Robert H. Smith has carved a place for himself in business history as one of the architects of Security Pacific Corp.'s merger with BankAmerica Corp., the largest combination ever in U.S. banking.

As the extent of Security Pacific's troubles become more evident, Mr. Smith's deal increasingly looks like a triumph for his company's shareholders.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.