Seacoast’s Acquisition of Drummond Banking Company

Alston & Bird advised Seacoast Banking Corporation of Florida on the deal.

Seacoast Banking Corporation of Florida, holding company for Seacoast National Bank, has announced a definitive agreement to acquire Drummond Banking Company, parent company of Drummond Community Bank, for $173.2 million.

The acquisition is expected to close early in the fourth quarter of 2022, following receipt of approvals from regulatory authorities, the approval of Drummond shareholders, and the satisfaction of other customary closing conditions.
 
Advising Seacoast on the deal is an Alston & Bird team led by partners Randy Moore (Picture), Cliff Stanford, and Blake Estes, counsel Brendan Clegg and Caroline Eisner, senior associate John Gerl, associate Nathan Tyre, and project attorney Sarah McElroy (Financial Services & Products); partner Brian Harvel and senior associate Andrew Claytor (Federal & International Tax); partners Mike Stevens and Kyle Woods (Employee Benefits & Executive Compensation); partner Chris Marquardt (Labor & Employment); counsel Sean Hyatt and Tejas Patel (Litigation & Trial Practice); and senior associate Jake Kaplan (Wealth Planning).

Involved fees earner: Andrew Claytor – Alston & Bird LLP; Caroline Eisner – Alston & Bird LLP; Blake Estes – Alston & Bird LLP; John Gerl – Alston & Bird LLP; Brian Harvel – Alston & Bird LLP; Sean Hyatt – Alston & Bird LLP; Jacob Kaplan – Alston & Bird LLP; Christopher Marquardt – Alston & Bird LLP; Sarah McElroy – Alston & Bird LLP; Randolph Moore III – Alston & Bird LLP; Tejas Patel – Alston & Bird LLP; Clifford Stanford – Alston & Bird LLP; Michael Stevens – Alston & Bird LLP; Nathan Tyre – Alston & Bird LLP; Kyle Woods – Alston & Bird LLP;

Law Firms: Alston & Bird LLP;

Clients: Seacoast Banking Corporation of Florida;

Martina Bellini

Author: Martina Bellini