The nation's largest black-owned banking company is being bought by a suitor it spurned two years ago: Shorebank Corp., the nationally known development bank that is owned by some of the country's largest banks and corporations.

Shorebank's South Shore Bank subsidiary will nearly double in size, to $550 million of assets, when it acquires Indecorp Inc. and its Independence Bank and Drexel National Bank, two of the oldest and most successful minority-owned banks in the country.

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