Article: Alabama-Based Colonial Bancgroup to Buy Florida's Palm Beach National.

By Stephen Pounds, The Palm Beach Post, Fla. Knight Ridder/Tribune Business News

May 29--An Alabama-based bank is gobbling up Palm Beach National Holding Co. in a stock deal valued at $105.5 million, the banks said Tuesday.

Buying Palm Beach National, the parent of Palm Beach National Bank & Trust, would give Colonial Bancgroup of Montgomery, Ala., eight more Palm Beach County offices. It now operates five. It also would add 125 employees to its 257 in South Florida.

Palm Beach National has offices in Palm Beach, West Palm Beach, North Palm Beach, Jupiter, Palm Beach Gardens and Lantana, while Colonial operates branches in Boca Raton, West ...

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