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Seacoast Completes Acquisitions Of Sabal Palm Bancorp, Inc. And Business Bank Of Florida, Corp.

Jan 03, 2022•over 3 years ago

Acquiring Company

Seacoast Banking Corporation of Florida (NASDAQ

Acquired Company

Sabal Palm Bancorp

Media And EntertainmentSoftware

Description

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) ("Seacoast"), the holding company for Seacoast National Bank, announced today the completion of its acquisitions of Sabal Palm Bancorp, Inc. (“Sabal Palm”), parent company of Sabal Palm Bank, and of Business Bank of Florida, Corp. (“BBFC”), parent company of Florida Business Bank, effective January 3, 2022. The mergers of Sabal Palm Bank and Florida Business Bank with and into Seacoast National Bank were also effective January 3, 2022 with Seacoast National Bank being the surviving financial institution.

Company Information

Company

Seacoast Banking Corporation of Florida (NASDAQ

About

Seacoast Banking Corporation of Florida is one of the largest community banks headquartered in Florida with approximately $9.9 billion in assets and $8.3 billion in deposits as of September 30, 2021. The Company provides integrated financial services including commercial and retail banking, wealth management, and mortgage services to customers through advanced banking solutions, and 52 traditional branches of its locally-branded, wholly-owned subsidiary bank, Seacoast National Bank. Offices stretch from Fort Lauderdale, Boca Raton and West Palm Beach north through the Daytona Beach area, into Orlando and Central Florida and the adjacent Tampa market, and west to Okeechobee and surrounding counties. More information about the Company is available at www.SeacoastBanking.com.

M&A Insights

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Integration timeline
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Tech stack consolidation
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Post-acquisition investment
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