The law firm of Gunster, with 12 offices located throughout Florida, acted as legal counsel for Floridian Financial Group Inc. in its recently announced merger with Seacoast Banking Corporation of Florida.
Seacoast will be acquiring Floridian for approximately $76.5 million.
This will be Seacoast’s third acquisition in the Orlando area and follows the October 2015 announcement that Seacoast will be acquiring BMO Harris Bank branches in Orlando.
Floridian Bank, headquartered in Lake Mary, has nearly 5,500 customers and currently operates 10 branches in Orlando and Daytona Beach. It will add approximately $426 million in assets, $361 million in deposits, and $289 million in gross loans to Seacoast, based in Stuart.
The deal is expected to close in the first quarter of 2016, subject to regulatory and shareholder approvals.
This transaction marks another successful bank merger signing in Florida this year for the West Palm Beach-based Gunster.
Gunster’s deal team
|Gregory K. Bader, practice leader||David C. Scileppi||Thomas A. Hickey||James B. Davis||Gustav L. Schmidt||Frederick Brackin|
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Read more about the Seacoast/Floridian merger:
- Seacoast to acquire Lake Mary-based bank for $76.5M (Orlando Sentinel, 11/3/15)
- Seacoast to acquire Lake Mary’s Floridian Financial Group (Orlando Business Journal, 11/3/15)
- Seacoast Banking Corporation of Florida to acquire Floridian Financial Group Inc. (press release, PR Newswire, 11/3/15)
Seacoast Banking Corporation of Florida is the holding company for Seacoast National Bank.
Floridian Financial Group Inc. is the parent company of Floridian Bank.
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This publication is for general information only. It is not legal advice, and legal counsel should be contacted before any action is taken that might be influenced by this publication.
Gunster, Florida’s law firm for business, provides full-service legal counsel to leading organizations and individuals from its 12 offices statewide. Established in 1925, the firm has expanded, diversified and evolved, but always with a singular focus: Florida and its clients’ stake in it. A magnet for business-savvy attorneys who embrace collaboration for the greatest advantage of clients, Gunster’s growth has not been at the expense of personalized service but because of it. The firm serves clients from its offices in Boca Raton, Fort Lauderdale, Jacksonville, Miami, Orlando, Palm Beach, Stuart, Tallahassee, Tampa, The Florida Keys, Vero Beach, and its headquarters in West Palm Beach. With nearly 200 attorneys and 200 committed support staff, Gunster is ranked among the National Law Journal’s list of the 500 largest law firms and has been recognized as one of the Top 100 Diverse Law Firms by Law360. More information about its practice areas, offices and insider’s view newsletters is available at www.gunster.com.