In Brief: First Union-CoreStates Deal Closes Early

First Union Corp. said Tuesday that it had completed its $19.8 billion acquisition of Philadelphia-based CoreStates Financial Corp., two days ahead of schedule.

First Union said the merger expands its network to 2,400 branches and gives it the largest share of retail deposits on the eastern seaboard. Its assets total $220 billion, and shareholder equity equals $16 billion. The company said it now serves 16 million customers in 12 states and the District of Columbia, and operates 3,400 ATMs from Connecticut to Florida.

First Union plans to complete the conversion of computer operating systems by November, the bank said.