BANKING

Midwest Banks to Merge: Detroit-based NBD Bancorp, already among the nation’s 25 biggest bank holding companies, said it will acquire Indiana’s last major independent bank, INB Financial Corp. The move makes NBD Bancorp a $40-billion lender with the most assets in Michigan and Indiana. The stock swap valued at about $876 million was welcomed by INB shareholders, who will be paid a premium. In over-the-counter trading, INB’s stock soared $7 to $43. NBD Bancorp, traded on the New York Stock Exchange, fell 87 1/2 cents to $28.87 1/2 a share. NBD Bancorp, the largest bank holding company in Michigan, ranked 24th nationally in assets at the end of 1991. The merger would place it in the top 20. NBD’s assets grew to about $31 billion with its January acquisition of Gainer Bank of Merrillville, Ind.