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Florida bank reaches new heights after acquisition

On Behalf of | Oct 16, 2014 | Mergers & Acquisitions

When mergers and acquisitions move forward successfully, companies are often able to experience considerable growth. On top of reaching their business goals, they can accomplish more than they ever thought was possible. However, in Fort Lauderdale and throughout the state of Florida, any business that is planning on merging with or buying a company has to make sure they take all of the various details of the transaction into account before getting started.

A Florida banking corporation recently purchased a bank that has a dozen branches in the state, which brings the number of branches it owns to 46. The corporation has assets totaling roughly $3 billion and has become the fifth largest bank in Florida as a result of the acquisition.

According to the banking corporation’s chairman and CEO, the purchase will allow the bank to serve small business clients better. Customers of the two banks were told to continue conducting business at their current banking locations until the banks are converted into one operating system in late October.

From a publicly traded merger to a small business merger or acquisition, these deals sometimes present a number of legal issues that businesses may have to deal with. As a result, it is important for companies to identify any potential problems, do everything they can to avoid setbacks and take the right course of action if any challenges arise. Whether a business wants to put their best foot forward in court or prevent legal trouble by taking the right approach from day one, consulting an experienced attorney can be very helpful.

Source: TCPalm.com, “Seacoast bank purchase makes it largest in area, fifth in Florida,” Paul Ivice, Oct. 3, 2014