Article: WELLS FARGO TO ACQUIRE CROCKER NATIONAL BANK

WASHINGTON (AP) - The Federal Reserve Board announced approval Tuesday for Wells Fargo & Co. to buy Crocker National Corp., an acquisition that would make Wells Fargo the 10th largest bank holding company in the country.

Both banks have their headquarters in San Francisco. Wells Fargo is now the nation's 13th largest bank holding company; Crocker National is the 25th largest.

The Federal Reserve Board's approval, which was necessary before the merger could go through, came on a 5-0 vote.

Britain's Midland Bank PLC on Feb. 7 announced it had agreed to sell its 100 percent interest in Crocker National Corp. to Wells Fargo in a deal valued at $1.07 billion.

The board said it was granting ...

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