COLUMBUS, Ohio -- Banc One Corp. completed the purchase of Denver-based Affiliated Bankshares of Colorado in a stock swap valued at $ 404 million.

Affiliated, renamed Banc One Colorado Corp., has assets of $2.8 billion and operates six banks with 43 banking centers in Colorado.

The agreement called for the exchange of 0.726 share of Banc One common stock for each share of Affiliated common and 3.025242 shares of Bank One common for each share of Affiliated preferred.

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