Friday, July 20, 2018
Business

After GulfShore Bank deal, Seacoast Banking adds another with deal for Tampa's NorthStar Bank

Stuart-based Seacoast Banking Corp. said Thursday that it will acquire Tampa's NorthStar Banking Corp. for $32.1 million. NorthStar has three branches in the Tampa Bay area: two in Tampa and one in Largo. A Seacoast release said NorthStar controls $168 million in deposits and $137 million in loans, which brings Seacoast's Tampa Bay assets to $554 million.

"We are executing our 'land and expand' strategy of enlarging our initial beachhead, as we did successfully in the adjacent Orlando market last year," CEO Dennis Hudson III said in a release.

NorthStar opened in Tampa in 2007. It was backed at the time by local philanthropist Dr. Kiran Patel, Obama administration Under Secretary for International Trade Frank Sanchez and prominent Tampa businessman John Sykes. It marketed itself as a cross between a regional and community bank.

This is Seacoast's second local acquisition this year. It converted three GulfShore Bank locations in April after its acquisition of GulfShore's parent company in 2016. Overall, Seacoast has about $5 billion in assets and operates 53 Florida branches.

Contact Malena Carollo at [email protected] Follow @malenacarollo.

Comments
He was fired after an encounter with a ‘racist’ customer. After sharing his story, Home Depot changed its mind.

He was fired after an encounter with a ‘racist’ customer. After sharing his story, Home Depot changed its mind.

After a man last Thursday approached the checkout at a Home Depot in Albany, New York, staff member Maurice Rucker asked him to leash his dog. That’s when the man exploded.Rucker, a 60-year-old black man, claimed he was fired Tuesday after defending ...
Updated: 1 hour ago
Open office plans are as bad as you thought

Open office plans are as bad as you thought

A cubicle-free workplace without private offices is supposed to force employees to collaborate. To have them talk more face-to-face. To get them off instant messenger and spontaneously brainstroming about new ideas.But a recent study by two researche...
Published: 07/21/18
Officials speak out against demolition plans for historic Jordan Park section

Officials speak out against demolition plans for historic Jordan Park section

ST. PETERSBURG — Pinellas County School board chair Rene Flowers was fired up Friday. She talked about growing up in Jordan Park, the city’s first public housing project and a sentimental and historic marker of St. Petersburg’s African-American commu...
Published: 07/20/18
Florida is still paying SunPass contractor, even after officials said they would stop

Florida is still paying SunPass contractor, even after officials said they would stop

Florida has not stopped paying the SunPass contractor responsible for the tolling system’s outage, even after transportation officials said the state would suspend all payments.In a letter on Monday, FDOT secretary Mike Dew said the state would not p...
Published: 07/20/18
Florida among the top 3 states with the most income inequality

Florida among the top 3 states with the most income inequality

Florida is one of three states in the nation with the biggest income gap between the very rich and everyone else.In 2015, a family in the top 1 percent nationally had an average income of more than $1.3 million — or 26.3 times as much as the $50,107 ...
Published: 07/20/18
Tampa International Airport ranked in top 10 for defense against cyber threats

Tampa International Airport ranked in top 10 for defense against cyber threats

TAMPA — Tampa International Airport was ranked this week as the 10th safest U.S. airport to go online without being hacked, but the ranking is not only about the place, but also about how savvy its travelers are.The data security firm Coronet ranked ...
Published: 07/20/18
When suicide threats come calling: ‘I try to make a connection.’

When suicide threats come calling: ‘I try to make a connection.’

TAMPA — At first glance, it’s a typical office with more than a dozen cubicles under florescent lights. The operators wear headsets and stare into computer screens, some tinkering with handheld toys, others browsing Facebook or chatting with colleagu...
Published: 07/20/18

State record of $321 million in unclaimed property back to residents and businesses

More than $321 million was returned to Florida residents and businesses from the state’s unclaimed property in the past fiscal year.Chief Financial Officer (CFO) Jimmy Patronis took office in July 2017 and said this year’s total broke last year’s rec...
Published: 07/20/18
Trump ready to hit all Chinese imports with tariffs

Trump ready to hit all Chinese imports with tariffs

Associated PressPresident Donald Trump has indicated that he’s willing to hit every product imported from China with tariffs, sending U.S. markets sliding before the opening bell Friday. In a taped interview with the business channel CNBC, Trump said...
Published: 07/20/18
Tampa Bay and Florida businesses expect tariffs to drive prices up

Tampa Bay and Florida businesses expect tariffs to drive prices up

TAMPA — Tariffs imposed by the Trump administration and other countries are beginning to push up prices and depress demand in spots around the Tampa Bay area and Florida, business executives say."We’ve definitely seen that the tariffs have increased ...
Published: 07/20/18