ANN ARBOR, Mich. - Republic Bancorp said it agreed in principle to purchase assets from Poughkeepsie Savings Bank's Market Street Mortgage Corp..

Included for purchase in the deal are the Market Street Mortgage's loan servicing and origination operations, its loan production offices, and other assets. The mortgage unit has a servicing portfolio of about $1.4 billion.

Terms of the agreement have not been disclosed.

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