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MID STATES BANCSHARES IN ILLINOIS TO JOIN BANC ONE

 COLUMBUS, Ohio, May 26 /PRNewswire/ -- Banc One Corporation (NYSE: ONE) and Mid States Bancshares, Inc., a single bank holding company operating the First National Bank of Moline, Ill., jointly announced today that they have signed an agreement for the merger of Mid States Bancshares Inc. with Banc One. The announcement was made by Willard Bunn III, chairman and chief executive officer of Banc One Illinois Corporation and Thomas H. Robinson, president and chief executive officer of Mid States Bancshares.
 Terms of the agreement call for Mid States shareholders to receive 1.98 shares of Banc One stock for each share of Mid States Bancshares Inc. stock. Total value of the transaction is approximately $32.5 million.
 Bunn said, "We are delighted to be joining with Mid States Bancshares whose management we have known well and admired over the last decade. We look forward to working with Tom Robinson and his team to develop both new product offerings for the Quad City customers and expanded job opportunities for the bank's employees."
 Robinson said, "We are proud to join the growing family of Banc One banks. Banc One is the premier banking organization in the country. Its policy of local autonomy is well known and respected and was important in our decision to join Banc One. It will permit us to provide even better banking services and products to customers in the Quad City area."
 Mid States Bancshares Inc. had assets of $192 million as of March 31, 1993, and operates two banking offices. As of March 31, 1993, Banc One Corporation had assets of $70 billion and now operates 78 banks with 1,340 offices in Arizona, California, Colorado, Illinois, Indiana, 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- 5/26/93
 /CONTACT: John A. Russell of Banc One, 614-248-5989; Willard Bunn of Banc One Illinois Corporation, 708-866-5889; or Thomas H. Robinson of Mid States Bancshares, Inc. (First National Bank of Moline), 309-757-8409/
 (ONE)


CO: Banc One Corporation; Mid States Bancshares, Inc. ST: Ohio, Illinois IN: FIN SU: TNM

KL -- CL005 -- 2311 05/26/93 08:52 EDT
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Publication:PR Newswire
Date:May 26, 1993
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