MINNEAPOLIS - Norwest Corp. said it has signed a definitive agreement to acquire Irene Bancorp., the holding company of Farmers State Bank in South Dakota.

Terms of the deal were not disclosed. The acquisition, which Minneapolis-based Norwest said it expects to complete in early 1996, is subject to approvals by regulators.

Farmers State Bank has $36 million of assets and offices in Beresford, Irene, and Viborg. The towns are south of Sioux Falls, in the southeast corner of the state.

Norwest Bank South Dakota has $4.5 billion of assets, with 40 offices in two dozen communities. Norwest Corp. overall has $67 billion. - Steve Mills

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