OTHER NEWS - Oct. 31, 1991
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From Times Staff and Wire Reports
Big Midwest Banks to Merge: National City Corp. of Cleveland said it will acquire Indianapolis-based Merchants National Corp. in a $641-million stock-swap deal. The new entity would be among the nation’s 25 biggest banks, with $29.69 billion in assets, $19.43 billion in loans and $22.92 billion in deposits. The acquisition would mean 600 layoffs at Merchants National’s domestic facilities. Merchants National, Indiana’s third-biggest banking franchise, also serves U.S. military personnel in eight countries.
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