Article: VALLICORP RECEIVES EL CAPITAN BANCSHARES, INC. MERGER APPROVAL

FRESNO, Calif., Sept. 27 /PRNewswire/ -- ValliCorp Holdings, Inc. ("ValliCorp") (Nasdaq: VALY) announced today that it has received approval from the Federal Reserve for the acquisition of El Capitan Bancshares, Inc. ("El Capitan") and its subsidiary, El Capitan National Bank. ValliCorp and El Capitan signed a definitive agreement on May 11, 1995 calling for ValliCorp to acquire the outstanding shares of El Capitan in a stock exchange under which El Capitan shareholders will receive approximately 2.3 shares of ValliCorp common stock for each share of El Capitan common stock. ValliCorp expects the transaction to close in the first quarter of 1996, subject to El Capitan ...

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