This Slide: #18 of 100 |
Slide #18. Seacoast Banking Corporation of Florida — The BANKshares, Inc.
Acquirer:
Seacoast Banking Corporation of Florida (NASDAQ:SBCF)
Acquiree:
The BANKshares, Inc.
Details:
Seacoast Banking Corporation of Florida (NASDAQ-NMS: SBCF) and The BANKshares, Inc. ("BANKshares") announced today the signing of a definitive agreement pursuant to which BANKshares will merge with and into Seacoast. The acquisition will create the sixth largest Florida-based bank by total assets with approximately $3.0 billion. The combined franchise will also have $2.3 billion of deposits and 46 branches.
Seacoast Banking is a financial holding company. Co.'s principal subsidiary is Seacoast National Bank, a wholly-owned national banking association (Seacoast Bank). Co. provides financial services including commercial and retail banking, wealth management and mortgage services. Seacoast Bank also provides brokerage and annuity services. Seacoast Bank personnel managing the sale of these services are dual employees with LPL Financial, the company through which Seacoast Bank conducts brokerage and annuity services. Seacoast Insurance Services, Inc., a wholly owned subsidiary of Co., facilitates access for Co. to provide customers with a range of insurance products.
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Hold (2.43 out of 4) 2nd percentile
(ranked lower than approx. 98% of all stocks covered)
Analysts' Target Price: SBCF Stock Forecast Based on Zacks ABR data; powered by Xignite |