CAPITAL STOCKHOLDERS OK DEAL WITH UNION PLANTERS

Stockholders of Capital Bancorporation Inc. Wednesday approved Union Planters Corporation agreement to acquire Capital.

Common stock shareholders approved the agreement and plan of reorganization whereby UPC will acquire all of the outstanding common stock of Capital, in a transaction valued at approximated $133 million, based on UPC's Nov. 28 closing stock price of $31.69.

The Board of Governors of the Federal Reserve System approved the transaction Nov. 20.

The transaction is expected to be completed in late December or early January.

Capital Bancorporation is multi-bank holding company headquartered in Cape Girardeau. The company operates 35 locations through seven affiliate banks in Missouri and Arkansas.

Capital and Union Planters announced the agreement in June of this year.