Bank One Corp. spent $1.2 billion in the third quarter, bolstering its badly sagging stock and accounting for more than one-fifth of total stock buybacks by the nation's 25 largest banks.

During the period, Bank One's shares fell more than 38% after it said it would not meet earnings projections. The statistics, compiled by Keefe, Bruyette & Woods Inc., do not include any activity in the fourth quarter, when Bank One again stunned the market with bad news about its earnings, causing its stock to sink further.

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