PITTSBURGH -- PNC Bank Corp. said it has received all regulatory and shareholder approvals for its acquisition of Indian River Federal Savings Bank of Vero Beach, Fla.
The $63.9 billion-asset bnak anticipates the transaction will close on Jan. 13, 1995, and that the Vero Beach bank will open for business on Jan. 17 as PNC Bank, FSB.
Under the terms of the transaction, Indian River shareholders will receive about $11.8 million, or $18.25 per share in cash.
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