Banc One Completes Acquisition of First Commerce in Louisiana.NEW ORLEANS--(BUSINESS WIRE)--June 12, 1998--Banc One Corporation (NYSE NYSE See: New York Stock Exchange :ONE) announced today that it has completed the acquisition of First Commerce Corporation, a multi-bank holding company headquartered in New Orleans New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded , Louisiana (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 :FCOM FCOM Facilities Capital Cost of Money FCOM Flight Crew Operating Manual FCOM Francesco WarCry Oscuro Martigen (The Elder Scrolls: Oblivion IV mod) ). Terms of the agreement call for First Commerce Corporation shareholders to receive 1.408 shares of Banc One stock for each share of First Commerce. The value of the transaction is approximately $3.5 billion based on Banc One's closing share price on Thursday, June 11, 1998. First Commerce will not change its name to Banc One, Louisiana until after systems conversion which is expected in the fourth quarter of 1998. Until that time, First Commerce and Banc One, Louisiana customers need to continue to complete their transactions at their current banking centers. John B. McCoy John B. McCoy was Chairman from November 1999 and Chief Executive Officer from October 1998 of BANK ONE CORPORATION (commercial and consumer bank) until his retirement in December 1999, and Chairman and Chief Executive Officer of its predecessor, BANC ONE CORPORATION, from 1987 to , Chairman and Chief Executive Officer of Banc One, said, "This is an important affiliation for us in that our state objective is to be one of the top three banks in the markets we serve. Banc One currently operates Banc One, Louisiana which has assets of approximately $5.5 billion. Combined, these two affiliates will become the largest bank in Louisiana, as well as the largest in seven of the top eight markets in the state." Ian Arnof, President and Chief Executive Officer of First Commerce Corporation, said, "We are very pleased to be joining Banc One, which has demonstrated an exceptional ability to dramatically improve operating performance of its affiliates. This association will permit us to play an even more significant role in the future growth of Louisiana CODE, OF LOUISIANA. In 1822, Peter Derbigny, Edward Livingston, and Moreau Lislet, were selected by the legislature to revise and amend the civil code, and to add to it such laws still in force as were not included therein. ." First Commerce Corporation had assets of approximately $9.4 billion as of March 31, 1998 and operates 144 banking centers and six banks throughout Louisiana. Banc One Corporation had managed total assets of $146.7 billion, total assets of $116.3 billion and common equity of $10.4 billion at March 31, 1998. Banc One operates more than 1,300 banking centers in 12 states. Banc One also owns several additional corporations that engage in a full range of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . Information about Banc One's financial results and its products and services can be accessed on the Internet at: http://www.bankone.com; through InvestQuest(TM) at: http://www.investquest.com; or through Fax-on-demand at: 614/844-3860. CONTACT: Banc One Corporation John A. Russell, 614/248-5989 or First Commerce Corporation Chris Spencer Chris Spencer may refer to:
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