Union Planters Corp. said Tuesday it had agreed to buy Peoples First Corp. of Paducah, Ky., for $380 million in stock.

Memphis-based Union Planters is paying about 2.34 times book value and 17.5 times estimated earnings for 1998.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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