DAUPHIN DEPOSIT <DAPN> TO MAKE ACQUISITION
Dauphin Deposit Corp said it has
signed a letter of intent to acquire Colonial Bancorp Inc of
New Holland, Pa., in an exchange of 3.6 to 4.4 Dauphin shares
for each colonial share, depending on the market value of
Dauphin shares just before the merger takes place.
    The company said the acquisition is subject to approval by
Colonial shareholders and regulatory authorities.  Colonial had
assets at year-end of about 150 mln dlrs.
 Reuter
