The First Bancshares Acquires Beach Bancorp, Inc.
April 26, 2022
The First Bancshares, Inc. (The First) entered into and completed a definitive agreement to acquire Beach Bancorp, Inc., the parent of Beach Bank, in an all‑stock transaction valued at approximately $116.7 million based on First Bancshares’ April 25, 2022 closing price. Beach Bank — which operates seven branches across the Florida panhandle and Tampa markets — was merged into The First Bank, expanding The First’s footprint in Northwest Florida and providing an entry into the Tampa market.
- Buyers
- The First Bancshares, Inc.
- Targets
- Beach Bancorp, Inc.
- Sellers
- Holders of Beach Bancorp common and preferred stock
- Industry
- Financial Services
- Location
- Florida, United States
- Transaction Type
- Buyout
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