Jonas to Head Merged Banks
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Jonas to Head Merged Banks

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The Manufacturers’ Trust Company and the State Bank and Trust Company, according to a joint statement of Nathan S. Jonas and Harold C. Richard yesterday, have completed merger negotiations, which will bring about a combined institution with deposits of $375,000,000, and resources of $450,000,000.

Nathan S. Jonas will continue as President and Henry C. Von Elm as Chairman of the Executive Committee.

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