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OCC approves Valley National-USAmeriBancorp deal

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OCC approves Valley National-USAmeriBancorp deal

The Office of the Comptroller of the Currency has approved Valley National Bancorp's pending acquisition of USAmeriBancorp Inc.

The Federal Reserve had earlier signed off on the deal. Shareholder approvals have yet to be secured.

Wayne, N.J.-based Valley National and USAmeriBancorp of Clearwater, Fla., announced their merger in July. At the time, they expected completion to occur in the first quarter of 2018.