The Federal Reserve Board has approved Security...
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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