Seminole Tribe to Buy Mackinac Savings in Florida

The Seminole Tribe of Florida has agreed to buy Mackinac Savings Bank in Boynton Beach, Fla.

The deal would create Florida's only Native American-owned bank, according to the South Florida Business Journal.

The tribe filed an application earlier this year to buy Valley Bank in Fort Lauderdale, Fla., but later backed out of the deal. Valley Bank, which was part of River Valley Bancorp, failed in June and was sold to Great Southern Bank.

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