Sunshine Bancorp (SBCP) Completes FBC Bancorp Acquisition
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Sunshine Bancorp, Inc. (Nasdaq: SBCP) announced the completion of the acquisition of FBC Bancorp, Inc. and its Florida Bank of Commerce subsidiary. This merger places Sunshine Bank as one of the top community banks in deposit market share in all of Central Florida.
“We are pleased to welcome the Florida Bank of Commerce team to the Sunshine family,” Andrew S. Samuel, President and Chief Executive Officer of Sunshine, said. “The financial institutions share a similar culture and banking philosophy with high performance, high service standards, and a strong commitment to the community. Our customers will continue banking with many of the same faces and benefit from an expanded suite of products and services with greater lending capacity.”
The transaction was announced on May 10, 2016, and all required regulatory and shareholder approvals were received by the middle of October 2016.
As a result of the merger, Sunshine’s network will include 18 banking facilities operating under the Sunshine Bank name in Brevard, Hillsborough, Manatee, Orange, Osceola, Pasco, Polk, Sarasota, and Seminole Counties.
Conversion of the core banking systems is scheduled for the weekend of December 3rd.
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