Five months after closing the acquisition, Bank of Florida Corp. in Naples has completed the integration and rebranding of Old Florida Bank of Fort Myers.
Bank of Florida finalized the $83 million cash-and-stock purchase of the $324 million-asset Old Florida in April. The transaction, announced in April of last year, increased Bank of Florida's asset size to $1.3 billion and its branch total to 14.
"After much due diligence, exchange of best practices, and preparation, we are glad to have this final phase of the merger complete," Michael L. McMullan, Bank of Florida's president and chief executive officer, said Monday in a press release. "There is tremendous opportunity to continue building our franchise with our unique blend of services that target businesses, professionals, and successful individuals."
Bank of Florida said it now has the eighth-largest deposit share in southwest Florida.
