The Federal Reserve Board on Monday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by Commercial Bancgroup, Inc., and its parent companies, Robertson Holding Company, L.P., and Unified Shares, LLC, all of Harrogate, Tennessee, to acquire Citizens Bancorp, Inc. ("Citizens"), and thereby indirectly acquire Citizens' subsidiary bank, Citizens Bank, both of New Tazewell, Tennessee. 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 Commercial Bank, Harrogate, Tennessee, to merge with Citizens Bank and establish and operate branches at locations of the main office and branches of Citizens Bank.
Attached is the Board's order relating to these actions.
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