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Banking & Finance

July 17, 1991|From Times Staff and Wire Reports

Cleveland Banks in Merger Talks: Directors of Ameritrust authorized the start of merger talks with other banks, including cross-town rival National City Corp. The disclosure comes one day after two New York banking companies, Manufacturers Hanover Corp. and Chemical Banking Corp., announced that they will merge in a $2-billion-plus stock swap that would create the nation's second-largest banking company. National City in May said it was prepared to offer $870 million for Ameritrust in a deal that would create the 17th-largest U.S. bank holding company.

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