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Stock Market & Financial Investment News

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December 13, 2013
16:58 EDTUBSI, VCBIUnited Bankshares gets Fed approval for Virginia Commerce deal
United Bankshares (UBSI) and Virginia Commerce Bancorp (VCBI) received regulatory approval from the board of governors of the Federal Reserve System for the merger of Virginia Commerce with and into George Mason Bankshares, a wholly-owned direct subsidiary of United. United and Virginia Commerce previously received the necessary regulatory approval for the merger from the Virginia State Corporation Commission, and each of Unitedís and Virginia Commerceís shareholders approved the merger in October. With the Federal Reserve Board approval, all regulatory and shareholder approvals required for consummation of the merger have now been obtained.
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