<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FIRST
BANK SYSTEM, INC. MARCH 31, 1995, 10-Q AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1995
<PERIOD-END>                               MAR-31-1995
<CASH>                                       1,598,000
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                               253,000
<TRADING-ASSETS>                                90,000
<INVESTMENTS-HELD-FOR-SALE>                  3,535,000
<INVESTMENTS-CARRYING>                               0
<INVESTMENTS-MARKET>                                 0
<LOANS>                                     25,215,000
<ALLOWANCE>                                    470,400
<TOTAL-ASSETS>                              32,712,000
<DEPOSITS>                                  23,477,000
<SHORT-TERM>                                 2,929,000
<LIABILITIES-OTHER>                            818,000
<LONG-TERM>                                  2,542,000
<COMMON>                                       169,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                    106,000
<OTHER-SE>                                   2,482,000
<TOTAL-LIABILITIES-AND-EQUITY>              32,712,000
<INTEREST-LOAN>                                547,200
<INTEREST-INVEST>                               69,300
<INTEREST-OTHER>                                 9,100
<INTEREST-TOTAL>                               625,600
<INTEREST-DEPOSIT>                             178,400
<INTEREST-EXPENSE>                             262,300
<INTEREST-INCOME-NET>                          363,300
<LOAN-LOSSES>                                   26,000
<SECURITIES-GAINS>                                   0
<EXPENSE-OTHER>                                304,300
<INCOME-PRETAX>                                212,600
<INCOME-PRE-EXTRAORDINARY>                     133,800
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   133,800
<EPS-PRIMARY>                                     0.97
<EPS-DILUTED>                                     0.96
<YIELD-ACTUAL>                                    5.05
<LOANS-NON>                                    148,000
<LOANS-PAST>                                    34,400
<LOANS-TROUBLED>                                   100
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                               474,700
<CHARGE-OFFS>                                   51,700
<RECOVERIES>                                    19,600
<ALLOWANCE-CLOSE>                              470,400
<ALLOWANCE-DOMESTIC>                                 0
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                              0