BATON ROUGE, La. -- Premier Bancorp. Baton Rouge, said it had signed a definitive agreement to acquire National Bank of Commerce, Lake Charles, La., in a stock swap valued at $14 million.

National Bank of Commerce has $85 million in assets and five branches.

Premier, which has $3.8 million of assets, agreed to acquire National Bank at a price representing 1.9 times its book value. The deal, which is subject to shareholder and regulatory approvals, is expected to close during the second quarter of 1994.

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