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Regulators approve Bank of McKenney-CCB deal

Bank of McKenney and CCB Bankshares Inc. have secured both federal and state regulatory approvals for their pending merger.

Their deal is still subject to shareholder approvals, but is expected to close in the fourth quarter.

The resulting entity plans to rebrand as Touchstone Bank, based in Prince George County, Va. The headquarters will consolidate the management and operations of five current locations. Touchstone will have approximately $442 million in assets, $344 million in loans and $381 million in deposits, based on June 30 financials.