AIB's First Maryland subsidiary has raised another million acquisition of Dauphin Deposit Corporation is completed. Dauphin's 11,000 shareholders have until the close of business next Thursday to decide whether they wish to take cash or AIB shares for their shareholdings in the Pennsylvania bank.

A spokesman for AIB said that given that next Friday is July 4th -Independence Day - it is unlikely that AIB will know before next Monday or Tuesday what the balance will be between cash and shares.

AIB has previously made assumptions based on a 70-30 split between shares and cash, but sources believe that this shares- cash split is now likely to be closer to 60-40, a split that could see AIB pay around

The current note issue, together with Maryland has most of the likely cash requirement of the Dauphin acquisition cover.

If 60 per cent of the involve the issuing of about 105 million new AIB shares based on the current pound/dollar exchange rate.

This would increase the number of AIB shares in issue from the current 680.1 million to around 785 million. The increase in the shares in issue will depend on the exact split in cash and shares taken by Dauphin 11,000 share-holders.