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A trio of mutual thrifts have filed paperwork to sell a total of $350 million in stock as part of planned conversions to stock companies.
March 13 -
Three recent deals involving midsize sellers have gone far reversing regional bankers' fears of M&A. Still, the real evidence of progress must involve seeing those deals close.
February 2 -
The Seminole Tribe of Florida has withdrawn its agreement to buy Mackinac Savings Bank in Boynton Beach, Fla., and may instead try to open a credit union.
February 2 -
Many people in Florida were sure that M&A would pass over the Sunshine State for years after the financial crisis. But a recent influx of deals suggests that Florida hasn't lost its luster.
May 19
Sunshine Bancorp in Plant City, Fla., has agreed to buy Community Southern Holdings in Lakeland, Fla.
The $222 million-asset Sunshine will pay about $30.8 million in cash for the $246 million-asset Community Southern. The deal will add $165 million in loans, $186 million in deposits and result in Sunshine having $451 million in assets and nine branches around Tampa, Fla. The transaction is expected to close in the third quarter.
Andrew Samuel, Sunshines president and chief executive, told American Banker in a recent interview that the company is
"We are delighted to add Community Southern to our banking family," Samuel said in a press release Thursday. "This transaction is consistent with our strategy for selective acquisitive growth intro attractive contiguous markets."
As part of this deal, one Community Southern director will join Sunshine's board.
Sunshine was advised by Monroe Financial Partners and Luse, Gorman, Pomerenk & Schick. Community Southern was advised by Professional Bank Services and Igler Pearlman.