ST. LOUIS -- The Federal Reserve Bank of St. Louis said it has approved the merger of two Kentucky banks owned by PNC Financial Corp. of Pittsburgh.

Citizens Fidelity Bank and Trust Company-Oldham County, LaGrange, Ky., was allowed to merge into Citizens Fidelity Bank and Trust Co. of Louisville, which is PNC's lead bank in the state.

The LaGrange bank has about $150 million in assets. Its main office and three branches are becoming branches of the Louisville bank, which had $5 billion in assets at yearend.

The St. Louis Fed approved the application under authority delegated by the Federal Reserve Board in Washington

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