Expansion in Ohio
First National Cincinnati Corporation made its first expansion move outside of Hamilton County by announcing in May 1975 the pending acquisition of the Yellow Springs, Ohio-based Miami Deposit Bank from Midwestern Fidelity Corporation for an undisclosed amount.[5] At the time of the announcement, First National Bank of Cincinnati had 24 offices. The acquisition was completed in October 1975 for $3.6 million.[6]
In May 1976, First National Cincinnati Corporation announced the pending acquisition of the Ironton-based First National Bank of Ironton and Troy-based First National Bank & Trust Co. for an undisclosed amount.[7] The acquisition was completed in August 1976.[8]
In July 1977, First National Cincinnati Corporation announced the pending acquisition of the Circleville-based Third National Bank of Circleville for an undisclosed amount.[9] The acquisition was completed in December 1977 for $2.9 million in cash.[10]
In December 1978, First National Cincinnati Corporation announced the pending acquisition of the Gallipolis-based Commercial & Savings Bank for an undisclosed amount.[11] The acquisition was completed in August 1979.[12]
In October 1979, First National Cincinnati Corporation announced the pending acquisition of the Portsmouth-based Portsmouth Banking Company for an undisclosed amount.[13] The acquisition was completed in August 1980.[14]
In April 1981, First National Cincinnati Corporation announced the pending acquisition of the Hamilton-based Second National Bank of Hamilton for an undisclosed amount.[15] The acquisition was completed in March 1982 for $22.2 million in cash and notes.[16]
In July 1982, First National Cincinnati Corporation announced the pending acquisition of the Hillsboro-based Farmers and Traders National Bank for an undisclosed amount.[17] The acquisition was completed in March 1983 for $6.8 million in cash and notes.[18][19]
In December 1982, First National Cincinnati Corporation announced the pending acquisition of the Fairborn-based Bank One of Fairborn from Banc One Corporation for an undisclosed amount.[20][21]
In March 1984, First National Cincinnati Corporation announced the pending acquisition of the Eaton-based Preble County National Bank for an undisclosed amount.[22] The acquisition was completed in February 1985.[23]
In December 1984, First National Cincinnati Corporation announced the pending acquisition of the Columbus-based Ohio State Bank from BancOhio Corporation for an undisclosed amount.[24] The acquisition was completed in July 1985.[25] BancOhio Corporation had to divest its offices in Columbus before it would be allowed to proceed with its merger with National City Corp.
In June 1985, First National Cincinnati Corporation announced the pending acquisition of 10 offices of the failed Home State Savings Bank offices in Cincinnati, Middletown and Dayton from Hunter Savings Association for an undisclosed amount.[26][27]
In August 1987, First National Cincinnati Corporation announced the pending acquisition of the Sidney-based First Sidney Banc Corporation with its First National Bank of Sidney subsidiary for an undisclosed amount.[28] The acquisition was completed in January 1988.[29][30]
In December 1987, First National Cincinnati Corporation announced the pending acquisition of the Miamisburg-based First National Bancorp with its First National Bank of Miamisburg subsidiary for an undisclosed amount.[31][32] The acquisition was completed in July 1988.[33]
In March 1992, Star Banc Corporation announced the pending acquisition of 28 branch offices in Greater Cleveland from Ameritrust Corporation for $22 million that Society Corporation was required to divest.[34] The acquisition was completed in June 1992.[35] Society Corporation was required by Federal regulators to divest those offices before it could complete its acquisition of Ameritrust.
In September 1994, Star Banc Corporation announced the acquisition of 47 branch offices and $1.12 billion in deposits of the failed TransOhio Federal Savings Bank from the Resolution Trust Corporation for $122.4 million.[36]
In November 1996, Star Banc Corporation announced the pending acquisition of seven AmeriFirst branch offices in Ohio from the Bowling Green-based Mid Am, Inc., for an undisclosed amount.[37] The acquisition was completed in February 1997.[38]
In February 1998, Star Banc Corporation announced the pending acquisition of 53 banking offices in Ohio for an undisclosed amount that Banc One Corporation was divesting as a cost-cutting measure prior to its merger with First Chicago NBD to form the new Bank One Corporation.[39] The acquisition was completed in June 1998 for only 49 offices since federal regulators had objected to the purchase of four of the proposed offices.[40]
Firstar
In July 1998, Star Banc Corporation announced the pending acquisition of the Milwaukee, Wisconsin-based Firstar Corporation for $7.3 billion in stock.[64][65][66] At the time of the announcement, Firstar had banking offices in Wisconsin, Illinois, Minnesota, Arizona, Iowa, Ohio, and Missouri while Star Banc had banking offices in Ohio, Indiana, Kentucky, and Tennessee. Under the merger agreement, former Firstar board members would have 14 out of 32 directors seats on the board of the new corporation and could help control the direction of the new combined company.[65] Star Banc was the nominal survivor, and the merged bank retained Star Banc's charter and stock price history. However, the merged bank would be based in Milwaukee under the Firstar name and inherited old Firstar's ticker symbol, FRS. It was also announced that Star Chairman and Chief Executive Jerry Grundhofer would become president and chief executive of the merged Firstar, while Firstar Chairman and Chief Executive Roger Fitzsimonds remained chairman of the merged company.
