trending Market Intelligence /marketintelligence/en/news-insights/trending/3RcCyYF5dOwY_1wbXPNefQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Florida-based Beach Community Bank, First City Bank of Florida to merge

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good


Florida-based Beach Community Bank, First City Bank of Florida to merge

Fort Walton Beach, Fla.-based Beach Community Bank entered into an agreement with Florida First City Banks Inc. and unit First City Bank of Florida for the merger of First City Bank of Florida with and into Beach Community Bank.

The deal will result in a combined entity with about $675 million in assets, according to a news release.

Florida First City Banks also filed a Chapter 11 petition in the U.S. Bankruptcy Court for the Northern District of Florida. In a news release, Florida First City Banks said it will undertake the voluntary action to facilitate the transaction. Only the holding company, and not the bank's day-to-day operations, clients and depositors' insurance coverage, will be affected by the filing, Florida First City Banks said.

Beach Community Bank intends to conduct the transaction together with a capital-raising activity for the combined entity.

The transaction is expected to close early in the second quarter. The completion of the deal will see Beach Community Bank expand in Okaloosa County, Fla., by two branches to be ranked fifth with an 8.36% share of about $4.17 billion in total market deposits, according to S&P Global Market Intelligence data.

S&P Global Market Intelligence valuations for bank and thrift targets in the Southeast region between Jan. 15, 2019, and Jan. 15, 2020, averaged 158.87% of book and 166.17% of tangible book and had a median of 16.82x last-12-months earnings, on an aggregate basis.

Hovde Group LLC was financial adviser to Beach Community Bank, with Smith Mackinnon as legal counsel and Nelson Mullins as special counsel. Gerrish Smith Tuck served as financial adviser and legal counsel to Florida First City Banks and First City Bank of Florida, with Wilson Harrell serving as special counsel.

To use S&P Global Market Intelligence's branch analytics tools to compare market overlap, click here. To create custom maps, click here.

SNL Image