May 21, 2007 / 11:18 AM / 12 years ago

Fifth Third Bancorp to buy R-G Crown Bank for $288 mln

May 21 (Reuters) - Fifth Third Bancorp (FITB.O) said it agreed to buy R-G Financial’s R-G Crown Bank for about $288 million to expand its presence in Florida.

The company said the deal will hurt its fourth-quarter 2007 earnings per share by a cent and add to 2008 earnings before amortization of intangible items.

R-G Crown Bank operates 30 branches in Florida and three in Augusta, Georgia. (Reporting by Amitha Rajan in Bangalore)

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