BELLEVIEW, Fla. -- Barnett Banks Inc.'s wholly owned subsidiary, Barnett Bank of Marion County, has purchased the Linda Clifford Insurance Agency in a private transaction.

The Clifford agency, with annual premiums of $2 million, sells property, casualty, and life insurance, Barnett Banks said in a press release.

Barnett said it will maintain the current activities of the agency and Linda Clifford will remain as the principal agent.

Barnett has bought the agency under a federal law that allows national banks to own and operate insurance agencies from towns with less than 5,000 residents.

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