East coast bank continues to go big as it grows westward

In era of aggressive consolidation in Florida’s banking industry, Stuart-based Seacoast Bank, with more than $10.8 billion in total assets, has been one of the most active players. Five years ago, it entered the Tampa Bay region with the acquisition of Gulfshore Bank and Northstar Bank, the later in a deal valued at over $30 million. More recently, it extended its reach northward with the buyout of Chiefland-based Drummond Bank and southward with the $53.9 million purchase of Sabal Palm Bank in Sarasota. Seacoast also has a presence in Naples.