The Federal Reserve Board has given $6.2 billion-asset FirstMerit Corp., Akron, Ohio, permission to acquire Signal Corp., Wooster, Ohio.

FirstMerit announced the $470 million deal in August and expects to close it in the first quarter. Signal, with assets of $1.9 billion, will be merged into FirstMerit Bank, according to the Dec. 7 approval.

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.