Republic Security Financial Corp., West Palm Beach, Fla., reached a definitive agreement Monday to buy Newbury (Fla.) Bank for $4.8 million of cash.

It was the second recent deal announcement for Republic Security, a $1.2 billion-asset company with 35 branches in Broward, Dade, and Palm Beach counties. The other pending deal involves First Palm Beach Bancorp.

If both deals are completed, Republic Security would have more than $3 billion of assets and 87 branches. Both transactions are expected to close by yearend.

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