Bank One aside, acquisitions likely to continue.(mergers among Cincinnati-area banks)(Brief Article)

McCoy focusing online, but others to grow by buying

Cincinnati's banking scene bears witness to the mergers and acquisitions boom of the 1990s. Area thrifts have dwindled while the largest banks gobble up in-market competitors and expand their territories with larger deals.

But recent developments could slow the pace of banking consolidation after next year. Though near-term M&A activity could be furious, electronic distribution of services and a more stringent accounting system for mergers could put a dent in the number of future bank mergers, analysts say.

In May, Bank One Corp. chairman John McCoy said his company would no longer need to acquire any more banks, choosing instead, to invest in online banking for growth.

The comment from the head of the nation's fifth-largest bank holding company suggested to some observers that the days of acquisitions are coming to an end. But for many banks, that's not true. The …