[8-K] SEACOAST BANKING CORP OF FLORIDA Reports Material Event
Seacoast Banking Corporation of Florida completed its merger with Villages Bancorporation, Inc., parent of Citizens First Bank, effective October 1, 2025. The transaction’s final consideration was approximately $829 million.
Under the terms, each VBI share converted into the right to receive either $1,000.00 in cash, 38.5000 shares of Seacoast common stock, or a mix, with a proration so that 25% of shares received cash and 75% received stock. If any holder would have exceeded 9.75% of cumulative outstanding Seacoast common stock, Seacoast issued non‑voting convertible preferred in lieu of the excess common.
To support this, Seacoast created Series A Non‑Voting Preferred Stock via a Certificate of Designations, fixing the authorized number at 11,250 shares. Seacoast National Bank and The Villages amended and restated a Developer Support Agreement that restricts new town center bank branch space to Citizens First Bank or SNB. Audited VBI financials and unaudited pro forma combined information were included as exhibits.
Seacoast Banking Corporation of Florida ha completato la fusione con Villages Bancorporation, Inc., società madre di Citizens First Bank, con effetto a partire dal 1 ottobre 2025. L'importo finale della transazione è stato di circa $829 milioni.
Secondo i termini, ogni titolo VBI si convertiva nel diritto di ricevere $1.000,00 in contanti, 38.5000 azioni ordinarie di Seacoast, o una combinazione, con un rapporto pro rata in modo che il 25% delle azioni ricevute fosse in contanti e il 75% fosse in azioni. Se un detentore avrebbe superato 9,75% delle azioni ordinarie complessive di Seacoast, Seacoast emetteva azioni privilegiate convertibili prive di diritto di voto al posto dell'eccesso di azioni comuni.
Per supportare ciò, Seacoast ha creato Azioni Preferenziali Non-Voto di Serie A mediante un Certificato di Designazioni, fissando il numero autorizzato a 11.250 azioni. Seacoast National Bank e The Villages hanno modificato e riformulato un Accordo di Supporto allo Sviluppatore che limita lo spazio delle nuove filiali bancarie del centro cittadino a Citizens First Bank o SNB. I bilanci auditati di VBI e le informazioni pro forma combinate non auditato sono stati inclusi come allegati.
Seacoast Banking Corporation of Florida completó su fusión con Villages Bancorporation, Inc., la empresa matriz de Citizens First Bank, con efecto a partir del 1 de octubre de 2025. El importe final de la operación fue de aproximadamente $829 millones.
Según los términos, cada acción de VBI se convirtió en el derecho a recibir ya sea $1,000.00 en efectivo, 38.5000 acciones ordinarias de Seacoast, o una mezcla, con una prorrata de modo que el 25% de las acciones recibidas fueran en efectivo y el 75% en acciones. Si algún titular hubiera superado 9.75% de las acciones ordinarias totales en circulación de Seacoast, Seacoast emitía preferred convertibles sin derecho de voto en lugar del exceso de acciones ordinarias.
Para respaldar esto, Seacoast creó Acciones Preferentes Sin Derecho de Voto de Serie A mediante un Certificado de Designaciones, fijando el número autorizado en 11,250 acciones. Seacoast National Bank y The Villages enmendaron y reformularon un Acuerdo de Apoyo al Desarrollador que restringe el espacio de nuevas sucursales bancarias del centro urbano a Citizens First Bank o SNB. Se incluyeron estados financieros auditados de VBI y información pro forma consolidada no auditada como anexos.
Seacoast Banking Corporation of Florida는 Citizens First Bank의 모회사인 Villages Bancorporation, Inc.와의 합병을 완료했고, 이는 2025년 10월 1일부터 발효됩니다. 거래의 최종 대금은 대략 $829 백만이었습니다.
