Alston & Bird client Seacoast Banking Corporation of Florida has entered into a definitive agreement to acquire Grand Bankshares, Inc., for $16.2 million.
Listed on the Nasdaq market, Seacoast is one of Florida’s largest community banks with approximately $3.1 billion in assets and more than 40 branch locations. The acquisition of Grand Bankshares, which operates Grand Bank & Trust of Florida in West Palm Beach, will add three new branches and approximately $208 million in assets and allow Seacoast to substantially grow its customer base in one of Florida’s most important markets.
Advising Seacoast is an Alston & Bird team led by partner Randy Moore, with support from partners Mike Stevens and Blake MacKay (Employee Benefits & Executive Compensation); counsel Cliff Stanford (Bank Regulatory); senior associate Sarah McElroy and associates Will Hooper and David Park (Financial Services & Products).
Listed on the Nasdaq market, Seacoast is one of Florida’s largest community banks with approximately $3.1 billion in assets and more than 40 branch locations. The acquisition of Grand Bankshares, which operates Grand Bank & Trust of Florida in West Palm Beach, will add three new branches and approximately $208 million in assets and allow Seacoast to substantially grow its customer base in one of Florida’s most important markets.
Advising Seacoast is an Alston & Bird team led by partner Randy Moore, with support from partners Mike Stevens and Blake MacKay (Employee Benefits & Executive Compensation); counsel Cliff Stanford (Bank Regulatory); senior associate Sarah McElroy and associates Will Hooper and David Park (Financial Services & Products).