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Article: San Antonuio-Based Cullen/Frost to buy Corpus Christi Properties.(Originated from San Antonio Express-News)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- October 2, 1996
- Author:
CopyrightCOPYRIGHT 1996 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Oct. 2--San Antonio-based Cullen/Frost Bankers Inc. plans to acquire Corpus Christi Bancshares Inc. and its subsidiary, Citizens State Bank of Corpus Christi, in a deal valued at about $33 million, both bank holding companies announced.
Cullen/Frost will pay a cash price of $18.84 per outstanding share of Corpus Christi Bancshares' stock, officials said.
Shares of Corpus Christi Bancshares soared 1 on the news, as the stock closed at 17 Tuesday in trading on the American Stock Exchange. Shares of Cullen/Frost Bankers rose to close at 30 in over-the-counter trading on the Nasdaq national market.
Citizens State Bank, based in Corpus ...