A $192 million-asset Florida bank said it plans to expand into Orlando from its base on the state's eastern coast.

Admiralty Bancorp of Palm Beach Gardens has hired an eight-person team of Florida bankers to open three branches in Orlando, where the eight were colleagues at Citrus Bank before it was sold last year to Carolina First Corp. of Greenville, S.C.

The parent of Admiralty Bank has five branches from Boca Raton to Melbourne. It plans to raise $7 million to $11 million in a stock offering to help fund the expansion.

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