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JEFFERSON BANCORP TO AFFILIATE WITH BANC ONE CORPORATION

 JEFFERSON BANCORP TO AFFILIATE WITH BANC ONE CORPORATION
 COLUMBUS, Ohio, Dec. 19 /PRNewswire/ -- Banc One Corporation (NYSE: ONE) and Jefferson Bancorp, Peoria, Ill., jointly announced today that they have signed a definitive agreement for affiliation of Jefferson Bancorp. with Banc One. Jefferson Bancorp is a one-bank holding company owning more than 90 percent of Jefferson Bank in Peoria, Ill. The announcement was made by John B. McCoy, chairman and chief executive officer of Banc One, and Leonard B. Marshall Jr., chairman and chief executive officer of Jefferson Bancorp.
 Terms of the agreement call for the exchange of 10 shares of Banc One common stock for each share of Jefferson Bancorp. Total value of the transaction is approximately $28 million. The transaction is expected to be completed during the third quarter of 1992 and is subject to shareholder and regulatory approval.
 Marshall said, "We are delighted to become part of the growing Banc One presence in Illinois. We consider Banc One to be the premier banking organization in the United States. Affiliating with Banc One will enable us to continue our tradition of serving our communities and our customers in central Illinois in a superior fashion."
 McCoy said, "This affiliation, coupled with Marine Corporation in Springfield and First Illinois in Evanston, will allow us to expand our presence in Illinois which is one of our objectives. Jefferson has a strong position in Peoria with characteristics we have traditionally favored, including being a retail and middle-market lending organization."
 Jefferson Bancorp. has assets of $250 million and five banking offices in Peoria. Banc One Corporation has assets of $46.2 billion including Bank One, Texas, and total equity of $3.4 billion. Banc One operates 50 banks with 823 offices in Indiana, Illinois, Kentucky, Michigan, Ohio, Texas and Wisconsin. Banc One Corporation also operates several additional corporations that engage in data processing, venture capital, merchant banking, trust, investment management, brokerage, equipment leasing, mortgage banking, consumer finance and insurance.
 -0- 12/19/91
 /CONTACT: John Russell of Banc One Corporation, 614-248-5989, or Caryl A. Lane of Jefferson Bancorp, 309-672-6297/
 (ONE) CO: Banc One Corporation; Jefferson Bancorp. ST: Ohio; Illinois IN: FIN SU: TNM


LC -- CL019 -- 4091 12/19/91 16:39 EST
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Publication:PR Newswire
Date:Dec 19, 1991
Words:368
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