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FIRST BANK SYSTEM RECEIVES FED APPROVAL TO ACQUIRE BANK SHARES INCORPORATED

 MINNEAPOLIS, Dec. 1 ~PRNewswire~ -- First Bank System, Inc. (NYSE: FBS) today announced that late yesterday the Federal Reserve Board approved its application to acquire Bank Shares Incorporated (BSI) and its 22 Marquette Bank locations in the Minneapolis~St. Paul area with $2.1 billion assets.
 The transaction is expected to close by Dec. 31, 1992.
 On Oct. 22, FBS announced that the previously announced merger agreement had been renegotiated to exclude Marquette Bank Rochester, Minn., in order to satisfy Department of Justice and Minnesota Attorney General concerns about competition in the Rochester market. Marquette Bank Rochester has $191 million in assets.
 First Bank System is a regional bank holding company headquartered in Minneapolis with assets of $18.1 billion. The company provides complete financial services to individuals and institutions through 28 banks and trust companies with 161 offices located in Minnesota, Colorado, Montana, North Dakota, South Dakota, Wisconsin, Washington and California.
 -0- 12~1~92
 ~CONTACT: John Danielson, investor relations, 612-973-2261, or Wendy Raway, media relations, 612-973-2429, both of First Bank System~
 (FBS)


CO: First Bank System, Inc.; Bank Shares Incorporated ST: Minnesota IN: FIN SU: TNM

KH -- MN004 -- 2362 12~01~92 11:08 EST
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Publication:PR Newswire
Date:Nov 24, 1992
Words:196
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