The Federal Reserve Board gave First Union Corp. permission Tuesday to acquire Signet Banking Corp.

To gain approval, $137 billion-asset First Union, Charlotte, N.C., agreed to divest four Signet branches in Virginia.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.