Earlier this year, on April 22, Harbor Community Bank, based in Indiantown, Florida, entered into an agreement to acquire nine branch offices of Popular Community Bank in and around Orlando.
According to a press release posted on MarketWatch on September 15, the sale of those bank branches has been completed.
The transaction included $104 million in loans and $217 million in deposits, as of August 31, 2014.
Gunster’s banking and financial services team represented Harbor in negotiating the acquisition.
Popular Community Bank is a subsidiary of Popular Inc., the North American operations for Banco Popular, based in Puerto Rico.
Read related news:
- Popular completes central Florida exit (Caribbean Business, 9/18/14)
- Popular Community Bank completes sale of central Florida operations (Orlando Business Journal, 9/15/14)
- Popular Community Bank completes the sale of its central Florida regional operations (The Wall Street Journal / MarketWatch, 9/15/14)
- Puerto Rico’s Popular completes sale of U.S. assets (BNamericas, 9/15/14)
- Harbor Community Bank acquires Highlands Independent Bank in central Florida (Gunster.com, Newsletters & Alerts, 6/6/14)
- Gunster attorneys assist in banking, aerospace M&A deals (Gunster.com, Newsletters & Alerts, 5/5/14)