Accruing

5 unchanged sentences

CRE - owner occupied

1,638,760 1,232 448 — 18,720 1,659,160

CRE - non-owner occupied

3,011,779 1,067 — — — 3,012,846

Residential real estate 2,326,815 1,960 615 — 17,386 2,346,776

5 unchanged sentences

CRE - owner occupied

438,469 1,124 — — 3,128 442,721

CRE - non-owner occupied

1,090,607 373 502 — 5,826 1,097,308

Residential real estate 870,763 975 73 — 9,508 881,319

4 unchanged sentences

CRE - owner occupied

19,360 73 — — 539 19,972

CRE - non-owner occupied

114,340 — — — 13,069 127,409

Residential real estate 28,060 315 119 — 1,685 30,179

11 unchanged sentences

CRE - owner occupied

1,489,257 2,313 — — 14,228 1,505,798

CRE - non-owner occupied

2,908,789 1,735 271 — 394 2,911,189

Residential real estate 2,091,065 4,618 364 — 5,821 2,101,868

5 unchanged sentences

CRE - owner occupied

504,275 204 39 — 4,600 509,118

CRE - non-owner occupied

1,187,231 151 — — 5,969 1,193,351

Residential real estate 954,820 3,609 195 124 5,088 963,836

4 unchanged sentences

CRE - owner occupied

26,652 — 219 — 1,838 28,709

CRE - non-owner occupied

137,051 389 — — 13,012 150,452

Residential real estate 30,018 993 833 118 1,193 33,155

6 unchanged sentences

Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current, and future payments are reasonably assured.

The Company recognized interest income of $ 0.8 million and $ 0.7 million on nonaccrual loans during the three months ended March 31, 2026 and March 31, 2025, respectively.

The Company recognized interest income on nonaccrual loans of $ 0.9 million and $ 1.5 million during the three months ended June 30, 2026 and June 30, 2025, respectively.

The Company recognized $ 1.8 million and $ 2.2 million in interest income on nonaccrual loans during the six months ended June 30, 2026 and June 30, 2025, respectively.

The following tables present net balances of loans on nonaccrual status as of:

March 31, 2026

June 30, 2026

(In thousands) Nonaccrual Loans With No Related Allowance Nonaccrual Loans With an Allowance Total Nonaccrual Loans

1 unchanged sentence

CRE - owner occupied

17,633 4,754 22,387

CRE - non-owner occupied

17,593 1,302 18,895

Residential real estate 12,564 16,015 28,579

6 unchanged sentences

CRE - owner occupied

15,546 5,120 20,666

CRE - non-owner occupied

18,202 1,173 19,375

Residential real estate 1,448 10,654 12,102

12 unchanged sentences

The following tables present the risk rating of loans and year-to-date 1 gross charge offs by year of origination as of:

March 31, 2026

June 30, 2026

(In thousands) 2026 2025 2024 2023 2022 Prior Revolving Revolving Converted to Term Total

48 unchanged sentences

Gross Charge Offs 1

1 Represents gross charge-offs for the three months ending March 31, 2026

$ 812 $ 56 $ 81 $ 656 $ 803 $ 3,488 $ 2,635 $ — $ 8,531

1 Represents gross charge-offs for the six months ended June 30, 2026

December 31, 2025

49 unchanged sentences

Gross Charge Offs 1

1 Represents gross charge-offs for the year ending December 31, 2025.

The following tables present the amortized cost of TBM loans that were modified during the three months ended March 31, 2026 and March 31, 2025.

March 31, 2026

$ 842 $ 201 $ 262 $ 3,752 $ 1,573 $ 10,642 $ 2,750 $ — $ 20,022

1 Represents gross charge-offs for the year ended December 31, 2025.

The following tables present the amortized cost of TBM loans that were modified during the three and six months ended June 30, 2026 and June 30, 2025.

