florida

Banco Bradesco said it will use the acquired bank to expand its investment offerings in the United States.

The company, which is planning to revamp its organizational structure, has seen a sharp increase in funding costs over the past year.

Power Financial Credit Union's deal for TransCapital Bank marks the fourth time this year a bank has agreed to be sold to a credit union in that state.

State law bars credit unions from accepting deposits from cities, counties and other government entities. Florida banks say it should stay that way unless tax advantages for credit unions are removed, but credit unions counter that banks are trying to stifle competition.

The Mississippi company will pay more than $200 million for the parent companies of Texas Star Bank and Summit Bank.