Seacoast Banking Corp of Florida Acquires Heartland National Bank

By Bobby Samwell • Sunday, July 13 15:20 • Permanent Link

Seacoast Banking Corporation of Florida ("Seacoast") has completed its acquisition of Heartland Bancshares, Inc. ("Heartland"), the parent company of Heartland National Bank. The merger of Heartland National Bank into Seacoast Bank was effective as of July 11, 2025, with Seacoast National Bank being the surviving financial institution.

Under the terms of the merger agreement, Heartland shareholders received a combination of cash and stock, with the final consideration amounting to approximately $111.2 million.

As of March 31, 2025, Heartland had leading deposit market share in Highlands County, with approximately $665.9 million in deposits and total consolidated net loans of about $156.6 million.

Seacoast's Chairman and CEO, Charles M. Shaffer, expressed excitement about the acquisition, stating, "We are delighted to welcome Heartland’s customers and associates to Seacoast. Heartland is a customer-focused franchise with an outstanding reputation for service excellence and deep customer relationships. We see a great opportunity to grow our presence in central Florida by complementing Heartland’s strengths with Seacoast’s breadth of offerings. The combined franchise will continue to provide exceptional service for this growing market."

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) is one of the largest community banks headquartered in Florida, with approximately $15.7 billion in assets and $12.6 billion in deposits as of March 31, 2025. Seacoast and its subsidiaries provide integrated financial services, including commercial and consumer banking, wealth management, and mortgage services, operating at over 83 full-service branches across Florida, as well as through advanced mobile and online banking solutions.

The acquisition marks a significant expansion for Seacoast, as it seeks to leverage Heartland's strong market position and customer relationships to enhance its presence in the central Florida region. As a result of these announcements, the company's shares have moved -1.25% on the market, and are now trading at a price of $29.29. If you want to know more, read the company's complete 8-K report here.

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