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St. Louis Fed approves Mo. bank's application to buy in-state peer

The Federal Reserve Bank of St. Louis on Dec. 18 approved Southern Missouri Bancorp Inc.'s application to buy Southern Missouri Bancshares Inc. and thereby indirectly acquire its subsidiary bank, Southern Missouri Bank of Marshfield.

Also approved was the companion application by Southern Missouri Bancorp's subsidiary bank, Southern Bank, to merge with Southern Missouri Bank of Marshfield, and to retain the acquired facilities as Southern Bank branches.