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The $6.4 billion DFCU Financial Credit Union in Dearborn, Mich., said it plans to buy the $689 million First Citrus Bank of Tampa, Fla., for $94.4 million.
The board of directors of the credit union and the bank said in a prepared statement on Thursday that they executed a definitive agreement that would pay FCB's shareholders $47.75 in cash for each share they own. As of April 25, FCB's shares outstanding totaled 2,063,637.
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