First Green Bank has been purchased by Seacoast Banking Co.

0

According to a message released to customers of First Green Bank (Website) late yesterday afternoon, Orlando-based First Green Bancorp, Inc. has been purchased by Seacoast Banking Corporation of Florida.

Seacoast Banking Corporation is the holding company of Seacoast National Bank, which is operated out of Stuart, Florida. The merger is expected to increase Seacoast’s deposits in Orlando by 49 percent to roughly $1,420 million.

According to the statement released by the bank, the transaction is expected to close by the fourth quarter of 2018, if granted approval by shareholders; who will be receiving 0.7324 shares of Seacoast common stock for each First Green common stock.

 

Have something to say? Type it below. Holding back can give you pimples.

This site uses Akismet to reduce spam. Learn how your comment data is processed.