Hartford Business.com
March 14, 2010
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The Hartford Financial Services Group, Inc. announced that it has completed its acquisition of Florida-based Federal Trust Corporation for $10 million in cash.
The transaction, which closed today, represents the last significant step towards The Hartford receiving $3.4 billion in Troubled Asset Relief Program funds from the Treasury.
"Federal Trust has served the Central Florida market for more than 20 years and the company will continue to serve its customers, operating under the Federal Trust name," said Ramani Ayer, CEO and chairman of The Hartford.
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