Company with California ties buys $275 million-asset area bank

Majority share of Florida Bancshares and First National Bank of Pasco acquired by newly formed company with California address.

By Louis Llovio
| 11:25 a.m. January 11, 2022
| 0 Free Articles Remaining!

COURTESY: (L) Fadi Cheikha president of Aiden Florida Bancshares (R)Steven D. Hickman, president and CEO of First National Bank of Pasco and Florida Bancshares

Tampa Bay-Lakeland

PASCO COUNTY — A company with ties to a payment processing business in California has entered into an agreement to buy a majority interest in Florida Bancshares Inc. and First National Bank of Pasco.

The company is called Aiden Florida Bancshares. According to a filing with the Florida Division of Corporations its address in Rancho Santa Margarita, California matches that of payment processor US Alliance Group. A press release announcing the sale quotes Fadi Cheikha and refers to him as president of Aiden. Cheikha is the founder and CEO of US Alliance Group.