Auburn State Bank and Carson National Bank of Auburn in Nebraska have received the go-ahead from the Federal Reserve to merge.
The $97.5 million-asset Auburn State and the $73.8 million-asset Carson National are both controlled by the Grant family in Auburn and have been under the family's control since 1946.
The Federal Reserve cited the banks' longstanding association in its decision to approve the deal. The Fed also noted that Auburn State and Carson National have been affiliated for 69 years, predating the time when federal antitrust laws were applied to bank mergers; thus, the two banks did not affiliate to evade antitrust laws.
Auburn State and Carson National each operate one branch in Auburn.