Seacoast Banking to acquire Heartland Bancshares

STUART, Fla. - Seacoast Banking Corporation of Florida (NASDAQ: SBCF), a $2.2 billion market cap regional bank known as Seacoast and parent company of Seacoast National Bank, has received all necessary regulatory approvals for its acquisition of Heartland Bancshares, Inc., the company announced. The Federal Reserve System’s Board of Governors and the Office of the Comptroller of the Currency have given the green light to Seacoast’s application regarding the purchase of Heartland Bancshares, as well as the merger of Heartland National Bank into Seacoast Bank.

The transaction is slated to be finalized around July 11, 2025, contingent on customary closing conditions and the approval of Heartland Bancshares’ shareholders.

Seacoast, which boasts around $15.7 billion in assets and $12.6 billion in deposits as of March 31, 2025, operates over 79 branches throughout Florida. The bank, which has raised its dividend for four consecutive years and maintains a 2.8% dividend yield, offers a suite of financial services including commercial and consumer banking, wealth management, and mortgage services, accessible via traditional branches and digital platforms. According to InvestingPro, the company currently trades below its Fair Value, with two analysts recently revising their earnings estimates upward for the upcoming period.

The acquisition is part of Seacoast’s expansion strategy and is expected to enhance its presence and service offerings in the region. Further details on the agreement are available on the company’s website.

Investors and interested parties can access documents related to the merger, including a proxy statement and prospectus, free of charge on the SEC’s website or by contacting Seacoast’s Investor Relations.

The press release also included forward-looking statements regarding anticipated benefits and integration of the two entities. However, it cautioned that these statements are subject to numerous risks and uncertainties, and there can be no assurance that the anticipated benefits will be realized. Investors seeking deeper insights can access comprehensive analysis and additional ProTips through InvestingPro’s detailed Research Report, which provides expert analysis on SBCF and 1,400+ other US stocks.

This news article is based on a press release statement from Seacoast Banking Corporation of Florida.

In other recent news, Seacoast Banking Corporation reported its first-quarter 2025 earnings, which showed a slight miss on earnings per share (EPS), posting $0.38 compared to the expected $0.40. However, the company’s revenue exceeded expectations, reaching $140.7 million against a projection of $138.41 million. Analysts at Stephens, including Russell Guthner, adjusted Seacoast Banking’s price target to $26.00 from $28.00, while maintaining an Equal Weight rating. The bank’s core pre-provision net revenue (PPNR) of $51.3 million aligned with consensus estimates, and net interest income (NII) surpassed expectations by $0.02. Seacoast Banking’s net interest margin (NIM) increased by nine basis points to 3.48%, surpassing the consensus of 3.41%. The company also announced a pending acquisition of Heartland Bancshares, anticipated to serve as a growth catalyst in the latter half of 2025 and into 2026. This acquisition is expected to enhance Seacoast Banking’s return on assets (ROA) and other financial metrics, aligning them with industry peers. Looking ahead, Seacoast Banking projects mid to high single-digit loan growth for the second quarter and the full year 2025.

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