WASHINGTON -- The Federal Reserve Board last week approved applications by two Midwest banks to acquire stakes in competitors.

The Fed gave its approval to Peoples Bancorp of Marietta, Ohio, to acquire 11.675 of the voting shares of Woodsfield Savings and Loan of Woodsfield, Ohio. People's controls $386 million in deposits, Woodsfield has $13.1 million.

And, the board approved a bid by First National Corp. of Ardmore Inc., Ardmore, Okla. to purchase 36.4% of Bank of Love County, Marietta, Okla. Ardmore controls $122 million in deposits, Marietta, $21.6 million.

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