Federal Reserve Board announces approval of application by Magnolia Banking Corporation

The Federal Reserve Board on Friday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by Magnolia Banking Corporation, Magnolia, Arkansas, to acquire Prescott Bancshares, Inc. (“Prescott”), and thereby indirectly acquire Prescott’s subsidiary bank, Bank of Prescott, both of Prescott, Arkansas.

Attached is the Board’s order relating to this action.

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