07:37 AM EDT, 06/07/2024 (MT Newswires) -- VersaBank ( VBNK ) said Friday it has secured the US Federal Reserve's approval to acquire Stearns Bank Holdingford.

The deal also requires the go-ahead from the Office of the Comptroller of the Currency, or OCC, the company said, adding that it expects a decision from the regulator "shortly."

VersaBank ( VBNK ) will seek Stearns Holdingford deal approval from the Office of the Superintendent of Financial Institutions, its Canadian regulator, immediately after a favorable decision from the OCC, the company said.