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Regulators approve Bank of Commerce's planned acquisition of Merchants Holding
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The Federal Deposit Insurance Corp. and the California Department of Business Oversight gave the nod to Sacramento, Calif.-based Bank of Commerce Holdings, the parent of Redding Bank of Commerce, for its previously announced acquisition of Merchants Holding Co. And the Federal Reserve confirmed that no application needs to be filed for the deal with the agency.
The shareholders of Merchants Holding approved the pending acquisition, as well, which is set to close on or about Jan. 31, 2019.