Seacoast Banking Corporation of Florida acquires Sabal Palm Bancorp and Business Bank of Florida for $53.9 million and $28.4 million, respectively. In the aggregate, the two transactions will increase the assets of Seacoast by approximately $600 million. Sabal Palm shareholders will receive 0.2203 shares of Seacoast for each of their shares and BBF shareholders will receive 0.7997 shares. Both transactions are expected to close in Q1 2022.
Seacoast Banking Corporation of Florida acquires Sabal Palm Bancorp and Business Bank of Florida for $53.9 million and $28.4 million, respectively. In the aggregate, the two transactions will increase the assets of Seacoast by approximately $600 million. Sabal Palm shareholders will receive 0.2203 shares of Seacoast for each of their shares and BBF shareholders will receive 0.7997 shares. Both transactions are expected to close in Q1 2022. 
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