DAYTON, Ohio - Citfed Bancorp and PSB Holdings Corp. have gotten final regulatory approval to merge, the companies said.

The agreement remains subject to stockholder approval at meetings scheduled Aug. 18.

Citfed, which owns Citizens Federal Bank, is to acquire PSB, Xenia, Ohio, which owns Peoples Savings Bank. Citfed plans to swap 0.6734 share of its common stock for each PSB share in a tax-free exchange.

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