NationsBank Corp.'s recent agreement to buy Houston-based Charter Bancshares continued its recent pattern of launching preemptive bids for in-market acquisitions.

NationsBank, which is based in Charlotte, N.C., said last week that it will purchase 58% of Charter for $94.7 million in stock, or 2.5 times book value. NationsBank already owns the rest of Charter's stock, which it received in return for infusing $13 million of capital into the community bank in the mid-1980s.

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