FIRST AMENDMENT TO ASSET ACQUISITION ASSUMPTION AGREEMENTAsset Acquisition and Assumption Agreement • November 29th, 2006 • Sun American Bancorp • State commercial banks
THIS FIRST AMENDMENT TO ASSET ACQUISITION AND ASSUMPTION AGREEMENT dated May 17, 2006 (this “Amendment”) is made and entered into as of November 17, 2006 by and 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”) (collectively, SAB and SB are referred to as the “SAB”) and Beach Bank, a Florida commercial banking association (“BB”).
