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NORWEST COMPLETES ACQUISITION OF LINCOLN FINANCIAL CORPORATION; SURPASSES 2,000 IN LOCATIONS

 MINNEAPOLIS, Feb. 10 /PRNewswire/ -- Norwest Corporation (NYSE: NOB) today announced it has completed the acquisition of Lincoln Financial Corporation, a multi-bank holding company headquartered in Fort Wayne, Ind. The acquisition gives Norwest 60 additional banking locations and a total of 2,009 in all 50 states, all 10 Canadian provinces and internationally.
 "The combination of Lincoln Financial with Norwest gives Indiana and Ohio banking customers greater access than ever before to a broad array of banking, insurance, investments and other financial services," said Sid Bostic, president of Norwest banks in Indiana and Ohio. "In addition to products and services, we also bring a commitment to community involvement."
 Bostic stressed that decisions on lending, product pricing and customer service will continue to be made at the local level in Indiana and Ohio.
 With the acquisition, Norwest gains $2 billion in assets, 57 locations in northeastern Indiana and three locations in Ohio. Ohio becomes the 13th state in which Norwest has banking locations.
 Lincoln Financial customers will continue to use their existing checks, deposit slips, loan payment coupons and other Lincoln Financial banking materials. Lincoln Financial banks will display the Norwest name this spring.
 Norwest Corporation and Lincoln Financial announced a definitive agreement on Aug. 20, 1992. Lincoln Financial shareholders voted Tuesday to approve the transaction.
 In addition to banking locations gained in the Lincoln Financial acquisition, Norwest has six mortgage banking offices in Indiana and 10 in Ohio. Norwest Financial has 14 offices in Indiana and 25 in Ohio. Norwest Card Services and Norwest Equipment Finance, Inc., each also have one office in Indiana.
 Norwest Corporation is a $47 billion company providing banking, insurance, investments and other financial services through 2,009 locations in all 50 states, all 10 Canadian provinces and other international locations.
 -0- 2/10/93
 /CONTACT: Larry Haeg of Norwest Corporation 612-667-7043/
 (NOB)


CO: Norwest Corporation; Lincoln Financial Corporation ST: Minnesota, Indiana IN: FIN SU: TNM

DS -- MN004 -- 5023 02/10/93 09:18 EST
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Publication:PR Newswire
Date:Feb 10, 1993
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