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Following the agreement, Floridian Bank, Floridian's wholly-owned subsidiary, has merged with Seacoast's wholly-owned subsidiary, Seacoast National Bank.
Floridian, headquartered in Lake Mary, Florida, currently operates ten branches in Orlando and Daytona Beach and will add approximately USD 426m in assets, USD 361m in deposits, and USD 289m in gross loans to Seacoast.
The benefits of buying locally are well documented," said Tom Holbrook, president of Seacoast Local and owner of RiverRun Bookstore in Portsmouth.
Seacoast Banking Corporation of Florida provides integrated financial services and is a network of community banks based in Florida.
Headquartered in San Diego, California, Seacoast Commerce Banc Holdings, and its wholly-owned subsidiary, Seacoast Commerce Bank, has full-service branches in San Diego and Chula Vista, California, and production offices in San Diego, Orange County, Los Angeles, Sacramento and San Ramon, California; Phoenix, Arizona; Denver, Colorado; Las Vegas and Reno, Nevada; Houston and Dallas, Texas; and Seattle, Washington.
Last November, the companies announced a deal under which Seacoast Banking would acquire Floridian Financial in a cash and stock deal worth around USD 76.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF), a bank holding company whose principal subsidiary is Seacoast Bank, said it has purchased certain assets, factored receivables and employee expertise of First Growth Capital's (FGC) commercial accounts receivable funding and small asset based facility group.
9 panel, said, "Given the shift in the market over the last 12 months, we felt it was important to get the word out to both our fellow Realtors and the media that the real estate market in the Seacoast is strong; different than a year ago, but still strong.
Headquartered in Lake Mary, Florida, Floridian currently operates 10 branches in Orlando and Daytona Beach and will add approximately USD426m in assets, USD361m in deposits and USD289m in gross loans to Seacoast.