LITTLE ROCK, ARK. -- First Commercial Corp. said that its application to acquire Farmers and Merchants Bank of Rogers, Ark., was approved by the Federal Reserve Board.

First Commercial said the agreement calls for the acquisition of all Farmers and Merchants shares owned by Lynxx Banking Corp., which owns more than 99% of the outstanding Farmers and Merchants shares.

Lynxx is a subsidiary of United Federal Savings and Loan Association, Jonesboro, Ark.

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