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Fed roundup: CIT Group gets waiver of application for Mutual of Omaha Bank deal

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 Kansas City on Dec. 4 approved Kansas City, Mo.-based CCB Financial Corp.'s application to acquire by merger Olathe, Kan.-based Prairie Star Bancshares Inc. and thereby indirectly acquire Bank of the Prairie. On Dec. 2, the Kansas City Fed approved Country Club Bank's pending merger with Bank of the Prairie.

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The Fed on Dec. 6 granted CIT Group Inc. a waiver of application to acquire Omaha, Neb.-based Mutual of Omaha Bank, in connection with the merger of Mutual of Omaha Bank with and into Pasadena, Calif.-based CIT Bank NA.

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The Kansas City Fed on Dec. 6 granted Arkansas City, Kan.-based Docking Bancshares Inc. a waiver of application to acquire Newton, Kan.-based Midland Financial Corp., in connection with the merger of Midland National Bank with and into Union State Bank. The banks' pending merger was also approved by the Kansas City Fed on the same day.

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The Federal Reserve Bank of Atlanta on Dec. 5 approved Nashville, Tenn.-based FB Financial Corp.'s application to merge with Scottsville, Ky.-based FNB Financial Corp., and thereby acquire Farmers National Bank of Scottsville.

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The Atlanta Fed on Dec. 6 approved Brentwood, Tenn.-based Reliant Bank's pending merger with Ashland City, Tenn.-based Community Bank & Trust.

Fed membership

The Federal Reserve Bank of St. Louis on Dec. 3 approved Hopkinsville, Ky.-based United Southern Bank's application to become a member of the Federal Reserve System.

Filing

During the week ending Dec. 7, the St. Louis Fed received an application from Pine Bluff, Ark.-based Simmons Bank to merge with Columbia, Mo.-based Landmark Bank and to retain the acquired facilities as branch offices.