South Branch Valley Corp., Moorefield. W.Va., has applied to the Federal Reserve to acquire the remaining 60% stake in Capital State Bank in Charleston, W.Va.

South Branch Valley, with assets of $127 million, acquired 40% of $40 million-asset Capital State this year for about $5 million. According to Capital State chief executive officer Michael H. Hudnall, South Branch has offered $7.9 million-$11.01 per share-for the remaining shares of two-year- old Capital State.

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