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Seacoast Announces the Acquisition of Heartland Bancshares, Inc.

1. Seacoast Banking acquires Heartland Bancshares to expand in Central Florida. 2. The acquisition enhances Seacoast's market presence and customer base.

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FAQ

Why Bullish?

This acquisition strengthens SBCF's market position and could drive future earnings, similar to past beneficial mergers in the banking sector.

How important is it?

The acquisition is a significant strategic move for SBCF, indicating future growth trajectories.

Why Long Term?

The integration of Heartland will take time but is likely to yield positive results, as seen in similar past acquisitions by regional banks.

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STUART, Fla.--(BUSINESS WIRE)--Seacoast Banking Corporation of Florida (“Seacoast” or the “Company”) (NASDAQ: SBCF), the holding company for Seacoast National Bank (“Seacoast Bank”), announced today that it has signed a definitive agreement to acquire Heartland Bancshares, Inc. (“Heartland”), parent company of Heartland National Bank based in Sebring, FL. The proposed transaction will expand Seacoast's presence into this key Central Florida market. Heartland operates four branches with deposits.

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