SEACOAST BANKING CORP OF FLORIDASBCF

SEACOAST BANKING CORP OF FLORIDA Earnings Per Share Disclosure

10-KFiled Feb 27, 20262 min read
Note 2 - Earnings Per Share
The Company computes EPS using the two-class method. The two-class method of computing EPS is an earnings allocation formula that determines EPS for common stock and any participating securities according to dividends declared and participation rights in undistributed earnings. The Company's Series A Non-Voting Preferred Stock is a participating security. Basic earnings per common share are computed by dividing net income available to common shareholders by the weighted-average number of shares of common stock outstanding during each period. 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 321,102 in 2025, 327,186 in 2024, and 344,230 in 2023, were anti-dilutive.
 For the Year Ended December 31,
(In thousands, except per share data)202520242023
Basic EPS   
Net income$144,878 $120,986 $104,033 
Less preferred stock dividends(2,138)— — 
Net income available to common shareholders142,740 120,986 104,033 
Less allocation of earnings to preferred stock(2,434)— — 
Net income available to common shareholders after allocation of earnings to preferred stock$140,306 $120,986 $104,033 
Average common shares outstanding88,276 84,367 83,800 
Net income per share$1.59 $1.43 $1.24 
Diluted EPS
Net income$144,878 $120,986 $104,033 
Less preferred stock dividends(2,138)— — 
Net income available to common shareholders142,740 120,986 104,033 
Less allocation of earnings to preferred stock(2,411)— — 
Net income available to common shareholders after allocation of earnings to preferred stock$140,329 $120,986 $104,033 
Average common shares outstanding88,276 84,367 83,800 
Add: Dilutive effect of employee restricted stock and stock options
830 673 529 
Average diluted shares outstanding89,106 85,040 84,329 
Net income per share$1.57 $1.42 $1.23 

Historical Timeline

Fiscal YearFiled
2025Feb 27, 2026Showing above
2024Feb 25, 2025
2023Feb 27, 2024
2022Mar 1, 2023
2021Feb 28, 2022
2020Mar 1, 2021
2019Feb 27, 2020
2018Feb 26, 2019
2017Feb 28, 2018
2016Mar 16, 2017
2015Mar 14, 2016

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

Income TaxesRevenueFair ValuePP&EGoodwill & IntangiblesLeasesSegmentsDebtCommitmentsStock CompensationNew Standards