약정에 따라 각 VBI 주주는 $1,000.00 현금, 38.5000주의 Seacoast 보통주 또는 혼합 중 하나를 받을 권리가 있으며, 비례 배분에 따라 받은 주식의 25%은 현금으로, 75%는 주식으로 받게 됩니다. 어떤 보유자가 Seacoast의 누적 발행 보통주식의 9.75%를 초과하게 되면, 초과하는 보통주 대신 의결권이 없는 전환 우선주가 발행됩니다.
이를 지원하기 위해 Seacoast는 시리즈 A 비의결 우선주를 설계 증서를 통해 만들어 권한 수를 11,250주로 고정했습니다. Seacoast National Bank와 The Villages는 Developer Support Agreement를 수정·재작성하여 신도심 은행 지점 공간이 Citizens First Bank 또는 SNB에만 제한되도록 했습니다. 감사합니다 VBI 재무 및 감사되지 않은 합산 정보가 부속 문서로 포함되었습니다.
Seacoast Banking Corporation of Florida a complété sa fusion avec Villages Bancorporation, Inc., la société mère de Citizens First Bank, à compter du 1er octobre 2025. Le prix final de la transaction s’élevait à environ $829 millions.
Sous les termes, chaque action VBI se convertissait en le droit de recevoir soit $1 000,00 en espèces, 38 5000 actions ordinaires de Seacoast, ou un mélange, avec une répartition au prorata faisant que 25% des actions reçues soient en espèces et 75% en actions. Si un détenteur dépassait 9,75% des actions ordinaires totales en circulation de Seacoast, Seacoast émettait des actions privilégiées convertibles sans droit de vote à la place de l’excès d’actions ordinaires.
Pour soutenir cela, Seacoast a créé des Actions privilégiées sans droit de vote de série A via un Certificat de Désignation, en fixant le nombre autorisé à 11 250 actions. Seacoast National Bank et The Villages ont modifié et révisé un Developer Support Agreement qui limite l’espace des nouvelles agences bancaires du centre-ville à Citizens First Bank ou SNB. Les états financiers audités de VBI et les informations pro forma consolidées non auditées ont été inclus en tant qu’exhibits.
Seacoast Banking Corporation of Florida hat die Fusion mit Villages Bancorporation, Inc., der Muttergesellschaft von Citizens First Bank, zum 1. Oktober 2025 abgeschlossen. Die endgültige Gegenleistung der Transaktion betrug etwa $829 Millionen.
Nach den Bedingungen wandelte sich jede VBI-Aktie in das Recht um, entweder $1.000,00 in bar, 38.5000 Aktien von Seacoast- Stammaktien zu erhalten, oder eine Mischung, mit einer proportionalen Aufteilung, so dass 25% der erhaltenen Aktien bar und 75% in Aktien empfangen wurden. Falls ein Inhaber 9,75% der kumulativ ausstehende Seacoast-Stammaktien überschreiten würde, emittierte Seacoast statt der überschüssigen Stammaktien nicht stimmberechtigte wandelbare Vorzugsaktien.
Um dies zu unterstützen, schuf Seacoast mittels eines Certificate of Designations Series A Non-Voting Preferred Stock und legte die autorisierte Stückzahl auf 11.250 Aktien fest. Die Seacoast National Bank und The Villages haben ein Developer Support Agreement geändert und neu formuliert, das neue Filialflächen im Stadtzentrum auf Citizens First Bank oder SNB beschränkt. Geprüfte VBI-Finanzen und nicht geprüfte pro forma Konsolidierungsinformationen wurden als Anhänge aufgenommen.
Seacoast Banking Corporation of Florida أتمت اندماجها مع Villages Bancorporation, Inc.، الشركة الأم لـ Citizens First Bank، اعتباراً من 1 أكتوبر 2025. وكانت التسوية النهائية للصفقة حوالى $829 مليون.
وفقاً للشروط، كل سهم من VBI يحول إلى حق الحصول على إما $1,000.00 نقداً، 38.5000 سهماً من أسهم Seacoast العادية، أو مزيج، مع قِسم تناسبي بحيث تكون 25% من الأسهم المستلمة نقداً و75% أسهم.
