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Union Planters Bank has increased its South Florida presence 50 percent by acquiring Republic National Bank of Miami, which leaves a legacy of jump-starting hundreds of local Hispanic-owned businesses.
Memphis, Tenn.-based Union Planters added Republics 27 South Florida offices over the weekend of July 17-18 and had changed the signs at most of those offices by last Monday morning. It will change the remainder by early August after it obtains required permits, said Adolfo Henriques, Union Planters' chairman and CEO for Florida.
The acquisition boosts Union Planters' South Florida deposits from $3 billion to $4.4 billion, placing it sixth in the tri-county region among banks and savings and loans.
In Miami-Dade County, it has slightly more than $3 billion in deposits, which ranks it third behind NationsBank and First Union.
Union Planters is emphasizing to its new customers that it provides mutual funds, annuities, cash management …