Seacoast Banking Corporation of Florida, the parent company of Seacoast National Bank, has agreed to acquire Villages Bancorporation, Inc. (VBI), for roughly $710.8m.  

VBI is the parent entity of Citizens First Bank, based in The Villages, Florida.  

Under the agreed terms, 25% of VBI’s common stock will be exchanged for cash, while the remaining 75% will be converted to Seacoast stock.  

The deal’s completion is anticipated in the fourth quarter of 2025, pending regulatory approvals, green light from VBI shareholders, and the fulfilment of other standard closing conditions. 

VBI’s operations include 19 branches, with deposits totalling $3.5bn and loans around $1.3bn as of 31 March 2025. 

The acquisition is expected to be around 22% accretive to earnings per share in 2026 for Seacoast.  

Seacoast chairman and CEO Charles M. Shaffer said: “We are excited to complement VBI’s strengths with Seacoast’s innovative products and breadth of offerings in this unique market.”  

“We believe this partnership is attractive to all stakeholders, with the continuation of a strong service-oriented culture for our associates, an attractive increase in profitability and earnings within a reasonable earnback period for our shareholders, and expanding products and services for our new customers.” 

VBI CEO Jay Bartholomew stated: “Now, in partnership with Seacoast, we are positioned to further accelerate this commitment, creating a best-in-class banking experience supported by a great team of professionals. We are delighted to join with Seacoast Bank, which shares our values and has been serving Florida consumers and businesses for nearly a century.” 

Upon completion of this acquisition, along with the recent agreement to purchase Heartland Bancshares, Seacoast’s assets are projected to reach $21bn, with deposits of $17bn and gross loans of $12bn, based on figures from 31 March 2025.