To simplify its own pending merger with NationsBank Corp., Barnett Banks Inc. said it would sell First of America Bank Corp.'s Florida fran- chise to SouthTrust Corp. for $160 million in cash.

Barnett had just taken possession of the $1.1 billion-asset franchise Sept. 30.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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