Just three weeks after its deal to be acquired by another bank fell through, Virginia Beach-based Seaboard Bancorp has agreed to be bought by neighboring Life Bancorp.

Life Bancorp, a $1.1 billion-asset thrift in Norfolk, Va., swooped in to buy the $84 million-asset thrift after it sensed that Seaboard's initial deal was having problems.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.