WASHINGTON -- The Federal Reserve Board approved Banc One Corp.'s application to acquire Premier Bancorp in Louisiana, but denied Banc One's request for an exemption from the so-called source-of-strength doctrine.

In an apparent first, Banc One asked not to be required to cover capital deficits at a bank it controls, as the source-of-strength policy would mandate.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.