First Interstate Bancorp officially changed the name...

First Interstate Bancorp officially changed the name of 50 Allied Banks in Texas to First Interstate Bank. The banks, with assets of about $8 billion, were acquired by First Interstate in a deal that closed Friday. Joseph J. Pinola, chairman of the Los Angeles-based bank holding company, told an audience of business and civic leaders in Houston that he sees substantial growth prospects in Texas, particularly in consumer banking. First Interstate is now the nation’s eighth-largest bank holding company, with banks in 13 states and assets of $58 billion.