S&P Global Market Intelligence presents a weekly roundup of notable actions of the Federal Reserve, as well as applications and reports received from banks, thrifts and credit unions. This feature excludes branch news and news previously covered by S&P Global Market Intelligence.
M&A
The Federal Reserve Bank of San Francisco approved San Jose, Calif.-based Heritage Bank of Commerce's proposed merger with San Ramon, Calif.-based Tri-Valley Bank.
The all-stock deal, valued at $31.6 million, was announced in December 2017.
Heritage Commerce Corp. is the parent of Heritage Bank of Commerce.
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The Federal Reserve Bank of Cleveland approved Marietta, Ohio-based Peoples Bank's proposed merger with Portsmouth, Ohio-based American Savings Bank FSB.
Under the $39.6 million deal, Peoples Bancorp Inc. will acquire ASB Financial Corp., the parent of American Savings Bank.
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The Federal Reserve granted Hollis, Okla.-based Great Plains Bancshares Inc.'s waiver of application to acquire Enid, Okla.-based Liberty Federal Savings Bank.
As part of the in-state deal, Liberty Federal would merge into Great Plains National Bank.