Three Months Ended June 30, 2026

(In thousands) Rate Reduction or Rate Reduction with Term Extension

Term Extension and/or Payment Delay Total 1

% of Total Class of Loans

Term Extension and/or Payment Delay Total % of Total Class of Loans

CRE - owner occupied

$ — $ 30 $ 30 — %

Residential real estate — 53 53 —

Totals $ — $ 83 $ 83 — %

Three Months Ended June 30, 2025

(In thousands) Rate Reduction or Rate Reduction with Term Extension

Term Extension and/or Payment Delay Total % of Total Class of Loans

Residential real estate $ — $ 170 $ 170 0.01 %

Commercial and financial — 1,511 1,511 0.09

Totals $ — $ 1,681 $ 1,681 0.02 %

Six Months Ended June 30, 2026

(In thousands) Rate Reduction or Rate Reduction with Term Extension

Term Extension and/or Payment Delay Total % of Total Class of Loans

CRE - owner occupied

$ — $ 30 $ 30 — %

CRE - non-owner occupied

— 6,201 6,201 0.15

Residential real estate — 127 127 —

2 unchanged sentences

Totals $ — $ 6,906 $ 6,906 0.05 %

1 At March 31, 2026, the unfunded lending related commitments associated with TBMs were immaterial.

March 31, 2025

Six Months Ended June 30, 2025

(In thousands) Rate Reduction or Rate Reduction with Term Extension

Term Extension and/or Payment Delay Total 1

% of Total Class of Loans

Term Extension and/or Payment Delay Total % of Total Class of Loans

CRE - owner occupied $ 81 $ — $ 81 — %

2 unchanged sentences

Totals $ 152 $ 3,112 $ 3,264 0.03 %

1 At March 31, 2025, the unfunded lending related commitments associated with TBMs were immaterial.

The following tables present the payment status of TBM loans that were modified in the twelve months prior to March 31, 2026 and in the twelve months prior to March 31, 2025.

March 31, 2026

There were no unfunded lending related commitments associated with TBMs as of June 30, 2026 and June 30, 2025.

The following tables present the payment status of TBM loans that were modified in the twelve months prior to June 30, 2026 and in the twelve months prior to June 30, 2025.

June 30, 2026

(In thousands) Current Accruing

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CRE - owner occupied

244 — — — 30 274

CRE - non-owner occupied

6,201 — — — — 6,201

Residential real estate 85 — — — 337 422

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Totals $ 7,207 $ — $ — $ — $ 456 $ 7,663

March 31, 2025

June 30, 2025

(In thousands) Current Accruing

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CRE - owner occupied

81 — — — — 81

Residential real estate 6 — — — 464 470

Commercial and financial 1,532 — — — 1,843 3,375

Consumer 28 — — — — 28

Totals $ 1,729 $ — $ — $ — $ 2,307 $ 4,036

2 unchanged sentences

Activity in the ACL is summarized as follows:

Three Months Ended March 31, 2026

Three Months Ended June 30, 2026

(In thousands) Beginning

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CRE - owner occupied

18,582 4,437 — 14 23,033

CRE - non-owner occupied

55,271 1,440 ( 1,052 ) 116 55,775

Residential real estate 52,394 ( 2,201 ) ( 97 ) 24 50,120

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Totals $ 176,252 $ 8,997 $ ( 4,604 ) $ 1,405 $ 182,050

Three Months Ended March 31, 2025

Three Months Ended June 30, 2025

(In thousands) Beginning

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CRE - owner occupied

12,598 343 — 1 12,942

CRE - non-owner occupied

45,191 1,055 — 381 46,627

Residential real estate 40,348 1,544 ( 225 ) 20 41,687

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Totals $ 140,267 $ 4,379 $ ( 3,926 ) $ 1,464 $ 142,184

