KeyCorp, parent company of Key Bank of Utah, has received regulatory approval from the Federal Reserve Bank of New York to acquire First Wyoming Bancorp.

Pending approval by the Office of the State Examiner in Wyoming, closing of the merger is expected by Dec. 31.Under the terms of the agreement, First Wyoming Bancorporation shareholders will receive .765 of a share of KeyCorp common stock for each share they hold.

First Wyoming Bancorporation, with assets of $856 million and head- quartered in Cheyenne the largest multi-bank holding company in Wyoming.

Twenty-four Wyoming communities are provided financial services through 26 First Wyoming bank affiliates.

KeyCorp is a $13 billion financial services company headquartered in Albany.