The Federal Reserve Board on Friday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by Veritex Holdings, Inc., to merge with Sovereign Bancshares, Inc., and thereby indirectly acquire Sovereign Bank, all of Dallas, Texas. The Board also approved the applications, under section 18(c) of the Federal Deposit Insurance Act and section 9 of the Federal Reserve Act, by Veritex Community Bank, Dallas, Texas, to merge with Sovereign Bank and to establish and operate branches at locations of the main office and branches of Sovereign Bank.
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