Loan Stars: Big deals for Texas banks

Big deals for Texas banks

Few American industries are currently more merger mad than banking. This year alone, scores of banks and savings and loan associations have joined forces with other institutions. Last week the fever spread all the way from New York City to Texas. First, Chemical New York, whose $56 billion in assets make it the seventh largest U.S. bank holding company, agreed to acquire Houston's Texas Commerce Bancshares (assets: $18.9 billion) for $1.19 billion. If completed, the merger will be among the biggest in U.S. banking history and will create the fourth largest bank company, behind Citicorp, BankAmerica and Chase Manhattan. One day...

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