BANKING

First Bank Employees to Share in Breakup Fee: The Minneapolis-based bank said its employees will get $11 million of the $200 million cash coming to First Bank System Inc. because its merger with First Interstate Bancorp of Los Angeles did not come to pass. Chief Executive John Grundhofer said that on Feb. 15, full-time employees will each get $750 and part-timers will get less. First Bank was to be the “white knight” merger partner in First Interstate’s attempt to resist a hostile takeover bid from Wells Fargo & Co. of San Francisco. First Interstate accepted Wells’ offer last month. The definitive merger agreement between First Bank and First Interstate called for First Bank to get a $200-million breakup fee should First Interstate back out.