POUGHKEEPSIE, N.Y. - Poughkeepsie Savings Bank said it reached an agreement to sell its South Carolina unit, First State Savings, to First Citizens Bank of Columbia, S.C.

Terms of the transaction were not disclosed, but Poughkeepsie said the transaction includes branch locations with $64 million in retail deposits.

The transaction is subject to the approval of the Office of Thrift Supervision, Federal Deposit Insurance Corp. and the South Carolina State Board of Financial Institutions.

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