COLUMBUS, Ohio, Oct. 21 /PRNewswire/ --BANC ONE CORPORATION, Columbus,
Ohio (NYSE: ONE) reported earnings for the 1997 third quarter and nine months
of $433.2 million ($0.73 per common share) and $830.9 million ($1.40 per
common share), respectively.  This compares with $412.8 million ($0.69 per
common share) and $1.231 billion ($2.04 per common share) in the same year-ago
periods.
    Adjusting for the impact of the 1997 first quarter announced accounting
adjustment by First USA related to the recognition of securitization gains,
third quarter operating earnings would have been a record $480.2 million, up
16 percent, or $0.81 per common share, up 17 percent, from the year-ago
quarter.  On the same basis, and excluding the 1997 second quarter charges
related to the acquisition of First USA and other strategic initiatives, nine
month operating earnings would have been a record $1.3 billion, up 6 percent,
or $2.21 per common share, up 8 percent, from the same prior-year period.
    John B. McCoy, Chairman and Chief Executive Officer of BANC ONE
CORPORATION, said, "This was a spectacular quarter for BANC ONE.  Not only did
we produce strong earnings, but the operating ratios improved in most areas.
We have established great momentum and energy in loan growth, particularly in
the credit card business under First USA's management.  We are also very much
encouraged by the decline in credit losses.  We expect continued strong
performance for the remainder of 1997 and throughout 1998.  We are also
pleased with the announcement that was made on October 20 that First Commerce
in Louisiana plans to join BANC ONE in early 1998."
    Earnings strength was fueled by continued strong managed loan growth, a
wider managed net interest margin, and strong revenue growth which was
partially offset by higher expenses associated primarily with business
development.
    Average managed loans and leases increased during the 1997 third quarter
at an annualized rate of 13 percent.  Managed loans include the total of on-
balance sheet loans, loans sold with servicing retained excluding securitized
mortgages, and loans held for sale.  Average managed consumer loans, excluding
credit cards, increased at an 11 percent annualized rate.
    During the 1997 third quarter, average managed credit card loans increased
at an annualized rate of 27 percent with a record 2.3 million new credit card
accounts opened, exceeding the previous record of 2.2 million set last
quarter.  At September 30, 1997, managed credit cards totaled $38.9 billion,
up $2.8 billion from the end of the prior quarter with Cardmembers totaling
40.4 million, up 2.6 million.
    The managed net interest margin in the 1997 third quarter increased to
6.35 percent from 6.25 percent in the second quarter.  This resulted from a
combination of factors, but primarily was attributable to a better earning
asset mix reflecting the planned sale of low-margin investment securities and
generation of higher-margin consumer and credit card loans.
    Noninterest income totaled $1.1 billion, up $272.4 million from the 1997
second quarter reflecting growth in a number of fee income businesses, but
primarily credit card servicing income and venture capital gains.
    Noninterest expense totaled $1.5 billion, up $148.4 million from the
second quarter after excluding the second quarter's one-time charges primarily
reflecting higher business growth and development costs.
    Net charge-offs during the 1997 third quarter totaled $289.4 million
representing 1.34 percent of average loans and leases, down from
$293.8 million or 1.42 percent in the second quarter.  Net charge-offs on
managed credit card loans declined to 5.78 percent during the 1997 third
quarter from 6.22 percent in the prior quarter.  Managed credit card
delinquencies over 90 days declined to 2.02 percent at September 30, 1997 from
2.11 percent at June 30, 1997.
    Nonperforming assets at September 30, 1997 represented 0.58 percent of
period-end loans and leases, little changed from the 0.53 percent level at the
end of the second quarter.  The September 30, 1997 allowance for loan and
lease losses, expressed as a percent of period-end loans and leases, was
unchanged at 1.62 percent.
    Capital levels remained strong.  The September 30, 1997 total equity to
assets ratio was 8.92 percent, up 39 basis points from June 30, 1997, with the
tangible common equity to tangible assets ratio at 7.92 percent, up 40 basis
points.
    BANC ONE CORPORATION had total managed assets of $142.9 billion, total
assets of $113.1 billion, and common equity of $9.9 billion at September 30,
1997.  BANC ONE operates banking centers in 12 states.  BANC ONE also owns
several additional corporations that engage in a full range of financial
services.  Information about BANC ONE's financial results and its products and
services can be accessed on the Internet at: http://www.bankone.com; through
InvestQuest at: http://www.investquest.com; or through Fax-on-demand at:
614-844-3860.

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