AMBANC Corp. announces completion of merger.

VINCENNES, Ind IND Investigational new drug Therapeutics A status assigned by the FDA to a drug before allowing its use in humans, exempting it from premarketing approval requirements so that experimental clinical trials may be conducted. See Phase 1.2, 3 studies, Sponsorship. .--(BUSINESS WIRE)--March 3, 1997--Robert G. Watson, chairman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AMBANC Corp. (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on SMALL CAPS See Small capital :AMBK), announced the successful completion of a merger between two affiliate banking companies.

Effective March 1, 1997, AmBank Illinois Illinois, river, United States
Illinois, river, 273 mi (439 km) long, formed by the confluence of the Des Plaines and Kankakee rivers, NE Ill., and flowing SW to the Mississippi at Grafton, Ill. It is an important commercial and recreational waterway. , of Casey, Ill., was merged into AmBank Illinois, N.A. of Robinson, Ill. The merger will consolidate the Illinois banking operations into a single national charter. In making the announcement Watson stated, "This was a natural step for us in achieving the operational efficiencies we need in our Illinois affiliates. This along with consolidating our product lines will result in a much better level of service to our customer base." AmBank Illinois, N.A. has assets of approximately $286,000,000 and operates 10 branches within Clark, Crawford and Wabash Counties Wabash County is the name of several counties in the United States:

Wabash County, Illinois
Wabash County, Indiana

of Illinois.

Robert E. Seed of Casey has been named president and CEO of the newly merged AmBank Illinois, N.A. Seed is the past chairman, president and CEO of AmBank Illinois.

AMBANC Corp. is a bank holding company with headquarters in Vincennes. Through its banking affiliates AmBank Indiana, N.A., and AmBank Illinois, N.A. they provide banking services with 25 branches in the two state area. They recently announced a 26th location in Evansville, Ind. within the new Wal-Mart Supercenter to be opened in mid-May 1997. AMBANC Corp. stock is publicly traded on the NASDAQ small caps market under the symbol AMBK.

CONTACT: AMBANC Corp., Vincennes

Walker Hatton, 812/885-6415

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Publication:	Business Wire
Date:	Mar 3, 1997
Words:	241
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Topics:	Bank holding companies Mergers, acquisitions and divestments Commercial banks

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