DAUPHIN DEPOSIT <DAPN> TO ACQUIRE COLONIAL
Dauphin Deposit Corp said it
signed a definitive agreement to acquire <Colonial Bancorp
Inc>.
    The agreement calls for Colonial to be merged into Dauphin
Deposit Corp, and Colonial's subsidiary, New Holland Farmers
National Bank, to be merged into Dauphin Deposit Bank and Trust
Co, the lead bank of Dauphin Deposit Corp, the company said.
    Shareholders of Colonial will receive between 3.6 and 4.4
shares of Dauphin common stock for each share of Colonial,
depending on Dauphin's current market value, it said.
    As of Dec 31, 1986, Colonia Bancorp had assets of 150 mln
dlrs, Dauphin said.
 Reuter
