Asset Acquisition and Assumption Agreement Sample Contracts

ASSET ACQUISITION AND ASSUMPTION AGREEMENT among SUN AMERICAN BANCORP SUN AMERICAN BANK and BEACH BANK Dated as of May 17, 2006

Asset Acquisition and Assumption Agreement • May 23rd, 2006 • Sun American Bancorp • State commercial banks • Florida

• Contract Type
  Asset Acquisition and Assumption Agreement
• Filed
  May 23rd, 2006
• Company
  Sun American Bancorp
• Industry
  State commercial banks
• Jurisdiction
  Florida

ASSET ACQUISITION AND ASSUMPTION AGREEMENT (this “Agreement”), dated as of May 17, 2006, among Sun American Bancorp, a Delaware business corporation (“SAB”), Sun American Bank, a Florida commercial banking association and a wholly-owned subsidiary of SAB (“SB”) and Beach Bank, a Florida commercial banking association (“BB”).