EXHIBIT 21 SUBSIDIARIES OF THE CORPORATION The following is a list of subsidiaries of the corporation. All bank subsidiaries which have the words "National Association" (N.A.) or "National" in their respective titles are organized under the laws of the United States; and all state bank subsidiaries are incorporated under the laws of the state in which each is domiciled. Each non-bank subsidiary is incorporated or organized in the jurisdiction appearing opposite its name. Bank Subsidiaries ARIZONA Bank of Scottsdale Caliber Bank Norwest Bank Arizona, N.A. COLORADO Norwest Bank Colorado, N.A. Norwest Bank Grand Junction, N.A. Norwest Bank Grand Junction-Downtown, N.A. The Ken-Caryl Bank ILLINOIS Norwest Bank Illinois, N.A. INDIANA Norwest Bank Indiana, N.A. IOWA Dial National Bank Norwest Bank Iowa, N.A. MINNESOTA Norwest Bank Minnesota, N.A. Norwest Bank Minnesota Central, N.A. Norwest Bank Minnesota Mesabi, N.A. Norwest Bank Minnesota North, N.A. Norwest Bank Minnesota South, N.A. Norwest Bank Minnesota South Central, N.A. Norwest Bank Minnesota Southeast, N.A. Norwest Bank Minnesota Southwest, N.A. Norwest Bank Minnesota West, N.A. Norwest Bank Red Wing, N.A. Norwest Bank Waseca, N.A. MONTANA Norwest Bank Montana, N.A. NEBRASKA Norwest Bank Nebraska, N.A. NEW MEXICO Norwest Bank New Mexico, N.A. The American National Bank of Silver City The First National Bank of Belen NORTH DAKOTA Norwest Bank North Dakota, N.A. OHIO Norwest Bank Ohio, N.A. SOUTH DAKOTA Dial Bank Norwest Bank South Dakota, N.A. TEXAS First National Bank of Kerrville Norwest Bank Texas, Borger, N.A. Norwest Bank Texas, Canyon, N.A. Norwest Bank Texas, Crane Norwest Bank Texas, Denver City Norwest Bank Texas, N.A. Norwest Bank Texas, Midland, N.A. Norwest Bank Texas, Plainview, N.A. Norwest Bank Texas, Post, N.A. Norwest Bank Texas, Waco, N.A. WISCONSIN Norwest Bank La Crosse, N.A. Norwest Bank Wisconsin, N.A. Norwest Bank Wisconsin Eau Claire, N.A. WYOMING Norwest Bank Wyoming, N.A. Norwest Bank Wyoming Lovell, N.A. EDGE ACT CORPORATIONS Norwest Bank International Non-Bank Subsidiaries JURISDICTION OF INCORPORATION OR DIRECTLY OWNED: ORGANIZATION - --------------- ---------------- Alexandria Securities and Investment Company................. Minnesota Am-Can Investments, Inc...................................... Minnesota American Land Title Company of Kansas City, Inc.............. Missouri American Republic Bancshares, Inc............................ New Mexico Bank of Montana System....................................... Montana Blackhawk Bancorporation..................................... Iowa Copper Bancshares, Inc....................................... New Mexico D.L. Bancshares, Inc......................................... Minnesota First Illini Bancorp, Inc.................................... Illinois GST Co....................................................... Delaware Independent Bancorp of Arizona, Inc.......................... Arizona Island Finance Puerto Rico, Inc.............................. Delaware Island Finance Virgin Islands, Inc........................... Delaware Ken-Caryl Investment Company................................. Colorado 2 JURISDICTION OF INCORPORATION OR DIRECTLY OWNED: ORGANIZATION - --------------- ---------------- La Porte Bancorp............................................ Indiana Lindeberg Financial Corporation............................. Minnesota Lomas Properties, Inc....................................... New Mexico Midwest Credit Life Insurance Company....................... Arizona Minnesota FSL Corporation................................... Minnesota Minnetonka Overseas Investment Limited...................... Cayman Islands, BWI Northern Prairie Indemnity Limited.......................... Cayman Islands, BWI Norwest Agricultural Credit, Inc............................ Minnesota Norwest Alliance System, Inc. (inactive).................... Minnesota Norwest Audit Services, Inc................................. Minnesota Norwest BancAssurance Company (inactive).................... Delaware Norwest Capital Markets, Inc................................ Minnesota Norwest Colorado, Inc....................................... Colorado Norwest Credit, Inc......................................... Minnesota Norwest Financial Services, Inc............................. Delaware Norwest Holding Company..................................... Delaware Norwest Indiana, Inc........................................ Indiana Norwest Insurance, Inc...................................... Minnesota Norwest Insurance Arizona, Inc.............................. Arizona Norwest Investment Advisors, Inc............................ Minnesota Norwest Investment Management, Inc.......................... Minnesota Norwest Investment Services, Inc............................ Minnesota Norwest Investors, Inc...................................... Minnesota Norwest Limited, Inc........................................ Minnesota Norwest Nova, Inc. (inactive)............................... Minnesota Norwest Properties, Inc..................................... Minnesota Norwest Technical Services, Inc............................. Minnesota Peoples Mortgage and Investment Company..................... Iowa P N, Inc.................................................... Minnesota Spectrum Properties, Inc.................................... Colorado Texas National Bankshares, Inc.............................. Texas United Banks Financial Services Corporation (inactive)...... Colorado United Banks Insurance Services, Inc........................ Colorado United Equity Corporation (inactive)........................ Colorado United Title Agency of Arizona, Inc......................... Arizona Wyoming National Bancorporation............................. Wyoming INDIRECTLY OWNED: - ----------------- Allied Business Systems Inc................................. Iowa American Land Title Co., Inc................................ Nebraska ATI Holding Company......................................... Minnesota ATI Title Agency of Arizona, Inc. (inactive)................ Arizona ATI Title Agency of Ohio, Inc............................... Ohio ATI Title Company of Nevada................................. Nevada BMS Services Corporation.................................... Montana Blackhawk Leasing Corporation (inactive).................... Minnesota Blue Jay Asset Management, Inc.............................. Delaware Blue Spirit Insurance Company............................... Vermont Boris Systems, Inc.......................................... Michigan Buffam, Inc. (inactive)..................................... Montana 3 JURISDICTION OF INCORPORATION OR INDIRECTLY OWNED: ORGANIZATION - ----------------- ---------------- Capital Community Development Corp.......................... Colorado Cardinal Asset Management, Inc.............................. Delaware Centennial Investment Corporation........................... Minnesota Centurion Agency Nevada, Inc................................ Nevada Centurion Agency Ohio, Inc. (inactive)...................... Ohio Centurion Agencies, Co...................................... Iowa Centurion Casualty Company.................................. Iowa Centurion Life Insurance Company............................ Missouri CGT Insurance Company....................................... Bahamas CHM Insurance Company....................................... South Dakota Clinton Street Garage Company............................... Indiana Commonwealth Leasing Corporation............................ Minnesota Community Casualty Co....................................... Vermont Copper Asset Management, Inc................................ Delaware Crestone Capital Management, Inc............................ Colorado Crop Hail Management........................................ Montana Davenport Blackhawk Civic Corp. (inactive).................. Iowa Dial Finance Company, Inc. (inactive)....................... Nevada Dial Finance Company, Incorporated (inactive)............... Delaware Dial Finance Company of Hawaii, Inc. (inactive)............. Hawaii Dial Finance Company of Michigan No. 1 (inactive)........... Michigan Dial Finance Company of Ohio No. 1 Inc. Merger Company, Inc. (inactive)............................ New Hampshire Dial Finance Company of Oklahoma (inactive)................. Oklahoma Dial Finance Company of Oregon (inactive)................... Oregon Dial National Community Benefits, Inc....................... Nevada Eau Claire Asset Management, Inc............................ Delaware Ellis Advertising, Inc...................................... Iowa Falcon Asset Management, Inc................................ Delaware Faxual Credit Reporting Service, Inc........................ California FDMC, Inc................................................... Colorado Fidelity National Life Insurance Company.................... Arizona First DialWest Escrow Company, Inc.......................... California First Interstate Equipment Finance, Inc..................... Wisconsin First Interstate Insurance Agency of Wisconsin, Inc. (inactive)................................................. Wisconsin First of Lubbock Agricultural Credit Corporation............ Texas Flore Properties, Inc....................................... Minnesota Ford Bank Group, Inc........................................ Texas Ford Bank Group Holdings, Inc............................... Texas Fremont Properties, Inc..................................... Colorado Great Plains Insurance Company.............................. Vermont Green Bay Asset Management, Inc............................. Delaware Information Services, Inc................................... Iowa IntraWest Asset Management, Inc............................. Delaware IntraWest Insurance Company................................. Arizona Iowa Asset Management, Inc.................................. Delaware La Crosse Asset Management, Inc............................. Delaware LaSalle, Inc................................................ Indiana LBT Corporation............................................. Indiana 4 JURISDICTION OF INCORPORATION OR INDIRECTLY OWNED: ORGANIZATION - ----------------- ---------------- Lincoln Building Corporation................................. Colorado Mail Systems Co.............................................. Iowa Minnetonka Representacoes Comerciais Ltda.................... Brazil Montana Bancsystem, Inc...................................... Montana Mountain States Bankcard Association......................... Colorado Nabankco, Inc................................................ Indiana Nat-Lea, Inc................................................. Indiana Norwest Agencies Montana, Inc................................ Montana Norwest Argentina, S.A....................................... Argentina Norwest Asia Limited......................................... Hong Kong Norwest Bank Building Company................................ Minnesota Norwest Business Credit, Inc................................. Minnesota Norwest Center, Inc.......................................... Minnesota Norwest Equipment Finance, Inc............................... Minnesota Norwest Equity Capital, Inc.................................. Minnesota Norwest Financial, Inc.