MINNEAPOLIS -- First Bank System Inc. said Friday that it completed its previously announced acquisition of Colorado National Bankshares following approval of its shareholders. Colorado National shareholders approved the acquisition Thursday in Denver.

The Minnesota-based company also said that its lead bank, First Bank National Association, has signed a purchase agreement to acquire Republic Acceptance Corp., a Minneapolis-based commercial finance company with approximately $35 million of assets. The purchase price for the transaction, expected to close this month pending approval from the Office of the Comptroller of the Currency, was not disclosed.

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