FOR IMMEDIATE RELEASE                                          AT
MONDAY, DECEMBER 11, 1995                          (202) 616-2771
                                               TDD (202) 514-1888


      JUSTICE DEPARTMENT APPROVES BANK MERGER IN THE PACIFIC
    NORTHWEST AFTER PARTIES AGREE TO $614 MILLION DIVESTITURE

     WASHINGTON, D.C. -- Two Pacific northwest banks, U.S.
Bancorp of Portland, Oregon, and West One Bancorp of Boise,
Idaho, will be permitted to merge as long as U.S. Bancorp sells
27 bank offices in Washington and Oregon, the Department of
Justice's Antitrust Division said today.  The Department said the
restructured deal will preserve competition in the Pacific
northwest for banking services to small and medium-size
businesses.
     Anne K. Bingaman, Assistant Attorney General in charge of
the Antitrust Division, said, "This acquisition as originally
structured could have put small businesses at a competitive
disadvantage in a number of markets in Oregon and Washington. 
This divestiture package will ensure that the prices and services
which are offered to consumers will remain competitive."
     The Department investigated the U.S. Bancorp/West One merger
to determine whether it would lessen competition in banking
services in the Pacific northwest.  Its approval of the deal was
stated in a letter to the Federal Reserve Board.  
     The offices to be divested include:
       21 branches (with $480 million in deposits) in the
Portland area and in Lincoln, Columbia, Jefferson, Malheur and
Wasco counties in Oregon.
       Five branches (with $134 million in deposits) in the
Yakima and Tri-Cities areas and Whatcom and Kittitas counties in
Washington.
      One building in the Tri-Cities area in Washington.
     U.S. Bancorp has 462 branches, with $15.2 billion in
deposits and $21.6 billion in total assets, located throughout
Oregon, Washington, Nevada, California and Idaho.
     West One Bancorp has 226 offices, with $7 billion in
deposits and $8.9 billion in total assets, located throughout
Oregon, Washington, Idaho and Utah.
     The investigation was conducted jointly with the state
attorney general's office in Washington.  Bingaman stated that
she was pleased to be able to work with the state of Washington
to protect competition.
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