Six Months Ended June 30, 2026

(In thousands) Beginning

Balance Provision

Losses Charge-

Offs Recoveries Ending

Construction and land development $ 9,740 $ ( 1,170 ) $ ( 34 ) $ 105 $ 8,641

CRE - owner occupied

16,528 6,299 ( 22 ) 228 23,033

CRE - non-owner occupied

56,143 576 ( 1,068 ) 124 55,775

Residential real estate 51,297 ( 856 ) ( 355 ) 34 50,120

Commercial and financial 37,943 4,337 ( 5,839 ) 938 37,379

Consumer 7,152 572 ( 1,213 ) 591 7,102

Totals $ 178,803 $ 9,758 $ ( 8,531 ) $ 2,020 $ 182,050

Six Months Ended June 30, 2025

(In thousands) Beginning Balance Provision

for Credit Losses Charge-

Offs Recoveries Ending

Construction and land development $ 7,252 $ ( 704 ) $ — $ 8 $ 6,556

CRE - owner occupied

11,825 1,115 — 2 12,942

CRE - non-owner occupied

43,866 1,933 ( 320 ) 1,148 46,627

Residential real estate 39,168 2,704 ( 226 ) 41 41,687

Commercial and financial 27,533 8,337 ( 9,732 ) 971 27,109

Consumer 8,411 244 ( 1,925 ) 533 7,263

Totals $ 138,055 $ 13,629 $ ( 12,203 ) $ 2,703 $ 142,184

Management establishes the allowance using relevant available information from both internal and external sources, relating to past events, current economic conditions, and reasonable and supportable forecasts.

Forecast data is sourced from Moody’s, a firm widely recognized for its research, analysis, and economic forecasts.

Forecast data is sourced from Moody’s, a

firm widely recognized for its research, analysis, and economic forecasts.

The forecasts of future economic conditions are over the expected remaining life of the loan using economic forecasts that revert to long-term historical averages over time.

As of March 31, 2026 and December 31, 2025, the Company utilized a multiple scenario model comprised of a blend of Moody’s economic scenarios and considered the uncertainty associated with the assumptions in the scenarios, including continued actions taken by the Federal Reserve regarding monetary policy and changes in interest rates and the potential impact of those actions.

As of June 30, 2026 and December 31, 2025, the Company utilized a multiple scenario model comprised of a blend of Moody’s economic scenarios and considered the uncertainty associated with the assumptions in the scenarios, including continued actions taken by the Federal Reserve regarding monetary policy and changes in interest rates and the potential impact of those actions.

Outcomes could differ from the scenarios utilized, and the Company incorporated qualitative considerations reflecting the risk of uncertain economic conditions, and for additional dimensions of risk that may not be captured in the quantitative model.

The following section discusses changes in the level of the ACL for the three months ended March 31, 2026.

The allowance decreased $ 2.6 million, or 1.4 %, during the first quarter of 2026 to $ 176.3 million, representing 1.39 % of loans held for investment as of March 31, 2026.

The following section discusses changes in the level of the ACL for the three months ended June 30, 2026.

The allowance increased $ 5.8 million, or 3.3 %, during the second quarter of 2026 to $ 182.1 million, representing 1.38 % of loans held for investment as of June 30, 2026.

In the Construction and land development segment, the decrease in allowance is primarily driven by a decrease in modeled expected losses.

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therefore, industry and collateral type and estimated collateral values are among the relevant factors in assessing expected losses.

In the CRE - owner-occupied segment, the allowance increased due to routine updates to assumptions for loss given default which increased for this segment.

In the CRE - owner-occupied segment, the allowance increased due to an increase in loan balances and an increase in expected losses driven by a combination of risk characteristics.

Risk characteristics include, but are not limited to, collateral type, note structure and loan seasoning.

In the CRE - non-owner-occupied segment, the allowance decrease is driven by lower loan balances.

In the CRE - non-owner-occupied segment, the allowance increase is driven by an increase in loan balances.

Repayment is often dependent upon rental income from the successful operation of the underlying property or from the sale of the property.

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The Residential real estate segment includes residential mortgage, home equity loans, and HELOCs.

The increase in the allowance is reflective of an increase in outstanding loan balances.

The decrease in the allowance is reflective of a decrease in expected losses given the portfolio’s strong credit performance, favorable asset quality trends, substantial collateral support, and progression of the integration of the acquired VBI portfolio.

