Expanding its Indiana foothold, Norwest Corp. on Thursday agreed to buy Lincoln Financial Corp., Fort Wayne, in a stock swap valued at $170 million.

The purchase price equals a modest 1.15 times Lincoln Financial's book value. The company, with $2.25 billion in assets, reported losses of $26.4 million during the past 18 months. At midyear, it was saddled with $100 million of problem assets equaling 7.1% of gross loans.

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