While mergers like Travelers-Citigroup and NationsBank-BankAmerica were grabbing the headlines last year, several other companies were quietly making large numbers of smaller acquisitions.
The leader was Memphis-based Union Planters Corp., which acquired 13 banks and bought branches from two others. Eleven of its acquisitions were among the 150. The biggest was its purchase of St. Louis-based Magna Group for $2.25 billion. Union Planters wasted no time, announcing the deal on Feb. 22 and closing it on June 30.