Seacoast to acquire Heartland Bancshares; $147.10 cash or 4.9164 shares per share
On February 27, 2025, Seacoast Banking Corporation of Florida agreed to acquire Heartland Bancshares, Inc. through a merger, with Heartland National Bank merging into Seacoast National Bank. Heartland shareholders may receive $147.10 in cash, 4.9164 Seacoast shares, or a 50-50 mix per share, subject to a price collar and closing conditions, including Heartland shareholder approval and regulatory consents. The deal would issue new Seacoast common stock, so it matters to Seacoast shareholders as well as Heartland holders.
Key points
- Merger agreement dated February 27, 2025, with Heartland Bancshares, Inc. and Heartland National Bank.
- Heartland shareholders can elect $147.10 in cash or 4.9164 Seacoast shares per share, or a 50-50 mix; the stock portion is subject to a price collar based on a ten-day average closing price.
- Seacoast may terminate if its ten-day VWAP is $23.94 or less and Heartland does not elect to fix the exchange ratio at 5.2237; Heartland would pay a $4.50 million termination fee in certain circumstances.
The filing
Written by AI on Nov 8, 2026, 1:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 05, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.