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CHEMICAL BANK AFFILIATE TO ACQUIRE AMERITRUST TEXAS CORPORATION

 NEW YORK, July 6 /PRNewswire/ -- Chemical Banking Corporation (NYSE: CHL) today announced that its affiliate, Texas Commerce Bank National Association (TCB), has agreed to acquire Ameritrust Texas Corporation, a unit of Society Corporation (NYSE: SCY).
 Ameritrust Texas Corporation is engaged in the delivery of personal, corporate and institutional trust and investment services, with more than $21 billion in total trust and custody assets, including approximately $5.5 billion in assets under management. Under the terms of the transaction, which is subject to regulatory approval, TCB will pay a purchase price of approximately $130 million, plus an amount equaling the net tangible equity of the unit on the date the transaction is completed.
 Chemical said that the transaction provides an attractive business opportunity for TCB and underscores Chemical's long-term commitment to Texas.
 -0- 7/6/93
 /CONTACT: John Meyers, 212-270-7454, Sarah Peterson, 713-216-5008, or John Borden (investors), 212-270-7318, all for Chemical Bank/
 (CHL SCY)


CO: Chemical Banking Corporation; Texas Commerce Bank National ST: New York, Texas IN: FIN SU: TNM

SH-LR -- NY009 -- 8518 07/06/93 09:15 EDT
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Publication:PR Newswire
Date:Jul 6, 1993
Words:178
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