Internet First: Online Bank Takeover

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NEW YORK — In what is being billed as the first Internet bank takeover, NetBank on Thursday announced that it was purchasing all of the deposit accounts of CompuBank.

D.R. Grimes, chief executive of NetBank, said the move would add more than 50,000 accounts to his bank’s 170,000 total. “It very well could be the first Internet bank takeover,” Grimes said. “That makes it exciting for us.” He declined to disclose the terms of the deal.


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