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
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Read more about the Seacoast/Floridian merger:
- 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.
