ST. LOUIS -- Boatmen's Bancshares said it signed definitive agreements to acquire two Texas banks in separate transactions: First National Bank in Pampa and West Side Bancshares, based in San Angelo.
Boatmen's will exchange approximately 1.35 million shares of its common stock for all the shares of First National Bank in Pampa, which has approximately $168 million in assets. The West Side Bancshares acquisition will involve the issuance of about 600,000 shares of Boatmen's common stock. West Side Bancshares owns the Bank of the West in San Angelo, which has assets of approximately $147 million.
Both banks will become part of Boatmen's First National Bank of Amarillo, and both acquisitions are expected to close during the first half of 1995, subject to approval by regulators.
Boatmen's has assets of $28.3 billion and operates 400 locations in nine states. It has assets under management of $35 billion.
