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FDIC OKs bank merger

Wednesday, April 3, 2002 | 11:05 a.m.

The Federal Deposit Insurance Corp. last week approved Bank of Nevada's request to merge with Mesquite State Bank.

John Gaynor, president of Bank of Nevada, said the deal must still be approved by stockholders of both banks during their scheduled April 17 meetings. He expects such approval, however, and said the deal should be finalized around May 1.

Mesquite State Bank would operate as a branch of Bank of Nevada following the merger, Gaynor said. The banks have a combined total of two branches and about 40 employees.

Las Vegas-based Bank of Nevada reported assets of $53.5 million at the close of last year, the FDIC said. Bank of Mesquite listed assets of $50.5 million.

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