ST. LOUIS - Boatmen's Bancshares said it named Charles B. "Chip" Dudley 3d, chairman and chief executive officer of Boatmen's Bank of Tennessee, to head Worthen Banking Corp. after Boatmen's acquires it.

The acquisition is expected to close in late February after approval by shareholders of Little Rock-based Worthen. The name of the Worthen holding company will be changed to Boatmen's Arkansas Inc., and the lead bank in Little Rock will be named Boatmen's National Bank of Arkansas. Mr. Dudley will serve as chairman and chief executive of both companies.

Boatmen's Bancshares has assets of $29 billion. Worthen, with assets of $3.5 billion, operates 112 retail branches in Arkansas and six offices in the Austin, Tex., area.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.