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METROPOLITAN FINANCIAL COMPLETES EUREKA SAVINGS BANK MERGER AND EXPANDS KANSAS PRESENCE

 MINNEAPOLIS, Aug. 6 /PRNewswire/ -- Metropolitan Financial Corporation (NYSE: MFC) announced today that it has completed its acquisition of Eureka Savings Bank, fsb, Eureka, Kan.
 With this acquisition, Eureka Savings Bank, a federally chartered stock savings bank, merged with Metropolitan Federal Bank, fsb, the savings bank subsidiary of Metropolitan Financial Corporation. The acquisition expands Metropolitan's Kansas presence to almost $1 billion in assets and over 30 branches throughout the state. The value of the cash transaction has been placed at approximately $20.8 million.
 "We welcome the customers and employees of Eureka Savings Bank to Metropolitan Federal, the Heartland's bank," said Norman M. Jones, chairman and chief executive officer of Metropolitan Financial Corporation. "We are pleased to have the opportunity to expand our service within the state of Kansas. We look forward to continuing our tradition of providing personal savings and home ownership that are the basis of Metropolitan's banking mission."
 Metropolitan Federal Bank's products and services will be available in the former Eureka Savings Bank offices immediately. There will be no immediate changes in the products customers currently have with Eureka Savings. All Eureka Savings Bank accounts will be converted to traditional Metropolitan Federal accounts by the end of October, and customers will be notified well in advance of any changes which will occur as a result of the conversion.
 As of June 30, 1993, Eureka Savings Bank had assets of $241.6 million and deposits of $176.2 million. It operated ten branches in east central Kansas, with two branch offices in the Kansas City metropolitan area, and single branches in the communities of Eureka, Emporia, Wichita, Augusta, Fredonia, Iola, Andover and El Dorado.
 Metropolitan Financial Corporation initiated its Kansas presence on June 11, 1993, when it acquired Western Financial Corporation, Overland Park, Kan., and its wholly owned subsidiary, Columbia Savings, Emporia, Kansas. Columbia Savings had been the largest stock savings association in Kansas, operating 24 branches.
 Conversion of Eureka Savings Bank stock will be handled by American Stock Transfer & Trust Company, 40 Wall Street, 46th Floor, New York, NY 10005.
 Metropolitan Financial Corporation is a regional financial services holding company. Its full service consumer savings bank, Metropolitan Federal Bank, Fargo, North Dakota, operates over 190 offices throughout the states of Minnesota, North Dakota, Iowa, Kansas, Nebraska, South Dakota, Wisconsin and Arizona.
 Metropolitan Financial Corporation's common stock trades on the New York Stock Exchange under the symbol MFC. The Series B preferred stock and warrant trade on the NASDAQ System under the symbols MFCNP and MFCNW, respectively.
 -0- 8/6/93
 /CONTACT: Steve Caswell of Metropolitan Federal Bank, 316-583-5561/
 (MFC)


CO: Metropolitan Financial Corporation; Eureka Savings Bank, fsb ST: Minnesota, Kansas IN: FIN SU: TNM

KH -- MN013 -- 0357 08/06/93 14:31 EDT
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Publication:PR Newswire
Date:Aug 6, 1993
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