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CAPITAL BANK RECEIVES REGULATORY APPROVAL TO ACQUIRE BRANCH OF CONSOLIDATED BANK

 CAPITAL BANK RECEIVES REGULATORY APPROVAL
 TO ACQUIRE BRANCH OF CONSOLIDATED BANK
 MIAMI, Feb. 24 /PRNewswire/ -- Capital Bank announced today that it has received approval from federal and state banking regulators to complete its acquisition of a Consolidated Bank branch in Deerfield Beach.
 Capital is purchasing the office located at 225 South Federal Highway, and is assuming approximately $24.2 million of deposit liabilities held at that branch.
 When the acquisition is completed on Feb. 28, 1992, Capital Bank's network will grow to 28 offices throughout Dade, Broward and Palm Beach counties. Six of those offices are in Broward County.
 "The Deerfield Beach office provides an excellent location for the bank to expand its services in Broward County," said Daniel Holtz, president and chief operating officer of Capital Bank. "It is a good geographic and market fit."
 Miami-based Capital Bank, with assets of $1.2 billion, also has a factoring subsidiary, Capital Factors, Inc., which has offices in Fort Lauderdale, New York and Los Angeles. The bank is a wholly owned subsidiary of Capital Bancorp, a Florida bank holding company.
 -0- 2/24/92
 /CONTACT: Daniel Holtz, president and chief operating officer of Capital Bank, 305-536-1560/ CO: Capital Bank ST: Florida IN: FIN SU: TNM


JJ-SS -- FL006 -- 1764 02/24/92 09:44 EST
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Publication:PR Newswire
Date:Feb 24, 1992
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