Florida Bank Group Inc. in Tampa announced Thursday that it has a deal to buy Bank of Tallahassee for a combination of cash and stock, though it did not disclose the price.
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The $500 million-asset Florida Bank Group is a two-bank holding company with banks in the Tampa Bay and Jacksonville markets. Bank of Tallahassee, founded in 2001, has $81 million of assets and three branches in Florida's capital.
Bank of Tallahassee would retain its name, charter, board of directors, and management team. Florida Bank Group said the deal would close within 30 days of its receiving necessary approvals.
