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FIRST BANK SYSTEM RECEIVES REGULATORY APPROVAL TO ACQUIRE AMERICAN BANCSHARES OF MANKATO

 MINNEAPOLIS, Dec. 31 /PRNewswire/ -- First Bank System, Inc. (NYSE: FBS) today announced that it has received approval from the Board of Governors of the Federal Reserve System in Washington, D.C., to acquire American Bancshares and Eagle Insurance Agency, Inc. of Mankato, Minn. American Bancshares owns American Bank Mankato which has three additional offices in Amboy, Blooming Prairie and Lamberton, Minn., with combined assets of $120 million. Eagle Insurance has annual premium revenue of $3.2 million.
 FBS expects the transaction to close Feb. 28, 1994, but stated that there would be no noticeable changes to customers until after the bank is converted, which is expected to take place in mid-March. Customers will be notified in advance of the conversion date of any changes to their accounts.
 First Bank has two locations in Mankato with deposits of $92 million at Sept. 30, 1993.
 First Bank System is a regional bank holding company headquartered in Minneapolis with assets of approximately $26 billion. The company provides complete financial services to individuals and institutions through nine banks and other financial companies with over 200 offices, primarily in Minnesota, Colorado, Montana, North Dakota, South Dakota and Wisconsin.
 -0- 12/31/93
 /CONTACT: John Danielson, Investor Relations, 612-973-2261 or Wendy Raway, Media Relations, 612-973-2429, both of First Bank System; or Brad J. Buscher, President & CEO, of American Bancshares, 507-345-4531/
 (FBS)


CO: First Bank System,, Inc.; American Bancshares of Mankato ST: Minnesota IN: FIN SU: TNM

DS -- MN004 -- 8304 12/31/93 11:48 EST
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Publication:PR Newswire
Date:Dec 31, 1993
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