PITTSBURGH -- PNC Bank Corp. said it reached a definitive agreement to acquire Indian River Federal Savings Bank of Vero Beach, Fla., for about $11.8 million, or $18.25 a share, in cash.

Indian River, with assets of $74 million and deposits of $ 57 million, would be combined with the PNC trust operation, which has offices in Vero Beach and Tampa.

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