Florida's Republic Bancshares has a deal to sell its Brunswick, Ga., branch to a local bank.
The St. Petersburg-based company will sell the branch to Sapelo National Bank in Darien for an undisclosed price. Sapelo, which has $16 million of assets and one branch, will buy $15.2 million of deposits and $6 million of loans tied to the branch.
The deal is expected to close in the third quarter.
The Brunswick branch is one of eight that Republic bought from NationsBank Corp. last year after NationsBank bought Barnett Banks Inc. It was Republic's only branch outside of Florida.
Republic, with $2.5 billion of assest, has 71 branches in the Sunshine State.