BANKING & FINANCE - June 18, 1996

First Union to Buy 2 Banking Firms: The nation’s sixth-largest banking company said it signed a definitive agreement to acquire Hollywood, Fla.-based Home Financial Corp., with assets of $3.7 billion as of March 31, parent of Home Savings Bank FSB in Florida, for about $336 million. It also has a definitive agreement to acquire Waterbury, Conn.-based Center Financial Corp., with assets of $1.2 billion, the parent of Centerbank and operator of Centerbank Mortgage Co., for about $379 million. Charlotte, N.C.-based First Union Corp., with assets of about $131 billion, operates 2,000 branches along the East Coast. Its shares rose 50 cents to $60.50 on the NYSE. In Nasdaq trading, Home Financial shares fell 56.25 cents to $13.0625 and Center Financial shares rose $1.25 to $24.125.