Security Financial Corp. has agreed to buy County Financial Corp., North Miami Beach, for $56 million.

Republic Security has $625 million of assets and 17 branches. County is a $238 million-asset holding company with 14 branches in northern Dade, Broward, and Palm Beach counties.

"This is a combination of two strong community banks whose success is directly attributable to the priority given to serving the customer," said Republic Security's chairman, Rudy Schupp.

He said the acquisition, which is expected to be completed by yearend, would immediately add to earnings. Republic plans to expand its mortgage and consumer lending.

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