The Federal Reserve Board gave Hibernia Corp. permission on July 31 to acquire two institutions in Louisiana.

The Fed authorized Hibernia to buy CM Bank Holding Company, which owns Calcasieu Marine National Bank of Lake Charles. Hibernia also received approval to acquire St. Bernard Bank and Trust Co. in Arabi.

After completing the two deals, Hibernia will control $7.1 billion in deposits in Louisiana. The Fed rejected two Community Reinvestment Act protests, noting that Hibernia received a "satisfactory" rating during its most recent exam.

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