Standard Federal Bancorp. said its $27.15 million agreement to acquire FSB Financial Corp. will bolster its presence in the hotly contested Kalamazoo, Mich., market.

The all-cash deal, which was announced Friday, will bring $13 billion- asset Standard Federal four branches. But the Troy, Mich.-based bank plans to close two FSB branches and one of its own, leaving it with a dozen offices in Kalamazoo.

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