Continuing its Midwest expansion, Citizens Banking Corp. said Wednesday that it would acquire 17 northern Michigan branches from Bank One Corp.

Citizens would pay $36.7 million for $390 million of deposits and $80 million of loans. The $4.5 billion-asset company said the branches are attractive because they are in areas that are undergoing significant population growth.

The deal follows Citizens' announcement in April that it would buy $2.5 billion-asset F&M Bancorp. in Kaukauna, Wis., for $820 million.

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