Aiden Florida Bancshares in Rancho
Santa Margarita, Calif., has agreed to buy a 65% to 80% stake in Florida
Bancshares, the parent company of First National Bank of Pasco, according to a
notice from Hovde Group.
Hovde, which represented the $276
million-asset First National Bank of Pasco, did not disclose the price of the all-cash transaction.
Aiden Florida filed its incorporation
papers in Florida in mid-November, listing Fadi
Cheikha as its incorporator. Cheikha is CEO of US Alliance Group, according
to his LinkedIn profile.
US Alliance
Group provides payment processing
and merchant services, among other things.
Cheikha is also
president of Aiden
Whisper, a nonprofit that provides education, training and support programs.
Efforts to
reach Cheikha were not immediately successful.
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