The Justice Department's antitrust division and the Federal Reserve Board on Monday cleared a deal between two West Virginia banks.

The approvals clear the way for City Holding, a $1.5 billion-asset banking company headquartered in Charleston, to buy $1 billion-asset Horizon Bancorp of Beckley, provided each company divests one branch.

The $413 million stock deal, announced Aug. 7, would give City Holding the third-largest deposit share among bank holding companies operating in West Virginia.

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