BusinessFebruary 9, 1998
BUSINESS MEMO: MERCANTILE MERGER
Mercantile Bancorporation Inc., headquartered in St. Louis, has announced plans to merge with Firstbank of Illinois in a transaction worth nearly $700 million. The merger is expected to be completed in the third quarter of this year, Mercantile spokeswoman Lisa Rainbolt said...
Mercantile Bancorporation Inc., headquartered in St. Louis, has announced plans to merge with Firstbank of Illinois in a transaction worth nearly $700 million.
The merger is expected to be completed in the third quarter of this year, Mercantile spokeswoman Lisa Rainbolt said.
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Rainbolt said no layoffs are expected, and customers will see few changes in operations.
Mercantile has assets of $30 billion and operates in more than 500 locations throughout Missouri -- including Cape Girardeau -- Iowa, Kansas and Arkansas. Firstbank is a $2.2 billion multi-bank holding company headquartered in Springfield with 48 offices in 11 markets in Illinois and Missouri.
The merger is subject to the approval of Firstbank shareholders and regulatory authorities.
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