The managing board of Meldal Sparebank will put a plan for its proposed merger with Orkdal Sparebank to a general assembly meeting Feb. 23.

Dag Olav Løseth, general manager at Orkdal Sparebank, would head the merged entity, which would have 8.03 billion Norwegian kroner worth of assets and seven branches, based on year-end 2016 financial statements from both lenders.

As of Jan. 19, US$1 was equivalent to 8.49 Norwegian kroner.