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Community Bank System gets Fed OK to buy Merchants Bancshares
2017年4月26日 / 下午4点18分 / 6 个月内

Community Bank System gets Fed OK to buy Merchants Bancshares

WASHINGTON, April 26 (Reuters) - The Federal Reserve on Wednesday said it had approved Merchants Bancshares Inc to be acquired by Community Bank System after deciding the tie-up would not harm competition.

Merchants Bancshares operates Merchants Bank of South Burlington, Vermont, and the deal will allow Community Bank System, of upstate New York, to better compete with national lenders, the central bank said in its decision.

The deal does not threaten the stability of the financial system, the Fed said in its order.

The deal will create the 122nd largest insured bank in the United States with assets of roughly $10.7 billion, less than 1 percent of the total in the system. (Reporting By Patrick Rucker)

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