Seacoast Banking Corp Expands with Villages Bancorporation Acquisition

By Hao Liu • Tuesday, October 07 15:29 • Permanent Link

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) has completed its acquisition of Villages Bancorporation, Inc. (VBI), the parent company of Citizens First Bank, effectively expanding Seacoast's presence into The Villages, a unique planned community in central Florida known for its high population growth rates. The acquisition was finalized on October 1, 2025, with each share of VBI common stock being converted into the right to receive either $1,000.00 in cash, 38.5000 shares of Seacoast common stock, or a 25%-75% combination of cash and common stock.

The final consideration for the acquisition amounted to approximately $829 million. Citizens First Bank held the leading deposit market share of over 50% in the Wildwood-The Villages MSA, operating 19 branches with deposits of approximately $3.5 billion and total consolidated net loans of approximately $1.3 billion as of June 30, 2025.

Seacoast Banking Corporation of Florida, with approximately $15.9 billion in assets and $12.5 billion in deposits as of June 30, 2025, now has an expanded presence across Florida with 103 full-service branches, offering integrated financial services including commercial and consumer banking, wealth management, and mortgage services.

The transaction details included Piper Sandler & Co. serving as financial advisor, Alston & Bird LLP as legal counsel to Seacoast, and Raymond James & Associates, Inc. rendering a fairness opinion to Seacoast's board of directors. Hovde Group, LLC served as financial advisor, and Smith Mackinnon, PA served as legal counsel to VBI.

Charles M. Shaffer, Chairman and CEO of Seacoast, expressed that the acquisition aligns perfectly with Seacoast's values, creating even greater value for customers and shareholders while building on a solid foundation to support continued growth and success across the communities served.

This acquisition marks a significant expansion for Seacoast Banking Corporation of Florida, further solidifying its position as one of the largest community banks headquartered in Florida. Following these announcements, the company's shares moved 1.78%, and are now trading at a price of $31.47. Check out the company's full 8-K submission here.

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