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TEAM BANK TO JOIN BANC ONE CORPORATION

 TEAM BANK TO JOIN BANC ONE CORPORATION
 COLUMBUS, Ohio, March 23 /PRNewswire/ -- Banc One Corporation


(NYSE: ONE) and Team Bancshares, a single bank holding company headquartered in Dallas, jointly announced today that they have signed a definitive agreement for the merger of Team Bank with Banc One. The announcement was made by John B. McCoy, chairman and chief executive officer of Banc One, and Ronald G. Steinhart, chairman and chief executive officer of Team Bancshares.
 Terms of the agreement call for the exchange of shares of Banc One common stock for each share of Team Bancshares. Total value of the transaction is $82 for each share of Team Bancshares stock, or approximately $782 million. The number of Banc One shares to be exchanged is subject to upward or downward adjustments of up to 10 percent of Banc One shares under certain conditions based on the market value of Banc One stock. The transaction is expected to be completed during the fourth quarter of 1992 and is subject to regulatory approval.
 Steinhart said, "We are delighted to become part of the growing Banc One family of banks across the Midwest and Texas. 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 a superior fashion."
 McCoy said, "This transaction is significant in that it is our first major in-market affiliation. Team bank strengthens our presence in Texas where it has the characteristics we have traditionally favored, including being a retail and middle-market lending organization." Team Bancshares has assets of $5.5 billion, making it the sixth largest bank in Texas.
 Harvey R. Mitchell, chairman of Bank One, Texas, said, "When the Team Bank affiliation is completed, Bank One, Texas will rank first in the number of branches in Austin and the Dallas/Ft. Worth area, and have over 50 offices in Houston. In addition, Bank One, Texas will be the second largest bank in the state with approximately $19 billion in assets and about 200 branches."
 Banc One Corporation had assets of $46.3 billion as of Dec. 31, 1991, including Bank One, Texas, and total equity of $3.4 billion. Banc One operates 57 banks with 869 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, investment and merchant banking, trust, brokerage, equipment leasing, mortgage banking, consumer finance and insurance.
 -0- 3/23/92
 /CONTACT: Dick Bryant of Bank One, Texas, 214-290-7975; John Russell of Banc One Corporation, 614-248-5989; or Carol Hall of Team Bancshares, 214-559-8006/
 (ONE) CO: Banc One Corporation ST: Ohio IN: FIN SU:


KK -- CL003 -- 0423 03/23/92 09:17 EST
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Publication:PR Newswire
Date:Mar 23, 1992
Words:464
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