BOCA RATON, Fla. - 1st United Bancorp, parent of 1st United Bank, and Gateway American Bank of Florida have agreed to terminate their merger agreement, announced less than a month ago.

"It is our view now that the niche markets and lending strategies of the two banks were not as compatible as we had presumed them to be," said Warren S. Orlando, chief executive officer of 1st United Bank. "We have identified different marketplace emphasis and strategies which suit our respective banks but do not necessarily overlap in the manner we had anticipated."

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