Buckley Sandler Client Hometown of Homestead Banking Company Announces Agreement to Merge With and Into Center State Banks, Inc.
Buckley Sandler client Hometown of Homestead Banking Company (“Homestead”), the parent company of 1st National Bank of South Florida, announced on October 27, 2015 that it will merge with and into CenterState Banks, Inc. for cash consideration of $19.1 million.
1st National Bank of South Florida has six banking locations in the Miami-Fort Lauderdale-West Palm Beach market. As of June 30, 2015, it had assets of $346 million, loans of $204 million and deposits of $283 million.
Buckley Sandler attorney Noel Gruber advised Homestead throughout the merger process. He has represented parties in more than 80 bank mergers nationally.