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CAB Financial shareholders approve pending Park National Bank merger

Shareholders of CAB Financial Corp. approved the Spartanburg, S.C.-based company's pending acquisition by Newark, Ohio-based Park National Bank.

The $141.8 million deal, announced in September 2018, already received the Office of the Comptroller of the Currency's approval. Meanwhile, the Federal Reserve granted Park National's waiver of application.

The deal is expected to close early in the second quarter.