BANKING & FINANCE - March 4, 1992

Washington State Drops Merger Bill: State lawmakers have scrapped a bill that would have impeded BankAmerica Corp.’s acquisition of Security Pacific Corp. offices there, citing an agreement by the banks to divest additional branches, deposits and loans in the state. The proposed legislation would have limited to 30% the deposits any one bank in Washington could control. The two California banks settled antitrust issues with Washington Atty. Gen. Ken Eikenberry on Friday, the same day that the U.S. Justice Department said it will not oppose the combination of the banks on antitrust grounds.