The Federal Reserve Board on Wednesday gave WestStar Bank permission to acquire Victory Bank of Nowata, Okla. The combined bank will control nearly $800 million in deposits.

Though rejecting WestStar's contention that it does not compete with Victory, the Fed approved the deal because 11 other depositories compete in the market.

On Feb. 17, the Fed gave Indiana United Bancorp permission to acquired P.T.C. Bancorp and its Brookville, Ind.-based Peoples Trust Co. subsidiary. The combined banking company will control $524 million in deposits.

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