Union Planters Corp. announced Friday an agreement to buy Ready state Bank, a $600 million-asset company based in Miami. The price was not disclosed.

The deal would give Union Planters 10 branches in Dade County and two in Broward County and would strengthen the bank's presence in the state's Hispanic and commercial real estate lending markets, company officials said. It would boost Union Planters' Florida branches to 65.

Union Planters, which had $18.6 billion of assets at midyear, has nine other acquisitions pending.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.