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Bank mergers

Seacoast Banking to Acquire Villages Bancorporation in $710.8 Million Deal

Strategic Insights

— 1 min read

Seacoast Banking Corporation of Florida, the holding company for Seacoast National Bank, has announced a definitive agreement to acquire Villages Bancorporation, Inc., parent company of Citizens First Bank based in The Villages, Florida. The acquisition, valued at around $710.8 million, will expand Seacoast's presence in the state of Florida, where it currently operates 79 full-service branches. With USD4.1bn in assets as of March 31, 2025, Villages Bancorporation is a significant player in the Florida banking market, operating 19 branches with deposits of around USD3.5bn and loans of around USD1.3bn as of the same date.

Key Takeaways:

  • Seacoast Banking Corporation of Florida will acquire Villages Bancorporation, Inc. in a deal valued at around $710.8 million.
  • The acquisition will result in Seacoast having pro forma total assets of USD21.0bn, total deposits of USD17.0bn, and gross loans of USD12.0bn, based on financial data as of March 31, 2025.
  • Villages Bancorporation has 19 branches in Florida with deposits of around USD3.5bn and loans of around USD1.3bn as of March 31, 2025.
  • The transaction is subject to approvals from regulatory authorities, the approval of VBI shareholders, and the satisfaction of other customary closing conditions.
  • Seacoast Banking Corporation of Florida is headquartered in Florida with around USD15.7bn in assets as of March 31, 2025, and operates through 79 full-service branches across the state.
  • The acquisition is expected to close in the fourth quarter of 2025, pending regulatory approval and shareholder approval.

Statistics:

  • Total merger consideration: around $710.8 million
  • VBI's assets as of March 31, 2025: USD4.1bn
  • VBI's deposits as of March 31, 2025: USD3.5bn
  • VBI's loans as of March 31, 2025: USD1.3bn
  • Seacoast's assets as of March 31, 2025: around USD15.7bn
  • Number of Seacoast branches: 79
  • Total VBI branches: 19

Sources:

  • M2 EQUITYBITES, May 30, 2025, Seacoast Banking to acquire Villages Bancorporation (C)2025 M2 COMMUNICATIONS http://www.m2.co.uk

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