MINNEAPOLIS -- First Bank System Inc. said its board approved the repurchase of up to 1.5 million of its 114.4 million outstanding shares of common stock.

The transactions will be negotiated or occur from time to time in the open market. The board authorized the repurchases through January 1996, and they will be utilized for an employee stock purchase plan, dividend reinvestment plan, and other corporate purposes. The briefs were compiled from staff and wire reports.

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