Seacoast Banking Corp. Of Florida
0.0 %
16.78 %
Yet to be announced
Company Overview
Seacoast Banking Corporation of Florida provides financial services to retail and commercial customers in Florida. It offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts. The company was founded in 1926 and is headquartered in Stuart, Florida.
Revenue Sources
Based on the financial data provided, the company's primary source of revenue is from banking operations, specifically interest income. While some banking activities may be considered permissible, the company's core business model revolves around conventional interest-based lending and borrowing, which is considered haram in Islamic finance.
Reliance on Interest
| Reporting Date | Total Revenue | Total Expense | Interest Income | Interest Expense | Interest Income Ratio | Interest Expense Ratio |
|---|---|---|---|---|---|---|
| Sept. 30, 2024 | $130.34m | $77.45m | $106.67m | $77.45m | 81.83% | 100.00% |
| June 30, 2024 | $126.61m | $75.38m | $104.42m | $75.38m | 82.48% | 100.00% |
| March 31, 2024 | $125.58m | $70.63m | $105.08m | $70.63m | 83.68% | 100.00% |
| Dec. 31, 2023 | $128.16m | $66.04m | $110.82m | $66.04m | 86.47% | 100.00% |
Analysis of the last four quarters shows that interest is material to the company's operations. Interest income consistently represents over 80% of total revenue, and interest expense makes up a significant portion of total expenses. This indicates that interest-based activities are core to the company's business model.
Operational Ethics
Based on available information from SEC filings and company disclosures, there is no evidence of significant ongoing associations with entities involved in human rights violations such as the state of Israel or the Chinese Communist Party.
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