CHARLOTTE, N.C. -- First Union Corp. completed the acquisition of American Bancshares, the parent of American Commercial Savings Bank Inc., in a stock transaction valued at about $22.7 million.

American Bancshares had assets of $215.9 million as of March 31, according to a First Union press release.

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.