SouthTrust Corporation Completes Acquisition of First of America Bank - Florida FSB

SouthTrust Corporation, a $31 billion regional bank holding company, has completed the acquisition of First of America Bank - Florida FSB, significantly expanding its presence in Florida. The acquisition adds 52 new offices and ATMs to SouthTrust's existing network, making it the largest bank presence in the state. This move is a strategic expansion for SouthTrust, allowing it to increase customer convenience and solidify its position in the Florida market.

Key Takeaways:

• SouthTrust Corporation has completed the acquisition of First of America Bank - Florida FSB, expanding its presence in Florida.
• The acquisition adds 52 new offices and ATMs to SouthTrust's existing network, making it the largest bank presence in the state.
• SouthTrust now operates more than 220 banking offices in Florida, with over 590 offices across multiple states.
• The new offices are located in 15 counties in Florida, including Charlotte, Citrus, and Hillsborough.
• SouthTrust operates in six states: Florida, Alabama, Georgia, Mississippi, Tennessee, and the Carolinas.
• The acquisition is a strategic move by SouthTrust to increase customer convenience and expand its market presence.

Statistics:

• SouthTrust currently operates 220 banking offices in Florida.
• The acquisition adds 52 new offices and ATMs to SouthTrust's existing network.
• SouthTrust now has over 590 offices across six states: Florida, Alabama, Georgia, Mississippi, Tennessee, and the Carolinas.
• The new offices are located in 15 counties in Florida, covering a diverse geographic area.
• SouthTrust's acquisition expands its presence in Florida to make it the largest bank presence in the state.

Sources:

• SouthTrust Corporation
• First of America Bank - Florida FSB
• SouthTrust Corporation (SOTR)
• SouthTrust Corporation press release (dated Feb 2, 1998)