First Union to buy Florida's Enterprise Bank.

WINTER PARK, Fla. -- First Union Corp.'s First Union National Bank of Florida signed an agreement to pay $8.8 million in cash for Enterprise Bank.

Enterprise has one office in Winter Park, Fla., with about $40 million in assets.

First Union expects to complete the acquisition by the end of the year, subject to Enterprise shareholders' approval, regulatory approval, and other conditions.

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