Advertisement
YOU ARE HERE: LAT HomeCollectionsBanc One
IN THE NEWS

Banc One

FEATURED ARTICLES
BUSINESS
March 27, 1991 | JAMES BATES, TIMES STAFF WRITER
Banc One, citing uncertainty in the New England economy, said Tuesday that it is dropping out of the bidding for the failed Bank of New England. The decision leaves San Francisco-based BankAmerica Corp. as the top contender to buy the bank, many bankers and analysts believe. A BankAmerica spokesman said the decision by Columbus, Ohio-based Banc One does not affect its plans, adding that it still intends to submit a bid to the Federal Deposit Insurance Corp.
ARTICLES BY DATE
BUSINESS
September 9, 1998 | Reuters
The Justice Department said it cleared the $29-billion merger of Banc One Corp. with First Chicago NBD Corp. after the banks agreed to divest 39 branch offices in Indiana with total deposits of nearly $1.5 billion. The banks also offered to sell some middle-market commercial loan operations in Indiana, the Justice Department's antitrust division said. Union Planters Corp. agreed to acquire the assets in a deal expected to be completed in the first quarter of 1999.
Advertisement
BUSINESS
February 3, 1990 | From Associated Press
Federal regulators on Friday sold the insolvent Bright Banc Savings Assn. of Dallas to an Ohio bank holding company in the largest thrift sale since enactment of the S&L bailout law in August. Banc One Corp. of Columbus, Ohio, is receiving $1.1 billion in government assistance to acquire Bright Banc, founded in the early 1980s by H. R. (Bum) Bright, once one of the 50 wealthiest men in the country and the former owner of the Dallas Cowboys football team. Banc One is paying $45 million.
BUSINESS
October 21, 1997 | Associated Press
Banc One Corp., the nation's eighth-largest bank holding company, said it agreed to acquire New Orleans-based First Commerce Corp. for about $2.7 billion in stock. The purchase would make Banc One the largest banking company in Louisiana, with a leading position in five of the top six markets in the state, Banc One said. Banc One, based in Columbus, Ohio, already operates in Louisiana as a result of its 1995 acquisition of Baton Rouge-based Premier Bancorp.
BUSINESS
October 21, 1997 | Associated Press
Banc One Corp., the nation's eighth-largest bank holding company, said it agreed to acquire New Orleans-based First Commerce Corp. for about $2.7 billion in stock. The purchase would make Banc One the largest banking company in Louisiana, with a leading position in five of the top six markets in the state, Banc One said. Banc One, based in Columbus, Ohio, already operates in Louisiana as a result of its 1995 acquisition of Baton Rouge-based Premier Bancorp.
BUSINESS
December 31, 1996 | Times Staff and Wire Reports
Banc One Corp., one of the nation's largest banks, agreed to acquire Liberty Bancorp Inc., another Midwestern bank holding company, for $546 million in stock, the companies said. The acquisition would make Banc One the largest banking company in Oklahoma City, where Liberty is based, and one of the top banking companies in the state. Columbus, Ohio-based Banc One operates 59 banks in 12 states and has assets of $98.6 billion. Liberty operates 29 banking offices in Oklahoma City and Tulsa, Okla.
BUSINESS
September 9, 1998 | Reuters
The Justice Department said it cleared the $29-billion merger of Banc One Corp. with First Chicago NBD Corp. after the banks agreed to divest 39 branch offices in Indiana with total deposits of nearly $1.5 billion. The banks also offered to sell some middle-market commercial loan operations in Indiana, the Justice Department's antitrust division said. Union Planters Corp. agreed to acquire the assets in a deal expected to be completed in the first quarter of 1999.
BUSINESS
July 27, 1987 | Associated Press
Banc One Corp. and Milwaukee-based Marine Corp. have agreed to a stock-swap merger valued at about $543.3 million, the two bank holding companies announced Friday. The definitive agreement, if approved by shareholders of both companies and by banking regulators, would create a $22-billion institution with offices in five Midwestern states. Under the definitive agreement with Banc One, each share of Marine stock would be swapped for 2.332 shares of Banc One.
BUSINESS
April 15, 1992 | JAMES BATES, TIMES STAFF WRITER
Ohio-based Banc One Corp. on Tuesday said it will acquire Arizona's largest bank, Valley National Corp., for $1.2 billion in stock, creating the nation's eighth-largest bank with its first major thrust into the West. The unexpected acquisition means that Banc One, which in recent years has emerged as one of the nation's premier banks, is now a head-to-head competitor with BankAmerica Corp.
