Citizens First Bank
 

Why is the Villages merging? or getting rid of all of there banks....

I guess they got an offer they could not refuse.

Because the big fishy swallows the small fishy.

Because they wanted to. The banks won't be going away, they're just being absorbed into the Seacoast brand. I'm much more curious to know why they rolled out a brand new updated Citizens First app, if they're going to cease to be Citizens First bank in a few months. Seems like that was a monumental waste of payroll.

Maybe all they got to do is just change name to seacoast?

Or the developer thought he might need a lot of cash.

Likely so they could focus on their core business. Development and building homes.

Why???..................because they are a land developer.
They develop land.
All the commercial land and commercial business are created to support land development.

Once the "businesses" are profitable and can show historical profits, time to sell.

ALL business developments are for sale. Period.
It's not their core focus.

Golf Clubs are for sale.
Commerial real estate (town squares) are for sale.
Etc., etc.

Land Development.

Hope it improves their mobile app and bank to bank transfer process.

$710,800,000. Closing the deal in the fourth quarter of 2025 if regulators approve

$$$$$$$$$$$$$$$$$$$$$$$$

For the same reason they sold The Villages Insurance and are selling The Villages Health! What do these three businesses have in common? They all deal with thousands of people and thousands of transactions every day! Thousands and thousands of Pain In The A$$es each day! Just like TOTV! The are selling to return to their Core Business - - developing residential and commercial real estate and managing commercial properties!!!

The bank served its purpose. To provide financing and mortgages for people moving to TV.
Initially they were selling manufactured homes and homes in the middle of effing nowhere. Both are usually a no go for traditional banks and mortgage companies.
Now that they are well established it’s not hard to get approval at a good rate for a purchase in TV.
My slightly educated guess is that as they lost market share in the loan department and as more folks used online banking with their old hometown bank it became less profitable. And being a small bank dealing with banking regulations can get very expensive in terms of people and time.

And their healthcare and their insurance company. I'm wondering if Eastport/Middleton was a bit more than they can handle. It's very strange.

CFB Seacoast Merger
 

The grandkids need more $$$$:bigbow: