PHILADELPHIA -- Core-States Financial Corp. said it has completed its previously announced acquisition of Financial Telesis Inc. Terms were not disclosed.

Financial Telesis is an independent provider of lockbox processing and data management services for financial institutions, which it in turn markets to corporate and business customers. The company will operate as a separate subsidiary of CoreStates. It has 400 employees serving more than 500 lockbox clients from processing locations in Clifton, N.J.; Langhorne, Pa.; and Fairfax, Va.

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