Harbor Community Parent to Buy Florida Citizens Bank

HCBF Holding Co. in Fort Pierce, Fla., has agreed to buy OGS Investments in Gainesville, Fla.

HCBF, the parent of the $1.5 billion-asset Harbor Community Bank, did not disclose the price it will pay for the parent of the $230 million-asset Florida Citizens Bank. The deal is expected to close in the fourth quarter.

Florida Citizens also has seven branches in Florida's Alachua and Marion counties. Harbor has 37 branches.

HCBF was advised by FIG Partners and the law firms Gunster and Skadden, Arps, Slate, Meagher & Flom. OGS was advised by Keefe, Bruyette & Woods and Igler & Pearlman.

HCBF has recently been an aggressive acquirer in Florida. The company agreed last October to buy the $266 million-asset First American Holding in Bradenton, Fla. Recent deals have included the $250 million-asset Independent Bancshares in Sebring, Fla., and nine branches around Orlando from the $36 billion-asset Popular.