The Federal Reserve Board has approved the application by United Community Banks, Inc., based in Greenville, South Carolina, to merge with ANB Holdings, Inc. This merger will facilitate the indirect acquisition of American National Bank, located in Oakland Park, Florida.
Additionally, the Board has authorized United Community Bank to merge directly with American National Bank. As part of this transaction, United Community Bank will establish and operate a branch at the American National Bank’s current location.
Federal Reserve Board made these announcements on Wednesday, underscoring the regulatory body’s approval for this financial consolidation effort.
