CHARLOTTE, N.C. - First Union Corp. said it has received preliminary approval from the Office of the Comptroller of the Currency to acquire Miami-based American Savings of Florida.
Stockholders of the $3.5 billion-asset thrift are to vote Wednesday on the deal, first announced in December.
American Savings operates 29 retail offices in Dade, Broward, and Palm Beach counties. It has eight mortgage origination offices in Florida and two in Chicago.
First Union has assets of $77.9 billion and branches in Florida, the Carolinas, Georgia, Virginia, Tennessee, Maryland, and the District of Columbia.