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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 8, 1998
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First Chicago NBD Corporation
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(Exact name of registrant as specified in its charter)
Delaware 1-7127 38-1984850
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
One First National Plaza, Chicago, IL 60670
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(Address of principal executive offices) (ZIP Code)
Registrant's telephone number, including area code 312-732-4000
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Item 5. Other Events
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The Registrant hereby incorporates by reference the information contained
in Attachments A and B hereto in response to this Item 5.
Pursuant to the requirements of the Securities Exchange Act of l934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
First Chicago NBD Corporation
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(Registrant)
Date: September 11, 1998 By: /s/ M. Eileen Kennedy
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Title: Senior Vice President and
Treasurer
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Attachment A
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CHICAGO and MEMPHIS, Sept. 8, 1998 First Chicago NBD Corporation, BANC ONE
CORPORATION and Union Planters Corporation announced today that Union Planters
will acquire 51 NBD Bank branches and associated deposits and loans in Indiana.
The sale was initiated to satisfy anti-trust regulations and includes the
divestiture approved today by the U.S. Department of Justice. The proposed
merger of BANC ONE and First Chicago NBD, announced April 13, 1998, is pending
regulatory and shareholder approval.
Union Planters will purchase the assets and liabilities of certain NBD
branches in the following banking markets:
. Indianapolis, 27 branches representing $960 million in deposits,
. Lafayette, 11 branches representing $435 million in deposits,
. Bloomington/Bedford, 4 branches representing $130 million in deposits,
. Southeastern Indiana, 4 branches representing $145 million in deposits,
. Marion, 3 branches representing $115 million in deposits, and
. Kokomo, 2 branches representing $25 million in deposits.
In addition to the $1.8 billion in deposits and 51 branches, the
acquisition will bring Union Planters approximately $200 million in consumer
loans and $625 million in commercial loans along with their associated services.
Union Planters will pay a premium of approximately $294 million for the deposits
and loans, with the exact amount being determined by deposit levels at closing.
The sale is expected to be completed in the first quarter of 1999, subject
to approval by appropriate regulatory authorities and the completion of the
merger of First Chicago NBD and BANC ONE.
Union Planters has committed to retain all the NBD employees currently
employed at the 51 affected branches. Founded in 1869, Union Planters is
headquartered in Memphis, Tenn., and is doing business in 12 states with 800
offices and assets of approximately $30 billion.
NBD will retain the rest of its current business in these markets,
converting its accounts and facilities to Bank One branches later in 1999. Bank
One will have the largest market share among consumers and businesses in both
Indianapolis and Indiana.
The new BANK ONE CORPORATION, which will have assets of more than $230
billion, will have the largest market share among consumers in eight states and
among businesses in the Midwest. The merger is expected to be completed early
in the fourth quarter.
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<TABLE>
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NBD Bank Branches in Indiana Being Sold to Union Planters Bank
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Greater Indianapolis Area
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City Branch Name Address Branch
Number
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Carmel Plaza 11550 N. Meridian St. 505
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Carmel 146 & N. Meridian Banking Center 14825 Greyhound Ct. 524
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Fishers East 96th Street - I-69 8758 E. 96th St. 218
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Fishers Fishers 11555 Fishers Rd. 543
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Greenwood Smith Valley 1686 W. Smith Valley Rd. 504
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Indianapolis Pendleton Pike Office 10869 Pendleton Pike 382
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Indianapolis Robin Run Robin Run Retirement Ctr. 510
5354 W. 62nd St.
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Indianapolis 91st & Meridian Street 9075 N. Meridian St. 515
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Indianapolis Madison Avenue 1377 Madison Ave. 521
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Indianapolis New Augusta 4629 W. 71st St. 545
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Indianapolis Post Road 8910 E. 38th St. 549
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Indianapolis Riley Center 555 N. Delaware 552
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Indianapolis Castleton 6520 E. 82nd St. 554
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Indianapolis Keystone Willowbrook 2421 Willowbrook Pkwy. 593
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Indianapolis Rockville Road 7329 Rockville Rd. 594
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Indianapolis Park Fletcher 2240 Executive Dr. 595
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Indianapolis Tower Banking Office One Indiana Square 644
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Indianapolis 96th & Keystone 3401 E. 96th Ave. 648
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Indianapolis Beech Grove 3820 S. Emerson Ave. 649
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Indianapolis 56th- Emerson Way 5640 Emerson Way 651
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Indianapolis Valley Mills 4830 S. High School Rd. 654
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Indianapolis Southeastern Ave. Banking Branch 7501 Southeastern Ave. 656
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Indianapolis 431 & Stop 11 7916 Madison Ave. 657
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Indianapolis Geist Branch 9885 Fall Creek Rd. 658
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Indianapolis Capital Center 251 N. Illinois 679
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Indianapolis Eagle Creek Parkway 7007 Shore Terr 1302
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Mooresville Mooresville 1000 Hadley Rd. 547
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</TABLE>
A-2
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<TABLE>
