Analysis of information sources in references of the Wikipedia article "Bank One Corporation" in English language version.
Banc One on Tuesday announced an agreement to buy Money Management Corp., a holding company based in Merrillville, Ind., which owns Bank of Indiana, the second-largest bank in Lake County, with 14 branches in addition to its headquarters office in Gary. The agreement, which involves a tax-free stock transaction valued at $27.3 million, calls for Banc One to exchange 0.75 common share for each of the 1,508,651 shares of Money Management common stock outstanding and 176,808 shares to be issued upon conversion of a preferred stock issue. Money Management has total assets of about $346 million.
Banc One Corp., Columbus, Ohio, is buying two Indiana banks--Charter 17 in Richmond, a bank holding company with $194 million in assets, for stock worth $38.5 million, and Northwest National Bank in Rensselaer, with $95 million in assets, for stock worth $11.8 million.
Banc One Corp. of Columbus, Ohio, acquired East Lansing State Bank of Michigan, which will be known as Bank One, East Lansing.
Banc One Corp. of Columbus, Ohio, plans to buy Universal Corp. of Ypsilanti, Mich., in a stock deal valued at about $13 million. Universal owns National Bank of Ypsilanti, which has eight offices and assets of $106 million.
{{cite book}}: |work= ignored (help)MNet will include at least 12 other units, with operations ranging from credit cards and electronic banking to mortgages and insurance
Columbus, Ohio-based Banc One Corp. said it will acquire Affiliated Bankshares of Colorado in a $378-million transaction. Affiliated Bankshares has $2.8 billion in assets and operates 27 affiliate banks with 38 offices in Colorado.
Banc One Buys 58 Great American Branches: Banc One Corp. purchased the Arizona branches of San Diego-based Great American Bank, which was seized by federal regulators in 1991.
Last April, Marine Corp. became the first bank holding company in Wisconsin to announce an interstate bank acquisition in the Midwest after passage of Wisconsin's interstate banking law. Marine said it agreed to acquire the Community State Bank of Bloomington, a bank with $200 million in assets.
Marine completed its acquisition of the Community State Bank of Bloomington, Minn., during the quarter.
Banc One Corp., moving to consolidate its presence in Indiana and expand into Kentucky, is acquiring two bank holding companies in those states with assets of almost $400 million. KYNB Bancshares Inc., Lexington, Ky., and the First Crawfordsville Financial Corp., Crawfordsville, Ind., have agreed to become part of the Columbus-based Banc One Corp. KYNB Bancshares is the parent of Citizens Union National Bank & Trust Co., Lexington, which has $260 million in assets and 11 offices. It is the third-largest financial institution in Lexington and the 10th largest in Kentucky. Financial terms were not revealed... First Crawfordsville Financial Corp. is the parent of the $125 million First National Bank and Trust Co. of Crawfordsville. The bank has four offices. Banc One will exchange 12 shares of its stock for each share of First Crawfordsville stock. At a current Banc One market price of $23.50, the transaction is valued at $21.9 million.
Indiana's largest bank and Ohio's second-largest bank holding company merged Monday, and chairmen of the two companies promised to expand as much as the law would allow. American Fletcher Corp. became a wholly-owned subsidiary of Banc One Corp. of Columbus, Ohio, in a stock transaction valued at $552 million, American Fletcher chairman Frank E. McKinney Jr. said. Banc One Corp. is the owner of Bank One Merrillville, formerly Bank of Indiana... American Fletcher Corp., which owns American Fletcher National Bank of Indianapolis and four other banks in Indiana, was renamed Banc One Indiana Corp., McKinney said Monday at a news conference. American Fletcher National Bank will be known as Bank One Indianapolis, he said. Signs reflecting the change will be erected at the bank's branches starting Feb. 16, he said. The other banks owned by American Fletcher will also change their names to Bank One and the name of their home cities. They are Carmel Bank and Trust Co., Citizens Northern Bank of Elkhart, Union Bank and Trust Co. of Franklin and First American National Bank of Plainfield. Four other Indiana banks already owned by Banc One, in Crawfordsville, Lafayette, Marion, and Merrillville, will become affiliates of Banc One Indiana Corp. later this year, McKinney said. Banc One also has acquisitions pending in Rensselaer, Bloomington, and Richmond. Once those deals are completed, Banc One Indiana will control 10.8 percent of the total deposits in Indiana banks, McKinney said.
