MIAMI -- Intercontinental Bank Holding Co. and Interstate Bank Holding Co. said their shareholders have approved the merger of Interstate and its majority-owned subsidiary, Bank of Coral Gables, into Intercontinental.

The merger should be completed July 1, the banks said. Based on the current price of Intercontinental common stock, the value of the transaction is estimated at $14.9 million, they said.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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