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COMMUNITY FIRST BANKSHARES TO ACQUIRE BANK IN COLORADO

 FARGO, N.D., Nov. 22 /PRNewswire/ -- Community First Bankshares, Inc., (NASDAQ: CFBX) announced today that it has signed a purchase agreement to acquire Grand National Bank of Colorado, Fraser, Colo., subject to the usual regulatory approvals. The bank has assets of $20 million and serves Grand County, Colo. Terms of the transaction were not disclosed.
 "Grand National Bank is particularly attractive to us because of its proximity to the Winter Park ski area and its resultant exposure to the tourist industry," said Donald R. Mengedoth, president and chief executive officer of Community First. "Its business is very similar to that of our existing Colorado offices in Steamboat Springs and Vail."
 Walter G. Mise, chairman of the board of Grand National Bank, said, "Community First's history shows that they will continue the excellent service we have provided the Grand County community. They live up to their name -- they put the community first."
 C. Dean Boyd, president and chief executive officer of Grand National Bank, said, "We look forward to the association with Community First, which will allow us to provide even more financial services with a higher degree of convenience to the Grand County community."
 Headquartered in Fargo, Community First Bankshares, Inc., serves 34 communities in Colorado, Minnesota, North Dakota and South Dakota.
 -0- 11/22/93
 /CONTACT: Curt Swenson of Swenson/Falker Associates, 612-371-0000, or Donald Mengedoth of Community First Bankshares, 701-298-5600/
 (CFBX)


CO: Community First Bankshares, Inc. ST: Minnesota, Colorado IN: FIN SU: TNM

CP-xx -- MN011 -- 6841 11/22/93 13:31 EST
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Publication:PR Newswire
Date:Nov 22, 1993
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