CHICAGO -- Firstar Corp. of Milwaukee said Monday that it has agreed to acquire First Colonial Bankshares of Chicago in a stock deal valued at $314 million.

With $1.8 billion of assets and 30 branches in metropolitan Chicago, First Colonial will more than double the size of Firstar in Illinois. Upon the expected completion of the merger early next year, Firstar will have $2.8 billion of assets and 45 offices in the state.

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