The takeover is not big enough, however, to vault First Union out of its spot as the sixth-largest bank in the country.
The company may close a few overlapping branches in Connecticut, where it will become the state's sixth-largest bank after this deal.
Bancrecer was Mexico's sixth-largest bank before it went bankrupt and was bailed out by the government in 1995.
At the time of the collapse, it was the sixth-largest bank in the United States.
Before the receivership action, it was the sixth-largest bank in the United States.
California First, the sixth-largest bank in the state, with assets of $6 billion, has made no secret of its plans to expand.
Chemical, with year-end assets of $58.4 billion, is the sixth-largest bank in the United States.
But such a merger would still not be large enough to vault First Union out of its position as the nation's sixth-largest bank.
The deal could create the nation's sixth-largest bank.
First Union, the nation's sixth-largest bank with $136.7 billion in assets, has operations from Florida to Connecticut.