Press Release May 11, 2022

Seacoast to Acquire Drummond Banking Company

Alston & Bird client Seacoast Banking Corporation of Florida, holding company for Seacoast National Bank, has announced a definitive agreement to acquire Drummond Banking Company, parent company of Drummond Community Bank, for $173.2 million.
The acquisition is expected to close early in the fourth quarter of 2022, following receipt of approvals from regulatory authorities, the approval of Drummond shareholders, and the satisfaction of other customary closing conditions.
Advising Seacoast on the deal is an Alston & Bird team led by partners Randy Moore, Cliff Stanford, and Blake Estes, counsel Brendan Clegg and Caroline Eisner, senior associate John Gerl, associate Nathan Tyre, and project attorney Sarah McElroy (Financial Services & Products); partner Brian Harvel and senior associate Andrew Claytor (Federal & International Tax); partners Mike Stevens and Kyle Woods (Employee Benefits & Executive Compensation); partner Chris Marquardt (Labor & Employment); counsel Sean Hyatt and Tejas Patel (Litigation & Trial Practice); and senior associate Jake Kaplan (Wealth Planning).
Media Contact
Alex Wolfe
Communications Director

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