In the first announcement of a planned bank acquisition under Minnesota's new interstate banking law, Community State Bank of Bloomington is to be acquired by Marine Corp. of Milwaukee. Marine Corp. is the third-largest bank holding company in Wisconsin, with assets of $3.9 billion as of March 31. The acquisition also would make Marine the third-largest bank holding company with banks in Minnesota after First Bank System, Inc., and Norwest Corp. Marine owns the $1.6 billion Marine Bank in Milwaukee and 21 other Wisconsin banks, with a total of 74 locations. It would take over Community State Bank in exchange for stock. The terms were not revealed. The acquisition must be approved by regulators and cannot be completed until January when Wisconsin's interstate banking law takes effect. Community State is the largest state-chartered bank in Minnesota, with assets of $191 million as of March 31. Its main office is located at 9633 Lyndale Av. S., and it operates branches in Apple Valley and western Bloomington. Limited interstate banking was approved by both the Minnesota and Wisconsin Legislatures earlier this year. Each law allows the acquisition of banks across state lines with other Midwestern states that pass similar laws. The Minnesota law is limited to the four bordering states, and Wisconsin is the only one of those states that has passed such legislation.
Marine Corp. of Milwaukee, Wis., has agreed to relinquish the first bank acquired under Minnesota's 1986 interstate banking law if Marine is bought by an Ohio firm. Marine and Banc One Corp. of Columbus signed an agreement Friday to sell the former Community State Bank of Bloomington within two years after their merger if the Minnesota law is not amended. The law's so-called "antileapfrogging" provision bans acquisitions by banking companies whose headquarters lie outside the five-state region outlined in the law... The 1986 law forbids a company to buy a bank in a state eligible under the law and then use that bank to "leapfrog" into Minnesota. The 1986 law allowed interstate acquisitions of banks with any of Minnesota's four neighboring states that passed similar legislation. Wisconsin is the only state to do so. Marine acquired Community State Bank for $24 million last February, months before it announced a merger agreement with Banc One. The law is silent on whether later mergers of out-of-state companies would constitute leapfrogging.
After more than 15 months, shareholders of Mercantile Texas Corp. and Southwest Bancshares Inc. voted to merge their companies -- creating MCorp. The new firm, with 65 subsidiary banks and $20.4 billion in assets, now ranks among the largest Texas bank-holding companies. The use of "M' in the company's name is to be followed in designating its banks as MBanks and other subsidiaries with similar names -- such as its electronic banking unit, MTech. The "M' comes from the familiar Mercantile advertising slogan, "Momentum.
The sale would nearly double the Texas branches of Bank One, a unit of Banc One Corp. of Columbus, Ohio. Banc One entered the Texas market in June when it agreed to buy 20 failed banks formerly owned by MCorp. Bright Banc's franchise particularly would enhance Bank One's presence in Dallas, where the thrift owns about 40 branches. Bright Banc operates in 51 locations around the state and Banc One in 63.
Banking regulators sold Benjamin Franklin Federal Savings Association on Friday to Bank One Texas, ending the federal government's 2 1/2-year ownership of one of Houston's largest savings and loans. The RTC will advance Bank One $1.39 billion for the deal and will retain $1.2 billion in Ben Franklin's assets. After selling those assets, the RTC expects it will have spent $976 million on the deal.
Bank One Texas expanded its Houston franchise Friday with the purchase of 13 branches of the failed Benjamin Franklin Federal Savings Association. In the process, the Dallas-based bank also picked up $1.47 billion in deposit accounts from the thrift. The Resolution Trust Corp., which pays out cash to cover depositors at failed thrifts, said the institution's collapse will cost taxpayers $976 million.
