Seacoast Banking Corporation of Florida, the parent of Seacoast National Bank (Seacoast), has concluded its acquisition of Floridian Financial Group (Floridian).
Following the completion of the deal, Floridian Bank, Floridian’s wholly-owned subsidiary, merged with and into Seacoast’s wholly-owned subsidiary, Seacoast National Bank.
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The $76.5m deal was announced in November 2015.
As of 31 December 2015, Floridian managed about $407m in assets, $286m in loans, and $339m in deposits.
Seacoast Chairman and CEO Dennis Hudson, III said: "We are excited to welcome Floridian’s nearly 5,500 customers to Seacoast. This acquisition, together with the pending BMO Harris transaction, more than doubles Seacoast’s existing market share in the attractive Orlando MSA."
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