Bank mergers and acquisitions unveiled in 1996 totaled $43.8 billion. Thrifts went for unprecedented prices and a wave of deals washed over California. The M&A Roundup features rankings of the top 150 deals and related stories. Pullout section WASHINGTON FDIC EXAMINERS will scrutinize the electronic products and services of state banks the agency supervises beginning this May. Page 2 REGIONAL BANKING NationsBank's community development subsidiary has become a model for banks across the country interested in meeting Community Reinvestment Act goals in a new way. Page 4 TECHNOLOGY Cybercash began a pilot of a virtual "check" that consumers can use to pay bills and buy goods on the Internet. Page 6 COMMUNITY BANKING Albank Financial is taking on more than $500 million in new deposits with the purchase of 35 New York State branches that KeyCorp doesn't want. Page 9 MORTGAGES Freddie Mac and MGIC Investment decided to join forces and create a new default management system for mortgage servicers. Page 10 INVESTMENT PRODUCTS Liberty Financial introduced an Internet service with a technical twist that banks and other competitors may soon be scrambling to duplicate. Page 12 CREDIT/DEBIT/ATMs NPC picked up a new processing contract, snatching business away from First Data. Page 14 CORPORATE FINANCE Bank of New York is making a name for itself in the world of leveraged finance with a lead mandate on an almost $1 billion loan supporting a Kohlberg Kravis Roberts acquisition. Page 21 MARKET MONITOR Executives who lend to consumers with bruised credit were unnerved by the sudden reversals at two big companies in the subprime business. But they insisted such troubles couldn't happen to them. Back page

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