Provident Financial Group Inc. said it has completed its acquisition of Florida Gulfcoast Bancorp, the parent company of Enterprise National Bank.
Enterprise operates three branches in Sarasota County, Fla., and has $168 million of assets.
Provident issued approximately 713,000 shares of common stock to Florida Gulfcoast shareholders.
The acquisition of Florida Gulfcoast follows another Provident acquisition, of South Hillsborough Community Bank. Located about 20 miles south of Tampa, South Hillsborough Community Bank has $55 million of assets and three branches in southeast Hillsborough County.
Provident now has six Florida branches with $188 million of deposits. Provident also has $190 million of deposits from Florida residents who are serviced through Provident's TeleBank, for a total deposit base in Florida of $378 million.
In June, South Hillsborough Community Bank was renamed Provident Bank of Florida. Provident said Florida Gulfcoast and Enterprise National will be merged with Provident Bank of Florida during the fourth quarter.
Provident has $7 billion of assets.