HARTFORD, Conn. (AP) — Hartford Financial Services Group Inc. said on Monday that it will sell Federal Trust Corp., a thrift holding company with 11 offices in Florida, to CenterState Banks Inc.
Financial terms of the transaction were not disclosed.
Hartford expects to record an after-tax charge of about $70 million in the second quarter related to the transaction. That includes losses on certain assets and liabilities that will not be sold to CenterState.
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