Risk characteristics considered for this segment include, but are not limited to, borrower FICO score, lien position, LTV ratios, and loan seasoning.

In the Commercial and financial segment, borrowers are primarily small to medium sized professional firms and other businesses, and loans are generally supported by projected cash flows of the business, collateralized by business assets, and/or guaranteed by the business owners.

The allowance decreased in the first quarter due to charge-offs and due to routine updates to assumptions for loss given default, partially offset by growth in loan balances.

The allowance increased in the second quarter due to an increase in loan balances.

Industry, collateral type, estimated collateral values, and loan seasoning are among the relevant factors in assessing expected losses.

1 unchanged sentence

Risk characteristics considered for this segment include, but are not limited to, collateral type, LTV ratios, loan seasoning, and FICO scores.

The decrease in allowance for consumer loans was driven by a decrease in loan balances.

The increase in allowance for consumer loans was driven by an increase in loan balances.

Note 6 – Derivatives

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The Company considers these derivatives to be highly effective at achieving offsetting changes in cash flows attributable to changes in interest rates and has designated them as cash flow hedges.

Therefore, changes in the fair value of these derivative instruments are recognized in Other comprehensive income.

Therefore, changes in the fair value of these derivative

instruments are recognized in Other comprehensive income.

Amortization of the premium paid on cash flow hedges is recognized in earnings over the term of the hedge in the same caption as the hedged item.

For the three months ended March 31, 2026, the Company recognized $ 1.3 million through Other comprehensive income, and reclassified $ 0.1 million out of AOCI and into Interest Income.

For the three and six months ended June 30, 2026, the Company recognized $ 0.1 million and $ 1.4 million, respectively, through Other comprehensive income, and reclassified $ 0.1 million and $ 0.3 million, respectively, out of AOCI and into Interest Income.

Over the next twelve months the Company expects to reclassify $ 0.6 million from AOCI into Interest Income related to these agreements.

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These derivative instruments are primarily for risk management purposes.

There were no securities fair value hedges during the three months ended March 31, 2026.

For the three months ended March 31, 2025, the Company recognized through Other comprehensive income net losses of $ 0.4 million, and reclassified net gains of $ 2 thousand out of AOCI into interest income.

There were no securities fair value hedges during the three and six months ended June 30, 2026.

For the three and six months ended June 30, 2025, the Company recognized through Other comprehensive income, net losses of $ 0.1 million and $ 0.4 million, respectively, and reclassified net losses of $ 0.5 million in each period out of AOCI into interest income.

The Company has entered into interest rate swap contracts to hedge the risk of changes in the fair value of a pool of residential mortgages due to changes in SOFR.

3 unchanged sentences

These derivative instruments are primarily for risk management purposes.

For the three months ended March 31, 2026 and 2025, the Company recognized losses of $ 0.1 million and gains of $ 48 thousand, respectively, through interest income.

For each of the three and six months ended June 30, 2026, the Company recognized losses through interest income of $ 0.1 million.

For the three and six months ended June 30, 2025, the Company recognized losses of $ 0.1 million and $ 17 thousand, respectively, through interest income.

Economic Hedges

The Company enters into commitments to originate mortgage loans for which the interest rate on the loan is determined prior to funding IRLCs, forward loan sale commitments for the future delivery of these mortgage loans for sale on the secondary market, and forward TBA mortgage-backed securities, which are classified as freestanding derivatives.

For the three months ended March 31, 2026, the Company recognized gains of $ 0.2 million in Mortgage banking income in the Consolidated Statements of Income related to these non-hedging derivative financial instruments.

For the three and six months ended June 30, 2026, the Company recognized gains of $ 0.3 million and $ 0.5 million, respectively, in Mortgage banking income in the Consolidated Statements of Income related to these non-hedging derivative financial instruments.

