The Federal Reserve Board has approved Security...
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The Federal Reserve Board has approved Security Pacific’s application to acquire Nevada National Bancorporation, and the deal is expected to be completed early next year. Security Pacific, a Los Angeles-based banking company, agreed two years ago to pay $31 million for Nevada National. The deal cannot be closed until after Jan. 1, when Nevada legislation allows interstate bank acquisitions. The Reno-based firm is the fourth-largest bank in the state, with assets of $675 million and 26 branches.
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