M&A Deal Summary

Seacoast Bank Acquires Professional Bank

On August 8, 2022, Seacoast Bank acquired financial services company Professional Bank for 489M USD

Acquisition Highlights
  • This is Seacoast Bank’s 13th transaction in the Financial Services sector.
  • This is Seacoast Bank’s largest (disclosed) transaction.
  • This is Seacoast Bank’s 15th transaction in the United States.
  • This is Seacoast Bank’s 14th transaction in Florida.

M&A Deal Summary
Date 2022-08-08
Target Professional Bank
Sector Financial Services
Buyer(s) Seacoast Bank
Deal Type Add-on Acquisition
Deal Value 489M USD
Advisor(s) Stephens (Financial)
Gunster, Yoakley & Stewart (Legal)

Target

Professional Bank

Coral Gables, Florida, United States
Professional Bank is a financial holding company designed for the business challenges faced by professionals and entrepreneurs, and its bankers are business-savvy and bring originality to problem-solving all with high-touch personal service. The company's lending products comprise commercial loans, residential mortgage loans, home equity lines of credit, installment loans, and consumer lines of credit. Professional Bank was founded in 2008 and is based in Coral Gables, Florida.

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Buyer(S) 1

Buyer

Seacoast Bank

Stuart, Florida, United States
Category Company
Founded 1926
Sector Financial Services
Employees1,445
Revenue 567M USD (2023)
DESCRIPTION

Seacoast Bank is a provider of financial services including commercial and retail banking, wealth management, and mortgage services to customers through 34 traditional branches of its locally-branded wholly-owned subsidiary bank, Seacoast National Bank, and five Accelerate offices fueled by the power of Seacoast National Bank. Seacoast Bank was founded in 1926 and is based in Stuart, Florida.

DEAL STATS #
Overall 15 of 15
Sector (Financial Services) 13 of 13
Type (Add-on Acquisition) 13 of 13
State (Florida) 14 of 14
Country (United States) 15 of 15
Year (2022) 3 of 3
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-04 Drummond Community Bank

Chiefland, Florida, United States

Drummond Community Bank is a provider of financial service, operates through18 branches across North Florida with deposits of approximately $932 million and loans of $543 million as of March 31, 2022. Drummond Community Bank is based in Chiefland, Florida.

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