U.S. Fed approves merger request of two Texas banks

WASHINGTON Wed May 14, 2014 4:30pm EDT

WASHINGTON May 14 (Reuters) - The U.S. Federal Reserve said on Wednesday it had approved a merger request from Texas-based financial firms Cullen/Frost Bankers and WNB Bancshares.

The two firms announced the merger plans in August 2013. The Fed said their subsidiary banks, Frost Bank and Western National Bank, would also merge. Frost Bank, the surviving entity, would remain the sixth largest bank in Texas, the Fed said. (Reporting by Emily Stephenson; Editing by Sandra Maler)