Boatmen's Takeover In Oklahoma Cleared

ST. LOUIS -- Boatmen's Bancshares said the Federal Reserve Board has approved its acquisition of First Interstate Bank of Oklahoma.

The acquisition is expected to be completed in early August, Boatmen's said. The acquisition will "contribute immediately to our earnings since First Interstate of Oklahoma is one of the top-performing banks in the Southwest."

The First Interstate Bancorp unit, the third-largest bank in Oklahoma, has assets of about $850 million. Boatmen's, the largest banking company based in Missouri, has more than $16 billion in assets.

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