Brothers In The Bank
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For years, Firstar's Jerry Grundhofer and U.S. Bancorp's John Grundhofer engaged in sibling rivalry in the banking biz. On Oct. 4, they announced Firstar would buy U.S. Bancorp in a $21 billion stock deal, creating the nation's eighth-largest bank. Jerry, president and CEO of Firstar, will get those titles at the new bank, and John will be chairman until 2002. The new bank will take U.S. Bancorp's name and be based in Minneapolis.