National Westminster Bank USA and First Jersey...

National Westminster Bank USA and First Jersey National Corp. have agreed to merge in an $820-million cash deal, creating a $15.8-billion bank holding company. The acquisition of the Jersey City, N.J., bank by NatWest, the U.S. subsidiary of Britain’s giant National Westminster Bank PLC, highlights the surge in couplings between banks in New Jersey and neighboring states before New Jersey’s interstate banking law takes effect in 1988.