BUSINESS
July 25, 1995 | From Reuters
Bank of Boston Corp. lost a third potential suitor when Banc One Corp. said Monday that it has withdrawn a $5-billion takeover offer. The announcement came just a day after CoreStates Financial Corp. and Bank of Boston called off a $4.2-billion merger that had been coolly received on Wall Street. Before that, Mellon Bank Corp. had been talking with Bank of Boston about a merger that was scrapped in favor of the aborted CoreStates deal.
BUSINESS
January 21, 1997 | From Associated Press
After watching AT&T, General Motors and independent credit card companies capture a growing share of the consumer credit business, Banc One made its own move Monday by announcing plans to acquire First USA for $6.75 billion. The deal would create the nation's third-largest credit card operation, with a combined 32 million cardholders, marrying the nation's 10th-largest bank with one of the fastest-growing credit card companies.
BUSINESS
December 31, 1996 | Times Staff and Wire Reports
Banc One Corp., one of the nation's largest banks, agreed to acquire Liberty Bancorp Inc., another Midwestern bank holding company, for $546 million in stock, the companies said. The acquisition would make Banc One the largest banking company in Oklahoma City, where Liberty is based, and one of the top banking companies in the state. Columbus, Ohio-based Banc One operates 59 banks in 12 states and has assets of $98.6 billion. Liberty operates 29 banking offices in Oklahoma City and Tulsa, Okla.
BUSINESS
July 25, 1995 | From Reuters
Bank of Boston Corp. lost a third potential suitor when Banc One Corp. said Monday that it has withdrawn a $5-billion takeover offer. The announcement came just a day after CoreStates Financial Corp. and Bank of Boston called off a $4.2-billion merger that had been coolly received on Wall Street. Before that, Mellon Bank Corp. had been talking with Bank of Boston about a merger that was scrapped in favor of the aborted CoreStates deal.
BUSINESS
April 15, 1992 | JAMES BATES, TIMES STAFF WRITER
Ohio-based Banc One Corp. on Tuesday said it will acquire Arizona's largest bank, Valley National Corp., for $1.2 billion in stock, creating the nation's eighth-largest bank with its first major thrust into the West. The unexpected acquisition means that Banc One, which in recent years has emerged as one of the nation's premier banks, is now a head-to-head competitor with BankAmerica Corp.
BUSINESS
March 24, 1992 | From Associated Press
Banc One Corp. moved to expand its consumer banking presence in Texas by announcing plans Monday to acquire the state's fifth-largest bank, Team Bank, in a $782-million stock swap. The proposed deal, subject to regulatory approval, would be the largest in Texas banking since Columbus, Ohio-based Banc One entered the state in 1989 with the purchase of the failed MCorp of Dallas.
BUSINESS
March 27, 1991 | JAMES BATES, TIMES STAFF WRITER
Banc One, citing uncertainty in the New England economy, said Tuesday that it is dropping out of the bidding for the failed Bank of New England. The decision leaves San Francisco-based BankAmerica Corp. as the top contender to buy the bank, many bankers and analysts believe. A BankAmerica spokesman said the decision by Columbus, Ohio-based Banc One does not affect its plans, adding that it still intends to submit a bid to the Federal Deposit Insurance Corp.
BUSINESS
June 30, 1989 | OSWALD JOHNSTON, Times Staff Writer
The Federal Deposit Insurance Corp. disclosed details Thursday of the complex arrangement under which Banc One Corp. of Columbus, Ohio, won a bidding competition to take over 20 failed banks of MCorp of Dallas, a bailout that will cost the federal government about $2 billion and constitute the second-largest bank rescue ever. FDIC Chairman L. William Seidman, describing the arrangement worked out in principle a day earlier, said the FDIC share would involve $300 million in cash outlays and an additional $1.7 billion debt to the Federal Reserve.
BUSINESS
February 3, 1990 | From Associated Press
Federal regulators on Friday sold the insolvent Bright Banc Savings Assn. of Dallas to an Ohio bank holding company in the largest thrift sale since enactment of the S&L bailout law in August. Banc One Corp. of Columbus, Ohio, is receiving $1.1 billion in government assistance to acquire Bright Banc, founded in the early 1980s by H. R. (Bum) Bright, once one of the 50 wealthiest men in the country and the former owner of the Dallas Cowboys football team. Banc One is paying $45 million.
Los Angeles Times Articles
|