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FirstAtlantic Bank said Wednesday that it had agreed to buy CenterBank in a deal that will combine two Jacksonville, Fla., banks.
July 27
FirstAtlantic Bank in Jacksonville, Fla., has acquired a branch from Prosperity Bank in St. Augustine, Fla.
FirstAtlantic also gained roughly $14 million in deposits and $13 million in loans, the $318 million-asset bank said. The banks agreed to the deal in September.
The acquisition "is a very successful step in our growth strategy," Mitch Hunt, FirstAtlantic's chief executive, said in a press release.
FirstAtlantic now has six branches in three northern Florida counties. SunTrust Robinson Humphrey advised First Atlantic on the transaction.
