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August 1, 1991 | STUART SILVERSTEIN, TIMES STAFF WRITER
BankAmerica Corp. said Wednesday that it reached an agreement to buy the parent of Nevada's second-biggest bank for stock now valued at about $400 million. The acquisition of Valley Capital Corp., the owner of Valley Bank of Nevada, will dramatically expand B of A's holdings in a state that recently has been stung by recession. The deal also continues B of A's expansion through much of the West.
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BUSINESS
February 14, 1992 | From Times Staff and Wire Reports
B of A Acquisition Approved: BankAmerica's acquisition of Valley Capital Corp. in Las Vegas was approved by the Federal Reserve Board. B of A will acquire Valley Bank of Nevada, Caliber Bank of Phoenix and various Valley Capital subsidiaries. Valley Capital is the second-largest banking firm in Nevada. The acquisition makes B of A Nevada's largest bank. The price is expected to range from $360 million to $440 million, depending on BankAmerica's stock price when the deal closes.
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BUSINESS
February 14, 1992 | From Times Staff and Wire Reports
B of A Acquisition Approved: BankAmerica's acquisition of Valley Capital Corp. in Las Vegas was approved by the Federal Reserve Board. B of A will acquire Valley Bank of Nevada, Caliber Bank of Phoenix and various Valley Capital subsidiaries. Valley Capital is the second-largest banking firm in Nevada. The acquisition makes B of A Nevada's largest bank. The price is expected to range from $360 million to $440 million, depending on BankAmerica's stock price when the deal closes.
BUSINESS
August 1, 1991 | STUART SILVERSTEIN, TIMES STAFF WRITER
BankAmerica Corp. said Wednesday that it reached an agreement to buy the parent of Nevada's second-biggest bank for stock now valued at about $400 million. The acquisition of Valley Capital Corp., the owner of Valley Bank of Nevada, will dramatically expand B of A's holdings in a state that recently has been stung by recession. The deal also continues B of A's expansion through much of the West.
NEWS
August 13, 1991 | MARTHA GROVES, TIMES STAFF WRITER
BankAmerica Corp. and Security Pacific Corp., in a surprise announcement that shook the financial community, said Monday that they would merge to form a Western U.S. banking behemoth with a global reach and $190 billion in assets. The merger, the biggest in U.S. banking history, is valued at more than $4 billion and bolsters BankAmerica's spot as the nation's second-largest banking company.
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