Florida Bank to Acquire Anderen

Florida Bank Group Inc. said Thursday that it has agreed to acquire Anderen Financial Inc.

The $843 million-asset parent company of Florida Bank will acquire Anderen, of Palm Harbor, Fla., with $150 million of assets, and its subsidiary, Anderen Bank, in an all-stock transaction.

Anderen shareholders will receive 1.32 shares of Florida Bank Group's common stock for each share of Anderen's common stock they own. As part of the deal, Florida Bank Group, of Tampa, has agreed to raise $10 million to $30 million in capital to reduce its nonperforming assets.

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