Security First Network Bank said it had received a $10 million equity infusion from State Farm Financial Services, a unit of the Bloomington, Ind.-based insurance company.

Security First Network Bank, the highly touted "first bank on the Internet," has sold its Internet banking system to 81 banks and insurance companies. Royal Bank of Canada is buying Security First's banking business but not its technology business; after the sale the latter would adopt the name Security First Technologies.

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