NEW YORK – SouthTrust Corp., which agreed in June to be bought by Wachovia Corp., on Tuesday said it agreed to sell 18 banking offices in Florida and Georgia to R-G Crown Bank.
The sale is part of Birmingham, Alabama-based SouthTrust’s plan to divest assets as part of the merger review process.
Charlotte, North Carolina-based Wachovia, which agreed to pay $14.3 billion for SouthTrust, in June said the banks planned to shut 130 to 150 branches, mainly in areas of Florida and Georgia where they overlapped, to help save $255 million a year.
For this complete story, please visit SouthTrust to Sell Some Banking Offices Ahead of Merger.
