Seacoast Banking Corporation of Florida announced today the completion of its acquisition of Villages Bancorporation, Inc. (VBI), the parent company of Citizens First Bank, with the merger becoming effective on October 1, 2025. The transaction was valued at approximately $829 million, with each share of VBI common stock converted into a choice of $1,000 cash, 38.5 shares of Seacoast common stock, or a 25‑75% cash‑stock mix, subject to a proration mechanism for large shareholders.
The acquisition adds 19 branches located throughout the Wildwood‑The Villages MSA, bringing in roughly $3.5 billion of deposits and $1.3 billion of net loans as of June 30, 2025. Citizens First Bank already held a leading deposit market share of over 50% in the area, and the combined entity will now serve a community of about 150,000 residents in a high‑growth planned community with 97% occupancy across 60,000 acres.
Strategically, the deal expands Seacoast’s presence into a rapidly growing market, strengthens its low‑cost deposit franchise, and enhances its loan portfolio with a sizable, high‑quality asset base. The transaction is expected to accelerate the bank’s growth trajectory, improve its net interest margin, and provide additional scale for future regional expansion.
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