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Banking

August 30, 1991|From Times Staff and Wire Reports

Merged Bank to Close Some Branches: Manufacturers Hanover Corp. and Chemical Banking Corp. said they will close 14 of 91 branches in low- and moderate-income communities when they merge next year. The affected New York neighborhoods will retain 77 branches of the new Chemical, significantly more than that of its main competitors the banks said. By announcing their plans for low- and moderate-income areas, the banks are attempting to allay concerns of community groups and public officials.

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