Seacoast Bank continues shopping spree, snapping up Tampa bank

Seacoast Bank’s ad at Roger Dean Stadium in Jupiter. (Jeff Ostrowski/The Palm Beach Post)

Less than a year ago, an investor in venerable Seacoast Banking Corp. of Florida was pushing for a sale of the Stuart-based company. Instead, Seacoast Banking Corp. has launched a buying spree of its own.

In the latest deal, Seacoast (Nasdaq: SBCF) said Thursday it will pay $32.1 million for NorthStar Banking Corp. of Tampa. NorthStar has deposits of $168 million and loans totaling $137 million.

Seacoast last month completed its acquisition of GulfShore Bank in Tampa. And this month, Seacoast said it would buy Palm Beach Community Bank of West Palm Beach.

Seacoast has $4.8 billion in assets, and the two latest deals would push it past $5 billion. The family-run bank is part of a rare breed: It has operated with the same FDIC certificate number since the Great Depression.

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