ST. LOUIS -- Boatmen's Bancshares plans to acquire Community State Bank of Salem, Ill., in an exchange of about 300,000 common shares for all Salem Community Bancorp's stock.
A spokesman said the company currently has about 104.7 million shares outstanding.
Community State Bank, which has two locations and about $80 million of assets, will become part of the Boatmen's Bank of South Central Illinois unit.
The company expects to complete the transaction by the first quarter of 1995, subject to approval by regulators and its board.
