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FIRST BANK SYSTEM ANNOUNCES EXECUTIVE APPOINTMENTS FOR COMBINED COLORADO NATIONAL BANKSHARES AND CENTRAL BANK/BANK WESTERN ORGANIZATION

 MINNEAPOLIS, Jan. 13 /PRNewswire/ -- First Bank System, Inc. (NYSE: FBS), owner of Colorado-based Central Bank and Bank Western, today announced the following appointments that will become effective upon regulatory approval and completion of its previously announced merger with Colorado National Bankshares, Inc. (NASDAQ: COLC).
 As previously announced, Colorado National's chairman of the board, president and chief executive officer, Will F. Nicholson, Jr., will become chairman, president and chief executive officer of the combined Colorado bank holding company, which will continue to be called Colorado National Bankshares, Inc. Robert J. Malone, who currently serves as chairman and chief executive officer of the combined Central Bank/Bank Western organization, will become chairman and chief executive officer of the three combined banks, which will be known as Colorado National Bank. The current president of Central Bank/Bank Western, Daniel W. Yohannes, will serve as president of Colorado National Bank and will be responsible for retail banking. James L. Basey, current president and chief executive officer of Colorado National Bank, will become vice chairman and chief administration officer for Colorado National Bank. In this capacity, Basey will be responsible for coordinating staff functions. Denny D. Dumler will continue to serve as chief executive officer of Rocky Mountain BankCard System. He currently serves as its president as well as being responsible for retail banking at Colorado National Bank. Michael W. Kellogg, who currently serves as a senior vice president in the trust and investment group of First Trust National Association in Minnesota, will become executive vice president of the trust and investment activities for Colorado National Bank.
 Nicholson has been associated with Colorado National Bankshares since 1970 and has served as chairman and chief executive officer since 1985.
 Malone previously served as chairman and chief executive officer of Western Capital Investment Corporation. Prior to that time he was president and CEO of First Interstate Bank of Denver. He began his banking career in 1969 at Bank of America.
 Yohannes joined Central Bank as general manager of retail banking in 1992. He was previously associated with Security Pacific Bank in Seattle where he served as executive vice president of retail banking.
 Basey joined Colorado National Bankshares in 1970. He was named senior vice president and controller in 1981 and was promoted to chief financial officer in 1985. He was elected executive vice president in 1988.
 Dumler has been associated with Colorado National since 1965 and was appointed senior vice president in 1981. He was elected executive vice president of PLUS System in 1985.
 Kellogg joined the institutional trust group of First Trust in 1986 and was promoted to manager of the trust investment group in 1991. Prior to joining First Trust has was a founding partner of an Omaha, Neb.-based investment advisory firm. Kellogg also previously was a portfolio manager for Norwest Capital Management and Trust.
 -0- 1/13/93
 /CONTACT: James Basey of Colorado National, 303-892-4089; or Wendy Raway of First Bank System, 612-973-2429/
 (FBS COLC)


CO: First Bank System, Inc.; Colorado National Bankshares, Inc. ST: Minnesota, Colorado IN: FIN SU: PER

KH -- MN010 -- 4569 01/13/93 16:34 EST
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Publication:PR Newswire
Date:Jan 13, 1993
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