The merger boom is bringing bigger and bigger windfalls to bank chiefs who opt to sell.

CoreStates Financial Corp. chairman and chief executive officer Terrence A. Larsen is expected to ultimately reap nearly $100 million from selling his bank to First Union Corp. That counts salary, bonus, stock and options, and other payments to him and his family.

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.