The Federal Reserve Board on Thursday announced its approval of the proposal by Caja de Ahorros y Monte de Piedad de Madrid and Caja Madrid Cibeles S.A., both of Madrid, Spain, and CM Florida Holdings, Inc., Coral Gables, Florida, to acquire 83 percent of the voting securities of City National Bancshares, Inc. and thereby acquire control of its subsidiary bank, City National Bank of Florida, both of Miami, Florida.
Attached is the Board's Order relating to this action.
