The Florida Office of Financial Regulation has approved Florida Central Credit Union's bid to buy a Sarasota, Fla., branch from First Federal Bank of Florida.

The $400 million-asset credit union has agreed to buy certain assets, including the building, and assume certain liabilities, including roughly $11 million in consumer deposits, from First Federal. Laida Garcia, Florida Central's chief executive, declined to discuss the price. The deal still requires approval from the National Credit Union Administration.

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