Seacoast Banking Corp. of Florida in Stuart has agreed to buy Villages Bancorp. in The Villages, Florida. The $15.7 billion-asset Seacoast said in a news release that it will pay $710.8 million in cash and stock for the $4.1 billion-asset Villages. The deal, which is expected to close in the fourth quarter, priced Villages at 161% of its tangible book value.
Farmers State Bank of Oakley, Kansas, has applied to buy Kaw Valley State Bank in Eudora, Kansas. The $300.8 million-asset Farmers State applied with the FDIC on May 30 to buy the $73 million-asset Kaw Valley. The price hasn’t been disclosed. The deal is expected to close in the next three or four months.
Southern Bancorp in Little Rock, Arkansas, has agreed to buy Ozarks Heritage Financial in Springfield, Missouri, in a deal that would combine community development financial institutions. The $2.8 billion-asset Southern Bancorp said in a news release that it plans to acquire the parent of the $1.9 billion-asset Legacy Bank and Trust in the fourth quarter. The price wasn’t disclosed.
M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.
