Seacoast Banking Corporation of Florida completed the acquisition of Drummond Banking Company for $173m.

Seacoast Banking Corporation of Florida, the holding company for Seacoast National Bank, completed the acquisition of Drummond Banking Company, parent company of Drummond Community Bank based in Chiefland, FL, for $173m. "Drummond Community Bank has an outstanding reputation for exceptional service and strong financial performance, with a deep commitment to the communities it serves for the last 32 years. We see great opportunity in complementing its strengths with Seacoast’s innovation and breadth of offerings to grow our presence and expand our position in the state. The transaction is expected to be significantly accretive to earnings in 2023 with modest dilution of tangible book value. We look forward to welcoming Drummond’s employees and customers to the Seacoast franchise," Charles M. Shaffer, Seacoast Chairman and CEO.