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Beneficial State closes Albina acquisition

Beneficial State Bancorp Inc. has completed the acquisition of its majority-owned Portland, Ore.-based Albina Community Bank.

The purchase of the remaining stake closed Feb. 1, according to the Federal Reserve's National Information Center and Beneficial's website.

Oakland, Calif.-based Beneficial State Bank had $759.1 million in assets at the end of 2017. Albina had $180.6 million.