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First Federal, Coastal Banking secure deal approvals

Lake City, Fla.-based First Federal Bancorp Inc. and Beaufort, S.C.-based Coastal Banking Co. Inc. have secured all requisite approvals for their $83.2 million merger.

They now expect to close the deal on April 2.

Coastal Banking's CBC National Bank will merge into First Federal Bank of Florida. The integration of operations are expected to be completed by Aug. 24.