Norwest Corp. has agreed to buy a $507 million-asset Minnesota bank for an undisclosed price.

Norwest said it would buy privately held International Bancorp., which is based in the Minneapolis suburb of Golden Valley and operates 17 small- town branches in northern Minnesota, including International Falls and Brainerd. Norwest, the biggest bank in Minnesota, said the acquisition would add to its 367-branch, $10.7 billion-asset state operation and is indicative of the company's community bank emphasis.

Analyst Ben Crabtree, Dain Bosworth, said Norwest is adept at buying privately held, small banks that are moderately profitable and adding up to 20% revenue growth. International Bancorp. made $5 million last year, mostly through residential mortgage lending.

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