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UNIVERSITY PARK - Fidelity Bank N.A. may have to pay an additional $333,000 for a bank it purchased in 1995, following a new ruling from a federal judge.
Alabama-based super-regional Compass Bancshares (Nasdaq: CBBS) said it anticipates the ruling will have no effect on its deal to buy Fidelity, which was announced in October.
A senior executive for Fidelity, which was the plaintiff in the court case, declined to discuss the ruling.
Fidelity ranks 20th among Metroplex banks in total assets ($317.9 million) and 19th in deposits ($289.2 million).
In his ruling on Dec. 30, U.S. District Judge Barefoot Sanders cleared the way for 23 dissenting stockholders to receive an extra $4.89 per share from Fidelity That would increase its 1995 purchase …