FOR IMMEDIATE RELEASE	AT

MONDAY, MAY 4, 1998                                                                                                                                   (202) 616-2771

                                                                                                                                                                                 TDD (202) 514-1888




JUSTICE DEPARTMENT REACHES AGREEMENT WITH BANC ONE


FOR $614 MILLION DIVESTITURE IN LOUISIANA








Divestiture will Keep Loan Rates and Banking Services Competitive








	WASHINGTON, D.C. --  The Department of Justice reached an
agreement today with Columbus, Ohio-based Banc One Corp. clearing
its proposed $3.1 billion merger with First Commerce Corp. of New
Orleans, after the banks agreed to resolve the Department's
antitrust concerns by selling off 25 branch offices in Louisiana,
with total deposits of about $614 million. 

 	The divestiture involves First Commerce branches located in
Calcasieu, Lincoln, Ouachita, and Lafayette Parishes, Louisiana. 

	"With this divestiture, small and medium-sized business
consumers will continue to receive the most competitive loan
rates and the best banking services," stated Joel I. Klein,
Assistant Attorney General in charge of the Department's
Antitrust Division.

	Banc One also agreed that it would not take steps to
preclude other financial institutions from leasing or purchasing
any bank branches it may close due to consolidation.  Subject to
regulatory approvals, the 25 branches and associated loans and
deposits that Banc One will divest will be sold to a
competitively suitable buyer.   

	The proposed merger of Banc One Corp. and First Commerce
Corp. is subject to the approval of the Board of Governors of the
Federal Reserve System.  The Department said it will advise the
Federal Reserve Board that, subject to divestiture of the branch
offices and associated loans and deposits, the Antitrust Division
will not challenge the merger. 

	Banc One Corp. is headquartered in Columbus, Ohio, with more
than 1,300 offices located in several states--Arizona, Colorado,
Illinois, Indiana, Kentucky, Louisiana, Ohio, Oklahoma, Texas,
Utah, West Virginia, and Wisconsin.  It has total assets of
$116.3 billion and total deposits of $77.9 billion. 

	First Commerce Corp. is headquartered in New Orleans, and
has 145 offices located throughout Louisiana.  It has total
assets of about $9.5 billion and total deposits of about $7.7
billion.

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