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COMPTROLLER RELEASES FIRST BANK FROM 1990 FORMAL AGREEMENT

 COMPTROLLER RELEASES FIRST BANK FROM 1990 FORMAL AGREEMENT
 MINNEAPOLIS, Dec. 13 /PRNewswire/ -- First Bank System, Inc. (NYSE: FBS) said today that its lead bank, First Bank National Association, has been released from the formal agreement with the Comptroller of the Currency entered into in 1990. The agreement arose from the OCC's 1989 review of the bank's lending activities and required revisions to the loan underwriting process, a plan to reduce problem assets and modifications of internal lending limits.
 "We interpret the OCC's decision to release the formal agreement as an acknowledgement of the progress we have made in managing our business risk and strengthening the balance sheet," said John F. (Jack) Grundhofer, FBS chairman, president and chief executive officer.
 First Bank System is a regional bank holding company headquartered in Minneapolis with assets of $17.9 billion. The company provides complete financial services to individuals and institutions through 34 banks and trust companies with more than 158 offices located in Minnesota, Colorado, Montana, North Dakota, South Dakota, Washington and Wisconsin.
 -0- 12/13/91
 /CONTACT: Wendy Raway, 612-370-5154, or Thomas Rice, 612-370-3596, both of First Bank/
 (FBS) CO: First bank System, Inc. ST: Minnesota IN: FIN SU:


KH -- MN007 -- 2269 12/13/91 09:25 EST
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Publication:PR Newswire
Date:Dec 13, 1991
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