The management team of 5Star Bank, Colorado Springs, Colo., has agreed to acquire the bank from Alexandria, Va.-based Armed Forces Benefit Association before the end of the year. The deal will bring the company under local ownership for the first time and will transform the bank into a full-service financial services provider for small businesses and the real estate industry. The terms of the deal were not disclosed. The sale must be approved by state and federal regulators before it is completed during the fourth quarter . . .
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