05:15 PM EDT, 05/29/2025 (MT Newswires) -- Seacoast Banking of Florida (SBCF) agreed to acquire Villages Bancorporation, the parent of Citizens First Bank, for $710.8 million in cash and stock.

Under the terms of the deal, each share of Villages Bancorporation common stock will be converted at closing into the right to get $1,000 in cash, 38.5000 shares of Seacoast common stock or a combination of 25% cash and 75% stock, at the shareholders' election.

The deal is expected to close in Q4, Seacoast said Thursday in a statement.

Seacoast shares rose 2% in after-hours trading.