(1)................................... Iowa Norwest Financial Business Credit, Inc....................... Iowa Norwest Financial Canada, Inc................................ Ontario Norwest Financial Capital, Inc............................... Delaware Norwest Financial Capital Canada, Inc........................ Ontario Norwest Financial Coast, Inc................................. California Norwest Financial Communication Services Group, Inc.......... Iowa Norwest Financial Credit Services Inc........................ Florida Norwest Financial DE Asset Management, Inc................... Delaware Norwest Financial Information Services Group, Inc............ Iowa Norwest Financial Iowa 4, Inc................................ Iowa Norwest Financial Leasing, Inc............................... Iowa Norwest Funding, Inc......................................... Minnesota Norwest Funding II, Inc...................................... Minnesota Norwest Growth Fund, Inc..................................... Minnesota Norwest Insurance Wyoming, Inc............................... Wyoming Norwest International Commercial Services Limited............ Hong Kong Norwest Mortgage, Inc........................................ Minnesota Norwest Mortgage Asset Management Corp....................... Minnesota Norwest Mortgage Closing Services, Inc....................... Iowa Norwest Mortgage Conventional 1, Inc......................... Delaware - -------- (1) Norwest Financial Inc. is the parent and directly or indirectly beneficially owns all the voting securities of subsidiaries operating as consumer finance companies in the United States and Canada (74 subsidiaries at February 24, 1995). Such subsidiaries were incorporated or otherwise organized in: Alabama, Alaska, Arizona, Colorado, Connecticut, Delaware, Florida, Hawaii, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, Wisconsin, Wyoming and Ontario, Canada. 5 JURISDICTION OF INCORPORATION OR INDIRECTLY OWNED: ORGANIZATION - ----------------- ---------------- Norwest Mortgage Insured 1, Inc............................. Delaware Norwest Mortgage Insured 2, Inc............................. Delaware Norwest Mortgage of New York, Inc........................... New York Norwest Properties Holding Company.......................... Minnesota Norwest Rural Insurance Services, Inc....................... Minnesota Norwest Trust Company, New York (a Limited Purpose Trust Company)................................................... New York Norwest Trust Texas, N.A.--Waco............................. United States Norwest Trust Texas, N.A.--Wichita Falls.................... United States Norwest Venture Capital Management, Inc..................... Minnesota Osprey Asset Management, Inc................................ Delaware Peregrine Capital Management, Inc........................... Minnesota Premium Service/Norwest Financial Coast, Inc................ South Carolina R D Leasing, Inc. (inactive)................................ Minnesota Regency Insurance Agency, Inc............................... Minnesota Residential Home Mortgage, L.L.C............................ Delaware Residential Home Mortgage Investment, L.L.C................. Delaware Rural Community Insurance Company........................... Minnesota Rural Community Insurance Agency, Inc....................... Minnesota Securities Asset Management I, Inc.......................... Delaware Securities Asset Management II, Inc......................... Delaware Securities Asset Management III, Inc........................ Delaware Scott Life Insurance Company................................ Arizona Servcorp of Yankton, Inc. (inactive)........................ South Dakota South Dakota Asset Management, Inc.......................... Delaware Superior Asset Management, Inc.............................. Delaware Superior Central Asset Management, Inc...................... Delaware Superior Guaranty Insurance Company......................... Vermont Superior Mesabi Asset Management, Inc....................... Delaware Superior North Asset Management, Inc........................ Delaware Superior Red Wing Asset Management, Inc..................... Delaware Superior South Asset Management, Inc........................ Delaware Superior South Central Asset Management, Inc................ Delaware Superior Southeast Asset Management, Inc.................... Delaware Superior Southwest Asset Management, Inc.................... Delaware Superior West Asset Management, Inc......................... Delaware TDM Corporation............................................. Texas Teller Properties, Incorporated............................. Colorado The Bank Information Services, Inc. (inactive).............. Minnesota Tower Data Processing Corporation........................... Iowa TW Properties, Inc.......................................... Colorado UMCNor, Inc. (inactive)..................................... Colorado U.S. Recognition, Inc....................................... New Jersey United New Mexico Credit Life Insurance Company............. Arizona United New Mexico Credit Services, Inc. (inactive).......... New Mexico United New Mexico Financial Corporation..................... New Mexico United New Mexico Real Estate Services, Inc................. New Mexico Valuation Information Technology, Inc....................... Iowa Warranty Title, Inc......................................... Minnesota WNB Asset Management, Inc................................... Texas - -------- NOTE: Not included in the above list of subsidiaries of the corporation are certain subsidiaries formed solely for the purpose of reserving a name, joint ventures or limited partnerships. Information provided as of February 24, 1995 6