Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Q4 2022 Earnings Conference Call January 27, 2023 10:00 AM ET
Company Participants
Chuck Shaffer - Chairman and CEO
Tracey Dexter - CFO
Michael Young - Treasurer and Director of IR
Conference Call Participants
Brady Gailey - KBW
David Feaster - Raymond James
Brandon King - Truist Securities
Operator
Greetings, and welcome to the Seacoast Banking Corporation's Fourth Quarter and Full-Year 2022 Earnings Conference Call. My name is Malika, and I will be your operator for today. [Operator Instructions]
Before we begin, I have been asked to direct your attention to the statement at the end of the company's press release regarding forward-looking statements. Seacoast, will be discussing issues that constitute forward-looking statements within the meaning of the Securities and Exchange Act and its comments today are intended to be covered within the meaning of that Act. Please note that this conference is being recorded
I will now turn the conference over to Chuck Shaffer, Chairman and CEO of Seacoast Bank. Mr. Shaffer, you may now begin.
Chuck Shaffer
Thank you all for joining us this morning.
As we provide our comments will reference the fourth quarter and full-year 2022 earnings slide deck, which you can find at seacoastbanking.com. I'm joined today by Tracey Dexter, Chief Financial Officer; and Michael Young, Treasurer and Director of Investor Relations.
Looking back at 2022, we made remarkable progress in expanding the franchise throughout Florida. Through acquisitions and new market launches, we strengthened our competitive position across the state and across the $10 billion in assets threshold.
We started the year with the completion of the Sabal Palm Bank and Florida Business Bank of Florida transactions, putting us in the desirable Sarasota market and continuing our growth in Brevard County. Also in the first quarter, we entered Naples and Jacksonville with de novo teams, resulting in better than expected customer growth in both markets over the last 12 months.
In early October, we completed the acquisition of Drummond Bank, expanding our presence in North Florida including Ocala and Gainesville and added an exceptional C&I team covering both markets. Also in October, we expanded our franchise into the dynamic Miami-Dade County market with the Apollo acquisition. And during the third quarter, we announced the addition of Professional Bank expanding our reach in South Florida even further.
Moreover, in early 2022, we continued our focus on delivering better digital experiences to our customers. Completing a significant digital conversion adding Zelle, budgeting tools, account aggregation, proved digital onboarding, Spanish language and several other digital customer experience improvements. We enhanced our commercial banking team in 2022 with a transformative year of recruiting well-seasoned commercial bankers treasury officer and credit officers throughout Florida, meaningfully increasing productivity over the prior year.