BANC ONE Announces 12% Quarterly Cash Dividend Increase and
                         12 Million Share Repurchase

    COLUMBUS, Ohio, Jan. 20 /PRNewswire/ -- BANC ONE CORPORATION (NYSE: ONE)
announced record 1996 earnings of $1.4 billion, a 12 percent increase over
1995 earnings of $1.3 billion.  1996 earnings of $3.23 per share represented
an 11 percent increase over 1995 earnings of $2.91 per share.  Earnings for
the fourth quarter of 1996 were $370 million or $.85 per share, an increase
from $337 million or $.77 per share reported in the fourth quarter 1995.
    John B. McCoy, Chairman and Chief Executive Officer of BANC ONE
CORPORATION, said, "We are very pleased with the Corporation's performance
throughout 1996.  Strong earnings resulted from momentum generated throughout
the franchise as we work toward becoming a national provider of financial
services.  Nearly all BANC ONE businesses and markets achieved great success
in meeting their goals in 1996."
    McCoy also announced the Corporation's Board of Directors approved an
increase in the quarterly cash dividend paid on the common stock from $.34 to
$.38 per share.  On an annualized basis, the cash dividend of $1.52 per share
is an increase of 12 percent above BANC ONE's 1996 dividend rate of $1.36 per
share.  The board of directors also approved a cash dividend of $.875 per
share on shares of the BANC ONE Series C Preferred Stock. Both cash dividends
are payable on March 31, 1997 to shareholders of record March 14, 1997.
    In other actions, the board of directors approved the repurchase of up to
12 million shares of BANC ONE common stock for use in the previously announced
acquisition of Liberty Bancorp, Inc., a multibank holding company
headquartered in Oklahoma City, Okla.  These purchases may be effected through
public and private transactions.  The transaction was announced in the fourth
quarter of 1996 and is expected to close at the end of the second quarter of
1997.
    For the year, profitability remained strong as the Corporation earned
1.48 percent on average assets and 17.11 percent on average common equity.
Book value per common share increased to $19.75 at year end from $18.58 at
December 31, 1995.
    Taxable equivalent net interest income increased 17 percent to
 $4.9 billion from $4.2 billion a year ago.  Average earning assets grew
11.1 percent to $88.0 billion from $79.2 billion a year ago.  BANC ONE's net
interest margin increased 28 basis points to 5.59 percent from 5.31 percent in
1995. BANC ONE experienced strong fourth quarter loan growth in nearly all
loan categories and regions.  Average managed loan balances grew 10 percent
compared to the prior year.
    Non-interest income before securities transactions increased 16 percent or
$293 million to $2.1 billion for the year from $1.8 billion in 1995.
Non-interest income growth resulted primarily from increased revenue from
investment management, insurance, securities brokerage and investment banking,
all of which achieved growth in excess of 11 percent.  The inclusion of BANC
ONE Louisiana and revenue from mortgage banking also contributed to the
growth.  During the fourth quarter, the Corporation recognized a gain of
$97 million due to the sale of a loan portfolio.
    Non-interest expense totaled $4.2 billion in 1996, an increase from
$3.6 billion in 1995.  The increase in non-interest expenses was principally
due to the addition of BANC ONE Louisiana and expenses associated with the
Corporation's strategic initiative for the consolidation and standardization
of systems and procedures.  The Corporation's efficiency ratio improved to
59.3 percent for 1996 compared to 60.0 percent a year ago.
    BANC ONE's ending allowance for credit losses was $1.1 billion or
1.45 percent of ending loans, and provided coverage of 281 percent of
nonperforming loans.  The provision for credit losses increased in the fourth
quarter to $244 million and exceeded net charge-offs of $230 million by
$14 million.
    BANC ONE CORPORATION had assets of $101.8 billion and common equity of
$8.4 billion at December 31, 1996.  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.

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