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Seacoast Completes Acquisition of Legacy Bank of Florida

August 09, 2021, 07:03 AM
Filed Under: Mergers & Acquisitions

Seacoast Banking Corporation of Florida, the holding company for Seacoast National Bank, announced the completion of its acquisition of Legacy Bank of Florida, pursuant to the merger of Legacy Bank with and into Seacoast Bank.

Legacy Bank, headquartered in Boca Raton, FL, had deposits of approximately $485 million and loans of approximately $476 million as of June 30. The acquisition increases Seacoast’s presence in South Florida, one of the strongest and fastest growing markets in the country, and complements Seacoast’s prior acquisitions in the market.

“Our acquisition of Legacy Bank accelerates Seacoast's expansion into Palm Beach and Broward County and positions us to increase shareholder value over time by bringing our broad range of convenient digital solutions and personalized brand of customer service to new markets and clients," said Charles Shaffer, Seacoast's President and Chief Executive Officer. "With a shared vision of customer service and supporting our communities, we are excited about building on this combination with Legacy Bank in the future years ahead.”

Transaction Details
Piper Sandler Companies served as financial advisor and Alston & Bird LLP served as legal counsel to Seacoast. Hovde Group LLC served as financial advisor and Fenimore, Kay, Harrison & Ford, LLP served as legal counsel to Legacy Bank.

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