The Federal Reserve Board gave two banks permission on Monday to consolidate subsidiaries.

Morgan Guaranty Trust Co. will combine with J.P. Morgan Delaware, Wilmington, Del. Both are subsidiaries of J.P. Morgan & Co.

Signet Bank, Richmond, Va., received the go-ahead from the Fed to combine with Signet Bank, Falls Church, Va.

The Fed also approved a bid by National Bancshares of Texas, Laredo, to acquire up to 24.9% of the voting shares of Corpus Christi Bancshares.

Corpus Christi Bancshares had opposed the deal, saying it feared National Bancshares might use its stake to force a sale of the bank.

- Scott Smith, Medill News Service

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