CHARLOTTE, N.C. -- First Union Corp. said it has received approvals from the Federal Reserve Board, Office of the Comptroller of the Currency, and Office of Thrift Supervision to acquire BancFlorida Financial Corp., a Naples-based thrift company with $1.5 billion of assets and 37 offices in southwest Florida.

The acquisition was announced on Jan. 17 and received BancFlorida shareholders' approval June 10. The expected closing date is Aug. 1.

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