Seeking to break into Florida, Union Planters Corp. has agreed to buy Miami-based Capital Bancorp, a $1.9 billion-asset company that has been engulfed in controversy.

Memphis-based Union Planters agreed to pay $358 million in stock for Capital, which has 28 offices in southern Florida.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.