It opened several new branches, and Union Planters had eight total locations at the end of the 1940s.

The pace was especially aggressive in 1993, a year Union Planters picked up thirteen banks and adding some $1.5 billion to its assets.

None of the takeover rumors panned out, however, and Union Planters continued to buy up smaller banks.

Union Planters and Regions were given an equal number of seats on the board of directors.

The merged company used Union Planters' old logo of a young cotton plant.

Union Planters agreed to acquire Leader Financial for stock valued at $486 million.

If the deal is not completed, Union Planters still has an option to purchase up to 19.9 percent of Leader's common stock at $41 each.

The deal announced yesterday will be the third significant acquisition for Union Planters in the last year.

"With this acquisition, Union Planters takes out a pretty big competitor."

Union Planters "is still at a discount to its peers in Tennessee," he said.