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TEXAS COMMERCE BANCSHARES NOT TO ACQUIRE NEW FIRST CITY

 HOUSTON, Texas, Feb. 17 /PRNewswire/ -- Texas Commerce Bancshares, Inc. (TCB), the Texas unit of Chemical Banking Corporation (NYSE: CHL), today announced that it will not acquire the New First City, Texas bank in El Paso from the Federal Deposit Insurance Corporation (FDIC). TCB said that this action was due to anti-trust objections expressed by the U.S. Department of Justice.
 TCB also confirmed that the FDIC has entered into an agreement to sell New First City, Texas - El Paso, N.A., which has total deposits of approximately $0.3 billion, to Sunwest Bank of El Paso for the same amount that TCB was to have paid for the bank. Sunwest is a wholly- owned subsidiary of Boatmen's Bancshares, Inc. of St. Louis, Missouri.
 On Saturday, Feb. 13, TCB completed its acquisitions from the FDIC of the New First City, Texas banks in Houston and Dallas/Fort Worth with no anti-trust objections. The total deposits of these two banks are approximately $3.2 billion.
 -0- 2/17/93
 /CONTACT: John Meyers of New York, 212-270-7454, or Sarah Peterson of Houston, 713-216-5008, both of Chemical Banking Corporation/
 (CHL)


CO: Texas Commerce Bancshares, Inc. ST: Texas IN: FIN

TM-KW -- NY108 -- 7527 02/17/93 16:52 EST
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Publication:PR Newswire
Date:Feb 17, 1993
Words:204
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