Seacoast Commerce Banc Holdings (OTC Pink: SCBH), the parent company of Seacoast Commerce Bank, and Capital Bank (OTCQB: CBJC) jointly announced the signing of a definitive agreement in which Capital will merge with and into Seacoast in a transaction valued at $60 million or $32.00 per share.
D.A. Davidson & Co. advised Capital Bank in the transaction and issued a fairness opinion.
The transaction is the 79th publicly announced M&A advisory transaction for the D.A. Davidson Financial Institutions Group since 2011. D.A. Davidson ranks as the 5th most active M&A advisor for banks in the United States since the beginning of 2016 with 16 announced transactions and $1.4 billion in deal value, according to S&P Global.
Full details are in the press release here.