Bank One Arizona, attracted by a network of bank branches in grocery stores, yesterday bought 58 of Great American Bank's 60 Arizona offices from the Resolution Trust Corp.
Baton Rouge-based Premier Bancorp Inc. expects to receive $65 million from Banc One Corp. and merge within five years into the Columbus, Ohio, bank holding company -- one of the nation's largest -- under terms announced by Premier on Wednesday.
Premier Bancorp Inc. of Baton Rouge announced that it has agreed to be acquired in the mid-1990s by the $32-billion asset Banc One Corp., based in Columbus, Ohio. Premier is Louisiana's third-largest banking company, after Hibernia Corp. and First Commerce Corp., both of New Orleans. First Commerce is the owner of First National Bank of Commerce.
For the first nine months of 1986, MCorp reported a net loss of $91 million after adding $321 million to its reserve to cover possible loan losses. Earlier this month, the company suspended payment of its common stock dividend.
Lomas & Nettleton Financial Corp., the Dallas-based financial services and mortgage banking company, has announced it is dropping the "M' designated names associated with its retail banking company and its subsidiaries. The banking unit, now called MNet, took its M name from its former parent MCorp., the Dallas bank-holding company whose advertising slogan and corporate identity is based on the word Momentum. The retail banking unit, which was acquired by Lomas in 1986, will be called Lomas Bankers Corp. effective Nov. 1.
MNet, a financial services subsidiary of Lomas & Nettleton Financial Corp. of Dallas, announced Wednesday that its credit-card subsidiary will purchase for $143 million the outstanding credit card accounts of two Oklahoma banks. MNet's subsidiary, MBank USA, signed a letter of intent with Liberty National Bank and Trust of Oklahoma City and First National Bank and Trust of Tulsa to buy about 260,000 Visa and MasterCard accounts.
National Bancshares Corp. of San Antonio has agreed to sell its 90,000-customer credit card business for $46 million to MNet, the retail banking subsidiary of Lomas & Nettleton Financial Corp. of Dallas.
Two months after announcing the deal, Lomas Financial Corp. has completed its sale of the company's retail banking operation to an investor group set up by Merrill Lynch Capital Partners Inc. The Merrill Lynch group bought Lomas Bankers Corp. for $435 million in cash and $65 million in preferred stock. Lomas will use net proceeds from the sale to pay off a $375 million bridge loan the company received last month "for liquidity purposes" and to reduce other corporate debts, according to Lomas chairman Jess Hay. Lomas Bankers, one of the country's largest credit-card operators, has 1.7 million in MasterCard and Visa accounts totaling $1.35 billion in receivables.
The new owner of Lomas Bankers Corp., formerly owned by the now-bankrupt Lomas Financial Corp., on Thursday said the bank would be renamed First USA. A group led by Merrill Lynch Capital Partners Inc., part of the investment firm based in New York, bought the bank in August from Lomas Financial. Lomas Bankers' primary subsidiary, Lomas Bank USA, ranks as the nation's 11th-largest issuer of credit cards. On June 30, the Delaware-based institution served 1.7 million credit-card accounts with outstanding receivables of $1.35 billion. The subsidiary bank will be called First USA Bank, and nine affiliated companies will get similar monikers. Lomas Financial sold the parent bank for $435 million in cash and $65 million in 10-year redeemable preferred stock.
Dallas-based First USA, taken private in a 1989 buyout, is planning a stock offering that will triple the investment of its current owners... First USA is in the business of issuing credit cards, the most lucrative side of U.S. banking these days. First USA ranks as the nation's 14th-largest issuer of Visa and MasterCard accounts, having distributed 2.9 million cards with outstanding balances of $2.2 billion... In a business where a bank hopes to earn a profit equal to 1 percent of its assets, First USA Bank makes at least twice that much. In the last six months of 1991, the bank generated a return of nearly 25 percent on its owners' investment... The bank's parent company has made less money, even dipping into the red in 1990. But that's because the parent company must pay interest on loans it borrowed to buy First USA in the 1989 buyout. The new stock offering should help reduce that debt load... Huge profits on credit cards have not come without controversy. Congress angered at card rates as high as 22 percent, last November threatened to put a cap on the interest that banks can charge for Visas and MasterCards... Lomas, of course, failed in 1989, but not before selling its credit-card bank to a group led by Mr. Tolleson and other managers.
