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OCC approves First Federal Bank of Florida's merger with CBC National Bank

The Office of the Comptroller of the Currency on March 15 approved the proposed merger between Fernandina Beach, Fla.-based CBC National Bank and Lake City, Fla.-based First Federal Bank of Florida.

First Federal Bancorp Inc. is purchasing Coastal Banking Co. Inc. in a deal valued at $83.2 million when it was announced in November 2017.

Shareholders of Coastal Banking approved the deal in February.

First Federal Bancorp MHC is the ultimate parent of First Federal Bank of Florida.