WASHINGTON -- A farm credit bank with $7.1 billion in assets will be created with the merger of two members of the Farm Credit System, the system announced last week.

The Farm Credit Bank of Omaha and the Farm Credit Bank of Spokane said they intend to merge on March 31, 1994, pending approval of regulators as well as stockholders in both banks.

No decision has been made on the location of the new bank, but James D. Kirk, current president of the Omaha Bank, will be president of the merged bank, the system announced.

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