On its second try, First USA on Wednesday sold a piece of itself to the public, raising nearly $43 million in its initial stock offering... First USA has said it will use most of the cash to buy back common and preferred stock now held by Lomas Financial Corp., which once owned First USA. First USA began in 1985 as the credit-card subsidiary of MCorp. The company now ranks as the nation's 14th-largest credit-card company with 3 million Visa and MasterCard accounts and total balances of $2.2 billion... On Wednesday, First USA sold 4 million shares to the public at a price of $9.50 a share. First USA officers and Merrill Lynch bought another 500,000 shares of non-voting stock as part of the sale. First USA's management includes former MBank executive John C. Tolleson, who was a principal in the First USA buyout from Lomas. Mr. Tolleson is chairman and chief executive officer of First USA. After Wednesday's sale, the public will hold about 20 percent of First USA. Merrill Lynch and affiliates will remain the dominant owners with little more than half of the company's shares, management will retain about 8 percent, with the rest spread among other shareholders.
Citizens Banking Corp., based in Flint, has bought four Michigan banks from Banc One Corp. for $115 million. The four banks, in East Lansing, Fenton, Sturgis and Ypsilanti, will add 21 branches with $680 million in assets to Citizens. The transaction, expected to close before the end of the year, increases Citizens' assets by 25 percent, to $3.5 billion from $2.7 billion... A Banc One spokesperson said it decided the money realized from the sale, which had been in the works for about five months, could be better utilized in other areas. But he emphasized that Banc One did not rule out returning to branch banking in Michigan.
...But that changed when MCorp, a Dallas-based bank holding company, began setting up MBank USA. While other banks started slowly, MBank hit the ground running.
The Banc One Corporation, a bank holding company in Columbus, Ohio, yesterday announced an agreement to acquire the Dayton-based Winters National Corporation for $122.1 million in stock. The merger would raise Banc One's assets to $6.2 billion, from $4.6 billion, and make it Ohio's largest banking organization.
The Banc One Corporation, the fast-growing bank holding company based in Columbus, Ohio, said it had agreed to acquire the First National Corporation, which owns the First National Bank of Bloomington, Ind. Shareholders of First National, which has $241 million in assets and nine offices, will get about $52 million in Banc One stock.
The bank, like an increasing number of small-town banks, went to the big city and joined a registered bank holding company, an arrangement with advantages to both sides. Such multi-bank holding companies usually involve a large metropolitan bank - in this case the City National Bank in Columbus - and a number of smaller banks in markets. The plan helps the big banks tap markets normally closed to them by restrictive state branch banking laws and gives the smaller banks needed expertise, management talent, and back-up lending ability.Alternate Link(subscription required) via ProQuest.
Security Central National, with resources of more than $60 million, has five offices in Portsmouth and surrounding Scioto County. First Banc Group already has eight member banks. The merger of Security Central National is expected "in the next several months."Alternate Link(subscription required) via ProQuest.
Changed name in October from First Banc Group of Ohio Inc.Alternate Link(subscription required) via ProQuest.
