Seacoast Banking Acquires Villages Bancorporation
Seacoast Banking Company of Florida (NASDAQ:SBCF) lately disclosed the acquisition of Villages Bancorporation, Inc. (VBI), the father or mother firm of Residents First Financial institution, for an estimated $710.8 million.
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By way of a proration mechanism, VBI stockholders will get a mixture of $1,000 in money and 38.5 Seacoast Banking Company of Florida (NASDAQ:SBCF) shares per share, guaranteeing 25% money and 75% inventory. The transaction is scheduled to wrap up in This fall 2025 and be 22% EPS accretive by 2026, with a tangible e book worth earnback in lower than three years.
VBI has $1.3 billion in loans, $3.5 billion in deposits, and $4.1 billion in property all through its 19 branches. It owns a deposit share of greater than 50% within the Wildwood-The Villages MSA. The Villages, a high-growth Florida city of 150,000 folks, affords a strategic growth alternative.
Seacoast Banking Company of Florida (NASDAQ:SBCF) may have $21 billion in professional forma property after the VBI and Heartland Bancshares transactions.
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