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Greater Lafayette Area
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City Branch Name Address Branch
Number
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Delphi Delphi 121 N. Washington St. 477
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Frankfort Frankfort Main 2 E. Washington 367
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Frankfort Frankfort Plaza 1451 Wabash St. 368
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Lafayette 5th & South Banking Center 437 South St. 465
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Lafayette Teal Road Banking Center 2237 Teal Rd. 466
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Lafayette Union Street 3123 Union St. 469
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Lafayette Creasy Lane Banking Center 25 S. Creasy Ln. 473
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Remington Remington Office 15 S. Ohio St. 474
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Rossville Rossville 15 S. Plank St. 369
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West Lafayette Stadium Square 728 Northwestern Ave. 467
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West Lafayette Westminster Banking Center 2741 N. Salisbury St. 472
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Southeastern Indiana Market
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City Branch Name Address Branch
Number
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Corydon Plaza Banking Center Junction Hwys. 135 & 137 435
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Corydon Downtown Banking Center 109 N. Capitol 437
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New Salisbury New Salisbury 7950 Hwy 135 436
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Salem Salem 24 East Side Public Square 438
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Marion Market
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City Branch Name Address Branch
Number
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Marion Kem Road Office 1503 W. Kem Rd. 386
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Marion Marion Main Office 402 S. Washington St. 387
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Marion South Marion Office 3127 S. Washington St. 388
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Kokomo
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City Branch Name Address Branch
Number
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Kokomo Fountain Square 3541 S. LaFountain St. 384
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Kokomo Court House Square 107 N. Buckeye St. 397
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Bloomington/Bedford
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City Branch Name Address Branch
Number
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Bloomington College Mall 965 College Mall Rd. 596
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Bloomington Fountain Square 116 S. Walnut 647
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Bedford Main Banking Center 1501 J St. 511
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Bedford West Banking Center 3336 W. 16th St. 512
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</TABLE>
A-3
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Attachment B
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CHICAGO and COLUMBUS, Sept. 8, 1998 -- BANC ONE CORPORATION and First
Chicago NBD Corporation announced that the first phase of their merger
integration process has been completed, and that a series of critical decisions
has been finalized. Shareholders of both companies will meet on Sept. 15 to
approve the merger. Pending all necessary approvals, the merger is expected to
close early in the fourth quarter. The new company will be called BANK ONE
CORPORATION.
. BANK ONE will be organized around five national lines of business that have
each determined their ongoing organizations and operating platforms:
. Credit Card - delivering value principally through the First USA and
First Card brand names.
. Commercial - serving middle market and large corporate customers through
a variety of banking products (risk management, corporate finance,
treasury management, leasing and asset-based lending); also includes
commercial real estate and private banking.
. Retail - providing banking services to consumers and small businesses
through a variety of delivery channels.
. Investment Management - managing mutual funds, institutional
investments and insurance needs.
. Finance One - providing consumer finance products, mortgage lending and
indirect lending services.
Each of these businesses is structured to support a customer focus
nationally and in all individual geographic markets served by BANK ONE.
In addition, the corporate investments portfolio will be a significant
contributor to the Corporation's earnings.
. Top-level managers have been appointed in all lines of business and staff
units, a total of more than 200 senior managerial positions.
. Major technology platforms and related systems applications for the new
company have been chosen and resources have been dedicated to implement them
quickly. Both companies continue to make rapid progress in their Year 2000
programs.
. Arthur Andersen, LLP has been selected as the auditing firm for the new
Corporation.
Verne Istock, Chairman, President and Chief Executive Officer of First
Chicago NBD Corporation will be Chairman of the new Corporation and John B.
McCoy, Chairman and Chief Executive Officer of BANC ONE CORPORATION, will be
President and Chief Executive Officer of the new Corporation.
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Reporting to McCoy will be Richard Lehmann and David Vitale, both vice
chairmen, and:
. Marvin Adams, chief information officer
. David Meuse, merchant banking
. Robert Rosholt, chief financial officer
Reporting to Istock will be:
. William Boardman, mergers and acquisitions
. Gerald Buldak, public affairs
. Sherman Goldberg, general counsel
. Thomas Hoaglin, operations
. Timothy Moen, human resources
. Robert O'Neill, chief auditor
. Richard Wade, risk management
Reporting to Lehmann will be:
. Kenneth Stevens, retail
. Richard Vague, credit card
. Donald Winkler, Finance One
. Ralph Mueller, consumer credit policy review
Reporting to Vitale in commercial banking will be:
. W. G. Jurgensen, commercial banking products
. Susan Moody, commercial banking market segments
. Ronald Steinhart, commercial real estate and private banking
. Judith Feldman, finance and merger integration
. Paul Hennessy, credit
Also reporting to Vitale will be:
. David Kundert, investment management group
. Geoff Stringer, corporate investments group.
As previously announced, Thomas Hoaglin and Philip Jones will serve as
merger integration executives, reporting to McCoy and Istock. Terry Wise has
been appointed integration director.
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