ATICO FINANCIAL <ATFC> TO MAKE ACQUISITION
Atico Financial Corp said it has executed
a definitive agreement to acquire 93.5 pct of Intercontinental
Bank of Dade County, Fla., from Intercontinental Bank Holding
Co for an undisclosed amount of cash and common stock.
    It said closing is subject to regulatory approval.
    Atico said in connection with the acquisition it will apply
to become a registered bank holding company and convert its 99
npct owned Atico Savings Bank subsidiary to a state-chartered
commercial bank.
    Intercontinental had year-end assets of about 487 mln dlrs.
    Atico had year-end assets of about 534 mln dlrs.
 Reuter
