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Chase plans to expand from its new Florida base.

February 19, 1986

New York-based Chase Manhattan Bank, the nation's third largest, reopened the Park Bank of Florida as Chase Bank of Florida. Chase acquired the St. Petersburg, Fla.-based bank, which was closed over the weekend by state regulators, for $62.6 million. Park Bank had collapsed because of bad real estate and construction loans. Robert Douglass, vice chairman of Chase Manhattan for national banking, said Chase hoped to expand statewide from its new base.

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