WASHINGTON - Barnett Banks Inc.'s proposal to acquire in-state rival First Florida Banks Inc. has cleared antitrust hurdles virtually unscathed.

The Federal Reserve Board approved the application Wednesday after the Justice Department ruled that Barnett has to sell only four branches to ensure that the Tampa market remains competitive.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.