Cincinnati-based Star Banc Corp. completed its acquisition of Firstar Corp. of Milwaukee Friday, creating the 21st-largest U.S. bank, with $38 billion of assets.

The new company is called Firstar and is based in Milwaukee.

Former Star chairman Jerry A. Grundhofer became president and chief executive officer at the close of the $7.9 billion deal.

The company operates primarily in Illinois, Indiana, Iowa, Kentucky, Minnesota, Ohio, and Wisconsin, and has small outposts in Arizona and Tennessee.

Star Banc shareholders will receive one share of new Firstar stock for each share of Star owned, and Firstar stockholders will receive 0.76 shares in the new Firstar for each share of Firstar owned.

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