CAPITAL BANK BECOMES UNION PLANTERS BANK

Capital Bank becomes Union Planters Bank today.

Charles Daniel, president and chief executive officer of the new Union Planters operation here, and Benjamin W. Rawlings Jr., chairman and chief executive officer of Union Planters Corporation, are announcing today that the financial service companies have completed the merger process announced in mid-1995.

Capital Bancorporation Inc., a multi-bank holding company headquartered in Cape Girardeau, announced the agreement to sell to Union Planters Corp. of Memphis, Tenn., in June 1995.

"Everybody benefits from our new partnership," said Daniel, who was president and chief operating officer at Capital Bank.

Among the new benefits, said Daniel, "our customers will have access to more enhanced products and services." He added that shareholders will have new ownership of Union Planters Corporation stock and that employees will benefit from the support of an $11 billion financial services institution.

"Our customers can expect the signs to change but not the service they have come to count on from us," said Daniel. The new signs are expected to be installed by the middle of January.

Union Planters Corp., UPC on the New York Stock Exchange (listed at 31 5\8 Friday), serves customers through 40 banking affiliates with more than 400 offices in seven states -- Missouri, Arkansas, Alabama, Kentucky, Louisiana, Mississippi and Tennessee -- with assets totaling approximately $11 billion.

Twenty-six Union Planter's affiliate banks with 87 offices are located in Tennessee. Other Union Planter's operations include: Three banks with 124 offices in Mississippi; six banks with 34 offices in Arkansas; one bank with 15 offices in Louisiana; one bank with 7 offices in Alabama; one with 5 offices in Kentucky and the former Capital Banks in Missouri and Arkansas.

Capital Bancorporation operated 35 facilities through five subsidiary banks in Southeast, Central and Eastern Missouri and Northern Arkansas, including Missouri operations at Cape Girardeau, Jackson, Poplar Bluff, Sikeston, Perryville, Ozark, Ashland, Springfield, Branson, Columbia and St. Louis.

Total Capital Bancorporation employment was 550, with 177 employees in Cape Girardeau County and 296 in Southeast Missouri.

Under the agreement Union Planters exchanges 1.185 shares of common stock for each common share of Capital. The Board of Governors of the Federal Reserve System approved the transaction in November 1995, and stockholders of both companies approved the transaction in December.

"We are obviously pleased to have Capital join our team," said Rawlings. "This affiliation will be structured reinforcing our long-standing belief that banks are best managed by a strong local board of directors and management team."

Union Planters Corporation was recently named fifth in safety and soundness out of the nation's 100 largest bank holding companies. The rating was by U.S. Banker magazine.

Aldi Foods in new facility

Aldi Foods Inc. will open its doors in a new location and new building today.

Aldi's, headquartered at O'Fallon, Mo., has operated at 209 S. Kingshighway since coming to Cape Girardeau more than 15 years ago. It has moved to a new 15,000-square-foot facility at 2145 Independence (the intersection of independence and Kingshighway).

"We've moved to a bigger and better visibility location," said Jim Mittrucker, Aldi's district manager. "We have ample parking facilities. We'll be observing our grand re-opening this week."

Store hours at the new facility are 9 a.m. to 7 p.m. Monday through Thursday, 9 a.m. to 8 p.m. Friday and 9 a.m. to 6 p.m. Saturday. The store is closed on Sunday.

Cindy Flannery is manager of the local Aldi's store.

Aldi's, which offers a limited assortment of items at low prices, has 64 stores in its St. Louis Division. The Cape Girardeau store opened in October 1980.

New restaurant at Jackson

Woodard's Smorgasbord Restaurant has been serving home-cooked meals to the residents of the Delta area. Now the Woodards hope to do the same for customers in Jackson.

The restaurant, which closed its Delta location Dec. 16, will open at 6 a.m. Tuesday in a new location, 1830 E. Highway 61 in Jackson.

"People think when you move you make changes but all the mainstays are still here," said Ron Woodard Jr., adding that during employee training some customers had come in hoping to enjoy a meal. "Nothing has changed. It's the same food and the same recipes."

The sign reads "Good food everyday at everyday prices," and a member of the Woodard family will always be present to check the quality of the food, he said.

Most recipes are family secrets that have been passed from generation to generation. "It's a little bit of everything," said Woodard, who manages the restaurant. "Some we even invented ourselves. We still roll our own dumplings and bake our bread by hand when most places use machines. It makes a difference when you cook by hand."

Ron and Glenda Woodard started the business in 1979 with a restaurant in Bell City. Their restaurant features a menu of home-cooked foods like chicken and dumplings, ribs, homemade rolls and pies.

Despite the consistency of menu items, some things have changed in the move. The restaurant now employs about 60 people instead of 15.