One of the region’s largest community banks sold in $295M deal

NAPLES — One of the largest community banks in the region, Naples-based First Florida Integrity Bank, has been sold.

Dallas-based First Foundation Inc., a publicly traded financial services company with two wholly-owned operating subsidiaries, First Foundation Advisors and First Foundation Bank, acquired TGR Financial Inc., First Florida’s holding company. TGR Financial will merge into First Foundation in an all-stock transaction valued at approximately $295 million, or $15.23 per TGR Financial share based on the closing price of First Foundation’s common stock on May 28, according to a statement.