When First Bank System Inc. combines most of its nine banks into one on June 1, the change will hardly cause a ripple.

That's because Minneapolis-based First Bank, which plans to take advantage of interstate branching under the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, has been operating as one bank for several years even though legally it holds multiple charters.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.