FOR IMMEDIATE RELEASE: WEDNESDAY, APRIL 25, 1997
NEW YORK--The Federal Reserve Bank of New York Friday approved the applications by BanPonce Corporation, Hato Rey, Puerto Rico; Popular International Bank, Inc., Hato Rey, Puerto Rico; and BanPonce Financial Corp., Wilmington, Delaware (together, the "BanPonce Group"), to aquire 100 percent of the shares of National Bancorp, Inc.., Streamwood, Illinois, and its subsidiary, AmericanMidwest Bank and Trust, Melrose Park, Illinois.
The Reserve Bank also approved Friday the application by the BanPonce Group to aquire 100 percent of the shares of CBC Bancorp, LTD., Chicago, Illinois and its subsidiary Capital Bank and Trust, Chicago, Illinois and Capital Bank of Westmont, Westmont, Illinois.
According to standard procedure, the proposals cannot be completed for 15 days.
The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.