Wachovia Corp. said it has completed its purchase of 1st United Bancorp of Boca Raton, Fla.

With $736 million of assets, 1st United Bancorp is the parent of 1st United Bank, the largest community bank based in Palm Beach County.

1st United operates 33 branches in Palm Beach, Martin, Broward, and Brevard counties. It will operate under its own name until the merger and systems integration with Wachovia is completed in mid-1998.

Wachovia Corp. is the 21st-largest U.S. bank holding company, with assets of $47.7 billion. It recently completed an acquisition of Jefferson Bankshares, Charlottesville, Va., and has a deal to buy Central Fidelity Banks Inc. of Richmond, Va., expected to close by mid-December. u

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