Seacoast Banking approved for acquisition of Villages Bancorporation

Seacoast Banking (SBCF) announced that the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency have approved Seacoast’s application with respect to Seacoast’s previously announced acquisition of Villages Bancorporation, and Seacoast Bank’s application with respect to the merger of Citizens First Bank with and into Seacoast Bank. All required regulatory approvals to complete the transaction have now been received, and the transaction is expected to close on or around October 1, subject to the satisfaction of customary closing conditions, including approval of the shareholders of Villages Bancorporation.