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STUART, Fla. (AP) — STUART, Fla. (AP) — Seacoast Banking Corp. of Florida (SBCF) on Thursday reported first-quarter net income of $31.5 million.
The Stuart, Florida-based bank said it had earnings of 37 cents per share. Earnings, adjusted for one-time gains and costs, came to 38 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The holding company for Seacoast National Bank posted revenue of $206.4 million in the period. Its revenue net of interest expense was $140.7 million, exceeding Street forecasts.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SBCF at https://www.zacks.com/ap/SBCF