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METROPOLITAN FINANCIAL SHAREHOLDERS APPROVE ALL BUSINESS ITEMS BOARD DECLARES 2-FOR-1 STOCK SPLIT

 METROPOLITAN FINANCIAL SHAREHOLDERS APPROVE ALL BUSINESS ITEMS
 BOARD DECLARES 2-FOR-1 STOCK SPLIT
 MINNEAPOLIS, May 6 /PRNewswire/ -- Metropolitan Financial Corporation (NYSE: MFC) announced today at the annual meeting of shareholders, that shareholders approved all corporate business items outlined in the company's Notice of the Annual Meeting of Stockholders, and the company declared a 2-for-1 stock split.
 Shareholders voted overwhelmingly to re-elect R. Douglas Larsen and William C. Marcil to three year terms as directors of the corporation.
 Shareholders voted to amend the Metropolitan Financial Corporation 1990 Stock Option Plan to increase the number of shares reserved for issuance under the plan from 480,000 to 780,000, and they approved the Metropolitan Financial Corporation Executive Incentive Compensation Plan. Shareholders also voted to adopt the Metropolitan Financial Corporation Employee Stock Purchase Plan, and ratified the appointment of Ernst & Young as auditors for the company for the fiscal year ending Dec. 31, 1991.
 As reported earlier today, the board of directors of Metropolitan Financial announced at the annual meeting that it has approved a two- for-one stock split, effective in the form of a 100 percent stock dividend, and anticipates increasing the cash dividend approximately 22 percent with the next cash dividend scheduled for payment on July 31, 1992.
 Metropolitan Financial Corporation is a regional financial services holding company. Its full service consumer savings bank, Metropolitan Federal Bank, fsb, Fargo, N.D., operates over 140 offices in 114 communities in the states of North Dakota, Minnesota, Iowa, South Dakota, Wisconsin and Arizona. At March 31, 1992, the company reported consolidated assets of $5.02 billion and deposits of $3.97 billion.
 Metropolitan is one of the Twin Cities' largest originators of residential mortgage loans. The corporation's real estate sales and brokerage subsidiary, Edina Realty, Inc., has been rated number 1 nationally in customer satisfaction by a leading consumer magazine and serves Minnesota and western Wisconsin with over 1600 sales associates in 36 locations.
 Metropolitan Financial Corporation's common stock trades on the New York Stock Exchange, under the symbol MFC. The Series B preferred stock and warrant trade on the NASDAQ System under the symbols MFCNP and MFCNW, respectively.
 -0- 5/6/92
 /CONTACT: William Bartkowski of Metropolitan Financial, 612-928-5003/
 (MFC) CO: Metropolitan Financial Corporation ST: Minnesota IN: FIN SU:


AL -- MN003 -- 7242 05/06/92 15:58 EDT
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Publication:PR Newswire
Date:May 6, 1992
Words:385
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