First Banc Group of Ohio Inc. said it plans to change its name and the names of its 18 banks to provide a "common identity in a response to the new Ohio branching law." The bank holding company will be renamed Banc One, and each of the company's banks will be known as Bank One followed by the name of the local community.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it agreed in principle to acquire Lake County National Bank in Painsville in an exchange of stock. ...the transaction has an indicated value of $32.7 million. Lake County National...has assets of $411 million.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it agreed in principle to acquire Firestone Bancorp., Akron Ohio, in a stock transaction valued at $41.4 million. The bank has assets of about $4000 million.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it agreed in principle to acquire Union National Bank of Youngstown, Ohio, in a stock transaction valued at about $37 million. Union National, which has $314 million in assets, is Banc One's third pending acquisition in the area.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it agreed in principle to buy Dayton, Ohio based Winters National Corp. for $122.1 million in stock in a major strategic move to prepare for interstate banking. Banc One's proposed purchase of the bank holding company that lists $1.6 billion in assets would give it entries into Dayton, Cleveland, and Cincinnati. Banc One would also become Ohio's largest banking organization. Currently Bank One, with 4.6 billion in assets, in the state's fourth-largest banking concern. Winters National Bank & Trust Co., Winters' lead bank, is dominant in the greater Dayton area with 42 offices. It also operates 21 Euclid National Bank offices in the Cleveland area. Winters just opened an office in Cincinnati this year and also operates three offices in Circleville, Ohio.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it agreed to acquire Purdue National Corp., Lafayette, Ind., in a stock swap valued at $32.1 million. It would be Banc One's first out-of-state acquisition. Purdue National, with assets of $354 million, is the parent of Purdue National Bank.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it agreed to acquire two bank companies -- one in Indiana, the other in Kentucky. The moves mark the bank holding company's first foray into Kentucky and its fourth in Indiana. Banc One agreed to buy closely held KYNB Bancshares Inc., Lexington, Kentucky, parent of Citizens Union National Bank & Trust Co., which has assets of $260 million. Terms weren't disclosed. It also agreed to acquire First Crawfordsville Financial Corp., Crawfordsville, Ind., parent of First National Bank and Trust Co. of Crawfordsville, in an exchange of stock.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it completed the previously announced acquisitions of Citizens Union National Bank in Lexington, Ky., and Purdue National Bank of Lafayette, Ind. Terms weren't disclosed. Citizens Union National renamed Bank One Lexington, had $246.2 million in assets as of March 31. Purdue National, renamed Bank One of Lafayette, had assets of $372.2 million at the end of the first quarter.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it agreed in principle to acquire Marion Bancorp in a stock transaction valued at $10.3 million. Marion, the parent of First National Bank, is based in Marion, Ind., and has $111 million in assets and operates five offices. The agreement marks the third move by Banc One into the Indiana market. Banc One also has pending merger agreements with Purdue National Corp. of Lafayette, Ind., and Money Management Corp. of Merrillville, Ind.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it agreed in principle to acquire two Indiana banking concerns for stock valued at $50.3 million. The concerns to be acquired are Chapter 17 Bancorp Inc., a Richmond bank holding company, for about $38.5 million in stock, and Northwest National Bank of Rensselaer, for about $11.8 million. Chapter 17, the parent of First National Bank of Richmond, has $194 million in assets and, through a pending merger with another Indiana bank, will add about $54 million in assets. Northwest National has $95 million in assets.Alternate Link(subscription required) via ProQuest.
Richmond, Ind.-based First National, with assets of $223.7 million, will operate with current personnel as Bank One, Richmond. Northwest National, with assets of $103.2 million, will operate as Bank One, Rensselaer.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it agreed in principle to acquire First National Corp., parent of Bloomington, Ind.-based First National Bank, in a stock swap valued at about $52 million. The proposed acquisition puts Banc One at the Indiana state-mandated ceiling of 11% of deposits that any institution can own in that state. It effectively blocks the bank holding company from making any more acquisitions in Indiana. First National has $241 million in assets and operates nine banking offices. Banc One nearly reached the ceiling earlier this year when it agreed to acquire Indianapolis-based American Fletcher Corp. in a stock swap valued at $597.3 million. American Fletcher, a bank holding company, has assets of about $4.1 billion.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it completed the previously announced acquisition of First National Bank of Fenton, Mich., in a stock swap valued at $6.1 million. The Fenton bank, with year-end assets of $80 million, is Banc One's third Michigan affiliate.Alternate Link(subscription required) via ProQuest.
