Prices of bank acquisitions are a growing worry on Wall Street, and the concern may cool merger activity for the rest of the year.

The two largest deals announced in the quarter - Banc One Corp.'s acquisition of Valley National Corp. and Barnett Bank Inc.'s purchase of First Florida Banks - came of hefty premiums. Valley is being acquired for 2.2 times book value; First Florida, for 2.4 times book value.

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