Street Calls of the Week
STUART, Fla. - Seacoast Banking Corporation of Florida (NASDAQ:SBCF), a regional bank with a market capitalization of $2.65 billion and a strong year-to-date return of 12.8%, announced Wednesday the completion of its acquisition of Villages Bancorporation, Inc. (VBI), the parent company of Citizens First Bank, in a transaction valued at approximately $829 million. According to InvestingPro data, Seacoast maintains a ’Fair’ overall financial health score, suggesting stable operational performance.
Under the terms of the merger agreement, VBI shareholders received consideration in the form of cash, Seacoast common stock, or a combination of both, subject to a proration mechanism ensuring 25% of VBI shares received cash and 75% received stock consideration.
The acquisition expands Seacoast’s presence into The Villages, a planned community in Central Florida with one of the highest population growth rates in the United States. The Villages is home to approximately 150,000 residents across 77,000 homes spanning 60,000 acres.
Citizens First Bank has maintained the leading deposit market share of over 50% in the Wildwood-The Villages MSA. The bank operates 19 branches with approximately $3.5 billion in deposits and $1.3 billion in total consolidated net loans as of June 30, 2025. This acquisition aligns with Seacoast’s growth strategy, which has helped deliver a 5.4% revenue growth in the last twelve months. Get deeper insights into Seacoast’s growth potential with a comprehensive Pro Research Report, available exclusively on InvestingPro.
"VBI’s deep local relationships and commitment to personalized service align perfectly with Seacoast’s values," said Charles M. Shaffer, Chairman and CEO of Seacoast.
The merger of Citizens First Bank with and into Seacoast National Bank was also effective October 1, with Seacoast National Bank as the surviving financial institution.
Piper Sandler & Co. served as financial advisor to Seacoast, while Hovde Group, LLC advised VBI on the transaction.
Prior to this acquisition, Seacoast reported approximately $15.9 billion in assets and $12.5 billion in deposits as of June 30, 2025, with 103 full-service branches across Florida.
This article is based on information from a company press release.
In other recent news, Seacoast Banking Corporation of Florida reported strong second-quarter 2025 earnings, exceeding analysts’ expectations. The company posted an earnings per share (EPS) of $0.52, surpassing the forecasted $0.42, while revenue reached $151.4 million, outperforming predictions. Additionally, Seacoast received all necessary regulatory approvals for its planned acquisition of Villages Bancorporation, Inc., which includes the merger of Citizens First Bank into Seacoast National Bank. This development marks a significant step forward in the company’s expansion plans.
In related updates, Keefe, Bruyette & Woods raised its price target for Seacoast Banking to $33.00 from $32.00, maintaining an Outperform rating. This adjustment follows Seacoast’s improved profitability, evidenced by higher fees, increased net interest income, and a reduced loan loss provision in the second quarter. The bank’s net interest margin also expanded, accompanied by a 12 basis point reduction in deposit costs from the previous quarter. These recent developments highlight Seacoast’s strong financial performance and strategic growth initiatives.
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