Colonial BancGroup in Montgomery, Ala., said it is buying Dadeland Bancshares, Miami, for $38 million in cash.

Dadeland Bank, the principal subsidiary of $137 million-asset Dadeland Bancshares, has four offices in Miami.

Colonial operates nine offices in Miami Beach that it acquired this year when it bought Jefferson Bank.

The deal for Dadeland, expected to be completed by the end of October, awaits regulatory and shareholder approval.

Colonial, with $6 billion of assets, operates 171 full-service branches in Alabama, Florida, Georgia, and Tennessee.

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