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Washington D.C.’s Independence Federal to Acquire Colombo Bancshares

Hoping to boost its profitability, Washington, D.C.-based Independence Federal Savings Bank (No. 14 on the B.E. Banks list with $150.9 million in assets) plans to acquire Colombo Bancshares Inc. of Rockville, Maryland in a stock deal valued at roughly $4.8 million.

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