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Fed roundup: Fed OKs WesBanco's application waiver to acquire Farmers Capital

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 granted Wheeling, W. Va.-based WesBanco Inc.'s waiver of application to acquire Frankfort, Ky.-based Farmers Capital Bank Corp.

As part of the deal, Farmers Capital unit United Bank & Capital Trust Co. will merge into WesBanco Bank Inc.

Reorganization

The Fed granted Iowa-based Carroll County Bancshares Inc.'s waiver of application in connection with a restructuring, under which unit Nevada Community Bancshares Inc. will merge into Carroll County Bancshares.

As part of the reorganization, Nevada Community Bancshares unit Community Bank will merge into Availa Bank, a subsidiary of Carroll County Bancshares.

Operations

The Federal Reserve Bank of Richmond approved Charlottesville-based Virginia National Bankshares Corp.'s application to engage in financial and investment advisory activities and private placement services through Masonry Capital Management LLC, a newly formed subsidiary.