Deal Snapshot
SEACOAST TO ACQUIRE FIRST BANK OF THE PALM BEACHES FOR USD 32.9M
Friday 29 November 2019

Florida, US-based Seacoast Banking Corp. of Florida (NASDAQ: SBCF), the holding company for Seacoast National Bank, has agreed to acquire First Bank of the Palm Beaches in a transaction valued at approximately USD 32.9m, the company said.
Pursuant to the terms of the merger agreement, First Bank, headquartered in West Palm Beach, will be merged with and into Seacoast Bank. Organised in 2006, First Bank has deposits of approximately USD 172m and loans of USD 150m and will increase Seacoast's deposits in Palm Beach County by 25% to approximately USD 821m.


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Details
Date Published: 29/11/2019
Target: First Bank of the Palm Beaches
Country: USA
Deal Size: 32.9m (USD)
Sector: Banking/Financial Services
Type: Corporate acquisition
Financing: Stock
Status: Agreed
Vendor:
Buyer: Seacoast Banking Corp. of Florida
Comment:


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