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News Watch
- 11/23/2008 2:42:10 AM
By Chip Brian, SmarTrend Analytics Team
Late Thursday, Jefferson Bancshares, Inc. (NASDAQ:JFBI) announced that it would purchase State of Franklin Bancshares, Inc. for $10.9 million. Based in Tennessee, Jefferson Bancshares acts as the holding company for Jefferson Federal. Under the agreement, the two holding companies will merge to form assets of $678 million. The merge will double Jefferson Bancshares banking offices from six to 12. Shares of Jefferson Bankshares were up 53 cents to $9.53 in Friday morning trading.
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