Capital Bancorporation Inc. of Cape Girardeau announced Friday the completion of the acquisition of Home Federal Savings and Loan Association of Jonesboro, Ark.

The Arkansas financial facility had assets of $80 million.

Home Federal has three banks in Jonesboro and a lone production office in Paragould, Ark. The name of the Arkansas facility has been changed to Capital Bank, A Federal Savings Bank. Capital Bancorporation's consolidated assets are $1.1 billion with the acquisition.

The aggregate cash purchase for the Jonesboro facilities, which was financed through debt provided by an unaffiliated lender, was $6,856,879. The combination was accounted for using the purchase method of accounting.

As announced last month, Union Planters Corp. of Memphis, Tenn., and Capital Bancorporation have entered into a definitive agreement in which UPC would acquire all of the outstanding stock of Capital in a transaction valued at $114 million. The transaction is expected to be completed during the first quarter of 1996 and is subject to a due diligence review and shareholder and regulatory approval.

Capital's acquisition of the Jonesboro property was figured in the Capital-UPC deal.

Capital is multi-bank holding company operating at 35 banking sites through seven subsidiary banks in southeastern, southwestern, central and eastern Missouri and northeastern Arkansas.