The Hartford Financial Services Group Inc. says it has completed its acquisition of Federal Trust Corporation for $10 million in cash.
The transaction closed on June 24, 2009, Hartford says.
Federal Trust Corporation, a unitary thrift holding company, is parent of Federal Trust Bank, Sanford, Fla., a federally-chartered, FDIC-insured savings bank.
The acquisition represents "the last significant step towards the closing of our investment agreement with Treasury," said Ramani Ayer, chairman and chief executive officer of Hartford Financial.
