COLUMBUS, Ohio, May 14 /PRNewswire/ -- BANC ONE CORPORATION
(NYSE: ONE) today announced that the meeting of its shareholders to approve
the acquisition of First USA (NYSE: FUS) with BANC ONE has been scheduled for
June 26, 1997. The related meeting of the shareholders of First USA, Inc. has
been scheduled for June 27, 1997. Materials relating to such meetings are
being mailed to shareholders of each company.
BANC ONE also announced it terminated the authorization to make further
purchases of BANC ONE shares under two open treasury share acquisition
authorizations. Specifically, authorizations in April 1996 for 10 million
shares of which 9.5 million were purchased during 1996 and the January 1997
authorization for 12 million shares to be issued in exchange for the
acquisition of Liberty Bancorp, Inc. of which 8.1 million shares were
purchased all during the 1997 first quarter.
First USA is a financial services company specializing in the credit card
business and is among the largest providers of Visa and MasterCard services in
the nation. First USA had approximately 16.3 million credit cards issued and
$23.2 billion in managed receivables at March 31, 1997. In addition, BANC ONE
had approximately 16.5 million credit cards issued and $11.9 billion in
managed credit card receivables at March 31, 1997.
BANC ONE CORPORATION had assets of $101.6 billion and common equity of
$8.2 billion at March 31, 1997. BANC ONE now operates 1,502 offices in
Arizona, Colorado, Illinois, Indiana, Kentucky, Louisiana, Ohio, Oklahoma,
Texas, Utah, West Virginia and Wisconsin. BANC ONE also owns several
additional corporations that engage in credit card and merchant processing,
consumer finance, mortgage banking, insurance, venture capital, investment and
merchant banking, trust, brokerage, investment management, equipment leasing
and data processing.
Information about BANC ONE's financial results and its products and
services can be accessed on the Internet at: http://www.bankone.com and
through InvestQuest(TM) at http://www.investquest.com or Fax-on-demand:
614-844-3860.
SOURCE BANC ONE CORPORATION
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CONTACT:
Jay S. Gould, 614-248-0189, or Jacqueline R.
Spak, 614-248-1280, or John A. Russell, 614-248-5989, all of BANC
ONE CORPORATION
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