Cardinal Financial Gets Regulatory Approval For UFBC Acquisition - Quick Facts

(RTTNews) - Cardinal Financial Corp. (CFNL) Monday said it has received regulatory approvals from the Federal Reserve Bank of Richmond and the Virginia State Corp. Commission to acquire United Financial Banking Companies, Inc. (UFBC), the holding company of The Business Bank.

Cardinal Bank, the wholly-owned bank subsidiary of Cardinal Financial, has also received the necessary regulatory approvals from the Federal Deposit Insurance Corporation and the Virginia State Corp. Commission for the merger of TBB with and into Cardinal Bank.

The merger of UFBC with and into the company was approved by UFBC shareholders in December 2013. The acquisition is expected to close on January 15, 2014, while the merger of TBB with and into Cardinal Bank is expected to occur in early March 2014.