▁$ 2 1 ▁Bill ion ▁in ▁stock . ▁First ar ▁completed ▁its ▁buy out ▁of ▁U . S . ▁Ban cor p ▁on ▁February ▁ 2 7 , ▁ 2 0 0 1 ▁and ▁changed ▁its ▁name ▁to ▁U . S . ▁Ban cor p . ▁Under ▁the ▁mer ger ▁agreement , ▁Jerry ▁Grund ho fer , ▁president ▁and ▁chief ▁executive ▁officer ▁of ▁First ar , ▁would ▁continue ▁in ▁those ▁positions ▁in ▁the ▁combined ▁company ▁while ▁his ▁older ▁brother , ▁John ▁Grund ho fer , ▁chairman , ▁president ▁and ▁chief ▁executive ▁officer ▁of ▁U . S . ▁Ban cor p , ▁would ▁serve ▁as ▁chairman ▁of ▁the ▁board ▁in ▁the ▁combined ▁company ▁until ▁his ▁planned ▁ret irement ▁on ▁December ▁ 3 1 , ▁ 2 0 0 2 . ▁Though ▁some ▁administrative ▁functions ▁would ▁remain ▁in ▁Mil w au kee ▁and ▁C inc inn ati , ▁it ▁was ▁decided ▁that ▁the ▁new ▁combined ▁company ▁would ▁be ▁based ▁in ▁Min ne apolis ▁and ▁that ▁the ▁new ▁company ▁would ▁use ▁the ▁U . S . ▁Ban cor p ▁name . ▁ ▁To ▁allow ▁the ▁mer ger ▁to ▁proceed , ▁the ▁U . S . ▁Department ▁of ▁Justice ▁required ▁First ar ▁to ▁sell ▁ 1 1 ▁branch ▁offices ▁in ▁the ▁Min ne apolis - area ▁and ▁ 2 ▁in ▁Council ▁Bl uff s , ▁Iowa . ▁Bre mer ▁Bank ▁of ▁Saint ▁Paul , ▁Minnesota ▁purchased ▁the ▁ 1 1 ▁Min ne apolis - area ▁First ar ▁offices ▁while ▁Liber ty ▁Bank ▁of ▁West ▁Des ▁Mo ines