SEACOAST BANKING CORP OF FLORIDA (SBCF): M&A transaction — Seacoast completes acquisition of Professional Holding; exchange ratio 0.8909, $2.2B deposits

SEACOAST BANKING CORP OF FLORIDA

Effective January 31, 2023; Professional shareholders received 0.8909 Seacoast shares per PFHD share.
Professional Bank had ~$2.2B deposits and ~$2.1B loans as of December 31, 2022.
Deal expands Seacoast's presence in South Florida; Professional was the 6th largest bank HQ'd there.
Pro forma financials and acquired business financials to be filed within 71 days via 8-K/A.

item 2.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

SEACOAST BANKING CORP OF FLORIDA completed an acquisition involving Professional Holding Corp. (closed 2023-01-31).

Action: acquisition
Counterparty: Professional Holding Corp.
Closing: 2023-01-31

Exact text from the filing

Effective January 31, 2023, Seacoast Banking Corporation of Florida (“Seacoast” or the “Company”) and Seacoast's wholly-owned subsidiary Seacoast National Bank, completed the previously announced merger (the "Merger") with Professional Holding Corp. ("Professional") (NASDAQ: PFHD), parent company of Professional Bank.

View on SEC.gov

9 m&a transactions filed in the last 30 days. Browse all m&a transactions →

SEACOAST BANKING CORP OF FLORIDA filing history →

Source: SEC EDGAR

accession 0000730708-23-000007

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