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BANC ONE MORTGAGE CORPORATION FORMS WHOLESALE DEPARTMENT

 COLUMBUS, Ohio, July 26 /PRNewswire/ -- J. Albert Smith, Jr., president of Banc One Mortgage Corporation, announced that Banc One Mortgage will form a Wholesale Department within the Residential Production Division. The Wholesale Department will coordinate the efforts of a national initiative to increase the amount of wholesale lending business conducted by Banc One Mortgage.
 "This new organizational structure will permit us to expand our market share in this important segment of the mortgage business, resulting in a new customer base for Banc One," said Smith.
 Veronica Mensch, presently Banc One Mortgage's regional manager of Illinois Residential Production and previously president of First Illinois Mortgage Company, will become a senior vice president and manager of the wholesale department of Banc One Mortgage. Replacing Mensch as senior vice president and regional manager is James E. Lukas, formerly of First National Bank & Trust Co. of Rockford, Ill. The bank was acquired earlier this year by Banc One Corporation (NYSE: ONE). James L. Ludman, currently a senior vice president, will become manager of the southern wholesale production region for Banc One Mortgage Corporation.
 Banc One Mortgage Corporation, headquartered in Indianapolis, operates 95 offices in 16 states and originated $3.4 billion in single- family mortgages during the first six months of 1993. At June 30, Banc One Mortgage Corporation was servicing $18 billion in single-family mortgages.
 Banc One Mortgage Corporation is a division of Banc One Corporation which is headquartered in Columbus, Ohio. As of June 30, 1993, Banc One Corporation had assets of $75.5 billion and now operates 78 banks with 1,340 offices in Arizona, California, Colorado, Indiana, Illinois, Kentucky, Michigan, Ohio, Texas, Utah, West Virginia and Wisconsin. Banc One Corporation also operates several additional corporations that engage in data processing, venture capital, investment and merchant banking, trust, brokerage, investment management, equipment leasing, mortgage banking, consumer finance and insurance.
 -0- 7/26/93
 /CONTACT: John Russell, 614-248-5989, or John Haggerty, 317-321-8400, both of Banc One Corporation/
 (ONE)


CO: Banc One Mortgage Corporation; Banc One Corporation ST: Ohio IN: FIN SU: RCN PER

KL -- CL026 -- 5865 07/26/93 16:21 EDT
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Publication:PR Newswire
Date:Jul 26, 1993
Words:350
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