إذا تجاوز أي مالك 9.75% من إجمالي الأسهم العادية القائمة لشركة Seacoast، تصدر Seacoast أسهماً ممتازة قابلة للتحويل بلا حقوق تصويت بدل الزيادة في الأسهم العادية.
لدعم ذلك، أنشأت Seacoast أسهم التفضيل من النوع غير الصوتي من الفئة أ عبر شهادة التصميم، مثبتة العدد المصرح به عند 11,250 سهماً. عدّلت Seacoast National Bank وThe Villages وأعادتا صياغة اتفاقية دعم المطوّر التي تقيد مساحة فروع البنك في مركز المدينة إلى Citizens First Bank أو SNB. وتم تضمين البيانات المالية المدققة لـ VBI والمعلومات الموحدة بنظام pro forma غير المدققة كملاحق.
- None.
- None.
Insights
Large bank merger closed with mixed consideration and governance guardrails.
Seacoast closed the VBI/Citizens First Bank acquisition with approximately
A 9.75% ownership cap triggered non‑voting convertible preferred in lieu of common above the threshold, aligning with control and regulatory considerations. The company authorized 11,250 Series A Non‑Voting Preferred shares to operationalize this mechanism.
The amended Developer Support Agreement with The Villages limits new town center bank branch space to Citizens First Bank or SNB, potentially supporting franchise positioning in that market. Subsequent filings may provide integration details and updated financial impacts.
Seacoast Banking Corporation of Florida ha completato la fusione con Villages Bancorporation, Inc., società madre di Citizens First Bank, con effetto a partire dal 1 ottobre 2025. L'importo finale della transazione è stato di circa $829 milioni.
Secondo i termini, ogni titolo VBI si convertiva nel diritto di ricevere $1.000,00 in contanti, 38.5000 azioni ordinarie di Seacoast, o una combinazione, con un rapporto pro rata in modo che il 25% delle azioni ricevute fosse in contanti e il 75% fosse in azioni. Se un detentore avrebbe superato 9,75% delle azioni ordinarie complessive di Seacoast, Seacoast emetteva azioni privilegiate convertibili prive di diritto di voto al posto dell'eccesso di azioni comuni.
Per supportare ciò, Seacoast ha creato Azioni Preferenziali Non-Voto di Serie A mediante un Certificato di Designazioni, fissando il numero autorizzato a 11.250 azioni. Seacoast National Bank e The Villages hanno modificato e riformulato un Accordo di Supporto allo Sviluppatore che limita lo spazio delle nuove filiali bancarie del centro cittadino a Citizens First Bank o SNB. I bilanci auditati di VBI e le informazioni pro forma combinate non auditato sono stati inclusi come allegati.
Seacoast Banking Corporation of Florida completó su fusión con Villages Bancorporation, Inc., la empresa matriz de Citizens First Bank, con efecto a partir del 1 de octubre de 2025. El importe final de la operación fue de aproximadamente $829 millones.
Según los términos, cada acción de VBI se convirtió en el derecho a recibir ya sea $1,000.00 en efectivo, 38.5000 acciones ordinarias de Seacoast, o una mezcla, con una prorrata de modo que el 25% de las acciones recibidas fueran en efectivo y el 75% en acciones. Si algún titular hubiera superado 9.75% de las acciones ordinarias totales en circulación de Seacoast, Seacoast emitía preferred convertibles sin derecho de voto en lugar del exceso de acciones ordinarias.
Para respaldar esto, Seacoast creó Acciones Preferentes Sin Derecho de Voto de Serie A mediante un Certificado de Designaciones, fijando el número autorizado en 11,250 acciones. Seacoast National Bank y The Villages enmendaron y reformularon un Acuerdo de Apoyo al Desarrollador que restringe el espacio de nuevas sucursales bancarias del centro urbano a Citizens First Bank o SNB. Se incluyeron estados financieros auditados de VBI y información pro forma consolidada no auditada como anexos.
Seacoast Banking Corporation of Florida는 Citizens First Bank의 모회사인 Villages Bancorporation, Inc.와의 합병을 완료했고, 이는 2025년 10월 1일부터 발효됩니다. 거래의 최종 대금은 대략 $829 백만이었습니다.
