A March 22 article, "Travelers Wraps 7 Coverages in 1 Policy for Small Banks" on page 11, misstated the use that First Virginia Banks Inc. is making of the package of liability and crime insurance. First Virginia has not bought the coverage for itself but is marketing the Citigroup Inc. policy to smaller banks.
A May 4 article on page 28, "Midsize-Bank Stocks Leap As Firstar Deal Spurs Activity," overstated the loan problems that had hurt Hibernia Corp.'s stock. The shares slumped after Hibernia said it would take some losses on $34 million of nonperforming loans and was evaluating another $29 million of loans that were in default.
An article Wednesday on page 2, "CRA Protests Rarely Play Role in Stopping Mergers, Treasury Report Says," overstated the barrier to such protests in the financial reform bill that passed the Senate this month. Even applications from banks rated "satisfactory" or better for three years could be opposed on CRA grounds if there were substantial proof of any allegation.