A Missouri law that prohibits banks from holding more than 13% of the state's deposits wasn't meant to exempt thrift acquisitions.

At least that's what Missouri's General Assembly has decided by voting to close a loophole in the law that had allowed banks to buy thrifts even when that would put them over the 13% limit. The General Assembly last month sent the measure to Gov. Mel Carnahan, who is expected to sign it.

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.