NEW YORK--The Federal Reserve Bank of New York Tuesday approved the application by Letchworth Independent Bancshares Corporation, Castile, NY, to acquire at least 61 percent of the common stock of The Mahopac National Bank, Mahopac, NY. According to standard procedure, the proposal cannot be completed for 15 days.

The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.

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