New coast

Stuart-based Seacoast Bank first expanded its reach from Florida's east coast when it acquired BankFirst, BMO Harris and Floridian Bank in the Orlando area in recent years. After the success of those moves, a logical next step was the Tampa market, and Seacoast found an ideal entry point this past fall with its planned acquisition of GulfShore Bank.

“The growth and diversity of business in the Tampa region is just tremendous, and we think it's a good fit for who we are,” says Seacoast Chairman and CEO Dennis Hudson.

What proved particularly appealing about GulfShore Bank was its management team and the reputation it had developed. “It's a great group of people who have been serving that market for a number of years and built a very strong small organization,” says Hudson. “They have a demonstrated track record of being able to grow in a really nice, conservative way in that market, and we think with the added capital strength of combining with Seacoast we will be able to continue that process as things move forward.”