<ARTICLE> 9

<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FIRST
BANK SYSTEM, INC. SEPTEMBER 30, 1995 10-Q AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>

<MULTIPLIER> 1,000

       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1995
<PERIOD-END>                               SEP-30-1995
<CASH>                                       1,586,000
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                               260,000
<TRADING-ASSETS>                               164,000
<INVESTMENTS-HELD-FOR-SALE>                  3,302,000
<INVESTMENTS-CARRYING>                               0
<INVESTMENTS-MARKET>                                 0
<LOANS>                                     25,877,000
<ALLOWANCE>                                    468,500
<TOTAL-ASSETS>                              32,958,000
<DEPOSITS>                                  21,895,000
<SHORT-TERM>                                 4,156,000
<LIABILITIES-OTHER>                            879,000
<LONG-TERM>                                  3,127,000
<COMMON>                                       169,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                    105,000
<OTHER-SE>                                   2,462,000
<TOTAL-LIABILITIES-AND-EQUITY>              32,958,000
<INTEREST-LOAN>                              1,693,000
<INTEREST-INVEST>                              183,600
<INTEREST-OTHER>                                26,400
<INTEREST-TOTAL>                             1,903,000
<INTEREST-DEPOSIT>                             538,200
<INTEREST-EXPENSE>                             823,100
<INTEREST-INCOME-NET>                        1,079,900
<LOAN-LOSSES>                                   84,000
<SECURITIES-GAINS>                                   0
<EXPENSE-OTHER>                                918,600
<INCOME-PRETAX>                                663,100
<INCOME-PRE-EXTRAORDINARY>                     417,400
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   417,400
<EPS-PRIMARY>                                     3.05
<EPS-DILUTED>                                     2.99
<YIELD-ACTUAL>                                    4.94
<LOANS-NON>                                    117,000
<LOANS-PAST>                                    40,700
<LOANS-TROUBLED>                                   100
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                               474,700
<CHARGE-OFFS>                                  158,200
<RECOVERIES>                                    66,200
<ALLOWANCE-CLOSE>                              468,500
<ALLOWANCE-DOMESTIC>                                 0
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                              0