The OCC has approved the pending deal between Defiance, Ohio-based First Defiance Financial Corp. and Upper Sandusky, Ohio-based Commercial Bancshares Inc.

In addition, the Federal Reserve Board agreed to waive the requirement that First Defiance file an application for the merger of Commercial into First Defiance and the related bank mergers.

The deal, set to close Feb. 24, 2017, is still subject to shareholder approval and other closing conditions.