(In thousands) Notional Amount Fair Value Balance Sheet Category

March 31, 2026

June 30, 2026

Interest rate contracts 1

$ 1,271,283 $ 21,007 Other assets and Other liabilities

Residential mortgage fair value hedges 100,000 41 Other liabilities

Residential mortgage fair value hedges 250,000 616 Other assets

1 unchanged sentence

IRLC 19,142 267 Other assets

Forward TBA mortgage-backed securities

15,273 269 Other assets

Forward loan sale commitment 3,349 42 Other liabilities

Forward TBA mortgage-backed securities 19,004 15 Other liabilities

Forward loan sale commitment 3,793 56 Other assets

December 31, 2025

4 unchanged sentences

IRLC 5,106 495 Other assets

Forward TBA mortgage-backed securities

5,122 94 Other liabilities

Forward TBA mortgage-backed securities 5,122 94 Other liabilities

Forward loan sale commitment 285 51 Other assets

1 Interest rate contracts include risk participation agreements with notional amounts of $ 65.1 million and $ 65.3 million at March 31, 2026, and December 31, 2025, respectively with nominal fair value in both periods.

1 Interest rate contracts include risk participation agreements with notional amounts of $ 106.8 million and $ 65.3 million at June 30, 2026, and December 31, 2025, respectively with nominal fair value in both periods.

The following table presents amounts recorded on the Consolidated Balance Sheet related to cumulative basis adjustments for fair value hedges.

Carrying amount of the hedged items Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged items

(In thousands) March 31, 2026 December 31, 2025 March 31, 2026 December 31, 2025

(In thousands) June 30, 2026 December 31, 2025 June 30, 2026 December 31, 2025

$ 994,735 $ 1,043,345 $ ( 620 ) $ 559

1 These amounts represent the amortized cost basis of closed portfolios used to designate hedging relationships in which the hedged item is the stated amount of assets in the closed portfolios anticipated to be outstanding for the designated hedge period.

At March 31, 2026, the portfolio layer method was $ 350 million, of which $ 350 million was designated as hedged.

At June 30, 2026, the portfolio layer method was $ 250 million, of which $ 250 million was designated as hedged.

At December 31, 2025, the portfolio layer method was $ 400 million, of which $ 400 million was designated as hedged.

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Company securities pledged were as follows by collateral type and maturity, as of:

(In thousands) March 31, 2026 December 31, 2025

(In thousands) June 30, 2026 December 31, 2025

Fair value of pledged securities - overnight and continuous:

2 unchanged sentences

Note 8 – Regulatory Capital

The Company is well-capitalized and at March 31, 2026, the Company and the Company’s principal banking subsidiary, Seacoast Bank, exceeded the CET1 capital ratio regulatory threshold of 6.5 % for well-capitalized institutions under the Basel III standardized transition approach, as well as risk-based and leverage ratio requirements for well-capitalized banks under the regulatory framework for prompt corrective action.

The Company is well-capitalized and at June 30, 2026, the Company and the Company’s principal banking subsidiary, Seacoast Bank, exceeded the CET1 capital ratio regulatory threshold of 6.5 % for well-capitalized institutions under the Basel III standardized transition approach, as well as risk-based and leverage ratio requirements for well-capitalized banks under the regulatory framework for prompt corrective action.

Note 9 – Contingent Liabilities

2 unchanged sentences

Note 10 – Fair Value

Under ASC Topic 820, fair value measurements for items measured at fair value on a recurring and nonrecurring basis at March 31, 2026 and December 31, 2025 included:

Under ASC Topic 820, fair value measurements for items measured at fair value on a recurring and nonrecurring basis at June 30, 2026 and December 31, 2025 included:

(In thousands) Fair Value

2 unchanged sentences

(Level 2) Significant

At March 31, 2026

At June 30, 2026

Financial Assets

6 unchanged sentences

3,473 — — 3,473

4,250 — — 4,250

Equity securities 4

34 unchanged sentences

This closing ratio is derived from internal data and is adjusted using significant accounting judgment.

As such, these derivatives are classified as Level 3 measurements and the Company values these derivatives primarily utilize a market approach that incorporates flow mandatory market pricing, adjusted for expected pull‑through based on historical experience.

For IRLCs, the weighted-average pull-through rate was 94 % and the weighted-average current reference price was 100.44 %.

