Florida-based lender BankAtlantic Bancorp Inc (BBX.N) said it will sell its Tampa-St. Petersburg franchise to PNC Financial Services Group's (PNC.N) PNC Bank to focus on its Southeast Florida operations. PNC Bank will buy 19 BankAtlantic branches and two related facilities in the Tampa-St. Petersburg area and associated deposits of about $350 million. PNC agreed to pay a premium for the deposits assumed plus the net book value of the acquired real estate and fixed assets, BankAtlantic said in a statement.
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