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BANKING & FINANCE

From Times Staff and Wire Reports

Boatmen’s to Acquire an Arkansas Bank: Boatmen’s Bancshares Inc. said it will acquire Worthen Banking Corp. of Little Rock, Ark., in a stock transaction valued at $595 million. St. Louis-based Boatmen’s, with assets of $28 billion in nine states, said it will exchange one of its common shares for each of Worthen’s 17.3 million common shares. Worthen is the second-largest bank holding company in Arkansas, with $3.5 billion in assets and $3 billion in deposits. Boatmen’s currently owns Superior Federal Bank, based in Ft. Smith, Ark., with assets of $1.2 billion.


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