BANKING & FINANCE - Jan. 10, 1996

First Bank Reports 22.9% Increase in Profit: The Minneapolis-based bank reported that fourth-quarter profit from operations rose 22.9%, and predicted victory by the end of March in its $9.5-billion bid for First Interstate Bancorp. First Bank System Inc. said net income rose to $150.7 million, or $1.14 a share, compared with profit from operations of $122.6 million, or 90 cents, in the year-ago quarter, as higher fees from credit cards and other businesses offset lower investment income. Last year, First Bank reported a loss of $35.3 million, 28 cents a share, after a $156-million charge for the acquisition of Metropolitan Financial Corp. The results come as First Bank is embroiled in a takeover fight for Los Angeles-based First Interstate, which agreed to be acquired by First Bank in response to a hostile bid from rival Wells Fargo & Co.