Florida Bankers Association

FCB Announces Receipt of Regulatory Approvals for Floridian Community Bank Acquisition

FCB Financial Holdings, Inc. (“FCB”), the parent company for Florida Community Bank, N.A., recently announced it has received approval from both the Federal Reserve Bank of Atlanta and the Office of the Comptroller of the Currency of its applications for the previously announced acquisition of Floridian Community Holdings, Inc. (“Floridian Community”).
“We are extremely pleased to have received regulatory approvals in less than three months, and believe this reflects the quality of our team’s integration approach and the Bank’s focus on safety and soundness. The acquisition of Floridian Community will strengthen our current franchise and accelerate our retail network expansion in the key Palm Beach market,” said Kent Ellert, President and Chief Executive Officer of FCB. “We look forward to welcoming the Floridian team to the FCB family as we continue to build Florida’s leading independent bank.”
Subject to the terms of the merger agreement, Floridian Community shareholders will receive 0.4584x shares of FCB Class A common stock for each outstanding share of Floridian Community common stock, and a total of 1.75 million shares in the aggregate.
The acquisition is expected to close in March 2018, subject to the receipt of Floridian Community shareholder approval and the satisfaction of other closing conditions. The Floridian Community shareholder meeting will be held on February 20th at Floridian Community’s Delray Beach branch office in Delray Beach, Florida.
About FCB Financial Holdings, Inc.
FCB Financial Holdings, Inc. is the parent company of Florida Community Bank, N.A., the largest community banking company and the second largest Florida-based independent bank and is among the most highly capitalized banks in the state. Awarded a five-star rating from Bauer Financial™, FCB assets are more than $10 billion, with capital ratios that exceed regulatory standards. Since its founding in 2010, FCB has been steadfast in its commitment to delivering personalized service, innovation, and products and services equal to those offered by the national banks. Similarly, FCB recognizes the importance of community, fostering a corporate culture that promotes employee volunteerism at all levels, while supporting community-based programs and partnerships that help promote greater financial independence and improved quality of life for families. FCB serves individuals, businesses and communities across the state with 46 full-service banking centers from east to west, and from Daytona Beach to Miami-Dade. For more information, visit FloridaCommunityBank.com. Equal Housing Lender, Member FDIC.