Wachovia Corp. said Tuesday that it has agreed
Ameribank Bancshares is the parent of American Bank, the largest
The agreement will be structured as a purchase, with a fixed exchange of
Privately held Ameribank's stock was valued at $262.64 a share. The
The transaction is expected to close in the first quarter.
Once the deal closed, American Bank would be merged with 1st United
Wachovia, based in Winston-Salem, N.C., has $47.7 billion of assets.