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Corporate Report


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  • | 6:00 p.m. June 23, 2006
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Corporate Report

Orion Bancorp. passes $2 billion in assets

Orion Bancorp Inc. surpassed the $2 billion mark in total assets. The Naples-based company has grown assets by more than $1 billion over the past two years.

During the past year, Orion has opened additional branches in Naples and Fort Myers and has expanded to the East Coast with its first offices in Palm Beach.

Over the next three years, Orion plans to open 15 to 18 additional branch locations, doubling its branch locations in the state.

Gulfstream Community Bank

purchased by Republic

Louisville, Ky.-based Republic Bancorp. Inc. is acquiring Gulfstream Community Bank of Port Richey for $18.1 million in cash. Gulfstream opened in 2000 and currently has one office.

The bank reported assets of $66 million, loans of $46 million and deposits of $57 million.

With 35 banking locations in Kentucky and Indiana, Gulfstream is Republic's first acquisition in Florida.

Tampa retailer first

to offer pay-by-finger

Retailer Coast to Coast is the first in Tampa and one of the first in Florida to offer a finger-scan payment system. Customers pay for groceries, takeout foods, car wash and gas with the touch of a finger.

The new finger scan service is powered by San Francisco-based Pay By Touch, which recently acquired Herndon, Va.-based, BioPay and owns and operates the BioPay-branded biometric payment network throughout the country.

Customers sign up at www.biopay.com, and it works similar to a debit card with the money being withdrawn from a checking account.

MarineMax ups credit

to $500 million

MarineMax Inc., the Clearwater-based recreational boat retailer, increased its borrowing capacity to $500 million.

The asset-based credit facility has a five-year term with two additional one-year renewal options. It replaces and increases its previous $385 million credit facility, which had a three-year term.

The lending group consists of Bank of America, KeyBank, General Electric Commercial Distribution Finance Corp., Wachovia Bank, Wells Fargo Bank, National City Bank, U.S. Bank and Branch Banking and Trust Co.

MetroPCS expands

presence in Tampa

MetroPCS, a Dallas-based cellular service provider, plans to expand its service in Tampa.

The company will open 10 authorized dealer locations in Pasco and Hernando counties.

MetroPCS serves an area that stretches from Vero Beach to the Florida Keys to Brooksville and Dade City.

Global Imaging

adds Virginia company

Tampa-based Global Imaging Systems Inc. acquired Acme Business Machines, headquartered in Roanoke, Va. Purchase price was not released.

Acme sells and services Konica, Minolta and Ricoh copiers. Acme, with annual revenues of about $2.8 million, will operate as a part of Global Imaging's Electronic Systems Inc.

InterShow launches

new Web site for investors

InterShow, a Sarasota-based producer of investment trade shows and cruises, has launched its new Web site, MoneyShow.com.

MoneyShow.com is free for investors, traders and financial advisers, providing users with 24-hour access to investment advice direct from Wall Street, thousands of hours of investing education and customized content specific to a user's portfolio.

Verizon Wireless gets boost

with Wal-Mart partnership

Verizon Wireless and Wal-Mart will team-up to offer Verizon's Wireless products and services in Wal-Mart stores throughout Florida. Verizon will be located in 150 Wal-Mart locations in Florida and nearly 2,000 locations across the country.

Wal-Mart began offering products for INpulse, the Verizon Wireless pay-as-you-go prepay service, in March 2006. The Verizon Wireless center will be located in Connection Centers within the Home Entertainment section of Wal-Mart.

 

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