Seacoast to Acquire Professional Bank in Deal Valued at $488 Million

Seacoast Bank Corporation of Florida is set to acquire Professional Bank, one of South Florida’s largest community banks to close in the first quarter of 2023. Professional Holding Corporation is the parent company of the Coral Gables-based Professional Bank. Professional Bank holds nine locations across Miami-Dade, Broward, and Palm Beach counties. Both banks have similar cultures and shared business values related to underwriting, credit culture, and customer-focus. Seacoast Bank maintains $10.8 billion in assets and $9.2 billion in deposits as of June 30, making Seacoast the largest community bank in South Florida. The acquisition of Professional Bank will accelerate their growth as they expand in the South Florida market.

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