Florida Community Bank, a banking subsidiary of Bond Street Holdings, said Friday that it has received regulatory approval from the Office of the Comptroller of the Currency to acquire Great Florida Bank. The deal is expected to be completed Jan. 31.
Weston-based Florida Community Bank had announced its agreement to buy Great Florida Bank in July.
The acquisition will more than double Florida Community Bank’s branch network in Miami-Dade, Broward and Palm Beach counties, to 34 branches. The bank said it will become the fourth largest bank headquartered in Florida, with $5 billion in assets and a total of 67 locations along both Florida coasts and in southeast Florida.