Printer Friendly

NATIONSBANK ANNOUNCES MNC FINANCIAL MERGER

 CHARLOTTE, N.C., Oct. 1 /PRNewswire/ -- NationsBank Corporation (NYSE: NB) announced that its merger with MNC Financial Inc. (MNC) became effective today.
 "I am pleased to officially welcome MNC customers to NationsBank," said Hugh McColl, NationsBank chairman and chief executive officer. "This merger not only brings them greater resources, but it also adds considerable value to the customers previously served by NationsBank in Maryland and the Metro D.C. area. Under the continued leadership of Frank Bramble and Harold Chandler, our professional depth and financial strength will make a difference in all these communities."
 As previously announced, MNC shareholders will receive for each common share either $15.17 cash or .2995 share of NationsBank common stock, depending on shareholder elections. The election deadline for MNC shareholders is Oct. 8.
 Based on second-quarter industry rankings, today NationsBank, with estimated assets of $155 billion, would be the third-largest U.S. banking company. NationsBank operates full-service banking offices in Maryland, Washington, D.C., Virginia, North Carolina, South Carolina, Georgia, Florida, Kentucky, Tennessee and Texas.
 -0- 10/1/93
 /CONTACT: Martha Larsh, 214-508-0633, or Dan Finney, 410-547-4038, both of NationsBank/
 (NB)


CO: NationsBank; MNC Financial Inc. ST: North Carolina IN: FIN SU: TNM

MM -- CH005 -- 7712 10/01/93 10:35 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 1, 1993
Words:208
Previous Article:CONTINENTAL INAUGURATES NEW FLIGHTS
Next Article:FIRST SOUTHERN BANCORP, INC. DECLARES QUARTERLY DIVIDEND
Topics:

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