Banc One Corp said that the $823 million stock swap in which it will purchase Liberty National Bancorp of Louisville KY will be completed Aug 15, 1994.Alternate Link(subscription required) via ProQuest.
Lomas & Nettleton Financial Corp. said it will rename its MNet unit Lomas Bankers Corp., effective Nov. 1. Lomas & Nettleton acquired MNet, formerly the retail banking and credit card operation of MCorp, a Dallas bank holding company, last Dec. 30.Alternate Link(subscription required) via ProQuest.
A Lomas & Nettleton Financial Corp. subsidiary agreed to buy 230,000 Visa and MasterCard accounts from two Louisiana Bancshares Inc. units for $182.1 million. The subsidiary, MNet, signed a letter of intent to buy the credit card accounts from Louisiana National Bank and Guaranty Bank & Trust. MNet's credit card operation currently has 800,000 accounts.Alternate Link(subscription required) via ProQuest.
MBank USA, a unit of Lomas & Nettleton Financial Corp., said it agreed to buy the credit card portfolio of First National Bank of Amarillo for $12.7 million. Under terms of the contract, MBank will acquire 23,000 credit card accounts.Alternate Link(subscription required) via ProQuest.
Lomas & Nettleton Financial Corp. said its MBank USA subsidiary signed a letter of intent to buy the credit-card accounts of Banks of Mid-America Inc. for $143 million. The 260,000 Visa and MasterCard accounts will bring the total number of card accounts managed by MBank USA to more than 1.3 million. The accounts currently are managed by Banks of Mid-America's two banks, Liberty National Bank & Trust of Oklahoma City and First National Bank & Trust of Tulsa. The accounts have about $120 million in loans outstanding, said a spokesman for Banks of Mid-America, based in Oklahoma City.Alternate Link(subscription required) via ProQuest.
Lomas & Nettleton Financial Corp., Dallas, said its Lomas Bank USA unit agreed definitively to buy part of the credit card portfolio of Dollar Dry Dock Bank of White Plains, N.Y., for $107 million. Lomas said the purchase will add about 80,000 credit card accounts to the company's current portfolio of about 1.6 million accounts. The sale is expected to be completed today.Alternate Link(subscription required) via ProQuest.
Yet lenders at times seem oblivious to their borrowers' credit histories. Joe Tyson, a Houston resident who trains paramedics, was surprised recently when offered an MBank credit card. He had had an MBank card until two years ago when he ran up a $5,000 bill on it and could no longer make his payments. Now, he is in a stretched-out repayment plan negotiated by a credit-counseling agency. "When I got the offer, I figured that it must have been some sort of computer glitch," says Mr. Tyson, who tossed the mailing out. MBank sold its credit-card business to Lomas Financial Corp. in 1986, and a spokesman for the Dallas-based company's Lomas Bank USA says, "I don't quite understand how he could have gotten such an offer. We generally pre-screen applicants."Alternate Link(subscription required) via ProQuest.
The bank, like an increasing number of small-town banks, went to the big city and joined a registered bank holding company, an arrangement with advantages to both sides. Such multi-bank holding companies usually involve a large metropolitan bank - in this case the City National Bank in Columbus - and a number of smaller banks in markets. The plan helps the big banks tap markets normally closed to them by restrictive state branch banking laws and gives the smaller banks needed expertise, management talent, and back-up lending ability.Alternate Link(subscription required) via ProQuest.
Security Central National, with resources of more than $60 million, has five offices in Portsmouth and surrounding Scioto County. First Banc Group already has eight member banks. The merger of Security Central National is expected "in the next several months."Alternate Link(subscription required) via ProQuest.
Changed name in October from First Banc Group of Ohio Inc.Alternate Link(subscription required) via ProQuest.
