Printer Friendly

COMMUNITY FIRST BANKSHARES COMPLETES PURCHASE OF COMMUNITY INSURANCE

COMMUNITY FIRST BANKSHARES COMPLETES PURCHASE OF COMMUNITY INSURANCE
 FARGO, N.D., June 30 /PRNewswire/ -- Community First Bankshares, Inc., (NASDAQ: CFBX) today announced it has completed the acquisition of Community Insurance, Inc. (CII), which operates insurance agencies in communities served by 13 of the company's banks.
 CII, which had been privately held, had 1991 commission income of approximately $1.5 million on $12 million in premium volume. The companies reached an agreement for the acquisition in November, pending regulatory approvals which were received earlier this month.
 Donald R. Mengedoth, president and chief executive officer of Community First, said CII will operate as a wholly owned subsidiary of Community First Bankshares, Inc., with its headquarters in Fargo. Richard K. Horst will remain as president of CII.
 Headquartered in Fargo, Community First Bankshares, Inc., has 27 banking offices in Minnesota, North Dakota and South Dakota.
 -0- 6/30/92
 /CONTACT: Curt Swenson of Swenson Falker Eilertsen, 612-371-0000, for Community First; or Donald R. Mengedoth of Community First, 701-235-1600/
 (CFBX) CO: Community First Bankshares, Inc. ST: North Dakota IN: FIN SU: TNM


AL -- MN007 -- 5242 06/30/92 14:16 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 30, 1992
Words:187
Previous Article:FEDERAL RESERVE BANK OF PHILADELPHIA ISSUES THE JUNE 1992 LIVINGSTON SURVEY
Next Article:DELMARVA POWER & LIGHT ANNOUNCES DIVIDEND ON AUCTION PREFERRED STOCK
Topics:


Related Articles
COMMUNITY FIRST BANKSHARES TO ACQUIRE INSURANCE AGENCY
COMMUNITY FIRST BANKSHARES SIGNS DEFINITIVE AGREEMENT FOR WORTHINGTON PURCHASE
COMMUNITY FIRST BANKSHARES TO ACQUIRE COOPERSTOWN BANK HOLDING COMPANY
COMMUNITY FIRST BANKSHARES COMPLETES PURCHASE OF WORTHINGTON BANK
COMMUNITY FIRST BANKSHARES COMPLETES PURCHASE OF MORRIS BANK
COMMUNITY FIRST BANKSHARES HAS AGREEMENT IN PRINCIPLE TO ACQUIRE COLORADO HOLDING COMPANY
COMMUNITY FIRST BANKSHARES HAS DEFINITIVE AGREEMENT FOR COLORADO ACQUISITION
COMMUNITY FIRST BANKSHARES COMPLETES ABBOTT ACQUISITION
Community First Bankshares Completes Acquisition of Mountain Parks Financial Corp.
Community First Bankshares Completes Acquisition of Thornton, Colorado, Bank Holding Company

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters