COLUMBUS, Ohio, Feb. 11 /PRNewswire/ -- BANC ONE CORPORATION has selected
Oklahoma City to become the processing site for all of BANC ONE's securities
safekeeping business nationwide. "The Oklahoma City location is expected to
employ a staff of 35 full-time employees by the end of 1998," according to
William M. Bell, President of Bank One, Oklahoma, NA.
Currently, a BANC ONE facility in Oklahoma City supports approximately
2,500 securities safekeeping accounts for clients in Oklahoma. By the end of
the year, that facility will expand to process nearly 25,000 retail and
institutional safekeeping accounts from around the country that represent
$28 billion in holdings.
"We decided to locate this new national business in Oklahoma City because
of several factors," Bank President Bell said. "One of the key reasons was
that our facility already has a large-scale operation in place and uses a
processing system that has the potential to offer enhanced products and
services to a large, national client base. We're proud to have the opportunity
to support one of BANC ONE's national businesses here in Oklahoma City," Bell
added.
Safekeeping products and services offered by BANC ONE include: maintaining
customer custodial accounts, disbursing securities principal and interest to
customers, processing pledged and released securities, and serving as an
authorized custodian for securities pledged to local governments.
BANC ONE CORPORATION, headquartered in Columbus, Ohio, is the eighth
largest bank holding company in the United States. BANC ONE had managed total
assets of $147 billion, total assets of $115.9 billion and common equity of
$10.2 billion at December 31, 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.
SOURCE BANC ONE CORPORATION
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Related links:
http://www.bankone.com
CONTACT:
John Russell of BANC ONE CORPORATION,
614-248-5989, or William M. Bell of Bank One, Oklahoma,
405-231-6232
CNOC: http://www.prnewswire.com or fax, 800-758-5804, ext.
084675
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