WASHINGTON -- Banco Santander said it increased its stake in First Fidelity Bancorp. to the equivalent of about 25.4%.

The Spanish bank's recent increase in its First Fidelity stake includes the exercise of warrants to purchase 2,376,913 common shares at a price of $25.50 per share, or a total of $60.6 million, according to a filing with the Securities and Exchange Commission.

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