Old Florida Bank to absorb New Traditions branches

Old Florida National Bank said Wednesday it plans to complete its consolidation of New Traditions National Bank under a new name – Old Florida Bank – by year's end.

Old Florida National acquired New Traditions last fall in a $45 million stock deal. It is the largest locally-based banking franchise in Central Florida, with deposits of more than $1.1 billion as of 2013.

Plans call for all branches of both banks to operate as Old Florida Bank, which was approved last month as a state-chartered bank, officials said.

The new name has already appeared on Old Florida National's downtown headquarters, which is in a building overlooking Lake Eola. A new Lake Mary branch, which is set to open in August, will also bear the Old Florida Bank moniker.

Old Florida's proposed system-wide branch consolidation is still subject to final approval by state regulators.

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