Printer Friendly

BANC ONE TO ACQUIRE FIRST FINANCIAL ASSOCIATES IN KENOSHA

 COLUMBUS, Ohio, Dec. 22 /PRNewswire/ -- Banc One Corporation (NYSE: ONE) and First Financial Associates, Inc., Kenosha, Wis., jointly announce today that they have signed a letter of intent for affiliation of First Financial Associates, Inc. with Banc One. First Financial Associates will become an affiliate of Banc One Wisconsin Corporation.
 Terms of the agreement call for the exchange of Banc One common stock shares for shares of First Financial Associates. The transaction, valued at $76.7 million, is expected to be completed during the third quarter of 1993 and is subject to shareholder and regulatory approval.
 "We chose to be affiliated with Banc One because of its solid reputation and proven ability to provide value to our shareholders, customers and employees," stated Rudolph F. Scuglik, president and chairman of First Financial Associates, Inc.
 Frederick L. Cullen, chairman of Banc One Wisconsin Corporation, stated that this acquisition will enable Banc One to expand its service area in Kenosha which is a fast growing market in Wisconsin. "We are excited about First Financial joining the family of Banc One banks. This affiliation will allow us to jointly offer the residents and businesses of Kenosha County our premiere banking services and products," Cullen continued.
 First Financial's banking affiliate, First National Bank of Kenosha, will become Banc One, Kenosha and continue to be administered by Scuglik who will remain as president and chairman. In addition, other employees are expected to continue as employees of Banc One, Kenosha.
 First National Bank of Kenosha has seven offices in Kenosha with assets of $406 million. After the merger, customers will be able to conduct their banking at any Banc One office located in Kenosha County. Banc One Wisconsin Corporation is the third largest bank holding company in Wisconsin with 90 banking offices.
 Banc One Corporation has assets of $51.2 billion as of Sept. 30, 1992, and total equity of $4.5 billion. Banc One operates 62 banks with 1,017 offices in Colorado, Illinois, Indiana, Kentucky, Michigan, Ohio, Texas and Wisconsin. Banc One Corporation also operates several additional corporations that engage in data processing, venture capital, investment and merchant banking, trust, brokerage, equipment leasing, mortgage banking, consumer finance and insurance.
 -0- 12/22/92
 /CONTACT: John Russell of Banc One Corp., 614-248-5989, or Kelly Skindzelewski of Banc One Wisconsin, 414-765-2566, or Rudolph Scuglik of First Financial Associates, 414-658-2331/
 (ONE)


CO: Banc One Corporation ST: Ohio IN: FIN SU: TNM

TM -- CL016 -- 9373 12/22/92 19:33 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 22, 1992
Words:412
Previous Article:TUBOSCOPE VETCO INTERNATIONAL ANNOUNCES FILING OF REGISTRATION STATEMENT
Next Article:THE SUMITOMO BANK LTD. TO ACQUIRE ADDITIONAL CPB INC. STOCK
Topics:


Related Articles
BANC ONE CONFIRMS PURCHASE OF $65 MILLION CAPITAL NOTES IN PREMIER
ASSOCIATED BANC-CORP COMPLETES MERGER OF NORTHEAST WISCONSIN FINANCIAL SERVICES
ASSOCIATED BANC-CORP EXPANDS DOWNTOWN CHICAGO BASE
BANC ONE PENDING APPLICATIONS APPROVED BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE
FIRSTIER FINANCIAL TO JOIN BANC ONE
DCR: The Merger Wave - Will Other Monoline Credit Card Issuers Follow First USA's Lead?
Banc One Capital Corporation Announces Intent to Acquire Fitzgerald, Davis & Associates
Community First Bankshares to Purchase 37 Western Branch Offices From Banc One
First Commerce in Louisiana to Join Banc One Corporation
Community First Bankshares, Inc. Acquires 37 Offices From BANC ONE CORPORATION

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters