CAPITAL COMPLETES JONESBORO, ARK., ACQUISITION

Capital Bancorporation Inc. of Cape Girardeau announced Friday the completion of the acquisition of Home Federal Savings and Loan Association of Jonesboro, Ark.

The Arkansas financial facility had assets of $80 million.

Home Federal has three banks in Jonesboro and a lone production office in Paragould, Ark. The name of the Arkansas facility has been changed to Capital Bank, A Federal Savings Bank. Capital Bancorporation's consolidated assets are $1.1 billion with the acquisition.

The aggregate cash purchase for the Jonesboro facilities, which was financed through debt provided by an unaffiliated lender, was $6,856,879. The combination was accounted for using the purchase method of accounting.

As announced last month, Union Planters Corp. of Memphis, Tenn., and Capital Bancorporation have entered into a definitive agreement in which UPC would acquire all of the outstanding stock of Capital in a transaction valued at $114 million. The transaction is expected to be completed during the first quarter of 1996 and is subject to a due diligence review and shareholder and regulatory approval.

Capital's acquisition of the Jonesboro property was figured in the Capital-UPC deal.

Capital is multi-bank holding company operating at 35 banking sites through seven subsidiary banks in southeastern, southwestern, central and eastern Missouri and northeastern Arkansas.