Banc One Corp. said Thursday that it will take an after-tax charge of up to $24 million in the fourth quarter as it completes the acquisition of Team Bancshares Inc., Dallas.
The charge, equaling up to 10 cents a share, will cut into fourth-quarter earnings of up to 90 cents per share, said Banc One treasurer George Meiling.
The charge had not previously been mentioned by the Columbus, Ohio, superregional, which won Fed approval for the deal this week.
Mr. Meiling said such expenses are common outcomes of overlapping, in-market consolidations like that of Team and Banc One's Dallas-based subsidiary.
About $12 million of the charge relates to the elimination of redundant facilities, Mr. Meiling said. The executive said the pooling-of-interests deal will enhance earnings starting in the first quarter of 1993.
