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NORWEST SIGNS DEFINITIVE AGREEMENT TO ACQUIRE FIRST STATE BANK OF SPRING LAKE PARK

 MINNEAPOLIS, Feb. 1 /PRNewswire/ -- Norwest Corporation (NYSE: NOB) has signed a definitive agreement to acquire M&D Holding Company, which owns a majority interest in First State Bank of Spring Lake Park.
 The acquisition has been approved by the boards of both companies and requires the approval of regulatory agencies and shareholders of M&D Holding Company and First State Bank of Spring Lake Park. The acquisition is expected to close in mid-1993.
 "The addition of M&D will give Norwest new locations in two growing northern Twin Cities suburbs, Spring Lake Park and Blaine, where we do not now have offices," said Jim Gossen, Norwest regional banking president. "We expect to gain not only new customers from the acquisition but to also provide our many existing customers in those communities with greater banking convenience and even better access to Norwest's wide array of banking, insurance, investment and other financial products."
 At Dec. 31, 1992, First State Bank of Spring Lake Park had assets of $61 million and deposits of $51 million.
 Norwest Bank Minnesota, with assets of $12.9 billion, has 75 banking locations in the Twin Cities. It is the largest banking affiliate of Norwest Corporation, a $44.6 billion company providing banking, insurance, investments and other financial services through 1,946 offices in all 50 states, all 10 Canadian provinces and other international locations.
 -0- 2/1/93
 /CONTACT: Patrice Vick of Norwest Corporation, 612-667-0148/
 (NOB)


CO: Norwest Corporation ST: Minnesota IN: FIN SU: TNM

AL -- MN012 -- 1323 02/01/93 11:20 EST
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Publication:PR Newswire
Date:Feb 1, 1993
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