For forward loan sale commitments, the weighted-average pull-through rate was 100 % and the weighted-average current reference price was 98.75 %.

As such, these derivatives are classified as Level 3 measurements and the Company values these derivatives primarily using a market approach that incorporates flow mandatory market pricing, adjusted for expected pull‑through based on historical experience.

For IRLCs, the weighted-average pull-through rate was 93 % and 94 % at June 30, 2026 and December 31, 2025, respectively, while the weighted-average current reference price was 101.33 % and 101.26 %, respectively.

For forward loan sale commitments, the weighted-average pull-through rate was 100 % at both June 30, 2026 and December 31, 2025, while the weighted-average current reference price was 101.45 % and 101.12 %, respectively.

Loans and OREO:

3 unchanged sentences

The fair values of these loans and properties are considered Level 3 in the fair value hierarchy.

Collateral-dependent loans measured at fair value totaled $ 2.5 million with a specific reserve of $ 0.3 million at March 31, 2026.

There were no collateral-dependent loans measured at fair value at December 31, 2025.

The fair value of these derivatives is based on an income approach.

There were no collateral-dependent loans measured at fair value at both June 30, 2026 and December 31, 2025.

The fair value of these servicing rights is based on an income approach.

Various unobservable inputs to assumptions including expected cash flows, market discount rates, prepayment rates, servicing costs, and other factors are utilized, therefore the valuation of MSRs is classified as Level 3.

The following table presents changes in the Company's MSRs measured at fair value for the three months ended March 31, 2026.

There was no MSR balance during the three months ended March 31, 2025:

Three Months Ended March 31,

(In thousands) 2026

The following table presents changes in the Company's MSRs measured at fair value for the three and six months ended June 30, 2026.

There was no MSR balance during the three and six months ended June 30, 2025:

Three Months Ended Six Months Ended

(In thousands) June 30, 2026

Carrying value at beginning of period $ 27,374 $ 28,061

5 unchanged sentences

The following table presents data and key economic assumptions, as well as the valuation's sensitivity to interest rate fluctuations, related to the Company’s MSRs as of:

(In thousands) March 31, 2026 December 31, 2025

(In thousands) June 30, 2026 December 31, 2025

Unpaid principal balance $ 2,412,887 $ 2,540,798

17 unchanged sentences

For recurring fair value measurements, transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstances that caused the transfer, which generally coincides with the Company’s monthly and/or quarterly valuation process.

During the three months ended March 31, 2026 and 2025, there were no such transfers.

During the six months ended June 30, 2026, there were no such transfers.

For additional information on the valuation techniques and significant inputs for Level 2 and Level 3 assets and liabilities that are measured at fair value on a recurring basis, see “Note 16 - Fair Value” of the Annual Report on Form 10-K for the year ended December 31, 2025.

The carrying amount and fair value of the Company’s other financial instruments that were not disclosed previously in the balance sheet and for which carrying amount is not fair value as of March 31, 2026 and December 31, 2025 is as follows:

(In thousands) Carrying Amount Quoted Prices in Active Markets for Identical Assets

1 unchanged sentence

(Level 2) Significant Unobservable Inputs

March 31, 2026

June 30, 2026

Financial Assets

1 unchanged sentence

$ 564,067 $ — $ 465,718 $ —

Time deposits with other banks 2,490 — 2,471 —

Loans, net 12,963,389 — 155,803 12,572,349

14 unchanged sentences

1 See “Note 3 – Securities” for further detail of recurring fair value basis of individual investment categories.

The short maturity of Seacoast’s assets and liabilities results in a significant number of financial instruments whose fair value equals or closely approximates carrying value.

The short maturity of the Company’s assets and liabilities results in a significant number of financial instruments whose fair value equals or closely approximates carrying value.

Such financial instruments are reported in the following balance sheet captions:

cash and due from banks, interest-bearing deposits with other banks, and securities sold under agreements to repurchase.

