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METROPOLITAN FINANCIAL COMPLETES MINNESOTA ACQUISITION

 MINNEAPOLIS, Dec. 1 ~PRNewswire~ -- Metropolitan Financial Corporation (NYSE: MFC) announced today that it has completed the acquisition of Minnesota's eighth-largest thrift, Home Owners Savings Bank of Fergus Falls, Minn., with assets totalling approximately $137 million. Metropolitan paid $4.5 million for all the stock of the thrift.
 A healthy thrift with five branch offices located in Fergus Falls, Pelican Rapids, Perham, Wheaton and Bloomington, Minn., Home Owners Savings had deposits totalling $119 million. The branch offices today became part of the office network of Metropolitan Federal Bank, fsb, Metropolitan Financial's savings bank subsidiary.
 "The objective of joining Home Owners Savings Bank with Metropolitan Federal Bank is to emerge with a stronger, larger, more diverse organization which can serve its customers and communities more effectively than ever before," said Stan K. Dardis, president of Metropolitan Federal Bank. "The customers of Home Owners Savings will now have 156 offices across the Heartland and in Arizona through which they can do their banking. They will find the same dedication to quality service in all of these offices as they have found at Home Owners Savings Bank."
 M. Gene Donley, president of Home Owners Savings Bank, commented, "If I could have hand picked the acquirer for the institution I've been associated with for the past 32 years, I could not have chosen a better organization than Metropolitan Financial Corporation."
 Norman M. Jones, chairman and CEO of Metrop&litan Financial Corporation, said, "Our acquisition of this well-managed and well- capitalized thrift strengthens our Heartland presence in west central Minnesota and puts Metropolitan closer to our goal for the year of 180 offices in seven states."
 Metropolitan expects its previously announced merger with American Charter Federal Savings and Loan Association of Lincoln, Neb. with 27 branches in 17 communities to close before Dec. 31, 1992. By mid-1993, Western Financial Corporation of Overland Park, Kan. and National City Bancorporation of Minneapolis are expected to join Metropolitan's Heartland banking network.
 Metropolitan Financial Corporation is a regional financial services holding company. Its full service consumer savings bank, Metropolitan Federal Bank, Fargo, North Dakota, operates over 155 offices throughout six states and reported tangible, core and risk based capital ratios of 7.45 percent, 8.12 percent and 15.57 percent respectively, on Sept. 30, 1992.
 The corporation's real estate sales and brokerage subsidiary, Edina Realty, Inc., serves Minnesota and western Wisconsin with over 1,750 sales associates in 39 locations.
 -0- 12~1~92
 ~CONTACT: Steven B. Dewald of Metropolitan Financial Corporation, 612-928-5003~
 (MFC)


CO: Metropolitan Financial Corporation ST: Minnesota IN: FIN SU: TNM

KH -- MN003 -- 2328 12~01~92 10:28 EST
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Publication:PR Newswire
Date:Nov 24, 1992
Words:434
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