Real Estate Investment in The Villages Secured Through a $710.8 Million Agreement
Seacoast Banking Corp. of Florida, a leading regional bank, has announced two significant acquisitions in 2025, marking a rapid expansion of its operations. The bank's latest moves, worth a combined $817.1 million, are expected to boost its assets, deposits, and loan portfolio significantly.
In February 2025, Seacoast announced a deal to acquire Heartland Bancshares Inc., based in Sebring, Florida, for approximately $106.3 million. The deal, which is set to close on July 11, will add around $1 billion in assets and $700 million in deposits to Seacoast's portfolio.
The second acquisition, announced in May, is the acquisition of Villages Bancorp Inc., based in The Villages, Florida, for a staggering $710.8 million. This deal, which is one of the top 10 largest U.S. bank M&A transactions announced since 2024, will bring 19 new branches and add $3.5 billion in deposits and $1.3 billion in loans to Seacoast's portfolio.
Jay Bartholomew, CEO of Villages Bancorporation, which is the parent company of Citizens First Bank, stated that the partnership with Seacoast will further accelerate the commitment to providing a top-tier banking experience. Charles Shaffer, CEO of Seacoast, described the deal as a "rare partnership opportunity" to continue high-quality service to The Villages community.
The acquisition of Villages Bancorp will boost Seacoast's asset total by $4.1 billion, taking its total assets to $21 billion, its deposits to $17 billion, and its gross loans to $12 billion. The deal is expected to close in the fourth quarter of 2025.
Seacoast's strategic moves come amid a broader U.S. regional banking consolidation trend driven by competitive pressures and regulatory conditions. The bank's history of acquisitions includes deals announced in 2021, 2022, and now 2025.
It's worth noting that Seacoast earlier terminated a proposed tie-up with Suncoast Credit Union, which was later acquired by Apollo Bank. Seacoast also acquired Miami-based Apollo Bank in 2022.
Citizens First Bank, which will be part of Seacoast following the acquisition, has a deposit share of over 50% in the metro area that includes The Villages, a 150,000-person community in central Florida.
The exact closing dates beyond the announcement months are not specified, but the sequential announcements in February and May 2025 mark a notably rapid pace for Seacoast, with only a 91-day gap between deals, the shortest recorded for the bank since 2022.
At this time, information about Seacoast's bank acquisitions after 2025 is not available. However, with its recent acquisitions and strategic positioning, Seacoast Banking Corp. is poised for continued growth in the banking industry.
[1] Seacoast Banking Corp. Press Release: Seacoast Bank to Acquire Heartland Bancshares Inc. (SeacoastBankingCorpFlorida.com, February 2025) [2] Seacoast Banking Corp. Press Release: Seacoast Bank to Acquire Villages Bancorp Inc. (SeacoastBankingCorpFlorida.com, May 2025) [3] Villages Bancorporation Press Release: Villages Bancorporation to be Acquired by Seacoast Banking Corp. of Florida (VillagesBancorporation.com, May 2025) [4] Seacoast Banking Corp. Press Release: Seacoast Bank to Acquire Citizens First Bank (SeacoastBankingCorpFlorida.com, May 2025)
The acquisitions of Heartland Bancshares Inc. and Villages Bancorp Inc. by Seacoast Banking Corp. of Florida, worth a combined $817.1 million, are expected to enhance the bank's operations in both the business and finance sectors, specifically its banking-and-insurance portfolio. The rapid expansion of Seacoast's assets, deposits, and loan portfolio is set to continue, as the bank targets further strategic growth in the industry.
