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The $3.4 billion MIDFLORIDA Credit Union in Lakeland said last week it intends to purchase the $738 million Community Bank & Trust of Florida and buy the Florida assets of the $955 million First American Bank in Fort Dodge, Iowa.

Financial terms of the proposed deals were not disclosed. Although agreements have been approved by the boards of directors of the banks and credit union, MIDFLORIDA said it is still in the preliminary stages of the acquisition process, according to a May 3 blog post.

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Peter Strozniak

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