NEW ORLEANS -- Hibernia Corp. said it has received approval from the Office of the Comptroller of the Currency to complete pending mergers with Bastrop (La.) National Bank and Commercial Bancshares of Franklin, La.

The acquisition of Bastrop National, a $122 million-asset bank in Morehouse Parish in northeastern Louisiana, is expected to be consummated by July 1, pending approval of Bastrop shareholders on June 14 and a 30-day waiting period required by the Department of Justice.

The acquisition of the $170 million-asset Commercial Bancshares in the Acadiana region is also expected to be completed by July 1, pending that bank's shareholder approval June 15, approval from the Federal Reserve, and the 30-day waiting period.

Two other Hibernia mergers - with First Bancorp of Louisiana in the northeastern part of the state and First National Bank of Jefferson Parish in suburban New Orleans - are still being reviewed by the Comptroller's office.

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