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First Tennessee Buying 13 Branches From Bank Of America

Thursday, May 29, 2014 - 3:38 PMFirst Tennessee Bank, National Association - Details
First Tennessee has agreed to buy 13 Bank of America branches in Middle and East Tennessee, further establishing its position as the state’s banking leader by market share.The purchase will add about $660 million in deposits at a deposit premium of 3.32 percent and is expected to close this year. The bank had the largest market share by deposits in the state as of June 2013, with $16.6 billion. Bank of America, based in Charlotte, N.C., was ranked No. 4.
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