Seacoast Banking’s $110 Million Acquisition of Legacy Bank of Florida

Alston & Bird LLP advised Seacoast Banking Corporation of Florida on the deal.

Seacoast Banking Corporation of Florida, the holding company for Seacoast National Bank, has announced a definitive agreement to acquire Legacy Bank of Florida in a transaction valued at approximately $110 million.

Headquartered in Stuart, FL, Seacoast is one of the state’s largest community banks, with more than 50 branches and approximately $8 billion in assets and $7 billion in deposits.

When completed, the acquisition will expand Seacoast’s presence in Broward and Palm Beach counties, Florida’s largest metropolitan statistical area. It will add five full-service branches and increase the bank’s deposits by more than 40 percent, to approximately $1.4 billion.

Advising Seacoast on the deal is an Alston & Bird team led by partners Randy Moore (Picture) and Cliff Stanford, senior associate John Gerl, associate James Alexander, and senior attorney Sarah McElroy (Financial Services & Products); partner Brian Harvel (Federal & International Tax); partner Mike Stevens (Employee Benefits & Executive Compensation); and partner Chris Marquardt (Labor & Employment).

 

Involved fees earner: James Alexander Jr – Alston & Bird LLP; John Gerl – Alston & Bird LLP; Brian Harvel – Alston & Bird LLP; Christopher Marquardt – Alston & Bird LLP; Sarah McElroy – Alston & Bird LLP; Randolph Moore III – Alston & Bird LLP; Clifford Stanford – Alston & Bird LLP; Michael Stevens – Alston & Bird LLP;

Law Firms: Alston & Bird LLP;

Clients: Seacoast Banking Corporation of Florida;

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Martina Bellini

Author: Martina Bellini