약정에 따라 각 VBI 주주는 $1,000.00 현금, 38.5000주의 Seacoast 보통주 또는 혼합 중 하나를 받을 권리가 있으며, 비례 배분에 따라 받은 주식의 25%은 현금으로, 75%는 주식으로 받게 됩니다. 어떤 보유자가 Seacoast의 누적 발행 보통주식의 9.75%를 초과하게 되면, 초과하는 보통주 대신 의결권이 없는 전환 우선주가 발행됩니다.
이를 지원하기 위해 Seacoast는 시리즈 A 비의결 우선주를 설계 증서를 통해 만들어 권한 수를 11,250주로 고정했습니다. Seacoast National Bank와 The Villages는 Developer Support Agreement를 수정·재작성하여 신도심 은행 지점 공간이 Citizens First Bank 또는 SNB에만 제한되도록 했습니다. 감사합니다 VBI 재무 및 감사되지 않은 합산 정보가 부속 문서로 포함되었습니다.
Seacoast Banking Corporation of Florida a complété sa fusion avec Villages Bancorporation, Inc., la société mère de Citizens First Bank, à compter du 1er octobre 2025. Le prix final de la transaction s’élevait à environ $829 millions.
Sous les termes, chaque action VBI se convertissait en le droit de recevoir soit $1 000,00 en espèces, 38 5000 actions ordinaires de Seacoast, ou un mélange, avec une répartition au prorata faisant que 25% des actions reçues soient en espèces et 75% en actions. Si un détenteur dépassait 9,75% des actions ordinaires totales en circulation de Seacoast, Seacoast émettait des actions privilégiées convertibles sans droit de vote à la place de l’excès d’actions ordinaires.
Pour soutenir cela, Seacoast a créé des Actions privilégiées sans droit de vote de série A via un Certificat de Désignation, en fixant le nombre autorisé à 11 250 actions. Seacoast National Bank et The Villages ont modifié et révisé un Developer Support Agreement qui limite l’espace des nouvelles agences bancaires du centre-ville à Citizens First Bank ou SNB. Les états financiers audités de VBI et les informations pro forma consolidées non auditées ont été inclus en tant qu’exhibits.
Seacoast Banking Corporation of Florida hat die Fusion mit Villages Bancorporation, Inc., der Muttergesellschaft von Citizens First Bank, zum 1. Oktober 2025 abgeschlossen. Die endgültige Gegenleistung der Transaktion betrug etwa $829 Millionen.
Nach den Bedingungen wandelte sich jede VBI-Aktie in das Recht um, entweder $1.000,00 in bar, 38.5000 Aktien von Seacoast- Stammaktien zu erhalten, oder eine Mischung, mit einer proportionalen Aufteilung, so dass 25% der erhaltenen Aktien bar und 75% in Aktien empfangen wurden. Falls ein Inhaber 9,75% der kumulativ ausstehende Seacoast-Stammaktien überschreiten würde, emittierte Seacoast statt der überschüssigen Stammaktien nicht stimmberechtigte wandelbare Vorzugsaktien.
Um dies zu unterstützen, schuf Seacoast mittels eines Certificate of Designations Series A Non-Voting Preferred Stock und legte die autorisierte Stückzahl auf 11.250 Aktien fest. Die Seacoast National Bank und The Villages haben ein Developer Support Agreement geändert und neu formuliert, das neue Filialflächen im Stadtzentrum auf Citizens First Bank oder SNB beschränkt. Geprüfte VBI-Finanzen und nicht geprüfte pro forma Konsolidierungsinformationen wurden als Anhänge aufgenommen.
FAQ
What did SBCF announce in this 8-K?
What was the total consideration for the VBI merger?
What were the election options for VBI shareholders?
How does the 9.75% ownership cap work?
How many Series A Non-Voting Preferred shares were authorized?
What does the Developer Support Agreement with The Villages do?
Where can investors find financial information related to the deal?
