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St. Louis Fed OKs Midland States, HomeStar Financial Group deal

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St. Louis Fed OKs Midland States, HomeStar Financial Group deal

The Federal Reserve Bank of St. Louis on May 20 approved Midland States Bancorp Inc.'s application to buy HomeStar Financial Group Inc. and thereby indirectly acquire its unit HomeStar Bank and Financial Services.

The St. Louis Fed also approved Midland States Bancorp unit Midland States Bank's application to merge with HomeStar Bank and Financial Services and to retain the acquired facilities as branches.