The following methods and assumptions were used to estimate the fair value of each class of financial instrument for which it is practicable to estimate that value at March 31, 2026 and December 31, 2025:

The following methods and assumptions were used to estimate the fair value of each class of financial instrument for which it is practicable to estimate that value at June 30, 2026 and December 31, 2025:

HTM debt securities :

7 unchanged sentences

The fair value of Level 3 loans is calculated by discounting scheduled cash flows through the estimated life including prepayment considerations, using estimated market discount rates that reflect the risks inherent in the loan.

The fair value approach considers market-driven variables including credit related factors and reflects an

“exit price” as defined in ASC Topic 820.

The fair value approach considers market-driven variables including credit related factors and reflects an “exit price” as defined in ASC Topic 820.

The fair value of Level 2 loans is valued using observable market-based inputs, including quoted prices obtained from third-party pricing services based on recent market transactions and dealer quotations for comparable instruments.

Investments at NAV :

The Company has equity investments in SBICs accounted for under the fair value practical expedient of NAV totaling $ 25.6 million at March 31, 2026 and $ 26.4 million at December 31, 2025, which are not included in the fair value hierarchy.

The Company has equity investments in SBICs accounted for under the fair value practical expedient of NAV totaling $ 25.2 million at June 30, 2026 and $ 26.4 million at December 31, 2025, which are not included in the fair value hierarchy.

These investments are made primarily through various SBIC funds as a strategy to provide expansion and growth opportunities to small businesses and are subject to various risks, including market, liquidity, and credit risk.

1 unchanged sentence

Distributions are received through the liquidation of the underlying assets, which is expected to occur over the next 5 - 10 years.

Unfunded commitments related to these investments were $ 8.0 million at March 31, 2026 and $ 8.7 million at December 31, 2025.

Unfunded commitments related to these investments were $ 8.0 million at June 30, 2026 and $ 8.7 million at December 31, 2025.

Deposit liabilities :

4 unchanged sentences

On October 1, 2025, the Company completed its acquisition of VBI, adding 19 branches in North Central Florida including The Villages® community.

Integration activities, including system conversion, are expected to be finalized in the third quarter of 2026.

The Company acquired 100 % of the outstanding common stock of VBI.

14 unchanged sentences

1 Preferred stock is 1/1,000 th share for every share of common stock.

The acquisition of VBI will be accounted for under the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations .

The acquisition of VBI was accounted for under the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations .

The Company recognized goodwill of $ 280.4 million for this acquisition that is nondeductible for tax purposes.

41 unchanged sentences

On July 11, 2025, the Company completed its acquisition of Heartland, adding four branches in Central Florida.

Integration activities, including system conversion, were also finalized in the third quarter of 2025.

The Company acquired 100 % of the outstanding common and preferred stock of Heartland.

14 unchanged sentences

Determining fair values of assets and liabilities, especially the loan portfolio, CDI, and deferred taxes, is a complicated process involving significant judgment regarding methods and assumptions used to calculate estimated fair values.

The fair values initially assigned to assets acquired and liabilities assumed are preliminary and could change for up to one year after the closing date of the acquisition as new information and circumstances relative to closing date fair values becomes known.

The table below presents the allocation of the purchase consideration.

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Proforma Information

Pro-forma data as of March 31, 2026 and 2025 present information as if the acquisition of VBI occurred at the beginning of 2025.

The table below presents pro-forma data as if the acquisition of VBI occurred at the beginning of 2025.

The pro-forma information is presented for illustrative purposes only and is not necessarily indicative of the results of operations that would have occurred if the transactions had been effected on the assumed dates.

For the Three Months Ended

Three Months Ended June 30, Six Months Ended June 30,

(In thousands, except per share data) 2026 2025 2026 2025

13 unchanged sentences

Certain noncash expenses, such as depreciation and amortization expense, are disclosed in the Consolidated Statement of Cash Flows.

Note 13 – Subsequent Event

Subsequent to March 31, 2026, the Company repurchased 320,763 shares of its common stock at a weighted-average price of $ 31.18 per share pursuant to its share repurchase program.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements