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BANC ONE ANNOUNCES APPROVAL OF TEAM BANK

 BANC ONE ANNOUNCES APPROVAL OF TEAM BANK
 COLUMBUS, Ohio, Oct. 29 /PRNewswire/ -- Banc One Corporation


(NYSE: ONE) said that the Federal Reserve Board has approved the pending acquisition of Team Bancshares Inc. of Dallas. The consolidation of Team Bancshares into Bank One, Texas will be accounted for as a pooling of interests, and is expected to be effective Nov. 30, 1992.
 The acquisition of Team Bancshares will strengthen a number of markets already served by Bank One, Texas. As a result of the in-market consolidation, Banc One expects to take a one-time charge of up to $24 million after tax in the fourth quarter of 1992.
 John B. McCoy, chairman and chief executive officer of Banc One, said, "We are comfortable with the consensus of analysts' earnings estimates for Banc One of $.88 to $.90 per share for the fourth quarter, exclusive of the one-time charge at Team Bank, which is approximately $.10 a share." Of this one-time non-credit related charge, $12 million relates to redundant facilities, with the remainder being for other expenses directly related to the consolidation of Team Bank with Bank One, Texas.
 Banc One Corporation had assets of $51.2 billion as of Sept. 30, 1992, and total equity of $4.5 billion. Banc One operates 57 banks with 887 offices in Illinois, Indiana, Kentucky, Michigan, Ohio, Texas and Wisconsin. Banc One Corporation also operates several additional corporations that engage in data processing, venture capital, investment and merchant banking, trust, brokerage, equipment leasing, mortgage banking, consumer finance and insurance.
 -0- 10/29/92
 /CONTACT: George R.L. Meiling, 614-248-5908; or John A. Russell, 614-248-5989; both of Banc One Corporation/
 (ONE) CO: Banc One Corporation ST: Ohio IN: FIN SU: TNM


KK -- CL022 -- 6665 10/29/92 14:20 EST
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Publication:PR Newswire
Date:Oct 29, 1992
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