First Banc Group of Ohio Inc. said it plans to change its name and the names of its 18 banks to provide a "common identity in a response to the new Ohio branching law." The bank holding company will be renamed Banc One, and each of the company's banks will be known as Bank One followed by the name of the local community.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it agreed in principle to acquire Lake County National Bank in Painsville in an exchange of stock. ...the transaction has an indicated value of $32.7 million. Lake County National...has assets of $411 million.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it agreed in principle to acquire Firestone Bancorp., Akron Ohio, in a stock transaction valued at $41.4 million. The bank has assets of about $4000 million.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it agreed in principle to acquire Union National Bank of Youngstown, Ohio, in a stock transaction valued at about $37 million. Union National, which has $314 million in assets, is Banc One's third pending acquisition in the area.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it agreed in principle to buy Dayton, Ohio based Winters National Corp. for $122.1 million in stock in a major strategic move to prepare for interstate banking. Banc One's proposed purchase of the bank holding company that lists $1.6 billion in assets would give it entries into Dayton, Cleveland, and Cincinnati. Banc One would also become Ohio's largest banking organization. Currently Bank One, with 4.6 billion in assets, in the state's fourth-largest banking concern. Winters National Bank & Trust Co., Winters' lead bank, is dominant in the greater Dayton area with 42 offices. It also operates 21 Euclid National Bank offices in the Cleveland area. Winters just opened an office in Cincinnati this year and also operates three offices in Circleville, Ohio.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it agreed to acquire Purdue National Corp., Lafayette, Ind., in a stock swap valued at $32.1 million. It would be Banc One's first out-of-state acquisition. Purdue National, with assets of $354 million, is the parent of Purdue National Bank.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it agreed to acquire two bank companies -- one in Indiana, the other in Kentucky. The moves mark the bank holding company's first foray into Kentucky and its fourth in Indiana. Banc One agreed to buy closely held KYNB Bancshares Inc., Lexington, Kentucky, parent of Citizens Union National Bank & Trust Co., which has assets of $260 million. Terms weren't disclosed. It also agreed to acquire First Crawfordsville Financial Corp., Crawfordsville, Ind., parent of First National Bank and Trust Co. of Crawfordsville, in an exchange of stock.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it completed the previously announced acquisitions of Citizens Union National Bank in Lexington, Ky., and Purdue National Bank of Lafayette, Ind. Terms weren't disclosed. Citizens Union National renamed Bank One Lexington, had $246.2 million in assets as of March 31. Purdue National, renamed Bank One of Lafayette, had assets of $372.2 million at the end of the first quarter.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it agreed in principle to acquire Marion Bancorp in a stock transaction valued at $10.3 million. Marion, the parent of First National Bank, is based in Marion, Ind., and has $111 million in assets and operates five offices. The agreement marks the third move by Banc One into the Indiana market. Banc One also has pending merger agreements with Purdue National Corp. of Lafayette, Ind., and Money Management Corp. of Merrillville, Ind.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it agreed in principle to acquire two Indiana banking concerns for stock valued at $50.3 million. The concerns to be acquired are Chapter 17 Bancorp Inc., a Richmond bank holding company, for about $38.5 million in stock, and Northwest National Bank of Rensselaer, for about $11.8 million. Chapter 17, the parent of First National Bank of Richmond, has $194 million in assets and, through a pending merger with another Indiana bank, will add about $54 million in assets. Northwest National has $95 million in assets.Alternate Link(subscription required) via ProQuest.
Richmond, Ind.-based First National, with assets of $223.7 million, will operate with current personnel as Bank One, Richmond. Northwest National, with assets of $103.2 million, will operate as Bank One, Rensselaer.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it agreed in principle to acquire First National Corp., parent of Bloomington, Ind.-based First National Bank, in a stock swap valued at about $52 million. The proposed acquisition puts Banc One at the Indiana state-mandated ceiling of 11% of deposits that any institution can own in that state. It effectively blocks the bank holding company from making any more acquisitions in Indiana. First National has $241 million in assets and operates nine banking offices. Banc One nearly reached the ceiling earlier this year when it agreed to acquire Indianapolis-based American Fletcher Corp. in a stock swap valued at $597.3 million. American Fletcher, a bank holding company, has assets of about $4.1 billion.Alternate Link(subscription required) via ProQuest.
