Union Planters deal for Fidelity approved.

WASHINGTON -- The Federal Reserve Board said it has approved the application of Union Planters Corp. to acquire Fidelity Federal Bank, a thrift in Nashville.

Union Planters, with $3.8 billion in assets, has 21 banking subsidiaries in four states, including Union Planters National Bank of Memphis. Fidelity Federal is the fourth-largest thrift in Tennessee.

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