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SHAWMUT TERMINATES MERGER DISCUSSIONS WITH BANK OF BOSTON

 SHAWMUT TERMINATES MERGER DISCUSSIONS WITH BANK OF BOSTON
 HARTFORD, Conn., Jan. 15 /PRNewswire/ -- Shawmut National Corporation (NYSE: SNC) today announced that it has terminated discussions with Bank of Boston Corporation relating to a proposed combination of the two New England bank holding companies.
 "As a result of Shawmut's financial recovery in recent quarters, including improvement in earnings, asset quality, loan loss reserve coverage and capital ratios, the interests of our shareholders will best be served by not pursuing a combination with Bank of Boston," said Joel B. Alvord, chairman and chief executive officer of Shawmut National Corporation.
 Alvord said Shawmut National will report fourth quarter and full year 1991 financial results within the next week that show a continuation of positive quarterly trends.
 Shawmut National Corporation is a superregional bank holding company with assets of $22.8 billion and headquarters in Hartford and Boston.
 -0- 1/15/92
 /CONTACT: Susan Rottner of Shawmut National, 203-772-9300/
 (SNC) CO: Shawmut National Corporation; Bank of Boston Corp. ST: Connecticut, Massachusetts IN: FIN SU: TNM


TS -- NY020 -- 9863 01/15/92 09:07 EST
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Publication:PR Newswire
Date:Jan 15, 1992
Words:180
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