DETROIT - NBD Bancorp said it has completed the acquisition of Summcorp of Fort Wayne, Ind., for about $340 million in stock.
Summcorp's $2.6 billion in assets, added to those of Gainer Corp. of Merrillville, which NBD acquired in early 1992, pushes the Michigan-based company's Indiana assets to $5 billion.,
NBD will more than double that total when it completes the pending acquisition of the $6.6 billion-asset INB Financial Corp. of Indianapolis.
A definitive agreement for the Summcorp acquisition was announced Dec. 20. It was approved by the Federal Reserve Bank of Chicago on May 20.