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The $255 million Five Star CU in Dothan, Ala., announced this week that it plans to buy a small bank that has one location in Georgia.

The 23,000-member Five Star and Flint River National Bank have signed a definitive agreement that includes Five Star assuming the bank’s deposits and accrued interest payable, and purchasing all loans, investments, real estate, accrued interest receivables, and other banking-related assets, valued at approximately $21 million (after a discount to the loan portfolio agreed to by the parties), the credit union said.

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