North-Central Florida based bank gets bought out

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CHIEFLAND, Fla. (WCJB) - A longtime bank headquartered in north-central Florida is being taken over.

Drummond Community Bank, headquartered in Chiefland, is being acquired by Seacoast Banking Corporation.

Executives Luther and Gray Drummond will remain with the new company.

No word what will happen to employees of the 18 Drummond Bank branches.

The 173-million dollar deal has to be approved by regulators but is expected to be completed by the end of the year.

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