Banc One Corp. said it completed the previously announced acquisition of First National Bank of Fenton, Mich., in a stock swap valued at $6.1 million. The Fenton bank, with year-end assets of $80 million, is Banc One's third Michigan affiliate.Alternate Link(subscription required) via ProQuest.
Banc One Corp said that the $823 million stock swap in which it will purchase Liberty National Bancorp of Louisville KY will be completed Aug 15, 1994.Alternate Link(subscription required) via ProQuest.
Lomas & Nettleton Financial Corp. said it will rename its MNet unit Lomas Bankers Corp., effective Nov. 1. Lomas & Nettleton acquired MNet, formerly the retail banking and credit card operation of MCorp, a Dallas bank holding company, last Dec. 30.Alternate Link(subscription required) via ProQuest.
A Lomas & Nettleton Financial Corp. subsidiary agreed to buy 230,000 Visa and MasterCard accounts from two Louisiana Bancshares Inc. units for $182.1 million. The subsidiary, MNet, signed a letter of intent to buy the credit card accounts from Louisiana National Bank and Guaranty Bank & Trust. MNet's credit card operation currently has 800,000 accounts.Alternate Link(subscription required) via ProQuest.
MBank USA, a unit of Lomas & Nettleton Financial Corp., said it agreed to buy the credit card portfolio of First National Bank of Amarillo for $12.7 million. Under terms of the contract, MBank will acquire 23,000 credit card accounts.Alternate Link(subscription required) via ProQuest.
Lomas & Nettleton Financial Corp. said its MBank USA subsidiary signed a letter of intent to buy the credit-card accounts of Banks of Mid-America Inc. for $143 million. The 260,000 Visa and MasterCard accounts will bring the total number of card accounts managed by MBank USA to more than 1.3 million. The accounts currently are managed by Banks of Mid-America's two banks, Liberty National Bank & Trust of Oklahoma City and First National Bank & Trust of Tulsa. The accounts have about $120 million in loans outstanding, said a spokesman for Banks of Mid-America, based in Oklahoma City.Alternate Link(subscription required) via ProQuest.
Lomas & Nettleton Financial Corp., Dallas, said its Lomas Bank USA unit agreed definitively to buy part of the credit card portfolio of Dollar Dry Dock Bank of White Plains, N.Y., for $107 million. Lomas said the purchase will add about 80,000 credit card accounts to the company's current portfolio of about 1.6 million accounts. The sale is expected to be completed today.Alternate Link(subscription required) via ProQuest.
Yet lenders at times seem oblivious to their borrowers' credit histories. Joe Tyson, a Houston resident who trains paramedics, was surprised recently when offered an MBank credit card. He had had an MBank card until two years ago when he ran up a $5,000 bill on it and could no longer make his payments. Now, he is in a stretched-out repayment plan negotiated by a credit-counseling agency. "When I got the offer, I figured that it must have been some sort of computer glitch," says Mr. Tyson, who tossed the mailing out. MBank sold its credit-card business to Lomas Financial Corp. in 1986, and a spokesman for the Dallas-based company's Lomas Bank USA says, "I don't quite understand how he could have gotten such an offer. We generally pre-screen applicants."Alternate Link(subscription required) via ProQuest.
But with Banc One Corp.'s May 13 purchase of Great American's 58-branch franchise, the options for acquiring a share of the Arizona market have become fewer and more costly. Banc One paid $49.36 million for Great American's branches and $1.4 billion in deposits.
The Citizens State Bank in Sturgis, Mich., has become the sixth interstate bank affiliate of Banc One Corp. of Ohio. Citizens State, which has assets of $112.8 million and operates four offices in St. Joseph County, now will be known as Bank One, Sturgis. Banc One's 28 affiliate banks operate 378 offices in Ohio, Indiana, Kentucky and Michigan.
{{cite book}}: |work= ignored (help)MNet will include at least 12 other units, with operations ranging from credit cards and electronic banking to mortgages and insurance