In July 1998, Cincinnati, Ohio-based Star Banc Corporation (formerly First National Cincinnati Corporation), parent of Star Bank, announced the pending acquisition of Firstar Corporation for $7.3 billion in stock. At the time of the announcement, Firstar had banking offices in Wisconsin, Illinois, Minnesota, Arizona, Iowa, Ohio, and Missouri while Star Banc had banking offices in Ohio, Indiana, Kentucky, and Tennessee. Under the merger agreement, former Firstar board members would have 14 out of 32 directors seats on the board of the new corporation and could help control the direction of the new combined company. It was decided that the new combined company would be based in Milwaukee and that the new company would use the Firstar name and have its stock traded on the New York Stock Exchange under the symbol FRS. It was also announced that Star Chairman and Chief Executive Jerry Grundhofer would become president and chief executive while Firstar Chairman and Chief Executive Roger Fitzsimonds would become chairman. The merger was completed in November 1998.